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FAC3702 EXAM PACK.pdf
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FAC3702EXAM PACK
, lOMoARcPSD|18222662
FAC3702 exampack 2015 - Fac3761 practice materials
International group and financial accounting (University of South Africa)
, lOMoARcPSD|18222662
LUCIANO SCHOOL OF LAW & SOCIAL SCIENCE [LSLSS]
<Inspired to impact with a difference=
Page |1
Contents
OCTOBER/NOVEMBER 2011 ..................................................................................................................... 2
MAY / JUNE 2012 .................................................................................................................................... 18
OCTOBER / NOVEMBER 2012 ................................................................................................................. 33
OCTOBER / NOVEMBER 2013 EXAM PACK ............................................................................................. 45
MAY/JUNE 2014 ...................................................................................................................................... 54
, lOMoARcPSD|18222662
LUCIANO SCHOOL OF LAW & SOCIAL SCIENCE [LSLSS]
<Inspired to impact with a difference=
Page |2
OCTOBER/NOVEMBER 2011
SOLUTION 1: PROPERTY, PLANT ND EQUIPMENT, INVESTMENT PROPERTY,
IMPAIRMENT OF ASSETS, NOW CURRENT ASSETS HELD FOR SALE AN DISCOUNUED
OPERATIONS
1. PROP INVEST LTD
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE
YEAR ENDED 30 JUNE 2011
DISCONTINUED OPERATIONS
R
Revenue (98 000 + 87 000) 185 000
Other income (c3) 29 000
Other Expenses (47 000 + 32 000) (79 000)
Finance costs (75 000 + 28 000) (103 000)
Profit before tax 32 000
Income tax expenses (c4) (6248)
Profit for the year – discontinued operation 25752
2. PROP – INVEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011
2.1. PROPERTY, PLANT AND EQUIPMENT
Land Buildings Vehicles
Carrying amount – 1 July 2010 300 000 687 143 -
Cost 300 000 700 000 -
Accumulated Depreciation (- ) 6(i) -
(12857 )
Additions - - 150 000
Depreciation - 6(v) 7(i)
(18045) (8167)
Impairment loss (7iii) - - (21833)
www.lslss.co.za
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