FAC2602
Together We Pass
Exam Pack 2018
Written by Loret Jenkinson
www.togetherwepass.co.za
,Welcome
My name is Loret Jenkinson, I am currently still an Unisa student
finishing my degree. I love accounting and have a passion for
numbers.
Table of Contents
Welcome ......................................................................................................................................................... 1
May/ June 2015 Memo ...................................................................................................................................... 2
May/ June 2016 Memo ...................................................................................................................................... 6
October/ November 2016 Memo ..................................................................................................................... 14
May/ June 2017 Memo .................................................................................................................................... 17
Thank you ..................................................................................................................................................... 23
© 2018 Together We Pass. All rights
reserved.
pg. 1
, May/ June 2015 Memo
QUESTION 1
(a) DR CR
Ordinary share capital 720 000
Retained earnings 12 000
Goodwill 10 800
NCI 292 800
Investment in Tide ltd (MHG) 450 000
(b) Interest received (MHG) 11 000
Interest paid (Tide) 11 000
(c) Accumulated depreciation (Tide) 8 334
Retained earnings (MHG) 4 167
Depreciation (MHG) 4 167
(d) Preference dividends received (MHG) 7 920
NCI 6 480
Preference dividends paid (Tide) 14 400
(e) Current account with Tide 54 000
Dividends received (MHG) 54 000
Dividends paid (Tide) 54 000
Current account with MHG 54 000
CALCULATIONS
Analysis of the owners’ equity of Tide ltd
Total MHG 60% NCI
At since
At acquisition
Share capital 720 000 432 000 288 00
Retained earnings 12 000 7 200 4 800
732 000 439 200 292 800
Purchase difference 10 800 10 800
Consideration and NCI 450 000
(2) Interest on loan (11% x 300 000) x 4/14
11 000
© 2018 Together We Pass. All rights
reserved.
pg. 2
Together We Pass
Exam Pack 2018
Written by Loret Jenkinson
www.togetherwepass.co.za
,Welcome
My name is Loret Jenkinson, I am currently still an Unisa student
finishing my degree. I love accounting and have a passion for
numbers.
Table of Contents
Welcome ......................................................................................................................................................... 1
May/ June 2015 Memo ...................................................................................................................................... 2
May/ June 2016 Memo ...................................................................................................................................... 6
October/ November 2016 Memo ..................................................................................................................... 14
May/ June 2017 Memo .................................................................................................................................... 17
Thank you ..................................................................................................................................................... 23
© 2018 Together We Pass. All rights
reserved.
pg. 1
, May/ June 2015 Memo
QUESTION 1
(a) DR CR
Ordinary share capital 720 000
Retained earnings 12 000
Goodwill 10 800
NCI 292 800
Investment in Tide ltd (MHG) 450 000
(b) Interest received (MHG) 11 000
Interest paid (Tide) 11 000
(c) Accumulated depreciation (Tide) 8 334
Retained earnings (MHG) 4 167
Depreciation (MHG) 4 167
(d) Preference dividends received (MHG) 7 920
NCI 6 480
Preference dividends paid (Tide) 14 400
(e) Current account with Tide 54 000
Dividends received (MHG) 54 000
Dividends paid (Tide) 54 000
Current account with MHG 54 000
CALCULATIONS
Analysis of the owners’ equity of Tide ltd
Total MHG 60% NCI
At since
At acquisition
Share capital 720 000 432 000 288 00
Retained earnings 12 000 7 200 4 800
732 000 439 200 292 800
Purchase difference 10 800 10 800
Consideration and NCI 450 000
(2) Interest on loan (11% x 300 000) x 4/14
11 000
© 2018 Together We Pass. All rights
reserved.
pg. 2
