15748952
FAC2602 - Assessment 4
Question 1:
Journal (a) R R
DR CR
Share capital 2,500,000.00
Preference share capital 400,000.00
Retained earnings 650,700.00
Revaluation surplus (11,700,000 + 350,000) 12,050,000.00
Goodwill 170,000.00
Investment in Farm 180,000.00
Non- controling interests ((2,500,000 + 650,700 + 11,700,000)) + (400,000) 15,250,700.00
Journal (b)
Revaluation surplus 380,000.00
NCI 380,000.00
Journal (c)
Profit on sale of asset/Other income - Fresh Ltd 117,900.00
Property, plant and equipment/containers - Carry Ltd ((21,000 x 3) - 54,900) 117,900.00
Accumulated depreciation - Carry Ltd 11,790.00
Depreciation - Fresh Ltd [2022: (117,900 x 10% x 2/12)] [2023: (117,900 x
10% x 12/12)] 11,790.00
Journal (d)
Non-controling interest 58,800.00
Dividends payable - Fresh Ltd (210,000 x 0.28c) 58,800.00
FAC2602 - Assessment 4
Question 1:
Journal (a) R R
DR CR
Share capital 2,500,000.00
Preference share capital 400,000.00
Retained earnings 650,700.00
Revaluation surplus (11,700,000 + 350,000) 12,050,000.00
Goodwill 170,000.00
Investment in Farm 180,000.00
Non- controling interests ((2,500,000 + 650,700 + 11,700,000)) + (400,000) 15,250,700.00
Journal (b)
Revaluation surplus 380,000.00
NCI 380,000.00
Journal (c)
Profit on sale of asset/Other income - Fresh Ltd 117,900.00
Property, plant and equipment/containers - Carry Ltd ((21,000 x 3) - 54,900) 117,900.00
Accumulated depreciation - Carry Ltd 11,790.00
Depreciation - Fresh Ltd [2022: (117,900 x 10% x 2/12)] [2023: (117,900 x
10% x 12/12)] 11,790.00
Journal (d)
Non-controling interest 58,800.00
Dividends payable - Fresh Ltd (210,000 x 0.28c) 58,800.00
