Exam (elaborations)
FIN3702 Assignment 2 Semester 1
- Institution
- University Of South Africa
FIN3702 Assignment 2 Semester 1 1. 1 Gitman et al 2010, chapter 15:607 Gitman et al 2014, chapter 16:625
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FIN3702 Assignment 2 Semester 1, 1. 1
Gitman et al 2010, chapter 15:607
Gitman et al 2014, chapter 16:625
𝐶𝑎𝑠ℎ 𝑑𝑖𝑠𝑐𝑜𝑢𝑛𝑡 365
𝐶𝑜𝑠𝑡 𝑜𝑓 𝑔𝑖𝑣𝑖𝑛𝑔 𝑢𝑝 𝑑𝑖𝑠𝑐𝑜𝑢𝑛𝑡 = ×
100% − 𝑐𝑎𝑠ℎ 𝑑𝑖𝑠𝑐𝑜𝑢𝑛𝑡 𝑁
1% 365
𝐶𝑜𝑠𝑡 𝑜𝑓 𝑔𝑖𝑣𝑖𝑛𝑔 𝑢𝑝 𝑑𝑖𝑠𝑐𝑜𝑢𝑛𝑡 = × = 0.0614 = 6.14%
100% − 1% 70 − 10
2. 4
Prescribed book 2010 edition: chapter 3, page 107
Prescribed book 2014 edition: chapter 4, page 118
November December
Month January (forecast)
(actual) (forecast)
Forecasted sales (R) 200 000,00 300 000,00 360 000,00
Cash sales (R) 40% 80 000,00 120 000,00 144 000,00
Credit sales (R) 50% - 100 000,00 150 000,00
Credit sales (R) 10% - - 20 000,00
Credit receipts = 150 000 + 144000+ 20 000 = 314 000
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