Assume a random number generator object named randGen exists. What are the possible values for randGen.nextInt(6) + 5?
INSTRUCTIONS 1. Answer ALL the questions an…
INSTRUCTIONS 1. Answer ALL the questions and make sure you follow the instructions. 2. A special ANSWER BOOK is provided in which you must answer the relevant questions. 3. Show ALL calculations to earn part marks. 4. MAKE SURE YOU LOAD THE CORRECT ANSWER SHEET!!!! WRONG DOCUMENTS = 0 MAKE SURE YOU SAVE YOUR FILES CORRECTLY: ACCN 11E T02 SBA004 SURNAME NAME YOUR DOCUMENT MUST BE IN PDF FORMAT 5. If you choose to complete your test by hand, make sure it is neat and legible. Illegible handwriting = 0. 6. NB! REMEMBER TO SUBMIT THE PAPER (QUIZ) TO GET ACCESS TO THE UPLOAD (QUIZ). ACCN 11E SBA004 AB (1).pdf ACCN 11E SBA004 AB (1).docx
Tangible Asset note as extracted from the financial st…
Tangible Asset note as extracted from the financial statements on 28 February 2021: LAND & BUILDINGS R VEHICLES R EQUIPMENT R Carrying value on 1 March 2020 2 400 000 208 000 119 800 Cost 2 400 000 520 000 180 000 Accumulated depreciation – 0 – (312 000) (60 200) Movements ? ? ? Additions at cost A – 0 – – 0 – Disposals at carrying value – 0 – F – 0 – Depreciation for the year – 0 – E B Carrying value on 28 Feb 2021 ? 83 200 D Cost ? 260 000 180 000 Accumulated depreciation – 0 – G C
QUESTION 1: APPROPRIATION AND DISPOSALS Infor…
QUESTION 1: APPROPRIATION AND DISPOSALS Information relating to Lunabugz with partners Amy and Mari. The following balances were extracted from the books of Lunabugz on: 28/02/20 R 01/03/2019 R Capital : Amy 250 000 230 000 Capital : Mari 150 000 180 000 Current account : Amy 48 150 Cr 7 200 Dr Current account : Mari 700 Dr 10 250 Cr Drawings : Amy ? – Drawings : Mari ? – Net profit for the year 224 000 1. Amy received a monthly salary of R6 000 from 1 March 2020 which was increased to R6 400 on 1 December 2019. He has also taken his salary for March 2020 in advance. 2. Mari is entitled to a salary of R50 800 per annum. 3. Amy received a bonus. (You need to calculate/unlock this figure). 4. Partners are entitled to interest on capital at 12% per annum. The changes to capital balances took place on 1 January 2020. 5. The total amount for Amy, once the above entries have been made, amounted to R106 200 (his primary distribution). 6. Profits and losses are shared in the ratio of capital balances at the end of each financial year. 7. An old delivery vehicle was traded in on 1 December 2019 for a new delivery vehicle at a loss of R12 270. The old delivery vehicle was originally purchased on 1 June 2016 for R250 000. Depreciation on vehicles is recorded at 15% per annum using the straight-line method. All entries were made before the net profit for the year was calculated. REQUIRED: 1.1 Use the information provided to make the following notes to the financial statements. 1.1.1 Capital 6 1.1.2 Current accounts 35 1.2 Draw up the Asset Disposal account to clearly show the trade-in value received on the old delivery vehicle. 14
ADJUSTMENTS STILL TO BE TAKEN INTO ACCOUNT FOR THE FINAN…
ADJUSTMENTS STILL TO BE TAKEN INTO ACCOUNT FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2021: 1. Funky Builders, a cash contractor, made the following alterations to the building: • Built an additional storeroom, R100 000. • Repaired a leak in the roof, R8 000. 2. Depreciation on equipment amounts to R11 980 for the year. 3. Vehicles are depreciated at 20% p.a. on the diminishing balance method. The business owns two identical vehicles that were originally bought on the same date. One of these vehicles was sold on 30 November 2020. The cash selling price of R80 000 has been incorrectly credited to Sales. 4. The insurance for March and April 2021 was paid in advance. 5. It was decided to write off the debt of R. Wright as irrecoverable, R700. 6. Adjust the provision for bad debts to 5% of book debts. 7. The following stock was on hand according to a physical stock take on 28 February 2021: • Trading stock R161 800. • Packing materials R 4 800. 8. The tenant has paid rent for only ten months. However, he has informed Lunabugz that he has personally paid R24 000 to repair faulty wiring. This amount must be offset against the outstanding and future rental payments. 9. Provide for outstanding interest on the fixed deposit at 8% per annum. 10. The details of the week ended 28 February 2021 reflects an employee, appointed on 22 February 2021, has not been entered into the Wages Journal. His details are as follows: • Gross wage R2 800 • PAYE deduction R 230 • UIF R 28 The business contributes on a rand-for-rand basis to UIF. The employee will receive a cash envelope with his net wages on 1 March 2021. 11.. The mortgage bond statement for the year reflected R125 600 as the interest to be capitalised for the year ended 28 February 2021. 12. According to the internal auditor, the gross profit for the year ended 28 February 2021 was 40% of the net sales for the year. REQUIRED: 2.1 Complete the Tangible Asset note by supplying the missing details marked A-G. Show your calculations in order to achieve part-marks. 15 2.2 Draw up the Income Statement for the year ended 28 February 2021. 64 2.3 Prepare the notes to the Balance Sheet as at 28 February 2021. NB: Lunabugz show all their current liabilities under Trade and other payables and not separately in the Balance Sheet 34
QUESTION 2 FINANCIAL STATEMENTS Information pertaining t…
QUESTION 2 FINANCIAL STATEMENTS Information pertaining to Lunabugz, a store that sells wide variety of computers and accessories. The following were extracted from the Pre-Adjustment Trial Balance of Lunabugz on 28 February 2021: DEBIT R CREDIT R BALANCE SHEET ACCOUNTS Land and buildings 2 400 000 Vehicles 520 000 Accum. depreciation on Vehicles (1/3/20) 312 000 Equipment 180 000 Accum. depreciation on Equipment (1/3/20) 60 200 Trading Stock 164 000 Debtors Control 86 200 Provision for Bad Debts 4 308 Fixed Deposit : Uwais Financial Services 120 000 Mortgage Bond : Gruber Bank 820 000 Creditors Control 176 502 NOMINAL ACCOUNTS Sales 2 432 600 Cost of sales ? Debtors’ allowances 28 600 Rent income 102 000 Interest on fixed deposit 8 000 Repairs 42 000 Packing materials 45 800 Bad debts 9 000 Salaries and wages 199 500 UIF Contribution 1 995 Insurance 50 400
Queremos ir a la playa. No necesitamos que …… hoy.
Queremos ir a la playa. No necesitamos que …… hoy.
Slagoffers van kuberafknouery moet die bewyse gebruik om kub…
Slagoffers van kuberafknouery moet die bewyse gebruik om kuberafknouery te rapporteer aan internet en selfoon diens verskaffers. (1)
Slagoffers van kuberafknouery moet die bewyse gebruik om kub…
Slagoffers van kuberafknouery moet die bewyse gebruik om kuberafknouery te rapporteer aan internet en selfoon diens verskaffers. (1)
Sosiale media-gehore beinvloed nie ‘n rekening se inhoud of…
Sosiale media-gehore beinvloed nie ‘n rekening se inhoud of forseer die gebruiker om ‘n sekere beeld te handhaaf nie. (1)