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FAC3762 ASSIGNMENT 3 OF 2021 SUGGESTED SOLUTION | DUE 30 AUGUST
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FAC3762 ASSIGNMENT 3 OF 2021 SUGGESTED SOLUTION | DUE 30 AUGUST | FOR MORE ASSIGNMENT SOLUTIONS VISIT STUDYMY.XYZ
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FAC3762 ASSIGNMENT 2 OF 2021QUESTION 1
(a) Notes to the annual statements of Plastics Ltd for the year ended31 December
2020
1. Profit before tax
Profit before tax is stated after taking the following into account
R
Depreciation 53 290
Total depreciation [109 430 (𝐶1) + 39 611 (𝐶2)] 149 041
Depreciation capitalised (95 751)
Net Finance Cost 20 720
Finance cost 20 720
Total interest expense [91 067 (𝐶1) + 105 787 (𝐶2)] 196 854
Interest expense capitalized [80 244 (𝐶1) + 95 890 (𝐶2)] (176 134)
Finance Income -
Total interest income 18 546
Interest income capitalized (18 546)
2. Property, plant & equipment
Plant
R
Carrying amount at beginning of year -
Cost -
Accumulated Depreciation -
Additions at cost 4 500 000
Interest capitalized [80 244 (𝐶1) + 77 344 (𝐶2)] 157 588
Depreciation capitalized (𝐶1) 95 751
Depreciation for the year (𝐶2) (39 611)
Carrying amount at end of year 4 713 728
Cost 4 753 339 Accumulated Depreciation (39 611)
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