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FAC2602 ASSIGNMENT 3 SEMESTER 2 DUE 25 SEPTEMBER 2024 COMPLETE ANSWERS 100% PASS GUARANTEED R50,00   Add to cart

Exam (elaborations)

FAC2602 ASSIGNMENT 3 SEMESTER 2 DUE 25 SEPTEMBER 2024 COMPLETE ANSWERS 100% PASS GUARANTEED

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FAC2602 ASSIGNMENT 3 SEMESTER 2 DUE 25 SEPTEMBER 2024 COMPLETE ANSWERS 100% PASS GUARANTEED

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  • September 25, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
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11  reviews

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By: berengcarol • 1 month ago

Some questions not answered

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By: nekuzikhona • 1 month ago

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By: tristanminnaar10 • 1 month ago

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By: celestetapererwa08 • 1 month ago

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By: thabangbaphilile • 1 month ago

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By: tsakanemaluleke • 1 month ago

Most question's are not answered.

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By: delightmametja96 • 1 month ago

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christophr0924
QUESTION ORDER IS DIFFERENT FOR EACH STUDENT
THE M ISSING SOLUTIONS WILL BE SENT SHORTLY
Question 1
.


The pro-forma journal entry to eliminate the depreciation relating to the prior year on the
sale of the video editing equipment is:

1.
Accumulated depreciation – Neptune Ltd 18 750
Retained earnings – Uranus Ltd 18 750


2.
Accumulated depreciation – Uranus Ltd 22 500
Retained earnings – Neptune Ltd 22 500



3.
Accumulated depreciation – Neptune Ltd 22 500
Depreciation – Uranus Ltd 22 500



4.
Accumulated depreciation – Uranus Ltd 18 750
Depreciation – Neptune Ltd 18 750




(1 700 000 – 1 450 000) x 9% x 10/12 = 18 750
Neptupe is depreciating the machine, therefore the depreciation should be eliminated from Neptune

, Question 2
Use the scenario to answer the following question.
The intragroup portion of arrear preference dividends up to the beginning of the current
year amounts to:

1. R45 581


2. R32 175


3. R42 900


4. R60 775

Uranus owns: 45 000/60 000 shares = 75%

Total preference dividend declared and paid= 103 675
Less Preference dividend for current year = 390 000 x 11% = 42 900

Intragroup preference dividend in arrear up to beginning of current year = (103 675 – 42 900) x 75% = R45 581




Question 3
Use the scenario to answer the following question.
In the current group context, other components of equity in the consolidated statement of
financial position comprises:

1.
Ordinary share capital, preference share capital, the revaluation surplus, retained earnings
and the non-controlling interests
2.
Only the revaluation surplus
3.
Ordinary share capital, preference share capital, the revaluation surplus and retained
earnings
4.
Ordinary share capital, the revaluation surplus and retained earnings

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