QUESTION 1 STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 20.20 Hutan Lad 196000 1720 23 000 1000 7000 1E000 2000 135800 14000 35 000 23 000 4200 SO 147 000 35 900 ASSETS Feed property Gross caming amount Accumulated deprecation Furniture Gross Caring Accumulated depreciation Investment in Safair value: B0 000 harcot R1470001 Investment in listed as Current accounts Traders Inventores Bara Total assets EQUITY AND LIABILITIES She capital 200 000 100 000 sh Renderings Current account PL Dividend payable Trade and other paties Total equity and Liabilities 200 25.000 63000 22000 7530 556 710 210 350 200 000 100 000 177200 14000 46200 556 710 12256 20000 ->2200 349650 EXTRACT FROM THE STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 20.20 Hutan Lid Kod Retained Earnings 240 000 100 000 Balance at 1 July 2015 Changes in equity for 23. Total comprehensive income for the year Profile for the ye Ordinary dividend paid and provided Balance at 30 June 20.20 76.510 20 000 294510 200 15.000 177 200 STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED ) JUNE 20.20 Hutan Lid Koud Revenge 280 000 290 000 Costal sa 15400 154000 Gross profit 124000 56 000 Other expenses 142 2101 12670 15 15 Interest received 6720 Profit before tax 10626 4730 Income tax expense 29750 PROFIT FOR THE YEAR 76 510 22 200 Other comprehensive care for the ye TOTAL COMPREHENSIVE INCOME FOR THE YEAR 76 510 22 200 Atostomation Hunan Lid acquired the interest in Kavid Led 30 June 2017 when the equity of RoviLid was as follows Share capital R100 000 Retained emings R49000 On1 Jarruary 2012 had sold non-deprecable and property with original cost of the property STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED UNE 2020 Hutan Lid Cavid Revenue 230 000 210 000 Cost of 1154 000 000 Gross profit 12000 000 Other 522101 1299 Dividend received 15750 100 Interest rated Profit before sex 100 260 44730 Income tax expense 29 250 112530 PROFIT FOR THE YEAR 78 510 R200 Other comprehensive income for the year TOTAL COMPREHENSIVE INCOME FOR THE YEAR 76 510 SC Anton . Muhan saared the interest in Kavid L on 30 June 2017 when ity of Kovid Lid was astot Share capta 100 000 Retained esmingu R4 000 . Onuary 2018. Huhan Lid sold on probleed property original cost price of R10 000 Kovidad for 73800. The propery cuted property, plant and super in the pion of Movid Lid . On 30 June 20.19. Kovidad sold fumure that com R12 500 antoni accumulated deprecation to the amount of Soweit Lid for 14 000. Huhn Lewis this mure under property, and mert Kovid Lid purchases als inventories from the concepts 25% Total inventories to the value of R105000 wereldood Lady Lid during reporting pered Inventories in the record of over R35 000 on 1 y 20:19. At the end of the reporting period and and Human R32 200 in respect of the inventores punteed to Lt These amounts are included in trade receives and trade and other payables . On 30 June 2018, Kovid Lad od 2 machines with a common fres 200 each to Huhan Lad for a total amount of R56000. Huhn Lowest plant in the production of inventores Bom companies wile of praction on par 20% per annum on the dining the method One 20.20. Human Las sold one of the machine sta si protest against other expenses. Assume a company taste of 28% Hutan Lad recognised the equity investment in Hond Lines separate financial recording the cost price method . Hutan Lid elected to measure any non-controlling interests in their proportional are of the reflection Regled Prepare the consolidated francia sements of the Propheting period ended 30 June 20.20. show my of owner equity of the day and Proforma journal entries) 100 marks QUESTION 1 100 MARKS STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 20.20 Huhan Ltd Kovid Ltd ASSETS Fixed property Plant Gross carrying amount Accumulated depreciation Furniture Gross carrying amount Accumulated depreciation Investment in S Ltd at fair value: 80 000 shares (cost: R147000) Investment in unlisted shares 196 000 17 920 28 000 10 080 7 000 14 000 7 000 135 800 14 000 35 000 21 000 4 200 14 000 9 800 147 000 35 000 Current account: S Ltd Trade receivables Inventories Bank Total assets 28 000 63 000 22 400 75 390 556 710 32 200 39 200 89 250 349 650 200 000 296 510 100 000 177 200 EQUITY AND LIABILITIES Share capital (200 000/100 000 shares) Retained earnings Current account: P Ltd Dividend payable Trade and other payables Total equity and Liabilities 14 000 46 200 556 710 12 250 21 000 39 200 349 650 EXTRACT FROM THE STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 20.20 Huhan Ltd Kovid Ltd Retained Earnings 240 000 160 000 Balance at 1 July 20.19 Changes in equity for 20.18 Total comprehensive income for the year Profit for the year Ordinary dividend paid and provided Balance at 30 June 20.20 76 510 20 000 296 510 32 200 15 000 177 200 QUESTION 1 STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 20.20 Hutan Lad 196000 1720 23 000 1000 7000 1E000 2000 135800 14000 35 000 23 000 4200 SO 147 000 35 900 ASSETS Feed property Gross caming amount Accumulated deprecation Furniture Gross Caring Accumulated depreciation Investment in Safair value: B0 000 harcot R1470001 Investment in listed as Current accounts Traders Inventores Bara Total assets EQUITY AND LIABILITIES She capital 200 000 100 000 sh Renderings Current account PL Dividend payable Trade and other paties Total equity and Liabilities 200 25.000 63000 22000 7530 556 710 210 350 200 000 100 000 177200 14000 46200 556 710 12256 20000 ->2200 349650 EXTRACT FROM THE STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 20.20 Hutan Lid Kod Retained Earnings 240 000 100 000 Balance at 1 July 2015 Changes in equity for 23. Total comprehensive income for the year Profile for the ye Ordinary dividend paid and provided Balance at 30 June 20.20 76.510 20 000 294510 200 15.000 177 200 STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED ) JUNE 20.20 Hutan Lid Koud Revenge 280 000 290 000 Costal sa 15400 154000 Gross profit 124000 56 000 Other expenses 142 2101 12670 15 15 Interest received 6720 Profit before tax 10626 4730 Income tax expense 29750 PROFIT FOR THE YEAR 76 510 22 200 Other comprehensive care for the ye TOTAL COMPREHENSIVE INCOME FOR THE YEAR 76 510 22 200 Atostomation Hunan Lid acquired the interest in Kavid Led 30 June 2017 when the equity of RoviLid was as follows Share capital R100 000 Retained emings R49000 On1 Jarruary 2012 had sold non-deprecable and property with original cost of the property STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED UNE 2020 Hutan Lid Cavid Revenue 230 000 210 000 Cost of 1154 000 000 Gross profit 12000 000 Other 522101 1299 Dividend received 15750 100 Interest rated Profit before sex 100 260 44730 Income tax expense 29 250 112530 PROFIT FOR THE YEAR 78 510 R200 Other comprehensive income for the year TOTAL COMPREHENSIVE INCOME FOR THE YEAR 76 510 SC Anton . Muhan saared the interest in Kavid L on 30 June 2017 when ity of Kovid Lid was astot Share capta 100 000 Retained esmingu R4 000 . Onuary 2018. Huhan Lid sold on probleed property original cost price of R10 000 Kovidad for 73800. The propery cuted property, plant and super in the pion of Movid Lid . On 30 June 20.19. Kovidad sold fumure that com R12 500 antoni accumulated deprecation to the amount of Soweit Lid for 14 000. Huhn Lewis this mure under property, and mert Kovid Lid purchases als inventories from the concepts 25% Total inventories to the value of R105000 wereldood Lady Lid during reporting pered Inventories in the record of over R35 000 on 1 y 20:19. At the end of the reporting period and and Human R32 200 in respect of the inventores punteed to Lt These amounts are included in trade receives and trade and other payables . On 30 June 2018, Kovid Lad od 2 machines with a common fres 200 each to Huhan Lad for a total amount of R56000. Huhn Lowest plant in the production of inventores Bom companies wile of praction on par 20% per annum on the dining the method One 20.20. Human Las sold one of the machine sta si protest against other expenses. Assume a company taste of 28% Hutan Lad recognised the equity investment in Hond Lines separate financial recording the cost price method . Hutan Lid elected to measure any non-controlling interests in their proportional are of the reflection Regled Prepare the consolidated francia sements of the Propheting period ended 30 June 20.20. show my of owner equity of the day and Proforma journal entries) 100 marks QUESTION 1 100 MARKS STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 20.20 Huhan Ltd Kovid Ltd ASSETS Fixed property Plant Gross carrying amount Accumulated depreciation Furniture Gross carrying amount Accumulated depreciation Investment in S Ltd at fair value: 80 000 shares (cost: R147000) Investment in unlisted shares 196 000 17 920 28 000 10 080 7 000 14 000 7 000 135 800 14 000 35 000 21 000 4 200 14 000 9 800 147 000 35 000 Current account: S Ltd Trade receivables Inventories Bank Total assets 28 000 63 000 22 400 75 390 556 710 32 200 39 200 89 250 349 650 200 000 296 510 100 000 177 200 EQUITY AND LIABILITIES Share capital (200 000/100 000 shares) Retained earnings Current account: P Ltd Dividend payable Trade and other payables Total equity and Liabilities 14 000 46 200 556 710 12 250 21 000 39 200 349 650 EXTRACT FROM THE STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 20.20 Huhan Ltd Kovid Ltd Retained Earnings 240 000 160 000 Balance at 1 July 20.19 Changes in equity for 20.18 Total comprehensive income for the year Profit for the year Ordinary dividend paid and provided Balance at 30 June 20.20 76 510 20 000 296 510 32 200 15 000 177 200