FAC2602 Selected Accounting Standards And Simple Group Structures (FAC2602)

FAC2602 ASSIGNMENT 2 SEMESTER 2 2022. Draft the following pro-forma consolidation journal entries of the IWP Ltd Group for the year ended 31 August 2022, after taking the above-mentioned information into account: (a) Elimination of the unrealised profit included in the opening and closing inventory DR CR Retained Earnings – BigCat Ltd 66 666,67 Cost of sales – BigCat Ltd 66 666,67 Elimination of the unrealised profit included in the opening inventory (400 000 x 20/120) Cost of Sale...

FAC2602 ASSIGNMENT 2 SEMESTER 1 2022. Profit on sale of machinery (Begonia Ltd) (230 000 − 150 000) Machinery (Daisy Ltd) Accumulated Depreciation: (Daisy Ltd) (80 000 * 20% * 9 ) 12 Depreciation (Begonia Ltd) 80 000 12 000 80 000 12 000 (b) Cost of Sales (Daisy Ltd) [(680 000 + 90 000) * 25 )] 125 Inventory (Begonia Ltd) 154 000 154 000 S - The study-notes marketplace Downloaded by: Masters | Distribution of this document is illegal S - The study-notes marketplace For academi...

FAC2602 ASSIGNMENT 2 SEMESTER 2 2022. Draft the following pro-forma consolidation journal entries of the IWP Ltd Group for the year ended 31 August 2022, after taking the above-mentioned information into account: (a) Elimination of the unrealised profit included in the opening and closing inventory DR CR Retained Earnings – BigCat Ltd 66 666,67 Cost of sales – BigCat Ltd 66 666,67 Elimination of the unrealised profit included in the opening inventory (400 000 x 20/120) Cost of Sale...

FAC2602 ASSIGNMENT 2 SEMESTER 1 2022. Profit on sale of machinery (Begonia Ltd) (230 000 − 150 000) Machinery (Daisy Ltd) Accumulated Depreciation: (Daisy Ltd) (80 000 * 20% * 9 ) 12 Depreciation (Begonia Ltd) 80 000 12 000 80 000 12 000 (b) Cost of Sales (Daisy Ltd) [(680 000 + 90 000) * 25 )] 125 Inventory (Begonia Ltd) 154 000 154 000 S - The study-notes marketplace Downloaded by: Masters | Distribution of this document is illegal S - The study-notes marketplace For academic...

FAC2602 EXAM PACK 2023 LATEST QUESTIONS WITH ANSWERS. QUESTION 1 (16 marks) (19 minutes) Valee Ltd is a manufacturer of luxury gift bags. Rancho Ltd is a retailer in the same industry. Valee Ltd decided to acquire shares in Rancho Ltd on 1 October 2019 as part of its growth and expansion strategy. The following items were extracted from the trial balances of Valee Ltd and Rancho Ltd on 30 September 2022: Credits Share capital - Ordinary shares (600 000 and 300 000 shares respectively) V...

Draft the following pro-forma consolidation journal entries of the IWP Ltd Group for the year ended 31 August 2022, after taking the above-mentioned information into account: (a) Elimination of the unrealised profit included in the opening and closing inventory DR CR Retained Earnings – BigCat Ltd 66 666,67 Cost of sales – BigCat Ltd 66 666,67 Elimination of the unrealised profit included in the opening inventory (400 000 x 20/120) Cost of Sales – BigCat Ltd 58 333,33 Inventory...

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FAC2602 EXAM PACK 2023

FAC2602 EXAM PACK 2023