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THE BEST EXAM FINANCIAL ACCOUNTING BUNDLE WITH PREVIOUS EXAM OPPORTUNITIES AND TEST
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- North-West University (NWU)
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PC-ACCS121.1Requirements for this paper/Benodighede vir hierdie vraestel: Resources/Hulpmiddels:
Answer Scripts/ Multi-choice cards (A4)/
Antwoordskrifte: Multikeusekaarte (A4)
Attendance Slips (Fill-in Paper)/ Graph Paper/
Presensiestrokies (Invulvraestel): GrafiekPapier
Scrap Paper/ Calculators/
Rofwerkpapier Sakrekenaars
Multi-choice cards (A5)/ Laptop (Power not provided)/
Multikeusekaarte (A5) Skootrekenaar (Krag word nie voorsien nie)
Type of Assessment/ Duration/
Tipe Assessering: Tydsduur:
Paper Number/ Maximum Marks/
Vraestel Nommer: Maksimum Punte:
Module Code/ Date/
Modulekode: Datum:
Examiner(s)/ Time/
Eksaminator(e): Tyd:
Internal/Interne
Moderator(s):
External Moderator(s)/
Eksterne Moderator(s):
Submission of answer scripts/Inhandiging van antwoordskrifte:
,Instructions
1. You are reminded that answers may NOT be written in pencil or erasable pen.
2. The marks shown against the requirement(s) for each question should be taken as an indication of the
expected length and the required depth of the answer.
3. Answer the questions using:
Appropriate arrangement and presentation;
Clarity of explanation;
Logical arguments; and
Clear and concise language
Marks will be awarded for the above.
4. Non-programmable calculators are allowed, however smart watches are NOT allowed.
5. All books must be handed in.
6. Clearly show all calculations.
7. Round off to the nearest rand, unless otherwise stipulated in a question.
8. Assume that all amounts are material except where the contrary is stated.
CONTENT MARKS MINUTES
Question 1 – Financial Statements 20# 36 minutes
Question 2 – Non-profit entity 20# 36 minutes
Question 3 – Statement of cash flow 20# 36 minutes
Question 4 – Ratio analysis 20# 36 minutes
Question 5 – Bank reconciliation 20# 36 minutes
#Includes ½ marks
ACCS 121: Paper No./Vraestel Nr. 1 | Exam 1st opp/Eksamen 1e gel | /Full-time/Voltyds/ 1/26
,QUESTION 1 (20 MARKS/36 MINUTES)
The following balances appeared in the books BAYEDE TRADERS on 28 February 2018.
R
Capital: Mr Nice-guy 300 000
Drawings 30 000
Land and buildings 250 000
Equipment at cost 50 000
Vehicle at cost 44 000
Accumulated depreciation: equipment 20 000
Accumulated depreciation: vehicle 15 840
Rent received 3 250
Wages and salaries 23 100
Debtors 80 600
Creditors 46 000
Bank 104 990
Allowance for credit losses 4 100
Commission received 11 000
Sales 800 000
Inventory on 01 March 2017 20 000
Purchases 590 000
Sundry expenses 1 500
ACCS 121: Paper No./Vraestel Nr. 1 | Exam 1st opp/Eksamen 1e gel | /Full-time/Voltyds/ 2/26
, Additional information that still needs to be taken into account:
1. Depreciation has to be provided for as follows:
Equipment 20% per annum on cost,
Vehicle 20% per annum on carrying value.
2. One week’s wage, R60, for February 2018 was paid in March 2018.
3. Rent has been received for the period 01 March 2018 to 31 March 2018.
4. Commission earned on the sale of meat on behalf of Nyama Butchery R1 000 has not yet been
accounted for.
5. Further irrecoverable debts of R200 must be written off.
6. Allowance for credit losses on 28 February 2018 must be adjusted to R4 020.
7. Inventory on hand at 28 February 2018 has been valued at R10 000.
REQUIRED – QUESTION 1 MARKS
a) Prepare the statement of profit or loss and other comprehensive income of 12.5 12.5
Bayede Traders for the year ending 28 February 2018.
Communication Skills and layout skill 1 13.5
b) Prepare the statement of change in equity of Bayede Traders for the year 1.5 15
ending 28 February 2018.
c) Prepare ONLY the current assets and current liabilities in the statement of 5 20
financial position of Bayede Traders on 28 February 2018.
TOTAL MARKS 20
ACCS 121: Paper No./Vraestel Nr. 1 | Exam 1st opp/Eksamen 1e gel | /Full-time/Voltyds/ 3/26
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