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FAC2602 ASSESSEMENT 3 OF SEM 2 of 2023 EXPECTED SOLUTIONS R99,00   Add to cart
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  5. FAC2602 - Selected Accounting Standards And Simple Group Structures (FAC2602)

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FAC2602 ASSESSEMENT 3 OF SEM 2 of 2023 EXPECTED SOLUTIONS
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THIS DOCUMENT CONTAINS FAC2602 ASSESSEMENT 3 OF SEM 2 EXPECTED SOLUTIONS compiled by your best tutors for the subject. CORRECT USE WILL HELP YOU SCORE ABOVE 80%

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  • August 22, 2022
  • October 10, 2023
  • 8
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

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Workings
Trade receivables control
Balance b/d 894,300.00
Bank 3,391,210.00
sales 3,559,310.00




Balance c/d(957400+0.5*210000) 1,062,400.00

4,453,610.00 4,453,610.00

Trade payaables control
Balance b/dTrade and other
Balance b/d : Inventory 1012300 payables 830000
Bank* 354120 Cost of sales
Other expenses(559750-310000-
340000) 215750




Balance c/d :Trade and other
payables 975000 Balance c/d : Inventory 1295670
2341420 2341420



Qustion 3

Cash receipts from customers 3,391,210.00
Cash payments to suppliers and
employees (354,120.00)
Cash generated from
operations 3,037,090.00
Interest paid (76,000.00)
Dividend paid (52,790.00)
Income tax
paid(321100+325000-355400) (290,700.00)
Net cah from operating
activities 2,617,600.00
Cashflow from Investing
Investment to maintain
production capacity
Acquisition of PPE (930,300.00)

, Investment to expand
production capacity
Proceeds from disposal of
water purification plant 230,000.00
Disposal of
land(2937900+300000- 18,900.00
Proceeds from the disposal of
financial assets 478,900.00
Net Cashflow from Investing
Activities (202,500.00)
Financing activities
Repayment of long term
Borrowings(950000-796000) (154,000.00)
Proceeds from Issue of
shares(2130000-1396900) 733,100.00
Cash flows from financing activities 579,100.00
Net cash used in financing activities2,994,200.00
Cash and cash equivalents at
the beginning of the year 798,000.00
Cash and cash equivalents at
the end of the year 3,792,200.00




Balance b/d 2489400 Depreciation 310000
Disposal(230000+34000) 264000
Acquisition 930,300.00

Balance c/d 2845700
3,419,700.00 3419700

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