100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
FAC3703 ASSIGNMENT 1 SEMESTER 1 – 2022 $3.49   Add to cart

Exam (elaborations)

FAC3703 ASSIGNMENT 1 SEMESTER 1 – 2022

 0 view  0 purchase
  • Course
  • Institution

) Disclose the following notes to the annual financial statements of Heavy Machinery Ltd for the year ended 28 February 2022:  Profit before tax; and  Leases (excluding disclosure in terms of IFRS 7, Financial Instruments: Disclosures) HEAVY MACHINERY LTD Notes to the annual financial s...

[Show more]

Preview 2 out of 8  pages

  • April 29, 2022
  • 8
  • 2021/2022
  • Exam (elaborations)
  • Questions & answers
avatar-seller
fac3703 assignment 1




FAC3703
ASSIGNMENT 1
SEMESTER 1 – 2022




This study source was downloaded by 100000845738910 from CourseHero.com on 04-29-2022 04:42:26 GMT -05:00


https://www.coursehero.com/file/143781882/FAC3703-ASSIGNMENT-1-2022docx/

, (a) Disclose the following notes to the annual financial statements of Heavy
Machinery Ltd for the year ended 28 February 2022:

 Profit before tax; and
 Leases (excluding disclosure in terms of IFRS 7, Financial Instruments:
Disclosures)



HEAVY MACHINERY LTD

Notes to the annual financial statements for the year ended 28 February 2022

1. Profit before tax

Profit before tax is stated after taking the following into account:

Income:
Revenue 1 376 500
Finance Income (C.3.) 36 746
1 413 246
Expenses:
Legal Fees 17 000
17 000




2. Investment in finance leases

2.1. Reconciliation of net investment in finance leases

Opening balance -
New leases entered into 1 376 500
Finance income (C.3.) 36 746
Less: Lease instalments received (91 250)

Closing balance 1 321 996



1




This study source was downloaded by 100000845738910 from CourseHero.com on 04-29-2022 04:42:26 GMT -05:00


https://www.coursehero.com/file/143781882/FAC3703-ASSIGNMENT-1-2022docx/

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 SIRTHEA. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $3.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$3.49
  • (0)
  Add to cart