Accounting Grade 12 Eastern Cape Mock 2015 Addendum (Afr)

Downloaded from hlayiso.com Naam: NASIONALE SENIOR SERTIFIKAAT GRAAD 12 SEPTEMBER 2015 REKENINGKUNDE ANTWOORDEBOEK MAKSIMUM PUNTE GEMODEREE VRAAG PUNTE BEHAAL RDE PUNTE 1 45 2 40 3 70 4 60 5 50 6 35 300 Hierdie antwoordeboek bestaan uit 17 bladsye.

Downloaded from hlayiso.com 2 REKENINGKUNDE (ANTWOORDEBOEK) (EC/SEPTEMBER 2015) VRAAG 1: KOSTE BEREKENINGE 1.1 1.1.1 D  1.1.2 F  1.1.3 A  1.1.4  1.1.5  5 1.2.1 FABRIEKSBOKOSTE (32 880 – 3 180 ) 27 900  Water (37 220 + 3 280) x 75% 30 375  I (14 820 – 1 480 ) 13 340  113 040  -2) 11 1.2 1.2.2 PRODUKSIEKOSTESTAAT – 28 FEBRUARIE 2015 D (532 000  + 12 000  + 58 520  + 1 320 ) One part 603 840  1 351 840  Factory overhead cost Refer 1.2.1 203 160  Operation 1 555 000  142 400  1 697 400 (101 400)  Operation (subtracted) Koste van produksie vir klaarprodukte 1 596 000  16 Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com (EC/SEPTEMBER 2015) REKENINGKUNDE (ANTWOORDEBOEK) 3 1.3 Naidoo se Speelgoedwinkel 1.3.1 Bewys dat die gelykbreekpunt vir 2015 korrek is, deur ʼn berekening te doen. (R54 x 2 640) 2 marks 142 560  = 2 741,5 or 2 742 units R172  – R120  R52 (2 marks) 4 1.3.2 Verduidelik of Naidoo bekommerd moet wees oor die gelykbreekpunt vir 2015. Haal relevante syfers in jou verduideliking aan. Good explanation (with figures)  satisfactory  weak  wrong “0” She should be concerned because she failed to break even (made a loss) BEP was 2 742 ; she only produced 2 640 units 3 1.3.3 Gee EEN rede vir die verandering in die direkte materiaalkoste per eenheid en die direkte arbeidskoste per eenheid. Increase is greater than an inflationary increase. Direkte Could be wastage, poor workmanship (mistakes). materiaalkoste Increased transport costs (carriage on purchased) Not able to get bulk discounts due to reduced production Disruptions in production due to strikes/load shedding. Direkte Less overtime worked. arbeidskoste More efficient machinery used in the production process. 4 Gee ʼn gepaste rede vir die afname in die gelykbreekpunt van 2014 1.3.4 tot 2015. Valid reason  Increase in variable costs. (raw materials specifically) Maintaining the selling price at R172. 2 VRAAG 1: TOTALE 45 PUNTE Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com 4 REKENINGKUNDE (ANTWOORDEBOEK) (EC/SEPTEMBER 2015) VRAAG 2: BEGROTING 2.1 Noem TWEE items wat in die Gegewe Geprojekteerde Inkomstestaat verskyn, wat nie in ʼn kontantbegroting sal verskyn nie. eEEEEAny TWO   Cost of sales Discount received Depreciation Trading stock deficit 2 2.2 120 000 – 75 000 = 45 000  (Two marks or nothing) A Bruto wins 2 132 000  x 100/160  = 82 500  (one part correct) Koste van B Or: 132 000 x 62,5% or 132 000 – (132 000 x 37,5%) verkope 4 2 400 /120 000 = 2% C Advertensies 132 000  x 2%  = 2 640  (one part correct) 4 17 100 x 108%  = 18 468  (one part correct) D Salarisse 2 17 940 (18 525 – 585) x 30% = 5 382 Netto wins na E belasting 17 940 – 5 382  = 12 558  (one part correct) 4 Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com (EC/SEPTEMBER 2015) REKENINGKUNDE (ANTWOORDEBOEK) 5 2.3 2.3.1 Die persentasie verhoging in lone wat die skoonmakers in Desember 2015 sal ontvang. 176  (3 376 – 3 200) x 100 = 5,5%  (one part correct) 3 200  4 2.3.2 Die maandelikse salaris aan die verkoopsbestuurder vir Desember 2015 verskuldig. (17 100 – 300) = 8 400 (8 400 + 300 ) x 108% = 9 396  2 (one part correct) 4 2.3.3 Die totale kredietverkope wat verwag word vir Desember 2015. (99 000  x 160% ) x 75%  = 118 800  (one part correct) 3 2.3.4 Die saldo van die lening op 1 November 2015. 585  x 1200/9 = 78 000  (one part correct) 3 2.4 Verwys na die werklike syfers vir Waardevermindering en Handelsvoorraadtekort vir Oktober 2015. Voorsien ʼn rede vir die verskil van die begrote syfers, vir elkeen. Any reasonable answer  Waardevermin- Purchase of a new asset. dering Calculation error (omission). Any reasonable explanation  Handelsvoorraad- Unanticipated stock loss. tekort Random stock take revealed stock shortage. Damaged goods noted and taken into account. 2 Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com 6 REKENINGKUNDE (ANTWOORDEBOEK) (EC/SEPTEMBER 2015) 2.5 Verwys na die werklike syfers vir Oktober 2015. Lewer kommentaar oor enige TWEE uitgawes wat nie goed beheer word deur die besigheid nie. In elkeen van die gevalle, moet jy die relevante syfers aanhaal en EEN voorstel maak oor hoe hierdie uitgawe meer effektief bestuur kan word. KOMMENTAAR (met UITGAWE VOORSTEL syfers) Any TWO of : Comment and figure  each Suggestion  each Maintenance Over budgeted/underspent. Adjust budget or use the (4 000 – 1 650) money wisely to maintain the assets. This could extend the lifespan and productivity of the assets. Telephone Overspent / under budgeted. Control usage or check for (2 000 – 4 280) over 50% Misuse. Budget correctly if found to be necessary. Advertising Underspent / over budgeted. Spend money allocated. Look 2 400 – 1 900 at different forms of advertising. May result in better sales/profit. 6 VRAAG 2: TOTALE 40 PUNTE Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com (EC/SEPTEMBER 2015) REKENINGKUNDE (ANTWOORDEBOEK) 7 VRAAG 3: MAATSKAPPYE – FINANSIЁLE STATE 3.1 PAS-BEGRIPPE 3.1.1 C  3.1.2 E  3.1.3 D  3.1.4 A  3.1.5 B  5 3.2 FINANSIЁLE STATE: NOTAS (a) VASTE BATES GEBOUE VOERTUIE TOERUSTING 750 000 Kosprys (1/3/2014) 0  375 500 Opgehoopte waardevermindering 0 (450 000) (141 500) (1/3/2014) 300 000 234 000 DRAWAARDE (1/3/2014) 0   BEWEGINGS: 2 500 000 24 800 Toevoegings  -  (56 250) Bateverkope -  - (48 040) Waardevermindering - (103 125)  140 625 210 760 DRAWAARDE (28/2/2015) 2 500 000   Kosprys 2 500 000 562 500 400 300 Opgehoopte waardevermindering (421 875) (189 540) (28/2/2015)  15 (b) GEWONE AANDELEKAPITAAL 560 000 2 924 000 Issued shares on 1 March 2014   816 000 120 000 Additional shares issued during the financial year  (50 000) (275 000) Shares re-purchased (50 000 x 5,50)   630 000 3 465 000 Issued shares on 28 February 2015 10   Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com 8 REKENINGKUNDE (ANTWOORDEBOEK) (EC/SEPTEMBER 2015) (c) BEHOUE INKOMSTE Saldo (1 Maart 2014) 89 000  Net profit after income tax (1 005 000  – 281 400 ) 723 600  Shares re-purchased (50 000 x 1,50 ) (75 000)  Ordinary share dividends (469 600)   Interim dividends (paid)  Final dividends (recommended) 217 600 680 000 x 0,32 cents  268 000 Saldo (28 Februarie 2015)  12 (d) HANDELS- EN ANDER BETAALBARE BEDRAE Accrued expenses 19 220  Shareholders for dividends refer Note above (final dividends) 217 600  SARS: Income tax 25 500  12 (2 500 000 – 2 340 500) x /11  Short term portion of loan 159 500  174 000  8 3.2.2 Bereken die netto batewaarde per aandeel (NBW) na die terugkoop van aandele.    = 593 cents  (one part correct) accept R5,93 5 Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com (EC/SEPTEMBER 2015) REKENINGKUNDE (ANTWOORDEBOEK) 9 3.2.3 (a) Watter faktore/finansiële aanwysers sal jy, as bestaande aandeelhouer in ag neem, om te bepaal of R7,20 per aandeel ʼn aanvaarbare uitreikingsprys is? Verduidelik. NAV: 593 cents in 2015 – up from 538 cents in 2014.  Market price of shares will also give an indication of investor confidence.  4 (b) V. Slink besit 52% van die uitgereikte aandelekapitaal. Bereken die minimum aantal aandele wat sy moet koop om haar posisie as hoofaandeelhouer te behou. (check 3.2 (b)) 52% of 630 000 = 327 600 shares.  50% of 700 000 = 350 000 shares.  She needs (350 000 – 327 600) = 22 401shares  Or 51% of 700 000 : 357 000 – 327 600 = 29 400 shares 4 (c) V. Slink stel voor dat sy, as hoofaandeelhouer, eerste opsie behoort te kry om die addisionele aandele te kan koop, voordat dit aan die publiek geadverteer word. Watter advies het jy vir die direkteure aangaande hierdie versoek? Good explanation  satisfactory  weak  wrong “0” Must mention that this is unethical. Not allowed by law. Insider trading. The directors must apply the law to safeguard the integrity of the business. 3 3.2.4 Het die terugkoop van aandele enige voordele vir die maatskappy? Verduidelik. Verskaf TWEE redes. Good explanation  satisfactory  wrong “0” It improves the NAV of shares which could impact positively on the market price of shares. If profits remain constant, then a higher EPS would be recorded which means better dividends for existing shareholders. Depending on the price offered to buy back the shares, the remaining shareholders may be disadvantaged if a very generous price is offered. The solvency and liquidity tests will be essential before shares are bought back. This will also have to be assessed. 4 VRAAG 3: TOTALE 70 PUNTE Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com 10 REKENINGKUNDE (ANTWOORDEBOEK) (EC/SEPTEMBER 2015) VRAAG 4: KONTANTVLOEI EN INTERPRETASIE 4.1 4.1.1 Dividende betaal: 5 4.1.2 Inkomstebelasting betaal: 4 4.1.3 Vaste bates aangekoop: 5 4.1.4 Totale kontant spandeer op beleggingsaktiwiteite: 4 4.1.5 Netto verandering in kontant en kontantekwivalente: 4 4.2 4.2.1 Tydperk van voorraad voorhande 4 Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com (EC/SEPTEMBER 2015) REKENINGKUNDE (ANTWOORDEBOEK) 11 4.2.2 Gemiddelde debiteure-invorderingstermyn:  67 85 793 600  = 31,2 days  (one part correct) 6 4.2.3 Skuld/ekwiteitsverhouding: 40 00 0  : 1 006 800  0,74 : 1  (one part correct 3 4.3 Lewer kommentaar oor die bestuur van voorraad (handelsvoorraad). Haal TWEE relevante finansiële aanwysers (met syfers) in jou antwoord aan. Any TWO valid financial Indicators (with figures)   Valid comment  Stock turnover rate: was 11 times - dropped to 9,8imes. Stock holding period was 33 days - increased to 37ays. The current ratio also increased from 1,27 : 1 to 1,43 : 1 Stock is being held for a longer period / stock is being bought less often than previously. There is some degree of stock piling or could be reduced sales. It could be argued that the business took advantage of bulk discounts or that the goods may have a reasonable shelf life period. 6 4.4 Word die debiteure en krediteure effektief bestuur? Verduidelik. Haal relevante finansiële aanwysers en/of syfers in jou antwoord aan. Quoting figures :   explanation for each indicator   Debtors average collection period: was 38 days now 31,2 days. Creditors’ average payment period: was 62 days now 65 days. A good improvement on the collection policy of the business (close to the desired 30 days). Depending on credit terms granted, it is wise to take the maximum permissible time to pay back creditors (taking advantage of “short term financing”). As long as the business does not incur any interest charges. It is also important to pay accounts on time to maintain credit- worthiness. 6 Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com 12 REKENINGKUNDE (ANTWOORDEBOEK) (EC/SEPTEMBER 2015) 4.5 4.5.1 Lewer kommentaar oor die verdienste per aandeel (VPA), die dividend per aandeel (DPA) en die opbrengs op aandeelhouersekwiteit van beide maatskappye. 6 4.5.2 Lewer kommentaar oor die finansiële hefboom van beide maatskappye. Verduidelik watter maatskappy maak meer gebruik van lenings en sê ook of dit ʼn goeie idee is of nie, vir daardie maatskappy. Quoting relevant financial indicators (with figures)   Valid comment  Debt/Equity ratio – Pixie Ltd (0,7 : 1)r (0,52 : 1) Pixie Ltd is making greater use of loans raders. ROTCE – Pixie Ltd 22% , Traders 10,8% Pixie Ltd is making a return that is greater than the current interest rate (positive gearing). So it is a good idea to continue using the loan.ng a return of 1% on capital employed. Clearly not making effective use of the loan. It would be in their interest to start repaying that debt. 4 4.5.3 Kyk na die markwaarde van die aandele asook die netto batewaarde per aandeel. Watter advies het jy vir John Cann in verband met ʼn belegging in een van hierdie maatskappye? Quoting the relevant figures   valid comment with advice  Although Vivi Traders has a better NAV than Pixie Ltd (342 cents to 335 cents), its share price is much lower than that of Pixie Ltd. It is also lower than its NAV. This is an indication that the company’s shares are not popular was investors. Their shareholders also received a smaller dividend per share which could contribute to investor confidence. I would advise John Cann to invest in Pixie Ltd as the above figures as well as other financial indicators show that the company is making steady progress. 3 VRAAG 4: TOTALE 60 PUNTE Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com (EC/SEPTEMBER 2015) REKENINGKUNDE (ANTWOORDEBOEK) 13 VRAAG 5: BTW EN REKONSILIASIES BTW 5.1 5.1.1 Zero rated items/products  5.1.2 (a)  (b)  5.1.3 VAT exempted  4 5.2 5.2.1 Bereken die totale kredietverkope vir die tydperk (BTW uitgesluit). 12 320 x 100/14 = 88 000  (one part correct) 2 5.2.2 Neem die foute en weglatings in ag en bereken die bedrag wat betaalbaar is aan, of ontvangbaar is van, SAID vir BTW. 17 430  + 12 320  – 1 260  – 672  – 63  (27 755) 13 356  – 91  + 119  (13 384) = 14 371 due to SARS  Accept different presentations of information such as T accounts, signs reversed etc. 11 5.2.3 Die interne ouditeur het deur ʼn ewekansige toets, ontdek dat die eienaar, Joe, nie die volle bedrag verskuldig aan SAID op die sperdatums betaal nie. By navrae het Joe gesê dat hy die geld spandeer het op die besigheid. Watter advies het jy vir Joe in verband met hierdie gebruik? 3 Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com 14 REKENINGKUNDE (ANTWOORDEBOEK) (EC/SEPTEMBER 2015) 5.3 KREDITEUREREKONSILIASIE KREDITEURE NO. GROOTBOEK STAAT REKENING SALDO 5 350 12 540 i 540  ii 0 X 2) 8 400  iii 4 000  iv (250)  v (2 500)  14 040  14 040  9 5.4 DEBTEUREREKONSILIASIE 5.4.1 Noem TWEE stappe wat die boekhouer moet volg wanneer hy/sy ʼn verskil tussen die Debiteurekontrolerekening en die Debiteurelys ontdek. Any valid explanation  The debtors control account is a summary of the information from the journals. It is a record of all transactions involving debtors and serves as a check that all transactions were recorded correctly. 2 5.4.2 Bereken die korrekte saldo van die Debiteurekontrolerekening en die Debiteurelys deur die gegewe tabel te voltooi. DEBTEUREKONTROLEREKENING: Vul bedrae slegs aan die toepaslike kant in. DEBIET KREDIET i 120  ii 90  iii 75  iv 530  v If amount are placed in both columns -1 mark for the incorrect one provided a mark was scored on that line. 5 Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com (EC/SEPTEMBER 2015) REKENINGKUNDE (ANTWOORDEBOEK) 15 DEBTEURELYS: Toon die aangepaste bedrag teenoor elke debiteur. Finale saldo is nie nodig nie. M. Mouse 4 510 + 90  – 1 320  – 50  D. Duck 3 270 + 75  K. Chicken 940 + 530  F. Fox 2 260 + 1 320  Amounts must have the correct signs (+/-) to score the mark. 6 5.4.3 (a) Verduidelik waarom jy bekommerd sou wees oor die bestuur van debiteure in die besigheid. Haal relevante syfers in jou antwoord aan. Any TWO valid comments with figures.   11590/23 180 = 50% of debtors are more than 60 days overdue. Only 20% of debtors are current (within the 30 days credit terms). 10% of debtors are likely to be written off as irrecoverable. Debtors are not taking advantage of the 5% discount for early payments. Collection policy needs to be more vigilant. 4 (b) Verduidelik TWEE interne kontrolemaatreëls wat die besigheid kan gebruik om die invordering van gelde van debiteure te verbeter. Any TWO valid explanations.    Shared responsibilities in preparing documents (statements, receipts, invoices) and depositing of money.  If the organization is big, could assign a set number of debtors per employee. Could result in personalized service and constant monitoring.  A separate screening department (follow-up and approval of credit).  Computerized messages to inform debtors not up to date with payments. 4 VRAAG 5: TOTALE 50 PUNTE Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com 16 REKENINGKUNDE (ANTWOORDEBOEK) (EC/SEPTEMBER 2015) VRAAG 6: VOORRAADWAARDASIE EN PROBLEEMOPLOSSING 6.1 Bereken die waarde van die sluitingsvoorraad deur gebruik te maak van die eerste-in-eerste-uit (EIEU) metode van voorraadwaardasie. 12 : 94 880  – (4 x 5 650) 22 600  = 72 280  (17 – 12) : 5  x (5 520 + 260) 5 780 = 28 900  101 180  One part correct for all method marks 10 6.2 Bereken die koste van verkope van die skootrekenaars wat verkoop is. 51 000 + 329 360 – (3 x 4 740) – (4 x 5 650) – 101 180 = 242 360   14 220  22 600    one part correct (6.1) or 51 000 + 53 760 + (99 800 – 14 220) + (9 x 5 780) = 242 360 855 80 52 020 6 6.3 Hoe sal ʼn verandering in beleid, die finansiële verslagdoening van die besigheid beïnvloed? Gee EEN verduideliking. Any reasonable answer   May result in a different closing stock figure for the balance sheet.  Will result in a different gross profit figure for the income statement.  May impact on the amount of income tax payable/ may influence the EPS. 2 6.4 Watter advies het jy vir Max in verband met sy bemarkingstrategie en sy prysbeleid, as jy die tegnologie-mark in aanmerking neem? Gee TWEE punte. ` 4 Kopiereg voorbehou Blaai om asseblief

Downloaded from hlayiso.com (EC/SEPTEMBER 2015) REKENINGKUNDE (ANTWOORDEBOEK) 17 6.5 PROBLEEMOPLOSSING 6.5.1 Identifiseer ʼn verskillende probleem (met relevante syfers) in elkeen van die takke. TAK PROBLEEM    (MET SYFERS   ) 24 cash sets = R100 800 Only R79 800 deposited MENLYN (shortfall of R21 000 : High credit sales (54 600 is 31% of total sales) Too high returns (12 sets) MOORTON Only worked 73% of the normal and choose to cash in on the overtime (52 hours) Less than 50% of sets sold (after returns) Very low sales volume (21/50) sets VINCENT Low normal hours worked (102/160 hrs) and also do not like overtime (maybe due to age) 6 6.5.2 Identifiseer EEN tak wat Siddie moet oorweeg om te sluit. Voorsien ʼn geldige rede vir jou keuse. Branch  Appropriate reason  (Award mark for Branch name only of reason is relevant) Moorton : High rent / average sales (turnover) / young, poor disciplined sales person with too much returns. Vincent : John is near retirement / working few hours/ no effort to increase sales 3 6.5.3 Gee vir Siddie EEN voorstel hoe om die probleem wat in VRAAG 6.5.1, vir die ander takke geïdentifiseer is, op te los.  TAK INTERNE BEHEERMAATREЁL Sally is energetic but need to be audited regularly Menlyn (checking sales and deposits) Possibl y change to another branch or division of duties. Moorton Time sheet for normal time / set targets / minimise or overtime hours / calculate commission on net sales Vincent Provide John with an assistant /set sales targets / make a set number of hours for overtime. 4 VRAAG 6: TOTALE 35 PUNTE TOTAAL: 300 Kopiereg voorbehou Blaai om asseblief