Homework Answers
ANSWER:-
5. Option (4) Assets will increase and liabilities will increase.
6. Option (2) 11,00,000
7. Option (2) 5,50,000
8. Option (5) 8,00,000
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credit from AB ASSIGNMENT 1, SEMESTER 1 (continued ASSIGN nant with a cost price of R50...
Please help me with number 6,7 and 8 Use the information of Mbombela Traders for the...
Please help me with number 6,7 and 8
Use the information of Mbombela Traders for the year ended 31 March 2020 provided below, to answer questions 6 to 8: Vehicles Inventory Bank (overdraft) Debtors control Creditors control Equipment..... 700 000 200 000 50 000 600 000 500 000 400 000 6. What is the amount of non-current assets? (2) (3) 700 000 1 100 000 750 000 400 000 1 950 000 (4) (5) What is the amount of current...
Please help me with number 1,11 ,14 and 15 Use the information provided below to answer...
Please help me with number 1,11 ,14 and 15
Use the information provided below to answer question 1: Ethekwini Traders provided you with the following information for the year ended 30 April 2020: Inventory (1 May 2019). 400 000 Purchases 600 000 Purchases returns ............... 40 000 Sales returns .... 100 000 | Carriage on purchases.................. 5 500 A physical inventory count on 30 April 2020 indicated that inventory on hand was R500 000. 1. The cost of sales amount...
Ms Sade is a trader operating under the name of 'SA Traders'. She informs you that...
Ms Sade is a trader operating under the name of 'SA Traders'. She informs you that she consistently adds 33% to the cost of all goods which she sells in order to arrive at selling prices. She presents you with the following financial statements for the years ended 31 March 2000 and 2001. INCOME STATEMENT 2001 2000 Sales net Less cost of sales Gross profit Discount received 471 100 360 900 110 200 1 700 111 900 93 420 18...
Answer ALL questions. WIE S (20 MARKS) QUESTION 1 MULTIPLE CHOICE REQUIRED For each of the...
Answer ALL questions. WIE S (20 MARKS) QUESTION 1 MULTIPLE CHOICE REQUIRED For each of the questions below write down only the letter of the most appropriate answer e.g. 1.11 C. Note: Calculations must not be shown in your answer book. Which one of the following statements is false? The financial result of an enterprise is a measure of the profit or loss that the enterprise made over a certain period of time. Expenses decrease economic benefits to a business...
QUESTION 5: The following information has been extracted from the financial statements of YDI Limited: Extract...
QUESTION 5: The following information has been extracted from the financial statements of YDI Limited: Extract of Statement of Comprehensive Income for the year ended 31 December: 2019 2018 $ $ Sales 2 000 000 1 600 000 Cost of sales 940 000 800 000 Operating profit 600 000 520 000 Profit before tax 520 000 450 000 Profit after tax 364 000 315 000 Extract of Statement of Financial Position as at 31 December: Assets 2019 2018...
QUESTION FIVE [25] The following information was obtained from the accounting records of First Ltd: Summarised...
QUESTION FIVE [25] The following information was obtained from the accounting records of First Ltd: Summarised financial position for year ended 31 December 2018 2019 R R 95 470 104 865 Nil 1 100 1 600 ASSETS Land and buildings Investments Machinery at carrying amount Cost Accumulated depreciation Inventories Trade debtors Cash at bank 6 500 8 700 (2 200) 12 000 5 400 (3 800) 9 000 10 205 30 700 13 500 Nil TOTAL ASSETS 147 070 137...
QUESTION FIVE [25] The following information was obtained from the accounting records of First Ltd: Summarised...
QUESTION FIVE [25] The following information was obtained from the accounting records of First Ltd: Summarised financial position for year ended 31 December 2018 2019 R R 95 470 104 865 Nil 1 100 1 600 ASSETS Land and buildings Investments Machinery at carrying amount Cost Accumulated depreciation Inventories Trade debtors Cash at bank 6 500 8 700 (2 200) 12 000 5 400 (3 800) 9 000 10 205 30 700 Nil 13 500 TOTAL ASSETS 147 070 137...
The following information pertains to Brilliant CC: EXTRACT FROM THE STATEMENT OF FINANCIAL POSITION AS AT...
The following information pertains to Brilliant CC: EXTRACT FROM THE STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 2020 2019 ASSETS R R Non-current assets 54 000 50 000 Property, plant and equipment 54 000 50 000 Current assets 38 400 36 000 Inventories 12 400 10 200 Trade receivables (Trade debtors) 10 000 10 400 Other financial assets 12 000 14 000 Cash and cash equivalents. 4 000 1 400 Total assets..... 92 400 86 000 EQUITY AND LIABILITIES...
Ms. Sade is a trader Operating under the name of 'SA Traders'. She informs you that...
Ms. Sade is a trader Operating under the name of 'SA Traders'. She informs you that she consistently adds 33 1/3% to the costs of all goods which she sells in order to arrive at Selling prices. She presents you with the following financial statements for the year ended 31 March 2000 and 2001. INCOME STATEMENT 2001 2000 Sales net 471 100 Less cost of sales 360 900 Gross profit 110 200 Discount received 1700 111 900 Operating expenses 93...
The following information was extracted from the Statement of Changes in Equity of Ace Traders on...
The following information was extracted from the Statement of Changes in Equity of Ace Traders on 28 February 2019, the end of the financial year 1.8 700 000 Capital balance (01 March 2018) 260 000 Additional capital contributed on 01 June 2018 102 000 Drawings for the year Net profit for the year 1 080 000 Capital balance (28 February 2019) The net profit for the year is A R222 000 R18 000 C R53 800 none of the above...
Please help me with number 6,7 and 8
Use the information of Mbombela Traders for the year ended 31 March 2020 provided below, to answer questions 6 to 8: Vehicles Inventory Bank (overdraft) Debtors control Creditors control Equipment..... 700 000 200 000 50 000 600 000 500 000 400 000 6. What is the amount of non-current assets? (2) (3) 700 000 1 100 000 750 000 400 000 1 950 000 (4) (5) What is the amount of current...
Please help me with number 1,11 ,14 and 15
Use the information provided below to answer question 1: Ethekwini Traders provided you with the following information for the year ended 30 April 2020: Inventory (1 May 2019). 400 000 Purchases 600 000 Purchases returns ............... 40 000 Sales returns .... 100 000 | Carriage on purchases.................. 5 500 A physical inventory count on 30 April 2020 indicated that inventory on hand was R500 000. 1. The cost of sales amount...
Ms Sade is a trader operating under the name of 'SA Traders'. She informs you that she consistently adds 33% to the cost of all goods which she sells in order to arrive at selling prices. She presents you with the following financial statements for the years ended 31 March 2000 and 2001. INCOME STATEMENT 2001 2000 Sales net Less cost of sales Gross profit Discount received 471 100 360 900 110 200 1 700 111 900 93 420 18...
Answer ALL questions. WIE S (20 MARKS) QUESTION 1 MULTIPLE CHOICE REQUIRED For each of the questions below write down only the letter of the most appropriate answer e.g. 1.11 C. Note: Calculations must not be shown in your answer book. Which one of the following statements is false? The financial result of an enterprise is a measure of the profit or loss that the enterprise made over a certain period of time. Expenses decrease economic benefits to a business...
QUESTION FIVE [25] The following information was obtained from the accounting records of First Ltd: Summarised financial position for year ended 31 December 2018 2019 R R 95 470 104 865 Nil 1 100 1 600 ASSETS Land and buildings Investments Machinery at carrying amount Cost Accumulated depreciation Inventories Trade debtors Cash at bank 6 500 8 700 (2 200) 12 000 5 400 (3 800) 9 000 10 205 30 700 13 500 Nil TOTAL ASSETS 147 070 137...
QUESTION FIVE [25] The following information was obtained from the accounting records of First Ltd: Summarised financial position for year ended 31 December 2018 2019 R R 95 470 104 865 Nil 1 100 1 600 ASSETS Land and buildings Investments Machinery at carrying amount Cost Accumulated depreciation Inventories Trade debtors Cash at bank 6 500 8 700 (2 200) 12 000 5 400 (3 800) 9 000 10 205 30 700 Nil 13 500 TOTAL ASSETS 147 070 137...
The following information pertains to Brilliant CC: EXTRACT FROM THE STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 2020 2019 ASSETS R R Non-current assets 54 000 50 000 Property, plant and equipment 54 000 50 000 Current assets 38 400 36 000 Inventories 12 400 10 200 Trade receivables (Trade debtors) 10 000 10 400 Other financial assets 12 000 14 000 Cash and cash equivalents. 4 000 1 400 Total assets..... 92 400 86 000 EQUITY AND LIABILITIES...
Ms. Sade is a trader Operating under the name of 'SA Traders'. She informs you that she consistently adds 33 1/3% to the costs of all goods which she sells in order to arrive at Selling prices. She presents you with the following financial statements for the year ended 31 March 2000 and 2001. INCOME STATEMENT 2001 2000 Sales net 471 100 Less cost of sales 360 900 Gross profit 110 200 Discount received 1700 111 900 Operating expenses 93...
The following information was extracted from the Statement of Changes in Equity of Ace Traders on 28 February 2019, the end of the financial year 1.8 700 000 Capital balance (01 March 2018) 260 000 Additional capital contributed on 01 June 2018 102 000 Drawings for the year Net profit for the year 1 080 000 Capital balance (28 February 2019) The net profit for the year is A R222 000 R18 000 C R53 800 none of the above...
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