Accounting Project

I have a task related to accounting. I need this on Immediate basis like within hours. Let me know if anyone is interested just to give a hint on what needs to be done. I have mentioned the question here. Please let me know id you can help Only genuine people who can help message Royal Docks, a public limited company operates in the entertainment industry. It recently agreed with a television company to make a film which will be broadcast on the television company's network. The fee agreed for the film was £5 million with a further £100,000 to be paid every time the film is shown on the television company's channels. It's hoped that it will be shown on four occasions. The film was completed at a cost of £4 million and delivered to the television company of 1 April 2020. The television company paid the fee of £5 million on 30 April 2020 but indicated that the quality of the film, whilst satisfactory, was not as good as expected. The directors of Royal Docks are unsure how much revenue should be recognised in the financial statements for the year ended 31 May 2020 [login to view URL] Docks has a number of film studios and office buildings. The office buildings are in prestigious areas whereas the film studios are located "out of town" locations. At present, both types of buildings are valued using the "revaluation model". The management of Royal Docks wish to apply the "revaluation model" to the office buildings and the "cost model" to the film studios in the ended 31 May 2020. During the year, Royal Docks set up a theme park. In this case, only, the land and buildings on the park are leased on a single lease from a third party. The lease term is for 30 years, which is the remaining useful economic life of the buildings. The directors are unsure whether the land element prevents the lease from being classified as a finance lease. (c) At 1 June 2019, Royal Docks held a 25% shareholding in a film distribution company, Wireless, a public limited company. On 1 January 2020, Royal Docks sold a 15% holding in Wireless thus reducing its investment to a 10% holding. Royal Docks no longer exercises significant influence over Wireless. Immediately before that sale, the carrying value of the interest in Wireless in the group financial statements was £55 million. Royal Docks received £40 million for its sale of the 15% holding in Wireless. At 1 January 2020, the fair value of the remaining investment in Wireless was £23 million and 31 May 2020 the fair value was £26 million. Additionally, Royal Docks purchased 60% of the ordinary shares of a radio Playtime, a public limited company, on 31 May 2020. The remaining 40% of the ordinary shares are owned by a competitor company that owns a substantial number of warrants issued by Playtime which are currently exercisable. If these warrants are exercised, they will result in Royal Docks only owning 35% of the voting shares of Playtime. Disposal of associate: The investment in Wireless is currently accounted for using the equity method of accounting under IAS 28 (revised) Investments in associates and joint ventures. Discuss how the residual holding of a 10% interest will be accounted for in accordance with IFRS 9. Calculate the gains arising from the sale of the associate. Show all workings.