FAC2601 Financial Accounting And Reporting (FAC2601)
University of South Africa
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FAC2601 Assignment 2 Semester 2 2022
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FAC2601 Assignment 2 Semester 2 2022
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FAC2601_Graded_questions_with_solutions_GAAP
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FAC2601_Graded_questions_with_solutions_GAAP 
Solutions to GAAP : Graded Questions Leases 
Kolitz & Service, 2011 Chapter 20: Page 1 
Solution 20.1 
a) Discussion 
IAS 17, paragraph 10 provides the following situations where the classification of a lease 
agreement is in question: 
a) Does ownership of the building transfer to West Ltd by the end 
of the lease? No 
 No evidence of this is provided (assume no) 
b) Does West Ltd have an option to purchase the building at a 
price expected to be...
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FAC2601 Assignment 2 Semester 1 2022
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FAC2601 Assignment 2 Semester 1 
2022 
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QUESTION 1 
BELL CREST LTD 
NOTES TO NON-CURRENT ASSETS 
Property, plant and equipment 
 Land Buildings 
 Plant and 
machinery 
 Delivery 
vehicle 
 Furniture 
and 
equipment 
Carrying amount at the 
beginning of the year 800 000 1 025 000 2 100 000 55 000 480 000 
Gross carrying amount 800 000 1 200 000 3 733 333 (5) 84 615 (12) 600 000 
Accumulated depreciation - (175 000)...
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FAC2601 ASSIGNMENT 1 SEMESTER 1
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FAC2601 
ASSIGNMENT 1 
SEMESTER 1 
2 
1. Which one of the following statements with regards to the Companies Act 71 of 
2008 is incorrect? 
1. Share certificates are non-negotiable documents and the shareholder has no 
power to sell his or her rights to additional shareholders; 
2. The capital of a company is not divisible, and it is therefore impractical to open a 
capital account for each member; 
3. A company is a legal entity that is incorporated in terms of the Companies Act 71 of 
2008 and...
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FAC2601 ASSIGNMENT 02 SEMESTER 1 & 2 2021 VERIFIED.
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FAC2601 
ASSIGNMENT 02 
SEMESTER 1 & 2 2021 
VERIFIED. 
PART A 
DILATA Ltd 
Statement of financial position as at 30 June 2020 
 
1. NOTE: PROPERTY, PLANT & EQUIPMENT 
 
Land Factory & 
Office 
buildings 
Machinery & 
Equipment 
Motor 
vehicles 
Total 
Balance at the 
beginning 
1 JUL 2019 
1 000 000 2 328 000 1 920 000 410 000 5 658 000 
Cost 1 000 000 2 400 000 3 000 000 645 715 7 045 715 
Accumulated 
depreciation 
- (72 000) (1 080 000) (235 715) (1 387 715) 
Revaluation 500 000 - - - 500 00...
Too much month left at the end of the money?
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FAC2601-SU2-Summary Notes
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The	Conceptual	 
Framework	for	 
Financial	Repor6ng	 
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FAC2601-SU2-Summary Notes Copyright Tabaldi Education 
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WHAT	IS	THE	FRAMEWORK?	 
Framework	Lecture	Video	1	 
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FAC26...
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FAC2601 EXAM PACK 2022
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FAC2601 EXAM PACK 2022 
FAC2601 - Financial Accounting And Reporting 
The following information regarding share capital in the accounting records of Mbaso Ltd was obtained 
on 28 February 2021: 
R 
Ordinary share capital at date of incorporation................................................................... 5 000 000 
Proceeds on 800 000 ordinary shares issued – 31 August 2020 ....................................... 1 200 000 
20 000 10% Cumulative preference shares ..........................
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FAC2601_LATEST_EXAM_PACK_2019.pdf.
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FAC2601_LATEST_EXAM_PACK_. 
FAC2601_LATEST_EXAM_PACK_.
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FAC2601 ASSIGNMENT 2 SEMESTER 1 - 2022
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FAC2601 ASSIGNMENT 2 SEMESTER 1 - 2022. 100% TRUSTED workings, explanations and solutions. Whatsapp 4 for assistance.
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