Homework Answers
c.R96,000
| creditors control | 60,000 |
| bank overdraft | 30,000 |
| accrued expenses | 6,000 |
| total trade and other payables | 96,000 |
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(Intel) inside CORE I5 Windows 7 1.10 Trade and other payables in the Statement of Financial Position as at 2...
The flying langes in Equity of Ace Traders on 25 Februar Oving information was extracted from...
The flying langes in Equity of Ace Traders on 25 Februar Oving information was extracted from the Statement of Changes in Equity of Ace bruary 2019, the end of the financial year: 700 000 260 000 102000 Hade and other payah amounts to R97 000 R67 000 R96000 none of the Capital balance (01 March 2018) Additional capital contributed on 01 June 2010 Drawings for the year Net profit for the year Capital balance (28 February 2019) 1 080 000...
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...
The financial result of a business is evident in the ______________. A Statement of Comprehensive Income...
The financial result of a business is evident in the ______________. A Statement of Comprehensive Income B Statement of Financial Position C Statement of Cash Flows D Assets section of the Statement of Financial Position 1.3 _____________ account is not an example of an expense account. A Trading inventory deficit B Interest on loan C Discount allowed D Motor vehicles 1.4 Which one of the following does not match the correct source document to the kind of transaction? A B...
financial accounting
Financial Reporting and Analysis Case Study (1).pdf
P. Gumede is the proprietor of PG Stores. He commenced trading on 01 March 2017. At the end of the second year of trading, his bookkeeper resigned unexpectedly and Mr Gumede found that the financial statements for the year ended 28 February 2019 were incomplete.
He requires your assistance in completing them. The pre-adjustment trial balance, adjustments and additional information that were extracted from the accounting records as at 28 February 2019 are...
2 16 RDD 71% je QUESTION 1 (20 MARKS) P. Gumede is the proprietor of PG...
2 16 RDD 71% je QUESTION 1 (20 MARKS) P. Gumede is the proprietor of PG Stores. He commenced trading on 01 March 2017. At the end of the second year of trading, his bookkeeper resigned unexpectedly and Mr Gumede found that the financial statements for the year ended 28 February 2019 were incomplete. He requires your assistance in completing them. The pre-adjustment trial balance, adjustments and additional information that were extracted from the accounting records as at 28 February...
Question 1, 2 and 3 GIVEN INFORMATION FOR QUESTIONS 1-3 The financial information below pertains to Notsonice CC. The information was prepared by the Close Corporation's accountant. The me...
Question 1, 2 and 3
GIVEN INFORMATION FOR QUESTIONS 1-3 The financial information below pertains to Notsonice CC. The information was prepared by the Close Corporation's accountant. The members of the Close Corporation are considering hiring a more suitable accountant as the statement of financial position never balances. EXTRACT OF BALANCES OF NOTSONICE CC AS AT 31 JULY 2019 Member's contribution: Not Member's contribution: So Member's contribution: Nice Land and buildings at cost Furniture and equipment at cost Accumulated depreciation:...
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 Inventaries. 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...
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...
QUESTION 4 PARTNERSHIPS (20 MARKS) REQUIRED Use the information provided below to prepare the following: 4.1...
QUESTION 4 PARTNERSHIPS (20 MARKS) REQUIRED Use the information provided below to prepare the following: 4.1 Current Accounts section of the Statement of Changes In Equity for the year ended 29 February 2016. Use the following format: (16) EXTRACT OF STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 29 FEBRUARY 2016 Current Accounts Romeo Juliet Total Balance at 28 February 2015 Net profit for the year Interest on capital Salaries Bonus Profit Share Drawings Balance at 29 February...
QUESTION 4 PARTNERSHIPS (20 MARKS) REQUIRED Use the information provided below to prepare the following: 4.1...
QUESTION 4 PARTNERSHIPS (20 MARKS) REQUIRED Use the information provided below to prepare the following: 4.1 Current Accounts section of the Statement of Changes In Equity for the year ended 29 February 2016. Use the following format: (16) EXTRACT OF STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 29 FEBRUARY 2016 Current Accounts Romeo Juliet Total Balance at 28 February 2015 Net profit for the year Interest on capital Salaries Bonus Profit Share Drawings Balance at 29 February...
The flying langes in Equity of Ace Traders on 25 Februar Oving information was extracted from the Statement of Changes in Equity of Ace bruary 2019, the end of the financial year: 700 000 260 000 102000 Hade and other payah amounts to R97 000 R67 000 R96000 none of the Capital balance (01 March 2018) Additional capital contributed on 01 June 2010 Drawings for the year Net profit for the year Capital balance (28 February 2019) 1 080 000...
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...
2 16 RDD 71% je QUESTION 1 (20 MARKS) P. Gumede is the proprietor of PG Stores. He commenced trading on 01 March 2017. At the end of the second year of trading, his bookkeeper resigned unexpectedly and Mr Gumede found that the financial statements for the year ended 28 February 2019 were incomplete. He requires your assistance in completing them. The pre-adjustment trial balance, adjustments and additional information that were extracted from the accounting records as at 28 February...
Question 1, 2 and 3
GIVEN INFORMATION FOR QUESTIONS 1-3 The financial information below pertains to Notsonice CC. The information was prepared by the Close Corporation's accountant. The members of the Close Corporation are considering hiring a more suitable accountant as the statement of financial position never balances. EXTRACT OF BALANCES OF NOTSONICE CC AS AT 31 JULY 2019 Member's contribution: Not Member's contribution: So Member's contribution: Nice Land and buildings at cost Furniture and equipment at cost Accumulated depreciation:...
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 Inventaries. 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...
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...
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