Fac2602 selected accounting standards and simple group structures Study guides, Class notes & Summaries
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FAC2602 ASSESSEMENT 3 OF SEM 2 of 2023 EXPECTED SOLUTIONS
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THIS DOCUMENT CONTAINS FAC2602 ASSESSEMENT 3 OF SEM 2 EXPECTED SOLUTIONS compiled by your best tutors for the subject. CORRECT USE WILL HELP YOU SCORE ABOVE 80%
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FAC2602 - Exam Questions PACK (2016-2022)
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NEW Past exam Questions taken from 2016 to 2022 exam papers • Great for exam Prep. Helps you see what questions are likely to be asked (Contains Questions Only)
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FAC2602 EXAM PACK 2023
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Latest exam pack questions and answers and summarized notes for exam preparation. Whatsapp 067 171 1739 for assistance. All the best on your exams!!
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FAC2602 Assignment 2 Semester 1 2022
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FAC2602 Assignment 2 Semester 1 
2022 
Disclaimer 
Extreme care has been used to create this document, however the contents are provided “as is” 
without any representations or warranties, express or implied. This document is to be used for 
comparison, research and reference purposes ONLY. No part of this document may be 
reproduced, resold or transmitted in any form or by any means without prior written permission 
from the author. 
DOCUMENT PREVIEW 
PART A 
Draft the following pro-forma c...
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FAC2602 Assignment 1 Solutions Second semester 2022
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FAC2602 Assignment 1 Solutions for Second semester 2022
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FAC2602 Learning Unit 9 2022.
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FAC2602 Learning Unit 9 2022. 
FAC2602 - Selected Accounting Standards And Simple Group Structures. 
The following are the condensed financial statements of P Ltd and its subsidiary, S Ltd: 
STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 20.7 
P Ltd S Ltd 
R R 
ASSETS 
Property, plant and equipment 
Land at cost price 100 000 80 000 
Plant at carrying amount 40 000 20 000 
Investment in S Ltd at fair value 
75 000 ordinary shares (cost price: R120 000) 120 000 - 
20 000 preference shares (co...
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FAC2602 Learning Unit 6 2022
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FAC2602 Learning Unit 6 2022. FAC2602 - Selected Accounting Standards And Simple Group Structures 
The following are the trial balances of Sandy Ltd and South Ltd for the year ended 
31 December 20.2: 
Sandy 
Ltd 
R 
South 
Ltd 
R 
Share capital - ordinary shares (800 000/355 000 shares) (800 000) (355 000) 
Retained earnings - 1 January 20.2 (480 000) (120 000) 
Gross profit (422 700) (166 200) 
Dividends received - 31 December 20.2 (23 800) - 
Auditors' remuneration 8 500 5 000 
Depreciation ...
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FAC2602 ASSIGNMENT 2 SOLUTIONS SEMESTER 2 2022
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FAC2602 ASSIGNMENT 2 SOLUTIONS SEMESTER 2 2022. Selected Accounting Standards And Simple Group Structures. Draft the following pro-forma consolidation journal entries of the IWP Ltd Group 
for the year ended 31 August 2022, after taking the above-mentioned information 
into account: 
(a) Elimination of the unrealised profit included in the opening and closing 
inventory 
DR CR 
Retained Earnings – BigCat Ltd 66 666,67 
Cost of sales – BigCat Ltd 66 666,67 
Elimination of the unrealised profi...
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FAC2602 Assignment 1 semester 2 2022.
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FAC2602 Assignment 1 semester 2 2022. 
FAC2602 - Selected Accounting Standards And Simple Group Structures 
Select the correct statement regarding shareholding and control within group structures: 
a. Control of another company is obtained only when the investor holds more than 
50% of the shareholding. 
b. A percentage holding of 48% in the investee will grant the investor the right to 
have control. 
c. A group of companies is formed only when the parent and the subsidiary agree 
about the par...
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FAC2602 ASSESSMENT 1 OF 2024 EXPECTED SOLUTIONS
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FAC2602 ASSESSMENT 1 OF 2024
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