QUESTION 1 (27 marks) Scenario 1 GreenTech Innovations Ltd has recently developed a new type of battery technology that significantly extends the life of electric car batteries. This technology is protected by a patent, and GreenTech Innovations Ltd controls the rights to this technology due to its development and registration of the patent. GreenTech Innovations Ltd expects that this technology will generate substantial future economic […]
Posted: September 4, 2024
QUESTION 1 (42 marks) Waves (Pty) Ltd is a company in Jefferys Bay that manufactures surfboards and various surfing equipment. Waves (Pty) Ltd has a 30 June financial year-end. Wave (Pty) Ltd has been renting its current manufacturing plant from a third party, but the board of directors has approved the purchase of a piece of land and constructing its own manufacturing plant. Purchase of […]
Posted: September 3, 2024
QUESTION ONE [25] Prepare the indirect cashflow statement for the financial year ended 30 June 2023 for Bibby Limited based on the following financial information provided: Statement of Financial Position as at 30 June 2023 Assets 2023 2022 Non-currentassets Property,Plant and Equipment 2 485000 2398 000 Current assets Inventory 1 279000 985300 Accounts receivable 412 000 535000 Cash and Cash equivalents […]
Posted: August 19, 2024
QUESTION 1 [32 Marks] The following list of accounts was extracted from the general ledger of Alpha Traders on 29 February 2024, the latest financial year of the business. Accounts in the general ledger Balance(R) Capital 655500 Drawings 187618 Landandbuildings 526000 Machinery 106950 Vehicles 255600 Furniture 68170 Bankoverdraft 34080 Inventory 43800 Long-termloan 184040 Tradereceivables 85200 Tradepayables 42600 Incomereceivedinadvance 75000 Sales 639000 Costofsales 298200 Rentincome 32650 Interestonloan […]
Posted: August 19, 2024
QUESTION ONE [20] Show how the below transactions affect the financial position of the business as represented by A = E + L. You need to clearly indicate whether the element has increased or decreased and provide the relevant amount and account that would be affected. EG. The business pays R6 333 per month for the rental of some business premises. All rentals were paid […]
Posted: August 14, 2024
QUESTION (30 marks) The Protea Ltd Group is a group of listed companies in the floriculture industry. Below are the financial statements of the Protea Ltd Group of companies for the financial year ended 31 December 2023: PROTEA LTD GROUP: CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 2023 2022 R R ASSETS Non-current assets 3 515 000 1 […]
Posted: July 12, 2024
SECTION A [60 MARKS] Answer ALL the questions in this section. QUESTION 1 (20 Marks) 1.1 REQUIRED Use the first-in-first-out (FIFO) method of inventory valuation to complete the following table for the purchases and issues of components stated below: (6 marks) Purchases Issues Balance Date Quantity Price Amount Quantity Price Amount Quantity Price Amount […]
Posted: June 4, 2024
QUESTION 1 (34 Marks) Karoo Ltd is a retailer of furniture and fittings that allows customers to buy on credit. The following information pertains to Karoo’s for the year ended 31 March 2024: Extract from the pre-adjusted trial balance of Karoo as at 31 March 2024 Trade receivables R2 208 960 Allowance for doubtful debts R220 896 The following are the policies of Karoo Ltd: […]
Posted: April 24, 2024
Financial projections and capital expenditure of Elsies limited Elsies Limited is a nationally recognised supplier of catering equipment. It offers safe and secure shopping via its online store and its state-of-the-art premises in each of the provinces of South Africa. The company offers a wide selection of catering equipment and supplies at competitive prices. The target market includes restaurants, hotels, hostels and spaza shops. Their […]
Posted: April 21, 2024
Question 1: (25 marks) On 14 November 2023 Flying Solo Airlines (Pty) Ltd had a sale on their return tickets from Johannesburg to Cape Town. As a result, 15 return airline tickets of R1250 each were sold to passengers travelling in May 2024. Payment for these tickets were made by the passengers on the 15 November 2023 and transferred into Flying Solo Airlines (Pty) Ltd’s […]
Posted: April 17, 2024
