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  • University Of South Africa (Unisa)
  • Financial Accounting for Companies (FAC2601)
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Exam (elaborations)

Fac2601 Assessment 2 Sem 2 Of 2026 Expected Solutions

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Financial Accounting for Companies (FAC2601)
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THIS DOCUMENT CONTAINS FAC2601 ASSESSMENT 2 SEM 2 OF 2026 EXPECTED SOLUTIONS. USE IT AS A GUIDE TO HELP YOU OBTAIN A TOP MARK.

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EXPECTED SOLUTIONS




TUTORING FOR FAC,MAC,ECS,STA,DSC,TAX, FIN ,INV,QMI, BNU,MNG,MNB,BSM, CLA



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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

(a) Property, Plant and Equipment (Motor Vehicles Column Only)

Description Motor Vehicles (R)


Carrying amount at 1 July 2024 204 285


Cost 440 000


Accumulated depreciation (235 715)



Movements during the year


Additions 336 000


Disposals at carrying amount (205 715 - 119 715) (86 000)


Depreciation for the year (24 000 + 46 857 + 28 000) (98 857)



Carrying amount at 30 June 2025 355 428


Cost (440 000 - 205 715 + 336 000) 570 285


Accumulated depreciation (235 715 - 119 715 + 98 857) (214 857)

Workings for Motor Vehicles:

 Depreciation on sold vehicle: (205 715 cost × 20% × 7/12 months) = 24 000.

 Accumulated depreciation on sold vehicle: (95 715 opening + 24 000 current) =
119 715.

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