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FAC2602 Assignment 2 Semester 1 2022

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  • FAC2602 - Selected Accounting Standards And Simple Group Structures
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FAC2602 Assignment 2 Semester 1 2022 Disclaimer Extreme care has been used to create this document, however the contents are provided “as is” without any representations or warranties, express or implied. This document is to be used for comparison, research and reference purposes ONLY. No ...

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  • September 14, 2022
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  • 2022/2023
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  • fac2602 assignment 2 semester 1 2022

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  • University of South Africa
  • FAC2602 - Selected Accounting Standards And Simple Group Structures
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FAC2602 Assignment 2 Semester 1
2022

, FAC2602
3
Assignment 2 Semester 1 2022
Unique Number :

DOCUMENT PREVIEW
PART A

Draft the following pro-forma consolidation journal entries of the Daisy Ltd Group for the
year ended 28 February 2022, after taking the above-mentioned information into account:

(a) Elimination of the unrealised profit on the sale of the machine, as well as depreciation
associated with the sale of the machine.

DR CR
R R
Profit on sale of machinery - Begonia Ltd (230 000 − 150 000) 80 000,00
Machinery - Daisy Ltd 80 000,00




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