XYZ Traders: DATA-SET PROVIDED FOR THE YEAR ENDED 31 DECEMBER 2022 Account Debit Credit Bank charges 1 300 Cleaning 1 500 Computer equipment 12 500 Cost of sales 32 000 Credit losses 420 Depreciation 2 300 Fuel and oil 56 000 Garden maintenance 1 300 Goods sold 125 000 Interest on loan 2 600 Interest […]
Posted: May 20, 2023
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 […]
Posted: February 6, 2023
QUESTION 1 a. In a business, provide two examples of explicit cost and two examples of implicit cost. Explain how these costs affect accounting and economic profit. 2 Marks b. With relevant assumptions, use a numerical example to explain the significance of diminishing marginal returns to a firm. 3 Marks QUESTION 2 Do you agree with the following comment, “Firms are to continue production despite […]
Posted: November 22, 2022
QUESTION ONE (30 MARKS) The following information was taken from the books of Nhlakanipho & Shaun: Balances in the general ledger of Nhlakanipho & Shaun at the financial year end – 31 March 2019 Account Debit (R) Credit (R) Capital: Nhlakanipho (1 April 2016) 95 000.00 Capital: Shaun (1 April 2016) 80 000.00 Current: Nhlakanipho (1 April 2016) 19 000.00 Current: Shaun […]
Posted: October 7, 2022
Following is the independent situation of the taxpayers in Malaysia in 2021: Bryan formed ECO Sdn Bhd on 1 January 2018 with paid up Ordinary Share Capital of RM2,230,000. The company recorded a statutory income of RM617,800 and rental income of RM45,260. Belina and five other shareholders commenced a business named Graphics Sdn Bhd since 2019. In year 2021, the company has a gross income […]
Posted: September 17, 2022
The following data has been extracted from the operating records of HPPT Solution Sdn Bhd for the last two quarters of the year to 31 December 2020: Quarter 3 Production units 7,000 Sales units 5,500 RM Selling price per unit 100 Variable manufacturing cost per unit: Direct material cost 20 Direct labor cost 15 Variable overheads 10 Fixed production overheads are budgeted at RM120,000 for […]
Posted: September 16, 2022
