Exam (elaborations)
FAC1601 ASSESSMENT 3 SEM 2 OF 2024 EXPECTED QUESTIONS AND ANSWERS
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THIS DOCUMENT CONTAINS FAC1601 ASSESSMENT 3 SEM 2 OF 2024 EXPECTED QUESTIONS AND ANSWERS. THE QUESTIONS HAVE BEEN CAREFULLY WORKED
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By: movietrailers • 1 month ago
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MAKE SURE YOU ARE DOING THE RIGHTSTATEMENT
Non-current assets 1888800 Investments 376,925
Land and buildings at
Property, plant and equipment(1119400+658300-
revaluation (1 March 1,119,400
87900-59000+118000)
1748800 2023)
Investments - Unlisted 140000 Equipment at cost 658,300
Accumulated
87,900
depreciation: Equipment
Revaluation surplus (1
Current assets 120,200
732325 March 2023)
Inventories(54400+5100) Inventory (1 March 2023) 46,200
59,500
Trade and other receivables(283500-7400-8400-
Bank 137,300
12200) 255500
Cash and cash equivalents(137300+8000) Trade receivables control 283,500
145300
Listed share investment(17550*15.5) 272025 Petty cash 8,000
Share capital: Ordinary
755,300
shares (1 March 2023)
Retained earnings (1
Total assets 280,700
2621125 March 2023)
Loan: Broederstroom Ban
125,500
k
EQUITY AND LIABILITIES SARS (income tax) (Dr) 35,300
Sales 3,205,100
Allowance for settlement
Total equity 7,400
discount granted
2144200
,Share capital(755300+50000*5.4) Carriage on purchases 22,600
1025300
Retained earnings(280700+600000) Trade payables control 265,900
880700
Income received in
Other components of equity(120200+118000) 8,200
238,200 advance
Allowance for credit
7,200
losses
Settlement discount
Total liabilities 5,700
712100 granted
Auditor's remuneration 141,800
Non-current liabilities 100400 Carriage on sales 28,300
Settlement discount
Long-term borrowings(4/5*125500) 2,400
100400 received
Purchases 305,000
Current liabilities Salaries and wages 379,200
611700
Trade and other payables(265900+8200) Directors’ remuneration 200,100
274100
Dividends payable(1.4*150000) 210000 Stationery 11,400
Current tax payable(137800-35300) 102,500 Telephone 16,600
Current portion of long-term loan Income tax for the year 137,800
25100
Revaluation surplus for
118,000
the year
Total equity and liabilities Provision for depreciation 59,000
2856300
,Closing Inventory on hand 54,400
Stationery on hand 5,100
, SHORT QUESTIONS
184000 184000
99000 95000
205000 205000
488000 484000
Capitalisation 195200 Capitalisation 193600
Total
number of
Total number of ordinary
ordinary shares shares
issued 683200 issued 677600
Number ord shares 550000
Number of
capitalisation
shares to be
issued 220000
pref shares 190000 pref shares 194000
pref shares 74000 pref shares 74000
amount of Pref amount of
div 141530 Pref div 144050
Number of Number of
capitalisation capitalisatio
shares 330000 n shares 300000
Value of Value of
capitalisation capitalisatio
shares to be n shares to
issued 2277000 be issued 2070000
Number of shares 550000 Number of shares500000
Number of shares 330000 Number of shares300000
Ammount of
Ammount of ordinary
ordinary share share
dividend 1320000 dividend 1200000
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