FAC2602 Assignment 1 semester 2 2025 Distinction guaranteed

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Started on Tuesday, 26 August 2025, 12:34 PM
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Completed on Tuesday, 26 August 2025, 1:22 PM
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Question 1
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BOOK WRITTEN ASSIGNMENT AND EXAM ON WHATSAPP 064 516 7275
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Why is only the parent company's share capital included in consolidated financial statements?



1. To represent the ownership structure of the parent in the group.
2. To eliminate the need for consolidating subsidiary assets.
3. To avoid overstating liabilities.
4. To simplify the accounting process for non-controlling interests.




Question 2
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What is Oozma Ltd's percentage interest in Kapa Ltd, and what is the non-controlling interest (NCI) percentage?



1. Oozma Limited: 80%, NCI: 20%

2. Oozma Limited: 60%, NCI: 40%

3.
Oozma Limited: 70%, NCI: 30%

4.
Oozma Limited: 100%, NCI: 0%




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Question 3
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The analysis of owner's equity of a subsidiary after the date of acquisition typically divides the period into which parts?
Dashboard / My courses / FAC2602-25-S2 / Welcome Message / Assessment 1


1.
Pre-acquisition and Post-acquisition.

2. Initial, Intermediate, and Final periods.

3. At acquisition, Since acquisition to beginning of current year, and Current year.

4. Before current year, Current year, and After current year.




Question 4
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Assuming that all assets and liabilities of Kapa Ltd were considered to be at their fair value at the date of acquisition, what is the non-
controlling interest amount at date of acquisition in 2025:




1. R26 000
2. R34 000
3. R60 000
4. R48 000




Question 5
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Trade and other payables of in the Consolidated statement of financial position at 31 December 2025 amount to:



1. R120 000
2. R40 000
3. R100 000
4. R80 000

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Question 6
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How are post-acquisition profits of a subsidiary treated in the consolidated financial statements?
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1. Post-acquisition profits are allocated between the parent company and non-controlling interest (NCI) based on their respective
ownership percentages.
2. Post-acquisition profits remain entirely within the subsidiary’s financial statements and are not consolidated.



3.
Post-acquisition profits are fully allocated to the parent company, regardless of the parent’s ownership percentage.



4. Post-acquisition profits are treated as retained earnings in the parent company’s individual financial statements.




Question 7
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What is the total revenue in the consolidated statement of profit or loss and other comprehensive income for the year ended 31
December 2025?



1. R920 000

2. R1 206 000

3.
R1 190 000

4. R650 000




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Question 8
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What does goodwill represent in a group financial statements?
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1. The amount of money the company has in reserves.
2. The value of non-physical assets like brand reputation, customer relationships, and intellectual property
3. The fair value of physical assets like buildings and equipment.
4. The total liabilities of the acquired company




Question 9
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Assuming Oozma Limited acquired Kapa Limited for a consideration of R240 000, what does the Goodwill in the consolidated statement
at 31 December 2025 of financial position amount to:




1. R34 000
2. RNil
3. R10 000
4. R20 000




Question 10
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What is the Ordinary share capital in the Oozma Group Limited consolidated statement of financial position for 31 December 2025
amount to:



1. R500 000
2. R630 000
3. R600 000
4. R660 000



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