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Exam (elaborations)

FAC2602 Assignment 1 Semester 1 2023

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FAC2602 Assignment 1 Semester % TRUSTED workings, explanations and solutions. 1 for assistance...... .......................................

Institution
University Of South Africa
Course
FAC2602 - Selected Accounting Standards And Simple Group Structures









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Unknown Group Statements
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Institution
University of South Africa
Course
FAC2602 - Selected Accounting Standards And Simple Group Structures
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FAC2602
ASSIGNMENT
2 SEMESTER 1
OF 2022
UNIQUE NUMBER: 221731

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FAC2602 ASSIGNMENT 2 – SEMESTER 1 OF
2022




PART A

DR CR
R R
(a) Profit on sale of machinery (Begonia Ltd) (230 000 − 150 000) 80 000
Machinery (Daisy Ltd) 80 000
9
Accumulated Depreciation: (Daisy Ltd) (80 000 * 20% * ) 12 000
12
12 000
Depreciation (Begonia Ltd)

25
(b) Cost of Sales (Daisy Ltd) [(680 000 + 90 000) * )] 154 000
125
154 000
Inventory (Begonia Ltd)




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