FAC2601 Financial Accounting for Companies (FAC2601)

Recent exam questions and answers and summarized notes for exam preparation.

Financial Accounting for Companies FAC2601 Semesters 1 and 2 Department of Financial Accounting The following balances were extracted from the trial balance of Bell Crest Ltd on 30 June 2020: Additional information R Land at cost 1, 2 800 000 Buildings at cost 1, 2 1 200 000 Plant and machinery at carrying amount (1 July 2019) Furniture and equipment at cost 2, 3, 5 4, 5 2 100 000 600 000 - Accumulated depreciation on furniture and equipment (1 July 2019) 4, 5 (120 000) Additi...

FAC2601-Financial Accounting For Companies Assignment 2 Semester 1 2022. QUESTION 1 BELL CREST LTD NOTES TO NON-CURRENT ASSETS Property, plant and equipment Land Buildings Plant and machinery Delivery vehicle Furniture and equipment Carrying amount at the beginning of the year 800 000 1 025 000 2 100 000 55 000 480 000 Gross carrying amount 800 000 1 200 000 3 733 333 (5) 84 615 (12) 600 000 Accumulated depreciation - (175 000) (2) (1 633 333) (6) (29 615) (13) (120 000) Addi...

FAC2601 ASSIGNMENT 2 SEMESTER 1 - 2022 | Prepare the “Asset” section of the Statement of financial position of Laduma Ltd as at 30 June 2019, in compliance with International Financial Reporting Standards (IFRS). 3 LADUMA LTD STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 Assets R Non-current Assets Property Plant and Equipment 4 324 875 Investment in Subsidiary 45 000 Current Assets Inventory 723 000 Trade and Other Receivables