FAC2601-Financial Accounting For Companies Assignment 2 Semester 1 2022.

FAC2601-Financial Accounting For Companies Assignment 2 Semester 1 2022. QUESTION 1 BELL CREST LTD NOTES TO NON-CURRENT ASSETS Property, plant and equipment Land Buildings Plant and machinery Delivery vehicle Furniture and equipment Carrying amount at the beginning of the year 480 000 Gross carrying amount 3 733 333 (5) 84 615 (12) 600 000 Accumulated depreciation - (175 000) (2) (1 633 333) (6) (29 615) (13) (120 000) Additions at cost 70 000 (14) Disposals (958 333) (9) (45 128) (16) Depreciation (49 469) (3) (189 714) (8) (15 289) (17) (60 000) (1Depreciation capitalised 17 579 (17 579) Revaluation 50 000 (1) Carrying amount at the end of the year 420 000 Gross carrying amount Accumulated depreciation - (224 469) (1 021 181) (5 417) (180 000) Downloaded by: madyahf | Distribution of this document is illegal S - The study-notes marketplace © TutorA All rights reserved Calculations (1) 850 000 – 800 000 = 50 000 (2) 1 200 000/240 x 35 = 175 000 (3) 1 200 000/20 x 3/12 = 15 000 (1 275 000 + 17 579)/25 x 8/12 = 34 469 Total = 15 000 + 34 469 = 49 469 (4) 1 050 000 - (1 025 000 – 15 000) (5) 2 100 000 x 100/75 = 2 800 000 2 800 000 x 100/75 = 3 733 333 (6) 3 733 333 – 2 100 000 = 1 633 333 (7) 500 000 x 25% = 125 000 (500 000 – 125 000) x 25% = 93 750 500 000 – (125 000 + 93 750) x 25% x 9/12 = 52 734 500 000 – (125 000 + 93 750) x 25% x 3/12 = 17 578 (8) 2 100 000 – 500 000 – (125 000 + 93 750) – 1 000 000 = 381 250 381 250 x 25% = 95 313 500 000 – (125 000 + 93 750) x 25% x 9/12 = 52 734 500 000 – (125 000 + 93 750) x 25% x 3/12 = 17 578 1 000 000 x 25% x 2/12 = 41 667 95 313 + 52 734 + 41 667 = 189 714 (9) 1 000 000 – 41 667 = 958 333 (10) 1 000 000 x 100/75 = 1 333 333 Downloaded by: madyahf | Distribution of this document is illegal S - The study-notes marketplace © TutorA All rights reserved 1 333 333 x 100/75 = 1 777 778 3 733 333 – 1 777 778 = 1 955 555.