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Financial Accounting 1 (HFAC130-1) Assignment Answers

QUESTION 1 (40 Marks) BSG Solutions buys and sells computer accessories and also offers computer training to business clients. The firm’s financial year–end is 31 December. BSG Solutions pre-adjusted trial balance as at 31 December 2023   Dr R Cr R Capital   668 635 Retained earnings   545 585 Bank loan (12%)   339 840 Furniture and equipment, at cost 308 161   Motor […]

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Financial Planning and Control Assignment Answers

QUESTION 1 (20 MARKS) 1.1 REQUIRED Use the information provided below to prepare the Pro-forma Statement of Comprehensive Income of Mentos Limited for the year ended 31 December 2024. Note: The statement must include the gross profit, operating profit, profit before tax and profit after tax. (10 marks) INFORMATION The following budgeted figures have been provided by Mentos Limited for the year ended 31 December […]

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 Peter and Pan are partners in Captain Hook Stationers Answers

QUESTION ONE                                                                                                                      [45]  Peter and Pan are partners in Captain Hook Stationers. The list of balances as at 31 December 2022, before additional information was considered, is as follows: Description Amount Office furniture and equipment 525 000 Accumulated depreciation on office furniture and equipment 65 000 Inventory 84 560 Bank 675 895 Debtors control 65 875 Allowance for credit losses 2 675 Long-term loan 432 […]

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Bachelor of Commerce in Accounting Assignment Answers

QUESTION ONE [35] Discuss the Duties of the Audit Committee of a Company. (17) Examine the Role of the Company Secretary. (18) QUESTION TWO [20] Explain how Shareholders exercise their Voting Rights? QUESTION THREE [35] Discuss the Liability of Directors and Prescribed Officers with reference to Section 77 of the Companies Act. (17) Model your understanding of Relief from Oppressive or Prejudicial Conduct in terms […]

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Fundamentals of Accounting 512 Assignment Answers

Question 1: The following information relates to Stimulus Traders: Balance at 31 December 2012 R Trading inventories on 01 January 2012 15 000 Trading inventories on 31 December 2012 12 000 Inventory of stationary on 31 December 2012 1 500 Sales 166 000 Purchase 90 000 Sales Returns 3 000 Purchases Returns 5 500 Freight on purchases 3 000 Freight on sales 10 000 Import […]

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Pitso and Steve are partners Assignment Answers

QUESTION ONE [25] Pitso and Steve are partners operating a business Topclass Pro Services. The information that follows is relevant to the business activities of the partnership for the year ended 30 June 2022. Pitso and Steve share in profits and losses in the ratio of 3:2 respectively. Topclass Pro Services Extract of relevant account balances as at 30 June 2022   Debit R Credit […]

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Business and Management Sciences Assignment Answers

QUESTION ONE (40 MARKS) Provide a comprehensive discussion on each of the following terms with applicable examples. (40) I. Assets II. Equity III. Liabilities IV. Income V. Expense QUESTION TWO (50 MARKS) You are provided with information relating to SS Ltd for the year ended 31 December 2023. Trial balance as at 31 December 2023 Debit Credit Capital   4 720 340 Drawings 400 000 […]

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ACBP5122/d/p/w Accounting 1B Assignment Answers

Question 1: Q.1.1 For each of the following statements indicate if the statement is true or false. In your answer book you need only write the number of the question and then state true or false. Q.1.1.6 – True. Questions where more than one answer are given will not be marked. True False Q1.1.1 1 Direct deposits are an example of an adjusting difference   […]

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Jimny Limited is an American based Assignment Answers

QUESTION ONE (25 Marks) Jimny Limited is an American based manufacturer of heavy-duty equipment. The company is currently investigating two projects for expansion. It can only undertake one of them and has asked your advice in deciding which one to proceed with. Project A: Production at the existing factory could be expanded. The cost of the new plant for this option would be an initial […]

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Multi Cakes SdnBhd is involved in selling cakes Assignment Answers

QUESTION 1 Multi Cakes SdnBhd is involved in selling cakes. You are required to classify the following costs according to their behavior. No.   Cost items Fixed cost Variable costs Semi-variable costs   Flour         Electricity expenses         Sugar         Salary of baker         Salary of cashier         Depreciation of […]

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