Letaba Technical and Vocational Education Training College GIYANI CAMPUS CENTRAL OFFICE 1 Claude Wheatley Street Private Bag X4017 TZANEEN OSO Tel: (015) 307 5440 3955 Foc (015, 3072204 E-mail: centraloffice@leol.co.za Tarn 4429430 Private Bag X9570 GIYAN 0826 Tel (015 612 3221/0354 Fax (015 812 1270 E-mail: olyanicampus leo.co.za MAAKE CAMPUS TZANEEN CAMPUS Private Bag X4035 PO Box 192 0850 TZANEEN C850 Tel:(015) Tel: (015307 4438 Fax: 055) 3554188 FK (016) 3074439 E-mail Email E-mail makeanpun@lacocoa arrarouselcal.ca zatrodajdicampusaloto co MODJADJI GAMPUS Private Bag X4017 TZANEEN 0850 Tel:(015) 307 SWS Fac (616)372204 QUESTION 1: THE FARMING INCOME STATEMENT Assume the following information regarding the production and financial records of the Broiler and Cabbage Farm is made available: DESCRIPTION Live broilers sold for cash Broilers sold on credit Broilers donated to nearby old-age home Slaughtered broilers sold, payment made by cheque Broiler and chicken insides given to labourers Cabbages sold to local supermarket for cash Cabbages sold on credit Cabbages given to labourers Broilers taken by farm owner for his household Income received from hiring out labourers Cabbages taken by farm owner for household M Broilers at the beginning of the year Broilers at the end of the year Day-old chicks purchased Cabbages in the field at the beginning of the year Cabbages in stock at the end of the year Cabbage seedlings purchased Pesticides used for cabbages Employee wages and salaries Interest paid for short-term loan from FNB Bank Repair and maintenance costs for the farm Feed and vaccines for broilers Diesel and lubricants at the beginning of the year Diesel and lubricants purchased Diesel and lubricants at the end of the year Rental paid for land used for cabbages Depreciation of delivery truck Other farming expenses VALUE (R) 100 000 26 000 12 000 50 000 26 000 60 000 15 000 10 000 6 000 25 000 2 000 18 000 25 000 61 000 20 000 35 000 55 000 5 000 8 000 26 000 7 000 22 000 30 000 7 000 21 000 9 000 12 000 6 000 10 000 Letaba Technical and Vocational Education Training College higher education & training Lac REPUBLIC OF oroup AFRICA CENTRAL OFFICE 1 Claude Wheatley Street Private Bag X4017 TZANEEN 0850 Tel: (015) 307 5440/3955 Fac (015)3072204 E-mail: centraloffice@leol.co.za GIYANI CAMPUS MAAKE CAMPUS Private Bag X6570 Pohvale Bag X4035 GIYANI 0826 Tzaneen 0850 Tel:(015) 812 32210354 Tel:(015) 355 3429,30 Fax (015) 812 1270 Fax (015) 356 4138 E-mail E-mail bryanicamput@nicoloza mankecamus cool 0.za TZANEEN CAMPUS MODJADJI CAMPUS PO Box 192 Private Bag X4017 TZANEEN 6850 TZANEEN OSLO Tel:(015) 307 4438 Tol 2015) 307 5440/3965 Fax (015) 3074439 For (015)3070204 E.mai E-mail trascencampuscletco.co za medjudicampus@tool.co.za Complete the income statement on the attached ADDENDUM provided NOTE: Candidates may add any information that they deem necessary to the open spaces provided on the ADDENUM. [50] Farming financial management Ass question paper 30 Aug 10 Sep 2021 Page 3 of 6 Letaba Technical and Vocational Education Training College GIYANI CAMPUS CENTRAL OFFICE 1 Claude Wheatley Street Private Bag X4017 TZANEEN OSO Tel: (015) 307 5440 3955 Foc (015, 3072204 E-mail: centraloffice@leol.co.za Tarn 4429430 Private Bag X9570 GIYAN 0826 Tel (015 612 3221/0354 Fax (015 812 1270 E-mail: olyanicampus leo.co.za MAAKE CAMPUS TZANEEN CAMPUS Private Bag X4035 PO Box 192 0850 TZANEEN C850 Tel:(015) Tel: (015307 4438 Fax: 055) 3554188 FK (016) 3074439 E-mail Email E-mail makeanpun@lacocoa arrarouselcal.ca zatrodajdicampusaloto co MODJADJI GAMPUS Private Bag X4017 TZANEEN 0850 Tel:(015) 307 SWS Fac (616)372204 QUESTION 1: THE FARMING INCOME STATEMENT Assume the following information regarding the production and financial records of the Broiler and Cabbage Farm is made available: DESCRIPTION Live broilers sold for cash Broilers sold on credit Broilers donated to nearby old-age home Slaughtered broilers sold, payment made by cheque Broiler and chicken insides given to labourers Cabbages sold to local supermarket for cash Cabbages sold on credit Cabbages given to labourers Broilers taken by farm owner for his household Income received from hiring out labourers Cabbages taken by farm owner for household M Broilers at the beginning of the year Broilers at the end of the year Day-old chicks purchased Cabbages in the field at the beginning of the year Cabbages in stock at the end of the year Cabbage seedlings purchased Pesticides used for cabbages Employee wages and salaries Interest paid for short-term loan from FNB Bank Repair and maintenance costs for the farm Feed and vaccines for broilers Diesel and lubricants at the beginning of the year Diesel and lubricants purchased Diesel and lubricants at the end of the year Rental paid for land used for cabbages Depreciation of delivery truck Other farming expenses VALUE (R) 100 000 26 000 12 000 50 000 26 000 60 000 15 000 10 000 6 000 25 000 2 000 18 000 25 000 61 000 20 000 35 000 55 000 5 000 8 000 26 000 7 000 22 000 30 000 7 000 21 000 9 000 12 000 6 000 10 000 Letaba Technical and Vocational Education Training College higher education & training Lac REPUBLIC OF oroup AFRICA CENTRAL OFFICE 1 Claude Wheatley Street Private Bag X4017 TZANEEN 0850 Tel: (015) 307 5440/3955 Fac (015)3072204 E-mail: centraloffice@leol.co.za GIYANI CAMPUS MAAKE CAMPUS Private Bag X6570 Pohvale Bag X4035 GIYANI 0826 Tzaneen 0850 Tel:(015) 812 32210354 Tel:(015) 355 3429,30 Fax (015) 812 1270 Fax (015) 356 4138 E-mail E-mail bryanicamput@nicoloza mankecamus cool 0.za TZANEEN CAMPUS MODJADJI CAMPUS PO Box 192 Private Bag X4017 TZANEEN 6850 TZANEEN OSLO Tel:(015) 307 4438 Tol 2015) 307 5440/3965 Fax (015) 3074439 For (015)3070204 E.mai E-mail trascencampuscletco.co za medjudicampus@tool.co.za Complete the income statement on the attached ADDENDUM provided NOTE: Candidates may add any information that they deem necessary to the open spaces provided on the ADDENUM. [50] Farming financial management Ass question paper 30 Aug 10 Sep 2021 Page 3 of 6
