MAC3761 ASSIGNMENT 1 FIRST SEMESTER 2020

FAC3704 ASSIGNMENT 1 – SEMESTER 1 OF
2020
1. 1

R
Sales – Solar Ltd 841 600
Sales – Panel Ltd 700 000
Intragroup Sales (110 000)
Revenue 1 431 600


2. 5

R
Cost of Sales – Solar Ltd 520 000
Cost of Sales – Panel Ltd 350 000
Intragroup Sales (110 000)
Unrealised profit in closing Inventory (𝑖) 5 000
Revenue 765 000


Calculations

i. Unrealised profit in closing inventory

R
25 10 000
Unrealised profit (50 000 ∗ )
125
(5 000)
Inventory write down (50 000 − 45 000)
Unrealised profit 5 000


3. 2

4. 3