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FAC1601-ASSIGNMENT 5, SEMESTER 2, 2022
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FAC1601-FINANCIAL ACCOUNTING AND REPORTING ASSIGNMENT 5 SEMESTER 2 2022 QUESTIONS & ANSWERS
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FAC1601ASSIGNMENT 5
SEMESTER 2
2022
, The information below relates to questions 1 – 16.
The following information pertains to Honey Limited.
Extract from ledger account balances as at 30 September:
2022 2021
(R) (R)
Share capital: Ordinary shares 380 500 338 300
Share capital: Preference shares 291 000 264 700
Retained earnings 66 200 48 400
Long-term loan - ABC Bank 88 000 120 000
Land and buildings at cost 623 000 401 000
Machinery and equipment at carrying amount 262 300 222 700
Inventory 83 500 73 000
Trade receivables control 92 700 83 300
Listed investments 110 000 0
Bank 25 200 46 300
Trade payables control 66 500 52 600
SARS (income tax) 63 400 48 700
Dividends payable 46 200 62 000
Dividends receivable 0 0
Accrued expenses (wages) 0 11 400
Prepaid expenses 11 200 4 200
Revenue 805 800
Cost of sales 392 400
Administrative, distribution and other expenses 160 200
Fair value gain on listed investments 8 600
Dividends income 20 800
Loss on sale of machinery and equipment 10 100
Income tax expense 55 200
Depreciation 15 500
Wages 84 400
Insurance expense 14 100
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