Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition, which is 31 March2016, Masibi Limited’s statement of financial position showed the following balances: Non-current assets R692 000 Current assets R44 000 Non-current liabilities R268 000 Current liabilities R218 000 Mokwena Limited applies equity accounting for all its investments in associates and joint ventures. The financial year-endfor Mokwena Limited is on 31 March of each year. What is Mokwena Limited’s share of the net assets in Masibi Limited? Select one: a. R250 000 b. R353 280 c. R120 000 d. R100 000
Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition, which is 31 March2016, Masibi Limited’s statement of financial position showed the following balances: Non-current assets R692 000 Current assets R44 000 Non-current liabilities R268 000 Current liabilities R218 000 Mokwena Limited applies equity accounting for all its investments in associates and joint ventures. The financial year-endfor Mokwena Limited is on 31 March of each year. What is Mokwena Limited’s share of the net assets in Masibi Limited? Select one: a. R250 000 b. R353 280 c. R120 000 d. R100 000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 29E
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Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition, which is 31 March2016, Masibi Limited’s
Non-current assets R692 000
Current assets R44 000
Non-current liabilities R268 000
Current liabilities R218 000
Mokwena Limited applies equity accounting for all its investments in associates and joint ventures. The financial year-endfor Mokwena Limited is on 31 March of each year.
What is Mokwena Limited’s share of the net assets in Masibi Limited?
Select one:
a.
R250 000
b.
R353 280
c.
R120 000
d.
R100 000
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