Both the parts are two separate questions and hence I can only solve the first one as per HOMEWORKLIB RULES.
Answer to PART A
Since both, Hotel A1 and A2 have their individual business licence, it makes them a separate legal entity in the eyes of law which makes it mandatory to keep separate books of accounts for each hotel making them two separate CGUs
Nasoso Ltd operates two hotels in the Nadi area. Hotel A1 provides up-market accommodation in beachside...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
SECTION A (40 marks): Answer ALL Questions in this section. QUESTION ONE a) Aseda Ltd incurred the following cost in its manufacturing operations GH¢ Cost of material purchase 20,000 Import duties 400 Trade discount @10% of purchase cost Cash discount 500 Irrecoverable taxes 1,000 Salary of factory plant operator 2,500 Direct labour 5,000 Salary of factory supervisor 4,000 Cost of expected production losses 800 Administrative overhead (Note) 16,000 Cost of storage of raw material for further processing 2,000 Marketing cost...
QUESTION4 Diagnostics Ltd is a key supplier of medical equipment to hospitals and other health facilities. Diagnostics was incorporated under the Cempanies Act of 2004 in 2012, and is a registered VAT vendor, Al its suppliers are also VAT vendors and VAT is calculated at a rate of 15%. The following infomation was extracted from the records of Dlagnostics Ltd for the reporting porlod ended 31 March 2016. (26 MARKS) Note Dr Cr 12 500 000 Sales Cost of sales...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...