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FAC2602 EXAM ANSWERS WRITTEN 18 MAY 2025 COMPLETE ANSWERS DISTINCTION GUARANTEED

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Course Selected Accounting Standards and Simple Group Structures (FAC2602)
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FAC2602 EXAM ANSWERS WRITTEN 18 MAY 2025 COMPLETE ANSWERS DISTINCTION GUARANTEED

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FAC2602 COMPLETE ANSWERS




COMPLETE ANSWERS




QUESTION 1: FULL SOLUTION (19 MARKS)
Net Assets at Acquisition:

Share capital = 720,000
Retained earnings = 2,185,000
Revaluation surplus = 1,265,000
Subtotal = 4,170,000
FV uplift (land) = 996,500 – 750,000 = 246,500
Total NAV = 4,416,500


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