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Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition, which is 31 March 2016, 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-end for 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 March 2016, 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-end for 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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Q16

Mokwena Limited acquired 48% investment in Masibi Limited at R100 000. At the date of acquisition, which is 31 March 2016, 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-end for 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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