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  • FAC2602 - Selected Accounting Standards and Simple Group Structures (FAC2602)
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Fac2602 Assignment 02 Of 2Nd Semester 2019

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FAC2602 - Selected Accounting Standards and Simple Group Structures (FAC2602)
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FAC2602 ASSIGNMENT 02 OF 2ND SEMESTER 2019 WITH EXPLAINED SOLUTIONS

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FAC2602

ASSIGNMENT 02 OF 2ND SEMESTER 2019



QUESTION 1

PART
A

Debit Credit NCI
R R
(a)
Revaluation
surplus 2100
Non-controlling
interest (SFP) 2100 2100

(b)
Income - sales(Pepper 7800
Ltd) 0
7800
Cost of sales(Salt Ltd) 0

Retained earnings(Pepper Ltd) 8000
Cost of sales(Pepper
Ltd) 8000
(R40000*25/125
)

Cost of sales(Pepper Ltd) 5000
Inventory(Salt
Ltd) 5000
(25000*25/125)

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