Fac2601 2019 Study guides, Study notes & Summaries
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FAC2601 Assignment 2 Semester 2 Solutions 2022
- Exam (elaborations) • 10 pages • 2022
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FAC2601 Assignment 2 Semester 2 Solutions 2022 
FAC2601 - Financial Accounting And Reporting 
The following information was extracted from the accounting records of Sankofa Ltd on 
30 June 2020: 
 R 
Inventories (additional information 3) 305 300 
Trade and other receivables 220 000 
Trade and other payables 35 000 
Dividends payable 5 000 
Bank 23 000 
Retained earnings (30/06/2019) 49 800 
Long-term loan – Kwasi Ltd (additional information 4) 950 000 
Land at cost 1 000 000 
Buildings at cos...
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FAC2601 EXAM PACK 2022
- Exam (elaborations) • 172 pages • 2022
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FAC2601 EXAM PACK 2022. 
FAC2601 - Financial Accounting And Reporting 
The following list of balances appear, amongst others, in the accounting records of Vusi Ltd on 
31 October 2020: 
Ordinary share capital (shares issued at R2.30 each) R1 265 000 
Proceeds of ordinary shares issued on 30 June 2020 R 540 000 
(Shares issued at R2.70 each) 
The following decision was taken and has not yet been recorded in the accounting records of 
Vusi Ltd as at 31 October 2020: 
The directors decided on a cap...
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FAC2601 EXAM PACK 2022
- Exam (elaborations) • 123 pages • 2022
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FAC2601 EXAM PACK 2022 
FAC2601 - Financial Accounting And Reporting 
The following information regarding share capital in the accounting records of Mbaso Ltd was obtained 
on 28 February 2021: 
R 
Ordinary share capital at date of incorporation................................................................... 5 000 000 
Proceeds on 800 000 ordinary shares issued – 31 August 2020 ....................................... 1 200 000 
20 000 10% Cumulative preference shares ..........................
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FAC2601 EXAM PACK 2022
- Exam (elaborations) • 123 pages • 2022
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- R66,23
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FAC2601 EXAM PACK 2022 
FAC2601 - Financial Accounting And Reporting 
The following information regarding share capital in the accounting records of Mbaso Ltd was obtained 
on 28 February 2021: 
R 
Ordinary share capital at date of incorporation................................................................... 5 000 000 
Proceeds on 800 000 ordinary shares issued – 31 August 2020 ....................................... 1 200 000 
20 000 10% Cumulative preference shares ..........................
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FAC2601 Assignment 2 Semester 2 Solutions 2022
- Exam (elaborations) • 10 pages • 2023
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- R47,31
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FAC2601 Assignment 2 
Semester 2 Solutions 
2022.SECOND SEMESTER 2022 
ASSIGNMENT 02 (30 marks) (36 minutes) 
The following information was extracted from the accounting records of Sankofa Ltd on 
30 June 2020: 
 R 
Inventories (additional information 3) 305 300 
Trade and other receivables 220 000 
Trade and other payables 35 000 
Dividends payable 5 000 
Bank 23 000 
Retained earnings (30/06/2019) 49 800 
Long-term loan – Kwasi Ltd (additional information 4) 950 000 
Land at cost 1 000 000 
...
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FAC2601 EXAM PACK 2021
- Exam (elaborations) • 172 pages • 2024
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FAC2601 EXAM PACK 2021 
 
 
 
 
 
 
 
 
 
 
THIS PAPER CONSISTS OF EIGHT (8) PAGES PLEASE NOTE: 
1.	This paper consists of THREE (3) questions. 
 
2.	All questions must be answered. 
 
3.	Basic calculations, where applicable, must be shown. 
 
4.	Ensure that you are handed the correct examination answer book (blue for accounting) by the invigilator (only applicable for venue based exams). 
 
5.	Each question attempted must be commenced on a new (separate) page. 
 
6.	PROPOSED TIMETABLE: (Avoid ...
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FAC2601 Assignment 2 Semester 2 Solutions 2022
- Exam (elaborations) • 10 pages • 2022
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- R56,77
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FAC2601 Assignment 2 Semester 2 Solutions 2022 
FAC2601 - Financial Accounting And Reporting 
The following information was extracted from the accounting records of Sankofa Ltd on 
30 June 2020: 
 R 
Inventories (additional information 3) 305 300 
Trade and other receivables 220 000 
Trade and other payables 35 000 
Dividends payable 5 000 
Bank 23 000 
Retained earnings (30/06/2019) 49 800 
Long-term loan – Kwasi Ltd (additional information 4) 950 000 
Land at cost 1 000 000 
Buildings at cos...
-
FAC2601 Assignment 2 Semester 2 Solutions 2022
- Exam (elaborations) • 10 pages • 2022
-
- R56,77
- + learn more
FAC2601 Assignment 2 Semester 2 Solutions 2022 
FAC2601 - Financial Accounting And Reporting 
The following information was extracted from the accounting records of Sankofa Ltd on 
30 June 2020: 
 R 
Inventories (additional information 3) 305 300 
Trade and other receivables 220 000 
Trade and other payables 35 000 
Dividends payable 5 000 
Bank 23 000 
Retained earnings (30/06/2019) 49 800 
Long-term loan – Kwasi Ltd (additional information 4) 950 000 
Land at cost 1 000 000 
Buildings at cos...
-
FAC2601-Financial Accounting And Reporting For Companies EXAM PACK 2021.
- Exam (elaborations) • 173 pages • 2022
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- R60,55
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FAC2601-Financial Accounting And Reporting For Companies EXAM PACK 2021. QUESTION 1 (10 marks) (12 minutes) 
This question must be answered in your examination answer book – please only write down the 
number that you think is correct. Each question has only one correct answer. The marks per 
question are indicated in brackets at the end of each question. 
(a) The following list of balances appear, amongst others, in the accounting records of Vusi Ltd on 
31 October 2020: 
Ordinary share capit...
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FAC2601 FINANCIAL ACCOUNTING FOR COMPANIES
- Exam (elaborations) • 173 pages • 2022
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- R293,11
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FAC2601 FINANCIAL ACCOUNTING FOR COMPANIESThe following list of balances appear, amongst others, in the accounting records of Vusi Ltd on 31 October 2020: Ordinary share capital (shares issued at R2.30 each) R1 265 000 Proceeds of ordinary shares issued on 30 June 2020 R 540 000 (Shares issued at R2.70 each) The following decision was taken and has not yet been recorded in the accounting records of Vusi Ltd as at 31 October 2020: The directors decided on a capitalisation share issue of 1 share f...
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