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FAC3702ASSIGNMENT 1 GUIDE FOR UNISA $4.44
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FAC3702ASSIGNMENT 1 GUIDE FOR UNISA

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THE DOCUMENT ABOVE SHOWS HOW TO ANSWERS QUESTIONS AS PER UNISA STANDRDS. FOLLOWING THE GUIDE ONE IS ASSURED OF A DISTINCTION.

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  • March 11, 2023
  • 2
  • 2022/2023
  • Exam (elaborations)
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FAC3702 ASSIGNMENT 1 – SEMESTER 2 OF
2018
(a) ROAST LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31
DECEMBER 2017

1. Property, Plant & Equipment

Land Buildings Machinery
Carrying amount at 1 July 2016 1 960 000 2 782 250 937 000
Cost 1 960 000 2 840 000 1 105 000a
Accumulated Depreciation - (57 750)g (168 000)b
Additions during the year - - -
Revaluation 140 000f 507 750 h -
Depreciation for the year - (90 000)i (102 806)c
Disposals - - (296 000)d
Carrying amount at 30 June 2017 2 100 000 3 200 000 538 194
Cost / Gross Carrying Amount 2 100 000 3 290 000j 625 000
Accumulated Depreciation - (90 000) (86 806)e



The land and buildings situated at Stand 2976, Kayalami are owner occupied and
they were revalued for the first time on 31 December 2017 by an independent
sworn appraiser.

Calculations
a. 480 000 + 625 000 = 1 105 000

b. 480 000 21
( ∗ )
5 12
c. 480 000 2 625 000 10
[( ∗ )+( ∗ )] = 102 806
5 12 6 12
d. 480 000 23
[480 000 − ( ∗ ) = 296 000
5 12
e. 625 000 10
( ∗ ) = 86 806
6 12
f. (2 100 000 − 1 960 000) = 140 000
g. (2 840 000 −950 000) 11
( ∗ ) = 57 750
30 12
h. 3 200 000 − 950 000
[(3 200 000 + ) − 2 782 250 = 507 750
25
i. 3 200 000 − 950 000
( 25
) = 90 000
j. 3 200 000 − 950 000
(3 200 000 + ) = 3 290 000
25

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