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FAC2602 ASSIGNMENT 2 SEMESTER 2 2022

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FAC2602 ASSIGNMENT 2 SEMESTER 2 2022 Questions and 100% TRUSTED Solutions

Institution
University Of South Africa (Unisa)
Module
FAC2602 - Selected Accounting Standards And Simple Group Structures (FAC2602)

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PART A

(a) Elimination of the unrealised profit included in the opening and closing inventory


DEBIT CREDIT
Retained earnings – BigCat Ltd R66 667
Cost of sales – BigCat Ltd (R400 000×20%) R66 667
Elimination of unrealised profit in opening inventory

Cost of sales – BigCat Ltd R58 333
Inventory – IWP Ltd (20/120×350 000) R58 333
Elimination of unrealized profits in closing inventories
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Institution
University of South Africa (Unisa)
Module
FAC2602 - Selected Accounting Standards And Simple Group Structures (FAC2602)
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Uploaded on
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Number of pages
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Written in
2022/2023
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Subjects

  • fac2602
  • 2022
  • assignment 2 semester 2

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