100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MANCOSA FIN REP & ANALYSIS UNIT 1 SOLUTIONS $2.80
Add to cart

Exam (elaborations)

MANCOSA FIN REP & ANALYSIS UNIT 1 SOLUTIONS

 22 views  0 purchase
  • Course
  • Institution

questions are on the next doc leave a review please

Preview 1 out of 3  pages

  • March 14, 2024
  • 3
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
avatar-seller
Page 1 of 3


FINANCIAL REPORTING AND ANALYSIS
UNIT 1: SOLUTIONS (Figures in red are the dates of the transactions)
1.
SS STORES
STATEMENT OF COMPREHENSIVE INCOME FOR THE MONTH ENDED 30 APRIL 2023
WORKINGS R
Sales 17 R3 000 + 18 R21 000 + 30 R36 000 60 000
Cost of sales 17 R2 000 + 18 R14 000 + 30 R24 000 (40 000)
Gross profit R60 000 – R40 000 20 000
Other operating income R300 + R1 000 1 300
Discount received 19 300
Rent income 27 1 000
Gross operating income R20 000 + R1 300 21 300
Operating expenses R800 + R4 000 + R2 000 + R20 + R3 000 + R10 000 (19 820)
Stationery 05 800
Rent expense 12 4 000
Consumable stores 25 2 000
Discount allowed 28 20
Water and electricity 29 3 000
Salaries and wages 30 10 000
Operating profit R21 300 – R19 820 1 480
Interest income 0
Interest expense 30 R100 000 X 12% X 1/12 (1 000)
Net profit for the month R1 480 – R1 000 480

2.
STATEMENT OF CHANGES IN EQUITY FOR THE MONTH ENDED 30 APRIL 2023
R
Balance on 31 March 2023 0
Additional capital contributed 01 200 000
Net profit for the month (See statement of comprehensive income) 480
Drawings 23 (700)
Balance on 30 April 2023 199 780

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller BookSquad. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $2.80. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52510 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$2.80
  • (0)
Add to cart
Added