100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
FAC2601 Assignment 2 Semester 2 2024 (QUALITY ANSWERS) DISTINCTION GUARANTEED 90+ $3.40   Add to cart

Exam (elaborations)

FAC2601 Assignment 2 Semester 2 2024 (QUALITY ANSWERS) DISTINCTION GUARANTEED 90+

1 review
 266 views  7 purchases
  • Course
  • Institution

Fac2601 Assignment 2 Semester 2 2024 MCQ with 90+ grading

Preview 1 out of 16  pages

  • September 11, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

1  review

review-writer-avatar

By: nekuzikhona • 2 months ago

Half of the answers were not given

avatar-seller
Answer the following multiple-choice questions. Indicate your choice by selecting
only one option from the four options given for each question answered.
Use the following information to answer questions 1 to 4:
The following balances, amongst others, were extracted from the accounting
records of Tale Ltd at 30 June 2023:
R
Land at 2 000 000
cost............................................................................................
Buildings at 3 756 800
cost.....................................................................................
Machinery at carrying amount (1 July 5 144 000
2022).............................................


Additional information:
All machinery was purchased on 1 July 2021. The company provides for depreciation on
machinery at 20% on the straight-line method. The residual value of the machinery at
the end of its useful life is R120 000. During the current year all the machinery was
withdrawn for the production process for a period of 3 months and used in the
construction of the building. No sales or purchase transactions of machinery took place
during the current financial year. The following construction costs took place during the
current year:


Labour R1 356 800
Material R2 400 000
Total R3 756 800
Land and buildings, consisting of factory buildings and offices in Constantia Park, Erf 300,
owner occupied. The building was completed on 1 April 2023 and brought into use on
the same date, and is depreciated over its estimated useful life of 20 years.
REQUIRED:
Question 1:
The original cost price of machinery is?




1.
R6 400 000

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller IsabellaTutorial. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $3.40. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$3.40  7x  sold
  • (1)
  Add to cart