Exam (elaborations)
FAC3762 OCTOBER 2022 SOLUTION
- Institution
- University Of South Africa (Unisa)
Detailed memo with clear calculations and explanations.
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OCTOBER –NOVEMBER 2022
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1
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, SOLUTION 1
PART A
(a) Extract of the Notes to the Financial Statements of Bonang Ltd for the year
ended 28 February 2022
1. Profit before tax
Profit before tax includes the following:
R
Incomes
Finance income (𝑖) 13 689
Operating lease income (𝑖𝑖𝑖) 193 083
Fair value adjustment on shares [195 000 − 154 000 − (140 000 −
120 000)] 21 000
Income from subsidiary:
- Dividends income (80% ∗ 154 000) 123 200
Income from other financial assets
- Unlisted investments: Dividend income (25 000 ∗ 35%) 8 750
Expenses
Expected credit loss (𝑖) 2 114
Depreciation (𝑖𝑖) 40 000
Employee benefits 6 909 557
Short – term employee benefits (𝑖𝑣) 6 459 557
Defined contribution plan (6 000 000 ∗ 7.5%) 450 000
Calculations
i. Investment in debentures
2
For academic need contact info@unitutorials.co.za/0651609781.
We also offer classes via zoom application, please contact us for more details.
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