100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
FAC3703-Specific Financial Reporting ASSIGNMENT 2 SEMESTER 1 OF 2018. $3.10   Add to cart

Exam (elaborations)

FAC3703-Specific Financial Reporting ASSIGNMENT 2 SEMESTER 1 OF 2018.

 3 views  0 purchase
  • Course
  • Institution

FAC3703-Specific Financial Reporting ASSIGNMENT 2 SEMESTER 1 OF 2018. ENZO LTD NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 1. Profit before tax Profit before tax is shown after taking the following into account: 2017 R Income Finance Income (calculation 4) 79 966 Exp...

[Show more]

Preview 1 out of 4  pages

  • October 28, 2022
  • 4
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers
avatar-seller
FAC3703 ASSIGNMENT 2 – SEMESTER 1 OF
2018
ENZO LTD
NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE
2017
1. Profit before tax
Profit before tax is shown after taking the following into account:
2017
R
Income
Finance Income (calculation 4) 79 966
Expenses
Finance cost (300 000 ∗ 2 ∗ 9%) 54 000

2. Net Investment in finance leases

2.1. Reconciliation of net investment in finance leases:

2017
R
Opening balance 1 129 727
New leases entered into -
Repayments of Capital (128 048 + 133 166) (261 214)
Effect of lease modification -
Closing Balance 868 513


2.2. Maturity analysis of future finance lease instalments receivable at
reporting date

2018 2019 2020
R R R
Undiscounted lease payments (173 200 ∗ 2) 346 400a 346 400a 346 400b
Unearned Finance Income (58 244)c (34 750)d (10 340)e
Net Investment in the lease 288 156 311 650 336 060


a. 173 200 ∗ 2 = 346 400
b. (173 200 ∗ 2) + 50 000 =
c. 17 356 + 29 177 + 11 711 = 58 244
d. 11 711 + 17 434 + 5 605 = 34 750


This study source was downloaded by 100000836267798 from CourseHero.com on 10-26-2022 08:47:24 GMT -05:00


https://www.coursehero.com/file/39029459/FAC3703-ASSIGNMENT-2-SEMESTER-1-OF-2018pdf/

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 Tutorexpert01. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $3.10. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

62555 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
$3.10
  • (0)
  Add to cart