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Exam (elaborations)

FAC3703 Assignment 1 semester 1 & 2 2021

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This document contains answers for FAC3703 assignment 1 for semester 1 & 2 of 2021.

Institution
University Of South Africa (Unisa)
Course
FAC3703 - Specific Financial Reporting








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FAC3703 - Specific Financial Reporting
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FAC3703
ASSIGNMENT 1 SEMESTER 1 & 2 2021
UNIQUE NUMBER: 823518

(a) Notes to the Financial Statements of Performance Ltd for the year ended 28
February 2021

1. Profit before tax
Profit before tax includes the following items:
R
Incomes
Profit on sale of equipment 3 250 000
Finance income (𝑖𝑖) (831 + 238 811) 1 070 795

Expenses
Depreciation (𝑖𝑖) 833 333

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