FAC2602 Selected Accounting Standards and Simple Group Structures

FAC2602 Learning Unit 6 2022. The following are the trial balances of Sandy Ltd and South Ltd for the year ended 31 December 20.2: Sandy Ltd R South Ltd R Share capital - ordinary shares (800 000/355 000 shares) (800 000) (355 000) Retained earnings - 1 January 20.2 (480 000) (120 000) Gross profit (422 700) (166 200) Dividends received - 31 December 20.2 (23 800) - Auditors' remuneration 8 500 5 000 Depreciation 102 000 42 000 Staff costs 95 000 35 000 Interest paid on bank ove...

FAC2602 Learning Unit 5 Summary Notes 2022. The following represent the abridged financial statements of X Ltd and its subsidiary, Y Ltd: STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 20.9 X Ltd Y Ltd R R ASSETS Property, plant and equipment 200 000 220 000 Investment in Y Ltd – 30 000 ordinary shares at fair value (cost price: R152 500) 152 500 – Trade and other receivables 50 500 80 000 Bank 27 000 45 000 430 000 345 000 3 EQUITY AND LIABILITIES Share capital – ordin...

FAC2602 Learning Unit 1 Summary 2022. BUSINESS COMBINATION, PARENT AND SUBSIDIARIES Over the years, the tendency in the business world has been to form bigger and bigger enterprises. Sole proprietors combined to form partnerships, which in turn amalgamated to form yet bigger partnerships. However, these bigger partnerships posed one problem: not all the partners were equally involved. Some partners merely contributed capital, whereas others were more actively involved in managing the enter...

FAC2602 Assignment 1 semester 2 2022. Select the correct statement regarding shareholding and control within group structures: a. Control of another company is obtained only when the investor holds more than 50% of the shareholding. b. A percentage holding of 48% in the investee will grant the investor the right to have control. c. A group of companies is formed only when the parent and the subsidiary agree about the parent’s exposure to variable returns and the right to control those ...

FAC2602 ASSIGNMENT 2 SEMESTER 1 2022. Selected Accounting Standards And Simple Group Structures. Profit on sale of machinery (Begonia Ltd) (230 000 − 150 000) Machinery (Daisy Ltd) Accumulated Depreciation: (Daisy Ltd) (80 000 * 20% * 9 ) 12 Depreciation (Begonia Ltd) 80 000 12 000 80 000 12 000 (b) Cost of Sales (Daisy Ltd) [(680 000 + 90 000) * 25 )] 125 Inventory (Begonia Ltd) 154 000 154 000 S - The study-notes marketplace Downloaded by: Masters | Distribution of this docume...

FAC2602 ASSIGNMENT 2 SEMESTER 1 2022. Profit on sale of machinery (Begonia Ltd) (230 000 − 150 000) Machinery (Daisy Ltd) Accumulated Depreciation: (Daisy Ltd) (80 000 * 20% * 9 ) 12 Depreciation (Begonia Ltd) 80 000 12 000 80 000 12 000 (b) Cost of Sales (Daisy Ltd) [(680 000 + 90 000) * 25 )] 125 Inventory (Begonia Ltd) 154 000 154 000 S - The study-notes marketplace Downloaded by: Masters | Distribution of this document is illegal S - The study-notes marketplace For academic...

FAC2602-Selected Accounting Standards And Simple Group Structures Assignment 1 semester 2 2022. QUESTION 1 Select the correct statement regarding shareholding and control within group structures: a. Control of another company is obtained only when the investor holds more than 50% of the shareholding. b. A percentage holding of 48% in the investee will grant the investor the right to have control. c. A group of companies is formed only when the parent and the subsidiary agree about the par...

FAC2602-Selected Accounting Standards And Simple Group Structures Assignment 1 semester 2 2022. QUESTION 1 Select the correct statement regarding shareholding and control within group structures: a. Control of another company is obtained only when the investor holds more than 50% of the shareholding. b. A percentage holding of 48% in the investee will grant the investor the right to have control. c. A group of companies is formed only when the parent and the subsidiary agree about the par...

FAC2602-Selected Accounting Standards And Simple Group Structures Assignment 1 semester 2 2022. QUESTION 1 Select the correct statement regarding shareholding and control within group structures: a. Control of another company is obtained only when the investor holds more than 50% of the shareholding. b. A percentage holding of 48% in the investee will grant the investor the right to have control. c. A group of companies is formed only when the parent and the subsidiary agree about the par...