Exam (elaborations)
FAC3762 ASSIGNMENT01 SEMESTER 1&2 OF 2021
- Course
- Institution
This document contains suggested solution, explanations and detailed workings. For assistance call or Watsapp .
[Show more]
Seller
Follow
overcomerstutorials
Reviews received
Content preview
aaaaa[Type here] [Type here] [Type here]OVERCOMERS
TUTORIALS
www.overcomerstutorials.co.za
admin@overcomerstutorials.co.za
Telephone: 011 972 0177
Watsapp: 060 690 8841
2021
FAC3762 ASSIGNMENT01 SEMESTER 1&2 OF 2021
UNIQUE NUMBER:
UNISA
Disclaimer
The information contained in this document is confidential, privileged and only for the
information of the intended recipient and may not be used, published or redistributed
without the prior written consent of Overcomers Tutorials (Pty) Ltd.
The opinions expressed are in good faith and while every care has been taken in preparing
this document, Overcomers makes no representations and gives no warranties of whatever
nature in respect of this document, including but not limited to the accuracy or
completeness of any information, facts and/or opinions contained therein.
Overcomers Tutorials (Pty) Ltd, its subsidiaries, the directors, employees and agents
cannot be held liable for the use of and reliance of the opinions, estimates, forecasts and
findings in this document.
A[Type here] [Type here] [Type here]
, Fac3762 Assignment 1 (2021)
(a)
To: Financial Director
From: Student
Subject: Treatment of bank balances
The favourable bank balance of Brick Ltd will be disclosed under
current assets and the overdraft will be disclosed separately under
current liabilities.
Offsetting is allowed if the following criteria are met:
- there is a legally enforceable right to set off the recognised
amount and
- there is intention to settle on a net basis
This means for offsetting to occur:
- the companies should have accounts at the same bank and
- the company with the favoura ble bank balance should
guarantee the overdraft of the other company, or
- the bank itself would offset the amounts against each other in
terms of an agreement between the two companies and the bank.
(b)
BRICK LTD GROUP
Consolidated statement of changes in equity for the year ended
30 June 2020
Share RetainedNon-
capital earningscontrolling
interest
Balance at the beginning of the year 1 500 000 2 118 644 252 367
Total comprehensive income for the year 6 277 750 320 409
Ordinary Dividends paid (496 000) (10 000)
Balance at the end of the year 1 500 000 7 900 394 571 776
1.1 [1 968 974 + 135 870 + 5 650 + 8 150] = 2 118 644
1.2 [6 598 159 - 320 409] = 6 277 750
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller overcomerstutorials. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.55. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53068 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now