FAC2602 Selected Accounting Standards and Simple Group Structures (FAC2602)

Latest exam pack questions and answers and summarized notes for exam preparation.

Latest exam pack questions and answers and summarized notes for exam preparation.

Draft the following pro-forma consolidation journal entries of the IWP Ltd Group for the year ended 31 August 2022, after taking the above-mentioned information into account: (a) Elimination of the unrealised profit included in the opening and closing inventory DR CR Retained Earnings – BigCat Ltd 66 666,67 Cost of sales – BigCat Ltd 66 666,67 Elimination of the unrealised profit included in the opening inventory (400 000 x 20/120) Cost of Sales – BigCat Ltd 58 333,33 Inventory...

FAC2602 Assignment 2 Semester 2 2022 FAC2602 Assignment 2 Semester 2 2022

FAC2602 Assignment 2 Semester 1 2022 Disclaimer Extreme care has been used to create this document, however the contents are provided “as is” without any representations or warranties, express or implied. This document is to be used for comparison, research and reference purposes ONLY. No part of this document may be reproduced, resold or transmitted in any form or by any means without prior written permission from the author. DOCUMENT PREVIEW PART A Draft the following pro-forma c...

FAC2602 ASSIGNMENT 2 SOLUTIONS SEMESTER 2 2022. Selected Accounting Standards And Simple Group Structures. Draft the following pro-forma consolidation journal entries of the IWP Ltd Group for the year ended 31 August 2022, after taking the above-mentioned information into account: (a) Elimination of the unrealised profit included in the opening and closing inventory DR CR Retained Earnings – BigCat Ltd 66 666,67 Cost of sales – BigCat Ltd 66 666,67 Elimination of the unrealised profi...

FAC2602 ASSIGNMENT 2 SEMESTER 2 2022. Draft the following pro-forma consolidation journal entries of the IWP Ltd Group for the year ended 31 August 2022, after taking the above-mentioned information into account: (a) Elimination of the unrealised profit included in the opening and closing inventory DR CR Retained Earnings – BigCat Ltd 66 666,67 Cost of sales – BigCat Ltd 66 666,67 Elimination of the unrealised profit included in the opening inventory (400 000 x 20/120) Cost of Sale...

FAC2602 ASSIGNMENT 2 SEMESTER 2 2022. Draft the following pro-forma consolidation journal entries of the IWP Ltd Group for the year ended 31 August 2022, after taking the above-mentioned information into account: (a) Elimination of the unrealised profit included in the opening and closing inventory DR CR Retained Earnings – BigCat Ltd 66 666,67 Cost of sales – BigCat Ltd 66 666,67 Elimination of the unrealised profit included in the opening inventory (400 000 x 20/120) Cost of Sale...

FAC2602 ASSIGNMENT 2 SEMESTER 1 2022. Profit on sale of machinery (Begonia Ltd) (230 000 − 150 000) Machinery (Daisy Ltd) Accumulated Depreciation: (Daisy Ltd) (80 000 * 20% * 9 ) 12 Depreciation (Begonia Ltd) 80 000 12 000 80 000 12 000 (b) Cost of Sales (Daisy Ltd) [(680 000 + 90 000) * 25 )] 125 Inventory (Begonia Ltd) 154 000 154 000 S - The study-notes marketplace Downloaded by: Masters | Distribution of this document is illegal S - The study-notes marketplace For academi...

FAC2602 Learning Unit 9 2022. FAC2602 - Selected Accounting Standards And Simple Group Structures. The following are the condensed financial statements of P Ltd and its subsidiary, S Ltd: STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 20.7 P Ltd S Ltd R R ASSETS Property, plant and equipment Land at cost price 100 000 80 000 Plant at carrying amount 40 000 20 000 Investment in S Ltd at fair value 75 000 ordinary shares (cost price: R120 000) 120 000 - 20 000 preference shares (co...