OSA Jul23_BCOM_ACC.. X BCOM ACCOUNTING - Financia... = Menu All tools Edit Convert Sign C...

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OSA Jul23_BCOM_ACC.. X BCOM ACCOUNTING - Financia... = Menu All tools Edit Convert Sign 田 C 24°C Mostly sunny + Create D Sign in Find text or tools Q A હૈ QUESTION 2 (20 Marks) 2.1. At 28 February 2022, ST Ltd is operating a business division identified as a Cash Generating Unit. The following information relates to a Cash Generating Unit (CGU) of ST Ltd for the year ended 28 February 2022 Building R40 000 000 Intangible Asset R 8 000 000 R12 500 000 Goodwill Inventory R 2 000 000 An Impairment test was carried out on the 28 February 2022 and the Cash Generating Unit now has a fair value of R50 000 000.The related disposal cost is R4 500 000.The value in use is R36 000 000 CALCULATE AND ALLOCATE THE IMPAIRMENT LOSS OF THE CGU FOR THE YEAR ENDED 28 February 2022 ROUND OFF TO THE NEAREST RAND? QUESTION 3 3.1. Discuss the disclosure requirements for a change in accounting policy. 3.2. RT (LTD) purchased a plant for R3 000 000 on 1 January 2018. Depreciation - on a straight-line basis over 25 years Residual Value - R500 000 On 1 January 2022, the company reassessed the remaining useful life of the asset and calculated it to be 16 years and the residual value was changed to R250 000 Disclose the change in accounting estimate for the year ended 31 December 2022? 3.3. State the journal to correct the depreciation? QUESTION 4 Search - (25 Marks) (7 marks) (15 marks) (3 marks) 回 G+ ⠀ > > > × 23 <> (15 Marks) ENG 09:17 D US 2023/11/22 OSA Jul23_BCOM_ACC.. X BCOM ACCOUNTING - Financia... = Menu All tools Edit Convert Sign 田 C 24°C Mostly sunny + Create D Sign in Find text or tools Q A હૈ QUESTION 2 (20 Marks) 2.1. At 28 February 2022, ST Ltd is operating a business division identified as a Cash Generating Unit. The following information relates to a Cash Generating Unit (CGU) of ST Ltd for the year ended 28 February 2022 Building R40 000 000 Intangible Asset R 8 000 000 R12 500 000 Goodwill Inventory R 2 000 000 An Impairment test was carried out on the 28 February 2022 and the Cash Generating Unit now has a fair value of R50 000 000.The related disposal cost is R4 500 000.The value in use is R36 000 000 CALCULATE AND ALLOCATE THE IMPAIRMENT LOSS OF THE CGU FOR THE YEAR ENDED 28 February 2022 ROUND OFF TO THE NEAREST RAND? QUESTION 3 3.1. Discuss the disclosure requirements for a change in accounting policy. 3.2. RT (LTD) purchased a plant for R3 000 000 on 1 January 2018. Depreciation - on a straight-line basis over 25 years Residual Value - R500 000 On 1 January 2022, the company reassessed the remaining useful life of the asset and calculated it to be 16 years and the residual value was changed to R250 000 Disclose the change in accounting estimate for the year ended 31 December 2022? 3.3. State the journal to correct the depreciation? QUESTION 4 Search - (25 Marks) (7 marks) (15 marks) (3 marks) 回 G+ ⠀ > > > × 23 <> (15 Marks) ENG 09:17 D US 2023/11/22

Answer rating: 100% (QA)

To calculate and allocate the impairment loss of the Cash Generating Unit CGU for the year ended 28 February 2022 we need to compare the carrying amou... View the full answer