FAC2602 - Selected Accounting Standards And Simple Group Structures (FAC2602)
Institution
University Of South Africa (Unisa)
This document guarantees a 100% pass. It contains all the questions and the answers that you will receive when attempting assignment 1 of FAC2602 for semester 2. Invest in your marks. All the correct answers are in BOLD.
FAC2602 - Selected Accounting Standards And Simple Group Structures (FAC2602)
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FAC2602; Assignment 1: Semester 2 2022
1.
The scenario for this assignment is loaded under Additional Resources. Refer to
Assessment 1 Scenario and download this document. Please use it to answer all the
questions in this assessment.
Total current assets amounts to:
a.
R2 204 500
b.
R2 292 800
c.
R1 436 600
d.
R 856 200
2.
The scenario for this assignment is loaded under Additional Resources. Refer to
Assessment 1 Scenario and download this document. Please use it to answer all the
questions in this assessment.
Goodwill amounts to:
a.
R (45 000)
b.
R 106 000
c.
R 151 500
d.
R(110 000)
, 3.
The scenario for this assignment is loaded under Additional Resources. Refer to Assessment
1 Scenario and download this document. Please use it to answer all the questions in this
assessment.
Select the correct statement regarding shareholding and control within group structures:
a.
Control of another company is obtained only when the investor holds more than 50% of the
shareholding.
b.
A percentage holding of 48% in the investee will grant the investor the right to have control.
c.
A group of companies is formed only when the parent and the subsidiary agree about the
parent’s exposure to variable returns and the right to control those returns.
d.
A parent obtains control when it has power over the subsidiary, it has exposure or
rights to variable returns from its involvement with the subsidiary and it has the
ability to use its power over the subsidiary to affect the amount of the parent’s
returns.
4.
The scenario for this assignment is loaded under Additional Resources. Refer to
Assessment 1 Scenario and download this document. Please use it to answer all the
questions in this assessment.
The total comprehensive income for the year for non-controlling interests as reflected in
the consolidated statement of changes in equity amounts to:
a.
R66 000
b.
R38 400
c.
R89 600
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