FAC2602 Selected Accounting Standards And Simple Group Structures (FAC2602)

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FAC2602 ASSIGNMENT 02 Semester 1 & 2. PART A a) ELIMINATION OF THE UNREALISED PROFIT INCLUDED IN THE OPENING AND CLOSING INVENTORY DEBIT CREDIT Cost of sales (Burgers-Eat) 7 500 Inventory (Travelwell) 7 500 Elimination of unrealised intragroup profit included in the closing inventory of Travelwell Ltd (25/125 x 37 500) Retained earnings (Burgers-Eat) 22 000 Cost of sales 22 000 Elimination of unrealised intragroup profit included in the opening inventory of Travelwell Ltd (25/125...

FAC2602 Assignment 1 Semester 1 2023 100% TRUSTED workings, explanations and solutions. WhatsApp 1 for assistance...... .......................................

FAC2602 Learning Unit 9 2022. Selected Accounting Standards And Simple Group Structures Learning_Unit. The following are the condensed financial statements of P Ltd and its subsidiary, S Ltd: STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 20.7 P Ltd S Ltd R R ASSETS Property, plant and equipment Land at cost price 100 000 80 000 Plant at carrying amount 40 000 20 000 Investment in S Ltd at fair value 75 000 ordinary shares (cost price: R120 000) 120 000 - 20 000 preference shares ...

FAC2602 Learning Unit 1 2022. Selected Accounting Standards And Simple Group Structures. The following is an example of such a group: 75% of the control by means of 75% of the share capital a) P Ltd is the parent. (P Ltd holds more than half of the issued share capital and it is assumed also more than half the voting rights in S Ltd.) b) S Ltd is the subsidiary. Where a parent is linked with a subsidiary to form a larger economic unit, it is customary to refer to the entity as a group. ...