8/18/26, 12:40 PM Assessment 1: Attempt review | PDP_2021
Status Finished FAC2602 ASSIGNMENT 1 SEMESTER 2 2026
DISTINCTION GUARANTEED
Started Tuesday, 18 August 2026, 12:07 PM ALL QUESTION ANSWERED
COMPILED BY EXPERT ACADEMY AND SMART TUTO
Completed Tuesday, 18 August 2026, 12:38 PM WHATSAPP 064 516 7275
Duration 31 mins 1 sec
BOOK NEXT ASSIGNMENT ON WHATSAPP 06451672
Question 1 FAC2602 ASSIGNMENT 1 SEMESTER 2 2026
DISTINCTION GUARANTEED
Complete ALL QUESTION ANSWERED
COMPILED BY EXPERT ACADEMY AND SMART TUTO
WHATSAPP 064 516 7275
What is the total cost of sales in the Consolidated statement of profit or loss and BOOK NEXT ASSIGNMENT ON WHATSAPP 06451672
other comprehensive income for the year ended 30 September 2026?
1. R855 000
2. R2 655 000 FAC2602 ASSIGNMENT 1 SEMESTER 2 2026
DISTINCTION GUARANTEED
ALL QUESTION ANSWERED
3. R1 800 000 COMPILED BY EXPERT ACADEMY AND SMART TUTOR
WHATSAPP 064 516 7275
4. R2 441 250
BOOK NEXT ASSIGNMENT ON WHATSAPP 0645167275
Question 2
Complete
What does the Property, Plant and Equipment in the Hintsa Limited group
consolidated statement of financial position for 30 September 2026 amount to:
1. R2 392 500
2. R1 650 000
3. R2 206 875
4. R2 482 500
Question 3
Complete
What is the pro forma consolidation journal entry to eliminate the intragroup
debentures balance at 30 September 2026?
1.
Dr Cash R67 500; Cr Debentures R67 500
2.
No entry is required as the debenture balance is eliminated.
3. Dr Debentures R67 500; Cr Investment in debentures Ltd R67 500
4. Dr Investment in debentures R67 500; Cr Debentures R67 500
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=482511&cmid=73060 1/14
,8/18/26, 12:40 PM Assessment 1: Attempt review | PDP_2021
Question 4
Complete
If Khawuta Ltd was a wholly-owned subsidiary acquired on 1 October 2025, and the
consolidated financial statements were prepared for 30 September 2026, what
would be the treatment of Khawuta Ltd 's R405 000 profit for the year in the
consolidated statement of profit or loss?
1. It would be shown as a separate line item, "Subsidiary Profit" in the
consolidated statement of profit or loss.
2. The R405 000 would be allocated only to Hintsa Ltd.
3.
The composition of R405 000 would be fully included, line by line item in
the group's statement of profit or loss.
4.
The entire R405 000 profit for the year would be eliminated
Question 5
Complete
What is the non-controlling interest amount arising from the revaluation of the
building at acquisition ?
1. R67 500
2. RNil
3. R90 000
4. R22 500
Question 6
Complete
Assuming Hintsa Limited acquired Khawuta Limited for a consideration of R691
875, what does the Goodwill in the consolidated statement at 30 September 2026 of
financial position amount to:
1. R231 094
2. RNil
3. R308 125
4. R240 625
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=482511&cmid=73060 2/14
,8/18/26, 12:40 PM Assessment 1: Attempt review | PDP_2021
Question 7
Complete
Why is it necessary to prepare consolidated financial statements for a group of
companies?
1. To present the financial position and performance of the parent and
subsidiary as a single economic entity.
2.
To ensure that all inter-company transactions are included in the group’s
reported profit.
3.
To comply with the parent’s moral obligation to prepare financial
statements for external users.
4.
To comply with the subsidiary’s legal obligation to prepare financial
statements for external users.
Question 8
Complete
Assuming that all assets and liabilities of Khawuta Ltd were considered to be at
their fair value at the date of acquisition, what is the non-controlling interest amount
at date of acquisition:
1. R101 250
2. R182 875
3. R230 625
4. R187 312,5
Question 9
Complete
Why is only the parent company's share capital included in consolidated financial
statements?
1. To represent the ownership structure of the parent in the group.
2. To avoid overstating the share capital of the group
3. To simplify the consolidation process of the group
4. To present balances that relates to transactions with external parties only,
in the group.
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=482511&cmid=73060 3/14
, 8/18/26, 12:40 PM Assessment 1: Attempt review | PDP_2021
Question 10
Complete
What is Hintsa Ltd's percentage interest in Khawuta Ltd, and what is the non-
controlling interest (NCI) percentage?
1. Hintsa Limited: 60%, NCI: 40%
2. Hintsa Limited: 75%, NCI: 25%
3. Hintsa Limited: 100%, NCI: 0%
4. Hintsa Limited: 70%, NCI: 30%
Question 11
Complete
The Inventories in the consolidated statement of financial position amounts to:
1. R1 005 000
2.
R903 750
3. R 405 000
4. R 600 000
Question 12
Complete
How are post-acquisition profits of a subsidiary treated in the consolidated financial
statements?
1.
Post-acquisition profits are treated as retained earnings in the parent
company’s individual financial statements.
2.
Post-acquisition profits are fully allocated to the parent company,
regardless of the parent’s ownership percentage.
3. Post-acquisition profits are allocated between the parent company and
non-controlling interest (NCI) based on their respective ownership
percentages.
4.
Post-acquisition profits remain entirely within the subsidiary’s financial
statements and are not consolidated.
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=482511&cmid=73060 4/14
Status Finished FAC2602 ASSIGNMENT 1 SEMESTER 2 2026
DISTINCTION GUARANTEED
Started Tuesday, 18 August 2026, 12:07 PM ALL QUESTION ANSWERED
COMPILED BY EXPERT ACADEMY AND SMART TUTO
Completed Tuesday, 18 August 2026, 12:38 PM WHATSAPP 064 516 7275
Duration 31 mins 1 sec
BOOK NEXT ASSIGNMENT ON WHATSAPP 06451672
Question 1 FAC2602 ASSIGNMENT 1 SEMESTER 2 2026
DISTINCTION GUARANTEED
Complete ALL QUESTION ANSWERED
COMPILED BY EXPERT ACADEMY AND SMART TUTO
WHATSAPP 064 516 7275
What is the total cost of sales in the Consolidated statement of profit or loss and BOOK NEXT ASSIGNMENT ON WHATSAPP 06451672
other comprehensive income for the year ended 30 September 2026?
1. R855 000
2. R2 655 000 FAC2602 ASSIGNMENT 1 SEMESTER 2 2026
DISTINCTION GUARANTEED
ALL QUESTION ANSWERED
3. R1 800 000 COMPILED BY EXPERT ACADEMY AND SMART TUTOR
WHATSAPP 064 516 7275
4. R2 441 250
BOOK NEXT ASSIGNMENT ON WHATSAPP 0645167275
Question 2
Complete
What does the Property, Plant and Equipment in the Hintsa Limited group
consolidated statement of financial position for 30 September 2026 amount to:
1. R2 392 500
2. R1 650 000
3. R2 206 875
4. R2 482 500
Question 3
Complete
What is the pro forma consolidation journal entry to eliminate the intragroup
debentures balance at 30 September 2026?
1.
Dr Cash R67 500; Cr Debentures R67 500
2.
No entry is required as the debenture balance is eliminated.
3. Dr Debentures R67 500; Cr Investment in debentures Ltd R67 500
4. Dr Investment in debentures R67 500; Cr Debentures R67 500
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=482511&cmid=73060 1/14
,8/18/26, 12:40 PM Assessment 1: Attempt review | PDP_2021
Question 4
Complete
If Khawuta Ltd was a wholly-owned subsidiary acquired on 1 October 2025, and the
consolidated financial statements were prepared for 30 September 2026, what
would be the treatment of Khawuta Ltd 's R405 000 profit for the year in the
consolidated statement of profit or loss?
1. It would be shown as a separate line item, "Subsidiary Profit" in the
consolidated statement of profit or loss.
2. The R405 000 would be allocated only to Hintsa Ltd.
3.
The composition of R405 000 would be fully included, line by line item in
the group's statement of profit or loss.
4.
The entire R405 000 profit for the year would be eliminated
Question 5
Complete
What is the non-controlling interest amount arising from the revaluation of the
building at acquisition ?
1. R67 500
2. RNil
3. R90 000
4. R22 500
Question 6
Complete
Assuming Hintsa Limited acquired Khawuta Limited for a consideration of R691
875, what does the Goodwill in the consolidated statement at 30 September 2026 of
financial position amount to:
1. R231 094
2. RNil
3. R308 125
4. R240 625
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=482511&cmid=73060 2/14
,8/18/26, 12:40 PM Assessment 1: Attempt review | PDP_2021
Question 7
Complete
Why is it necessary to prepare consolidated financial statements for a group of
companies?
1. To present the financial position and performance of the parent and
subsidiary as a single economic entity.
2.
To ensure that all inter-company transactions are included in the group’s
reported profit.
3.
To comply with the parent’s moral obligation to prepare financial
statements for external users.
4.
To comply with the subsidiary’s legal obligation to prepare financial
statements for external users.
Question 8
Complete
Assuming that all assets and liabilities of Khawuta Ltd were considered to be at
their fair value at the date of acquisition, what is the non-controlling interest amount
at date of acquisition:
1. R101 250
2. R182 875
3. R230 625
4. R187 312,5
Question 9
Complete
Why is only the parent company's share capital included in consolidated financial
statements?
1. To represent the ownership structure of the parent in the group.
2. To avoid overstating the share capital of the group
3. To simplify the consolidation process of the group
4. To present balances that relates to transactions with external parties only,
in the group.
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=482511&cmid=73060 3/14
, 8/18/26, 12:40 PM Assessment 1: Attempt review | PDP_2021
Question 10
Complete
What is Hintsa Ltd's percentage interest in Khawuta Ltd, and what is the non-
controlling interest (NCI) percentage?
1. Hintsa Limited: 60%, NCI: 40%
2. Hintsa Limited: 75%, NCI: 25%
3. Hintsa Limited: 100%, NCI: 0%
4. Hintsa Limited: 70%, NCI: 30%
Question 11
Complete
The Inventories in the consolidated statement of financial position amounts to:
1. R1 005 000
2.
R903 750
3. R 405 000
4. R 600 000
Question 12
Complete
How are post-acquisition profits of a subsidiary treated in the consolidated financial
statements?
1.
Post-acquisition profits are treated as retained earnings in the parent
company’s individual financial statements.
2.
Post-acquisition profits are fully allocated to the parent company,
regardless of the parent’s ownership percentage.
3. Post-acquisition profits are allocated between the parent company and
non-controlling interest (NCI) based on their respective ownership
percentages.
4.
Post-acquisition profits remain entirely within the subsidiary’s financial
statements and are not consolidated.
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=482511&cmid=73060 4/14
