Exam (elaborations)

FAC2602 ASSIGNMENT 2 SEMESTER 2 2024 3. Use the scenario loaded under additional resources to answer the following question. The value of other expenses in the consolidated statements is: 1. R. R. R. R1 575 000

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FAC2602 ASSIGNMENT 2 SEMESTER 2 2024 3. Use the scenario loaded under additional resources to answer the following question. The value of other expenses in the consolidated statements is: 1. R1 480 000 2. R1 535 000 3. R1 720 000 4. R1 575 000

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Uploaded on September 10, 2024
Number of pages 17
Written in 2024/2025
Type Exam (elaborations)
Contains Questions & answers

selected accounting standards and simple group

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FAC2602
Assessment 2

Use the scenario loaded under additional resources to answer the following question.
The correct journal entry to eliminate the unrealised profit included in the opening inventory is:
1.
Retained earnings – Lex (R1 200 000 x 20/120)
Ltd..................
Cost of sales – Lex (R1 200 000 x
Ltd..................... 20/120)

2.
Retained earnings – E-Volvo (R1 200 000 x 20/120)
Ltd...........
Inventory – Lex (R1 200 000
Ltd........................... x 20/120)

3.
Cost of sales – Lex (R870 000 x 20/120)
Ltd..........................
Inventory E-Volvo (R870 000 x 20/120)
Ltd.......................
4.
Retained earnings – Lex (R1 200 000 x 20/120)
Ltd..................
Cost of sales – E- (R1 200 000
Volvo Ltd.............. x 20/120)

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Exam (elaborations)

FAC2602 ASSIGNMENT 2 SEMESTER 2 2024 3. Use the scenario loaded under additional resources to answer the following question. The value of other expenses in the consolidated statements is: 1. R. R. R. R1 575 000

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