# Accounting Grade 12 Gauteng Mock 2016 Memo (English) > Grade 12 Accounting memorandum from the Gauteng Mock Exam 2016 (English), 36 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/grade-12-nsc-accounting-preperatory-english-2016-possible-answers/ae871d10-9287-41b6-b2a9-c50fdce80cba - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Language: English - Document type: Memorandum - Year: 2016 - Exam period: Gauteng Mock Exam - Curriculum: CAPS - Pages: 36 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 12](https://www.hlayiso.com/library/grade-12) › [Accounting](https://www.hlayiso.com/library/grade-12/accounting) › [Accounting Grade 12 Gauteng Mock 2016 Memo (English)](https://www.hlayiso.com/library/grade-12-nsc-accounting-preperatory-english-2016-possible-answers/ae871d10-9287-41b6-b2a9-c50fdce80cba) ## About this document Accounting · Grade 12 · Gauteng Mock Exam · 2016 · English. Memorandum, 36 pages. Read online or download the PDF. Read it free online on the page above; download the PDF from there. ## Document text Text extracted from the PDF. Layout, diagrams and tables may not survive extraction. ### Page 1 Downloaded from hlayiso.com PREPARATORY EXAMINATION 2016 MEMORANDUM ACCOUNTING (10710) MARKING PRINCIPLES 1. Penalties for foreign items are applied only if the candidate is not losing marks elsewhere in the question for that item (no penalty for misplaced item). No double penalty applied. 2. Penalties for placement or poor presentation (e.g. details) are applied only if the candidate is earning marks on the figures for that item. 3. Full marks for correct answer. If the answer is incorrect, mark the workings provided. 4. If a pre-adjustment figure is shown as a final figure, allocate the part-mark for the working for that figure (not the method mark for the answer). 5. Unless otherwise indicated, the positive or negative effect of any figure must be considered to award the mark. If no + or – sign or bracket is provided, assume that the figure is positive. 6. Where indicated, part-marks may be awarded to differentiate between differing qualities of answers from candidates. 7. Where penalties are applied, the marks for that section of the question cannot be a final negative. 8. Where method marks are awarded for operation, the marker must inspect the reasonableness of the answer and at least one part must be correct before awarding the mark. 9. In awarding method marks, ensure that candidates do not get full marks for any item that is incorrect at least in part. 10. Be aware of candidates who provide valid alternatives beyond the marking guideline. 11. Codes: f = foreign item; p = placement/presentation. 12. This memorandum is not for public distribution, as certain items might imply incorrect treatment. The adjustments made are due to nuances in certain questions. 18 pages ### Page 2 Downloaded from hlayiso.com 10710 / 16 GAUTENG DEPARTMENT OF EDUCATION PREPARATORY EXAMINATION – 2016 ACCOUNTING MEMORANDUM QUESTION 1: BANK AND CREDITORS’ RECONCILIATION 1.1 BANK RECONCILIATION 1.1.1 Calculate the bank balance as at 31 July 2016. – R13 500 + R123 800 – R90 950– R270 – R2 400 + R6 000 – R1 900+ R1 350 + R2 950 = R25 080 one part correct OR – R13 500 + R123 800 – R90 950 – R270 – R2 400 + R6 000 – R1 900+ (R7 050 – 5 700) + R2 950 = R25 080 BANK BANK 123 800 * 13 500 123 800 * 13 500 6 000 90 950 6 000 90 950 1 350 270 7 050 5 700 2 950 2 400 2 950 270 1 900 2 400 Balance 25 080 1 900 134 100 134 100 Balance 25 080 one part Balance 25 080 139 800 one part 139 800 correct Balance 25 080 correct 11 *-19 650 + 9 500 – 2 950 - 400 1.1.2 Prepare the Bank Reconciliation Statement on 31 July 2016 BANK RECONCILIATION STATEMENT ON 31 JULY 2016 Debit Credit If one column is used Credit balance as per Bank statement one part  17 980 17 980 correct Credit outstanding deposit 12 800 12 800 Debit outstanding cheques No. 687 950 (950) No. 692 4 750 (4 750) Debit balance as per Bank account see 1.1.1 25 080 (25 080) Both totals  30 780 30 780 7 2 ### Page 3 Downloaded from hlayiso.com 10710 / 16 1.1.3 Explain ONE internal control measure that can be used to ensure that this problem does not occur.   Insist that all cash collected is deposited daily.  Division of duties where one person collects cash and another deposits the cash  Check documentation on a daily basis; receipts must equal deposits. 2  Rotation of duties 1.2 CREDITORS’ RECONCILIATION 1.2.1 Explain why the balance of the Creditors’ Control Account and the total of the Creditors’ List should correspond. Possible answers  The Creditors’ Control Account is a summary of all the individual transactions in the personal accounts of creditors in the Creditors’ Ledger  It is prepared from the same documents, therefore the balance on the 2 Creditors’ Control Account must be equal to the total of the Creditors’ List. 3 ### Page 4 Downloaded from hlayiso.com 10710 / 16 1.2.2 Reconcile the Creditors’ Control Account with the Creditors’ List on 31 August 2016. The balance in the Creditors’ Control Account was R108 450 and the total of the Creditors’ List was R104 865. CREDITORS’ CONTROL CREDITORS’ LIST DEBIT CREDIT DEBIT CREDIT 108 450 104 865 A. 1 080 B. (825 + 825)1 650 C. 405 D. (981 – 918) 63 See creditors 63 control E. 810 810 F. 180 180 G. 1 260  BALANCE 105 513 BALANCE 105 513 Both 13 Totals TOTAL MARKS 35 4 ### Page 5 Downloaded from hlayiso.com 10710 / 16 QUESTION 2: MANUFACTURING, CONCEPTS AND NOTES CONCEPTS 2.1 Indicate whether the following statements are TRUE or FALSE. Write only 'true' or 'false' next to the question number (2.1.1–2.1.3) in the ANSWER BOOK 2.1.1 True  2.1.2 False  2.1.3 False  3 2.2 THE CLOTHING FACTORY SHOP 2.2.1 Prepare the Factory Overheads Note to the Production Cost Statement one part correct Indirect materials (9 800 + 39 800 – 7 300) x  28 200 Salary: Foreman 216 000 one part correct Rent expense ( 72 000 57 600 – 1 marks 9 000 – 1 mark one part correct Indirect wages (6 x 50 x 192)  + (3 x 40 x 75)  66 600 Depreciation on factory equipment 56 250 (–1 foreign items max – 2 439 050 14 2.2.2 Calculate on Direct material cost on 29 February 2016. 164 800 + 950 800 + 47 500+ 225 000 – 251 000 = 1 137 100operation one part correct 7 Calculate on Direct labour cost on 29 February 2016. 844 600  + 228 400  + 97 856  =1 170 856 operation one part correct 4 5 ### Page 6 Downloaded from hlayiso.com 10710 / 16 2.3 FAST MOVERS FACTORY SHOP 2.3.1 Calculate the break-even point. = 6 120 units One part correct 4 Patrick is satisfied with the break-even point. Explain. Quote figures.  The BEP dropped from 7 000 units to 6 120   The business is producing 12 000 units, which exceeds the BEP.  This indicates that the business is still making a profit. 4 2.3.2 Identify ONE specific factory cost that has improved. Quote figures. Direct materials costper unit reduced from R95 to R85  Provide ONE possible reason for this. Any one valid reason e.g.   Greater efficiency in using raw materials / less wastage  Better quality of raw materials leading to less wastage  Found a supplier closer to the factory to reduce carriage  Reduction in price / exchange rate (if imported) 4 TOTAL MARKS 40 6 ### Page 7 Downloaded from hlayiso.com 10710 / 16 QUESTION 3 3.1 Match the concepts in Column A with the descriptions in Column B. 3.1.1 C  3.1.2 D  3.1.3 A  3.1.4 B  4 3.2 FOLLOWS ON THE NEXT PAGE 7 ### Page 8 Downloaded from hlayiso.com 10710 / 16 3.2 YEH HAI LIMITED. 3.2.1 YEH HAI LIMITED INCOME STATEMENT FOR THE YEAR ENDED 29 FEBRUARY 2016 Sales 5 970 000 – 70 000 – 15 000 one part correct 5 885 000 Cost of sales 3 200 000 – 10 000  one part correct  (3 190 000) Gross profit operation 7 2 695 000 Other operating income operation 190 039 Bad debts recovered 3 860 Rent income 234 000 – 49 500 one part correct 184 500 Provision for bad debts adjustment 1 679 22 000– 20 321 Gross operating income 7 2 885 039 Operating expenses operation  (2 372 572) Salaries and Employer’s contribution 921 268 Directors’ fees 840 000 Loss on sale of asset 10 000 Audit fees 76 000 + 24 000  100 000 Sundry expenses 292 330 – 10 000 282 330 Bad debts 12 100 + 675 one part correct 12 775 Depreciation see 3.2.2 FA 193 199 Trading stock deficit 13 000 1 534 000 + 10 000 – 1 531 000 one part correct Operating profit (loss) 14 512 467 Interest Income 27 000 Profit (loss) before interest expense operation 539 467 Interest Expense  (75 000) 600 000 + 423 000 – 948 000 Profit (loss) before tax operation 464 467 Income Tax 150 000 + 17 000  (167 000) Net profit (loss) after tax operation 7 297 467 35 8 ### Page 9 Downloaded from hlayiso.com 10710 / 16 3.2.2 Prepare the following notes to the Balance sheet. (Statement of Financial Position) FIXED/TANGIBLE ASSETS Land and Vehicles Equipment Building Carrying value at the beginning of   the year 416 000 110 000 Cost (452 000 + 200 000)  4 789 720 652 000 760 000 Accumulated depreciation (236 000) (650 000) Movement Additions  2 000 000 Disposal at carrying value  13 200 000 – *72 000 any figures (128 000) Depreciation for the year   (83 200) (109 999) Carrying value at the end of the  operation  year 6 789 720 204 800 1 Cost 6 789 720 452 000 760 000 Accumulated depreciation operation  (247 200) (759 999) * (200 000 – 10 000 – 118 000) ORDINARY SHARE CAPITAL AUTHORISED Number of authorised ordinary shares: 3 000 000 shares ISSUED R 2 000 000 Ordinary shares beginning of the year 5 000 000 250 000  Ordinary shares issued during the financial 1 750 000 year at @R7 each operation 10 000 Ordinary shares repurchased at the average  (30 000) share price *R3 any one part correct 2 240 000 Ordinary shares in issue at the end of the year 6 720 000 operation * 5 000 000  1 750 000 2 250 000 9 9 ### Page 10 Downloaded from hlayiso.com 10710 / 16 3.3 AUDIT OF PROTEA LIMITED 3.3.1 The business received a (qualified, unqualified, disclaimer) report. Disclaimer Give a reason for your answer ANY ONE   The external auditors did not express an opinion on the financial statements of Protea Ltd.  Auditors were unable to express an opinion because they were not able to verify a significant part of the company's transaction.  Auditors were unable to express an opinion because there was insufficient evidence. 3 3.3.2 Who is the audit report addressed to? Shareholders Give a reason for your answer. They are the owners of the company and have appointed the auditors. 2 3.3.3 Explain why the Companies Act makes it a requirement for public companies to be audited by an independent auditor. Give ONE reason. Any ONE reason   Unbiased view presented  Separation between management and ownership – interests of 2 shareholders are safeguarded 3.3.4 The auditor’s report refers to the International Financial Reporting Standards (IFRS). Explain why auditors have to take IFRS into account when expressing their opinions? ONE VALID EXPLANATION Requirement by auditing standards as the IFRS sets standards for preparation of financial statements. This enables financial statements of different companies to be compared in South Africa and other countries. 2 TOTAL MARKS 70 10 ### Page 11 Downloaded from hlayiso.com 10710 / 16 QUESTION 4: CASH FLOW STATEMENT AND RATIO ANALYSIS 4.1 Write down only the answer next to the question number (4.1.1 – 4.1.3) in the answer book 4.1.1 Interest expense  4.1.2 outflow  4.1.3 excluded  3 4.2.1 For the purpose of the Cash Flow Statement calculate the income tax paid for the year ended 29 February 2016: SARS INCOME TAX 36 000 + 420 000 + 94 000  550 000 36 000 = 550 000 one part correct 420 000 94 000 550 000 550 000 94 000 5 4.2.2 Prepare the section of the Cash Flow Statement showing the cash effects on financing activities for the year ended 29 February 2016. CASH FLOW FROM FINANCING ACTIVITIES operation (160 000) Proceeds from the issue of shares (20 000 x R10) operation 1 800 000 4 800 000 + 200 000 operation – 3 200 000/ 3 200 000 + – 200 000 = 4 800 000 Buy back of shares 20 000 X R17  (340 000) Repayment of long term loan  (1 620 000) 9 11 ### Page 12 Downloaded from hlayiso.com 10710 / 16 4.2.3 Calculate the following financial indicators for the financial year 29 February 2016. (Round-off your calculations to ONE decimal point or to the nearest cent, where applicable.) Return on average shareholders’ equity for 2016 (ROSHE) = 24,6% one part correct 5 Debt equity ratio for 2016 260 000 : 5 200 000  0,05 : 1  one part correct 3 4.2.4 Comment on the following financial indicators. Note that the intended mark-up is 50% on cost of sales. Comment with figures Reason for improvement or Comment  decline Quote figures   Increased from 39% to 42%. Improvement 42% is less than the mark-up  Advertising used to increase % Gross of 50% sales profit on  Improved marketing strategies cost of sales  lower-priced suppliers, cheaper materials and using labour- saving technology Decreased/improved from Improvement 25% in 2015 to 19% in 2016 Internal control measures to reduce operating expenses  Kept to budget % Operating  Avoided wastage expenses on  Purchased from suppliers: good quality, low price sales  Cut down on employee benefits  Cut down on expenses  Increased sales 8 12 ### Page 13 Downloaded from hlayiso.com 10710 / 16 4.2.5 The directors are of the opinion that the shareholders should be satisfied with the performance of the company. Explain TWO financial indicators or actual ratios/percentages to support their opinion. Name of indicator   Figure and trend  Explanation   Return on shareholders’ earnings improved from 15.5% to 24,6% (see 4.2.3) This is higher than returns on an alternative investment. No financial institution can however offer 24,6% interest on investments.  Earnings per share has improved from 68 cents to 150 cents per share.  Dividends per share paid are 124 cents per share, which is an improvement from 115 cents in 2015. 6 4.2.6 You are a shareholder of Mika Ltd. Calculate the price at which the new shares were offered. See 4.2.2 Comment on the selling price of the new shares issued. Quote TWO relevant financial indicators to support your answer. Comment   Quoting of indicator    R12 is less than the R14,10 the market value on the JSE.  R12 is greater than the NAV of R11,55 The selling price was 45 cents more 7 than the NAV. 4.2.7 One of the directors feels that the loan should be paid-off as soon as possible. Do you agree? Explain quoting TWO financial indicators (with figures) to support your answer. No Financial indicators  Quote figures   The return on total capital employed (ROTCE) for 2016 is 35% which is greater than the interest rate of 10.5%. This indicates positive gearing  The debt equity ratio is low 0,05 : 1 which means that the business is in a position to borrow more money. This indicates low risk. 5 13 ### Page 14 Downloaded from hlayiso.com 10710 / 16 4.2.8 Comment on the liquidity position of the company. Quote THREE relevant financial indicators (actual figures/ratios/percentages) and their trends Any THREE valid financial indicators: Name of financial indicator    Figure and trend    Comment  (One valid point per indicator OR 3 marks for overall comment)  Current ratio has improved from 1,4 : 1 to 1,8 : 1  Acid test ratio: improved from 0,7 : 1 to 0,9 : 1  Rate of stock turnover: improved from 3,5 times p.a. to 4,2 times p.a.  Debtors' collection period: improved from 75 days to 60 days. General comment: For 3 marks (need only mention 3 indicators):  There in a slight improvement in the liquidity position of the company. The business is more efficient in 2016.  The trading stock is now being sold more quickly which will generate greater profit.  The debtors are also paying their debt quicker in 2016 than 2015. This improves the cash flow into the business.  The current ratio has improved because debtors are paying quicker/ trading stock is sold faster.  The acid test ratio has improved as stock is trading / sold faster / less trading stock on hand. 9 TOTAL MARKS 60 14 ### Page 15 Downloaded from hlayiso.com 10710 / 16 QUESTION 5 5.1 VAT CONCEPTS Choose the correct word from those which are given within the bracket 5.1.1 Output VAT  5.1.2 Payable to  5.1.3 Evasion  3 5.2 VAT CALCULATIONS Calculate the amount of VAT payable to OR receivable from SARS on 29 February 2016 5 700-82 404 + 68 320  - 12 880  + 700  + 2 380 - 2 336  = R20 520  operation receivable from SARS  OR ( ) VAT Input: 82 404 + 12 880 + 2 336 = R97 620 (Dr) VAT Output: 68 320 + 700 + 2 380 = R71 400 (Cr) ( ) (19 380 – 17 000) OR (17 000 x 14%) VAT amount: 5 700+ 71 400 - 97 620 (see calculations above) = R20 520 receivable from SARS check operation + comment OR VAT CONTROL 82 404 Balance 5 700 12 880 68 320 2 336 700 2 380 (Total input) 97 620 (Total output) 77 100 RECEIVALBLE from SARS 20 520 (dr - cr) + "comment" 12 5.3 INVENTORY CALCULATIONS 5.3.1 What does FIFO stand for? First-in-First-out  1 15 ### Page 16 Downloaded from hlayiso.com 10710 / 16 5.3.2 Calculate the closing stock of shoes according to the weighted average method on 30 June 2016. = 745 x 400 10 = R298 000 Operation one part correct 5.3.3 Calculate the number of stolen items of footwear accessories. 3 200 – 1 700 – 1 020 480 items were stolen  one part correct 4 Average stock holding period in days. 37 900 ) calculation 8 = 203.4 days one part correct Should Mani Traders continue buying and selling accessories? TWO points of advice. Quote figures to support your answer Yes /NO  Advice   Quote figures    480 items stolen – should adopt a better internal control (division of duties, proper authorisation, safekeeping of asset)  Average stock holding 203,4 days which means that it is taking too long to sell the stock.  Do not buy and sell footwear accessories – stolen stock (480 items) or too 7 long stock on hand (203,4 days) TOTAL MARKS 45 16 ### Page 17 Downloaded from hlayiso.com 10710 / 16 QUESTION 6 6.1 Indicate whether each of the following statement is TRUE or FALSE 6.1.1 False  6.1.2 True  6.1.3 False  6.1.4 False  4 6.2 Identify an incorrect entry in the cash budget and explain why this is incorrect. Depreciation  It is a non-cash item. 2 6.3 State THREE ways the purchasing of Land and Building was funded. Additional loan – R400 000  Fixed deposit matured – R250 000 August closing bank balance – R550 000 3 6.4 Complete the Debtors’ Collection schedule for the budgeted period. MONTH CREDIT SALES OCTOBER NOVEMBER August 2016 135 000 64 800 September 2016 150 000 45 000 72 000 October 2016 165 000  31 350 49 500 November 2016 180 000  34 200 Both totals  141 150 155 400 467 9 100 6.5 Calculate the missing figures denoted by A – E on the cash budget.  550 000 A B – 35 703 – 550 000 must be in brackets (585 703) C 55 000 + 10 090 65 090 D  one part correct 35 000  E 60 000 see 6.4 one part correct 12 17 ### Page 18 Downloaded from hlayiso.com 10710 / 16 6.6 Comment on the cash and credit sales. Quote figures. Comment   Quote figures    Cash sales had a negative variance of R13 000. The actual amount of R42 000 is less than the budgeted amount of R55 000.  The credit sales had a positive variance of R45 000. The actual amount of R180 000 was more than the budgeted amount of R135 000.  There were more customers buying on credit (R180 000) as compared to cash sales of R42 000. Explain how these amounts affect the cash flow of the business. Explanation  This will have resulted in a deficit of cash for August. This means that the closing balance of July covered the expenses for August. 6 Has the advertising campaign been beneficial to the business? No  Explain. Quote figures. Explanation   Quote figures   The actual advertising amount of R22 000 doubled from 5% to 10% on sales.  The sales increased by a small amount of R2 000 (R222 000 – R220 000) only.  Therefore, the increased advertising did not increase sales. 5 Do you think the collection from debtors is well controlled? No  Explain  Quote figures.   Collections of R86 500 are much lower than expected, R165 000.  This will cause a cash flow problem as the variance is R54 650. Give TWO points of advice   Ensure debtors adhere to policy by notifying them of outstanding balances / SMS.  Charged interest on overdue amounts  Do not allow further credit to debtors who do not adhere to the required credit policy. 9 TOTAL MARKS 50 TOTAL: 300 18 ### Page 19 10710 / 16 6.6 Lewer kommentaar oor die kontant en kredietverkope. Haal syfers aan. Kommentaar   Haal syfers aan   Kontantverkope het ʼn negatiewe verskil van R13 000. Die werklike bedrag van R42 000 is minder as die begrote bedrag van R55 000.  Die Kredietverkope het ʼn positiewe verskil van R45 000. Die werklike bedrag van R180 000 is meer as die begrote bedrag van R135 000.  Daar was meer kredietverkope (R180 000) in vergelyking met kontantverkope van R42 000. Verduidelik hoe hierdie bedrae die kontantvloei van die besigheid beïnvloed? Verduideliking  Dit het gelei tot ʼn tekort in kontant gedurende Augustus. Dit beteken dat die eindsaldo van Julie die uitgawes van Augustus kon dek. 6 Was die advertensieveldtog tot voordeel vir die besigheid? Nee Verduidelik. Haal syfers aan. Verduideliking   Haal syfers aan   Die werklike advertensies van R22 000 het verdubbel van 5% tot 10% op verkope.  Die verkope het met ʼn klein bedrag van R2 000 (R222 000 – R220 000) vermeerder.  Daarom het die verhoogde advertensies nie die verkope verhoog nie. 5 Dink jy die invorderings vanaf debiteure word goed beheer? Nee  Verduideliking  Haal syfers aan    Invorderings van R86 500 is baie laer as die verwagte R165 000.  Dit sal ʼn kontantvloeiprobleem veroorsaak as die verskil R54 650 is. Gee TWEE punte van advies.   Verseker dat debiteure die beleid nakom en stel hulle in kennis van uitstaande saldo’s / SMS.  Hef rente op agterstallige rekeninge  Moenie verdere krediet toestaan as die debiteure nie die kredietbeleid nakom nie. 9 TOTALE PUNTE 50 TOTAAL: 300 18 Downloaded from hlayiso.com ### Page 20 10710 / 16 VRAAG 6 KONTANTBEGROTING EN KONSEPTE 6.1 Dui aan of die volgende bewerings WAAR of ONWAAR is. 6.1.1 Onwaar  6.1.2 Waar  6.1.3 Onwaar  6.1.4 Onwaar  4 6.2 Identifiseer ʼn verkeerde inskrywing in die kontantbegroting en verduidelik waarom hierdie inskrywing verkeerd is. Waardevermindering  Dit is nie ʼn kontant item nie 2 6.3 Op watter DRIE maniere kon die aankoop van Grond en Geboue gefinansier word? Addisionele Lening – R400 000  Vaste Deposito verval – R250 000 Augustus sluitingsaldo – R550 000 3 6.4 Voltooi die Debiteure Invorderingskedule vir die begrote periode. MAAND KREDIETVERKOPE OKTOBER NOVEMBER Augustus 2016 135 000 64 800 September 2016 150 000 45 000 72 000 Oktober 2016 165 000  31 350 49 500 November 2016 180 000  34 200  Vir albei totale 141 150 155 400 467 9 100 6.5 Bereken die ontbrekende getalle by A – E in die kontantbegroting.  550 000 A B - 35 703 – 550 000 moet in hakies wees (585 703) C 55 000 + 10 090 65 090 D  een deel korrek 35 000  E 60 000 sien 6.3 een deel korrek 12 17 Downloaded from hlayiso.com ### Page 21 10710 / 16 5.3.2 Bereken die eindvoorraad van die skoene volgens die geweegde gemiddelde metode op 30 Junie 2016. = 745 x 400 = R298 000 10 Bewerking een deel korrek 5.3.3 Bereken die aantal gesteelde items van skoenbykomstighede. 3 200 – 1 700 – 1 020 480 items is gesteel  een deel korrek 4 Bereken die gemiddelde voorraadomsetsnelheid in dae . 37 900 ) bewerkstellig = 203.4 dae een deel korrek 8 Dink jy Manie Handelaars moet voortgaan met die koop en verkoop van skoenbykomstighede voorraad ? Verskaf TWEE punte van advies. Haal syfers aan om jou antwoord te staaf. Ja /NEE  Advies  Haal syfers aan    480 items is gesteel – moet interne kontrole verbeter ( skeiding van pligte, behoorlike magtiging, beveiliging van bates)  Gemiddelde voorraadhouding is 203,4 dae wat beteken dat dit te lank neem om voorraad te verkoop  Moenie skoen benodigdhede aankoop of verkoop nie – gesteelde voorraad (480 items) of te lang voorraadhouding (203,4 dae) 7 TOTALE PUNTE 45 16 Downloaded from hlayiso.com ### Page 22 10710 / 16 VRAAG 5 BTW EN VOORRAADWAARDASIE 5.1 BTW KONSEPSIE Kies die korrekte woord uit die gegewe woorde in hakies 5.1.1 Uitset BTW  5.1.2 Betaalbaar aan  5.1.3 Ontduiking  3 5.2 BTW BEREKENINGE Bereken die bedrag BTW betaalbaar aan OF ontvangbaar van SAID op 29 Februarie 2016. 5 700-82 404 + 68 320  - 12 880  + 700  + 2 380 - 2 336  = R20 520  bewerking ontvangbaar van SAID OF ( ) Inset BTW: 82 404 + 12 880 + 2 336 = R97 620 (Dr) Uitset BTW: 68 320 + 700 + 2 380 = R71 400 (Cr) ( ) (19 380 – 17 000) OR (17 000 x 14%) BTW bedrag: 5 700 + 71 400 - 97 620 (kyk bewerking bo) = R20 520 ontvangbaar van SAID kontroleer bewerking+ kommentaar OF BTW KONTROLE 82 404 Saldo 5 700 12 880 68 320 2 336 700 2 380 (Totale inset) 97 620 (Totale uitset) 77 100 ONTVANGBAAR van SAID 20 520 (dt - kt) + "kommentaar" 12 5.3 VOORRAADWAARDASIE 5.3.1 Waarvoor staan die afkorting EIEU? Eerste-In-Eerste-Uit  1 15 Downloaded from hlayiso.com ### Page 23 10710 / 16 4.2.8 Lewer kommentaar oor die likiditeitsposisie van die maatskappy. Haal DRIE relevante finansiële aanwysers aan (bedrae / verhouding / persentasies) en toon ook die neiging. Enige DRIE geldige finansiële aanwysers: Naam van finansiële aanwyser    Syfer en neiging    Kommentaar  (Enige geldige punt per aanwyser OF 3 punte vir algehele kommentaar)  Bedryfsverhouding het verbeter van 1,4 : 1 na 1,8 : 1  Vuurproefverhouding: verbeter van 0,7 : 1 na 0,9 : 1  Voorraad voorhande: verbeter van 3,5 keer per jaar na 4,2 keer per jaar  Debiteure-invorderingstermyn: verbeter van 75 dae na 60 dae. Algemene kommentaar: Vir 3 punte (slegs nodig om 3 aanwysers te noem):  Daar is ʼn klein verbetering in die likwiditeit van die maatskappy. Die besigheid is meer doeltreffend in 2016.  Die handelsvoorraad word nou vinniger verkoop wat beteken dat hul meer wins sal genereer.  Die debiteure betaal hul skuld baie vinniger in 2016 as in 2015. Dit verbeter die kontantvloei van die besigheid.  Die vuurproefverhouding het verbeter omdat die voorraad vinniger verkoop word / 9 minder voorraad is voorhande. TOTALE PUNTE 60 14 Downloaded from hlayiso.com ### Page 24 10710 / 16 4.2.5 Die direkteure is van mening dat die aandeelhouers gelukkig behoort te wees met die prestasie van die maatskappy. Verduidelik en haal TWEE finansiële aanwysers aan of werklike verhoudings / persentasies om hul opinie te staaf. Naam van aanwyser  Syfer en neiging  Verduideliking   Die opbrengs op gemiddelde aandeelhouersbelang het verbeter van 15,5% tot 24,6% (sien 4.2.3). Dit is hoër opbrengs as ʼn alternatiewe belegging. Geen finansiële instelling kan 24,6% rente op beleggings bied nie.  Verdienste per aandeel het verbeter van 68 sent tot 150 sent per aandeel  Dividende per aandeel betaal is 124 sent per aandeel wat ʼn verbetering is van 115 sent in 2015. 6 4.2.6 Jy is ʼn aandeelhouer van Mika Beperk. Bereken die prys waarteen die nuwe aandele aangebied word. Lewer kommentaar oor die verkoopsprys van die nuwe aandele. Haal TWEE relevante finansiële aanwysers aan om jou antwoord te staaf. Kommentaar   Aanhaal van finansiële aanwyser    R12 is minder as die R14,10 markprys op die JEB  R12 is groter as die NBW van R11,55. Die verkoopprys was 45 sent meer as die NBW. 7 4.2.7 Een van die direkteure voel dat die lening so as gou moontlik terugbetaal moet word. Stem jy saam? Verduidelik deur TWEE finansiële aanwysers (met bedrae) aan te haal om jou antwoord te staaf. Nee Finansiële aanwyser  Aanhaal van syfers   Die opbrengs op totale kapitaal aangewend vir 2016 is 35% wat meer is as die rentekoers van 10,5%. Dit dui op positiewe neiging.  Die skuld/ekwiteits verhouding is lag 0,05:1 wat beteken dat die besigheid 5 in ʼn posisie is om meer geld te leen. Dit dui op lae risiko. 13 Downloaded from hlayiso.com ### Page 25 10710 / 16 4.2.3 Bereken die volgende finansiële aanwysers op 29 Februarie 2016: (Rond alle berekeninge af tot EEN desimale plek of tot die naaste sent, waar van toepassing). Opbrengs op gemiddelde aandeelhouersbelang vir 2016 (OOAHB) = 24,6% een deel korrek 5 Skuld/Ekwiteit verhouding vir 2016 260 000 : 5 200 000  0,05 : 1  een deel korrek 3 4.2.4 Lewer kommentaar oor die volgende finansiële aanwysers. Neem kennis dat die beoogde winsopslag 50% op koste van verkope is. Kommentaar met syfers Rede vir Verbetering of Kommentaar  afname Haal syfers aan   Toename van 39% na 42%. Verbetering 42% is minder as die  Reklame verhoog gewoonlik % bruto verkope winsopslag van 50%. wins op  Verbeter bemarkingstrategieë koste van  Gebruik goedkoper verskaffers, verkope goedkoper materiaal en maak van arbeid-besparings tegnologie gebruik Afname/verbetering van 25% Verbetering in 2015 na 19% in 2016. Interne kontrolemaatreëls om bedryfsuitgawes te verminder %  Hou by die begroting bedryfsuitg  Verhoed vermorsing awes op  Aankope van verskaffers: verkope goeie kwaliteit, lae produkte  Sny op werknemervoordele  Sny op uitgawes 8  Verhoog verkope 12 Downloaded from hlayiso.com ### Page 26 10710 / 16 VRAAG 4: KONTANTVLOEISTAAT EN VERHOUDINGSANALISE 4.1 Skryf slegs die antwoord langs die vraagnommer (4.1.1 – 4.1.3) in die antwoordboek. 4.1.1 Rente uitgawe  4.1.2 uitvloei  4.1.3 uitgesluit  3 4.2.1 Vir die doel van die kontantvloeistaat, bereken die inkomstebelasting betaalbaar vir die jaar geëindig 29 Februarie 2016. SAID INKOMSTEBELASTING 36 000 + 420 000 + 94 000  550 000 36 000 = 550 000 een deel korrek 420 000 94 000 550 000 550 000 94 000 5 4.2.2 Berei die afdeling vir die kontantgevolge van finansieringsaktiwiteite in die Kontantvloeistaat voor, vir die jaar geëindig op 29 Februarie 2016. KONTANTGEVOLGE VAN FINANSIERINGS- (160 000) AKTIWITEITE bewerking Opbrengs uit die uitreik van aandele (20 000 x R10) 1 800 000 4 800 000 + 200 000 bewerking – 3 200 000/ 3 200 000 + – 200 000 = 4 800 000 bewerking Terugkoop van aandele: 20 000 X R17  (340 000) Terugbetaling van langtermynlening  (1 620 000) 9 11 Downloaded from hlayiso.com ### Page 27 10710 / 16 3.3 OUDIT VAN PROTEA BEPERK 3.3.1 Die besigheid het ʼn (gekwalifiseerde, ongekwalifiseerde, weerhoudende) verslag ontvang. Weerhouding (disclaimer) Gee ʼn rede vir jou antwoord.  Die eksterne ouditeure 'het nie 'n mening' uitgespreek oor die finansiële state van Protea Bpk.  Ouditeure was nie in staat om 'n mening uit te spreek nie, omdat hulle nie 'n groot gedeelte van die maatskappy se transaksie kon verifieer nie.  Ouditeure was nie in staat om ʼn mening uit te spreek nie, omdat hulle nie 3 voldoende ouditbewys kon vind nie. 3.3.2 Aan wie is die ouditverslag gerig? Aandeelhouers Gee ʼn rede vir jou antwoord. Hulle is die eienaars van die maatskappy en het die ouditeure aangestel. 2 3.3.3 Verduidelik waarom dit ʼn vereiste van die Maatskappywet is, dat publieke maatskappye deur ʼn onafhanklike ouditeur geoudit moet word. Gee EEN rede. Enige EEN rede   Onpartydige opinie gelewer  Skeiding tussen die bestuur en eienaarskap –belange van die aandeelhouers word beskerm 2 3.3.4 Die ouditeursverslag verwys na die Internasionale Finansiële Verslagdoeningstandaard (IFRS). Verduidelik waarom die ouditeure IFRS in berekening moet bring wanneer hulle hul opinies lig. EEN GELDIGE VERDUIDELIKING Vereiste van ouditeuring aangesien die IFRS die standaarde van voorbereiding van finansiële state stel. Dit maak dit moontlik dat finansiële state van verskillende maatskappye in Suid-Afrika en ander lande met mekaar vergelyk kan word 2 TOTALE PUNTE 70 10 Downloaded from hlayiso.com ### Page 28 10710 / 16 3.2.2 Berei die volgende notas tot die Balansstaat (Staat van Finansiële Posisie) voor: VASTE / TASBARE BATES Grond en Voertuie Toerusting Geboue Drawaarde aan die begin van die   jaar 416 000 110 000 Kosprys (452 000 + 200 000)  4 789 720 652 000 760 000 Opgehoopte waardevermindering (236 000) (650 000) Bewegings: Toevoegings  2 000 000 Verkope teen drawaarde  enige 200 000 – *72 000 berag (128 000) Waardevermindering vir die jaar   (83 200) (109 999) Drawaarde aan die einde van die  bewerking  jaar 6 789 720 204 800 1 Kosprys 6 789 720 452 000 760 000 Opgehoopte waardevermindering bewerking  (247 200) (759 999) 13 * (200 000 – 10 000 – 118 000) GEWONE AANDELEKAPITAAL GEMAGTIG Aantal gemagtigde gewone aandele: 3 000 000 aandele UITGEREIK R 2 000 000 Gewone aandele aan die begin van die jaar 5 000 000 250 000  Gewone aandele uitgereik gedurende die 1 750 000 finansiële jaar @R7 elk bewerking 10 000 Gewone aandele teruggekoop teen gemiddelde  (30 000) prys *R3 enige een deel korrek 2 240 000 Gewone aandele aan die einde van die jaar 6 720 000 bewerking * 5 000 000  1 750 000 2 250 000 9 9 Downloaded from hlayiso.com Text truncated here. 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