BACKGROUND INFORMATION AND REQUIREMENTS: You are provided with the source documents of Muzi Traders (owner M Muzi) for May 2022. Anele Mxinwa has been recently employed as the bookkeeper. The previous bookkeeper completed the subsidiary books until the 20 May 2022. You are required to assist Anele Mxinwa to complete the subsidiary journals and the subsidiary ledgers, prepare the General ledger accounts and Trial balance […]
Posted: September 12, 2024
QUESTION 1 (50 marks) On 1 July 2021, Bruno Ltd (“Bruno”) acquired 45% of the issued shares in a JSE-listed company, Pluto Ltd (“Pluto”) from a third party. Both Bruno and Pluto have a 30 June year-end. The cost of the 45% shareholding was R625 000 and thereby Bruno obtained significant influence over Pluto. The purchase was correctly accounted for in the accounting records of […]
Posted: March 27, 2024
QUESTION 1 (20 MARKS) 1.1. (5 MARKS) a. Give five examples of income. b. Give five examples of expenditure. 1.2.Name the five elements of financial statements. (5 MARKS) 1.3. (10 MARKS) a. Calculate the cost price of goods which were sold for R150 000 if the profit mark-up was 20% on the cost price. b. Calculate the cost price of goods which were sold for […]
Posted: March 10, 2024
QUESTION ONE [25] N Sibiya is the sole owner of Sibiya’s General Dealers. At 31 March 2021 the entity had the following assets and liabilities: (show all workings): R Equipment…………………………………………………………. 36 000 Inventory…………………………………………………………… 108 000 Bank (favourable)…………………………………………………. 18 000 Trade receivables control………………………………………… 84 000 Accrued expenses………………………………………………… 12 000 Trade payables control…………………………………………… 72 000 Required: Calculate the Net Asset Value of Sibiya’s General Dealers at […]
Posted: September 14, 2023
Question 1 (Marks: 5) Complete the table below by correctly classify the account by putting an X in the correct column. Duplicate this table in your answer and then add a X in the correct columns. Name of Account Non‐ Current Asset Current Asset Non‐ Current Liability Current Liability Expense Income Proprietary accounts Capital Bank […]
Posted: April 3, 2023
Explain the link between laying a good foundation of ‘pattern and structure’ and successful algebraic thinking Explain what a ‘repeating pattern’ is and give an example Explain what a ‘growing pattern’ is and give an example Clarify the difference between procedural and conceptual understanding Define ‘functional thinking’ and explain the relevance it has to teaching underlying concepts instead of focusing on the computational aspects Design […]
Posted: November 1, 2022
Question 1 a. Explain the main purpose of a trial balance. (2 marks) b. Explain the differences between a bad debt and a doubtful debt. Illustrate with the accounting treatment of each. (4 marks) c. State what is meant by the term ‘accounting policies’. (2 marks) d. Explain why both a debit entry and a credit entry are used to record each transaction. Give an […]
Posted: October 21, 2022
QUESTION 1 (25 MARKS) a) Najwa took a RM30,000 car loan from Mudah Bank. The bank charged Najwa 2.5%interest and requires her to pay at the end of each year for 4 years. Calculate theyearly repayment amount and complete the following loan amortization schedule. Year Beginning Value Repayment amount Interest paid Principal paid Ending Value 1 2 3 4 (10 marks) b) SejatiSdn. Bhd. had […]
Posted: October 11, 2022
