Fac 3704 - Study guides, Class notes & Summaries

FAC 3704 ASSIGNMENT 1 Last document update:   ago

Each question counts 1 mark. R 1. The correct answer is (3). Non- controlling interest At acquisition Retained earnings (107 500 x 20%) 21 500 Share capital (100 000 x 20%) 20 000 Since acquisition Retained earning (321 000 – 107 500) x 20% 42 700 Current year Profit for the year (124 000 x 20%) 24 800 Intragroup sale of inventories (70 000 x 25/125 x 0,72) x 20% (2 016) Dividends paid (50 000 x 20%) (10 000) 96 984 2. The correct answer is (1) R Long term borrowings Ge...