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FAC2602 ASSIGNMENT 1 – SEMESTER 1 OF
2022
1. C


Select the correct statement. The process of consolidating the financial statements of the parent
consists of the following steps amongst others:



a.

Recognize goodwill in the statement of financial position of the parent.


b.

Eliminate the goodwill that arises in the group.



c.

Eliminate the investment made by the parent in the subsidiary from the financial statements of
the group.



d.

Recognize non-controlling interests in the statement of financial position of the subsidiary.




1
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, 2. D (1 496 600 + 848 200) = 𝑅2 344 800


Current assets amounts to:


a.

R 848 200


b.

R1 496 600


c.

R2 276 500


d.

R2 344 800




2
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