Fac3703 2021 Study guides, Study notes & Summaries

FAC3703 EXAM PREPARATION 2021/2022

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FAC3703 Assignment 2 0f 2021

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FAC3703 ASSIGNMENT 1 OF 2021 SOLUTIONS AND CALCULATIONS

FAC3703 ASSIGNMENT 2 – SEMESTER 1 OF 2018 ENZO LTD NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 1. Profit before tax Profit before tax is shown after taking the following into account: 2017 R Income Finance Income (calculation 4) 79 966 Expenses Finance cost (300 000 ∗ 2 ∗ 9%) 54 000 2. Net Investment in finance leases 2.1. Reconciliation of net investment in finance leases: 2017 R Opening balance New leases entered into Repayments of Capital (128 0...

FAC3703 EXAM PACK 2021 S - The study-notes marketplace Downloaded by: nbnetshiya | Distribution of this document is illegal S - The study-notes marketplace 1 FAC3703 May-Jun 2017 (Paper 1) suggested solution © Edge Business School FAC3703 May-Jun 2017 Paper 1 Suggested solution Question 1 a) Calculate employee benefits W1. Salary: (275 000 x 9 months [Apr – Dec]) 2 475 000 (275 000 x 3 months [Jan – Mar] x 100/110) 750 000 Bonus paid: 275 000 Bonus obligation OB: (275 000...

FAC3703 EXAM PREPARATION 2021/2022

c) i) Discussion re recognition of government grant A government grant is initially recognised when the amount is received or receivable – which was received on 1 April 2016, and when it is reasonably assured that the conditions attached will be met, i.e., that the entity will not retrench any staff under 35 years of age. The subsequent recognition of a government grant depends on the type of grant and the accounting policy of the entity. This government grant is an income-based grant as...