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FAC2601 ASSIGNMENT 4 FOR 1ST SEM 2025

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2024/2025 Written for academic year
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University Of South Africa (Unisa)
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Financial Accounting for Companies (FAC2601)
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FAC2601 ASSIGNMENT 4 FOR 1ST SEM 2025

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FAC2601 ASSIGNMENT 4
FOR SEMESTER 1 2025




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,Question 1
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Question text
Mngxongo Ltd was a state-owned company (as defined by the Public Finance Management
Act (PFMA) that provided electricity. During the current financial year ending 31 December
2023, Mngxongo Ltd was privatised.
The company has a Public Interest Score of 250 and its annual financial statements are
being compiled independently.
Required:
The entity is classified as:




1.
Non-profit company;


2.
State Owned Company (SOC).


3.
Public company not listed on an exchange;


4.
Personal liability company;

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The issued share capital of PLC (Pty) Ltd on 1 March 2024, consist of:
R
Ordinary Share Capital 1 750 000
All the ordinary shares were originally issued at R3,50 each no additional shares were issued
up to the beginning of the current financial year.
During the current financial year ended on 28 February 2025, a further 15 000 ordinary
shares were issued. At the end of the current financial year the directors decided to make a
capitalisation issue of one ordinary share for every four ordinary shares held at R2,25 per
share.
Required:
What is the number of capitalisation shares issued during the 2025 financial year?




1.
R132 750


2.
R125 000


3.
R125 550


4.
R128 750

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