FAC2602 ASSIGNMENT 2 SEMESTER1 2022

FAC2602 ASSIGNMENT 2 – SEMESTER 1 OF
2022
PART A

DR CR
R R
(a) Profit on sale of machinery (Begonia Ltd) 80 000
Machinery (Daisy Ltd) 80 000

Accumulated Depreciation: (Daisy Ltd) 12 000
12 000
Depreciation (Begonia Ltd)


(b) Cost of Sales (Daisy Ltd) 154 000
154 000
Inventory (Begonia Ltd)



PART B

(a) Consolidated Statement of Profit or Loss & Other Comprehensive Income of
the Daisy Ltd Group for the year ended 28 February 2022

R
Revenue 7 500 000
Cost of Sales (2 554 000)
Gross Profit 4 946 000
Other Income
703 000
Other expenses (938 000)
Finance Cost (180 000)
Profit before tax 4 531 000
Income tax expense (1 338 400)
Profit for the year 3 192 600
Other Comprehensive Income for the year -
Total Comprehensive Income for the year 3 192 600

Total comprehensive income attributable to:
Owners of the parent 2 927 600
Non – controlling interest 265 000
3 192 600