Question 1 The following extracts were made from the books and records of Sandy Dandy for the year ended 31 December 2022: Cash book summary 1. 2. 3. Opening balance Cash sales Interest Additional capital introduced Rental of premises E Trade creditors (all for purchases) Telephone and postage E Trade debtors (all in respect of sales) Office furniture (purchased 1 July 2005) Carriage inwards Drawings E Printing and stationery Salaries (Office) Insurance E Closing balances Extracts from ledger balances Trade debtors Trade creditors Capital account - Sandy Dandy Stock Accruals Telephone Rent Carriage inwards Prepayment Rent Insurance Office furniture and equipment Office furniture and equipment Accumulated depreciation Receipts R Additional information 36 280 890 25 000 77 470 139 640 Opening balances (01/01/2022) R 9 680 8 190 1 800 9 800 110 490 180 1 730 6 230 3 430 Payments R 13 600 470 Additions during the year are depreciated at half the annual rate. Debts totalling R1 725 are considered to be bad and are to be written off. Sandy agreed to provide a bonus of R770 for the bookkeeper. 2 220 48 875 2 160 2 900 4 980 16 675 450 14 800 3 840 28 670 139 640 Closing balances (31/12/2022) R 10 930 9 770 7 245 220 190 6230-3430 = Office furniture and equipment is to be depreciated at 10% p.a. (reducing balance method). 2 220

Required (a) Income statement for the year ended 31 December 2022. (b) Balance sheet at 31 Decomber 2022. Comparative figures are NOT requirod. (20) Question 2 The following analysis of the casih transactions for the year was gathered from the incomplete records of N. Carroll, a merchiant: The following extracts were made from the books and reconds of Sandy Dandy for the year ended 31 December 2022: 1. Cash book summary 2. Extracts from ledger balances 3. Additional information \\( 6230-3430= \\) Office furniture and equipment is to be depreciated at \10 p.a. (reducing balance method). Additions during the year are depreciated at half the annual rate. Debts totalling R1 725 are considered to be bad and are to be written off. Sandy agreed to provide a bonus of R770 for the bookkeeper. Question 5 The Swift Company has just completed its operations for Septomber 2022. The company's accountant resigned two weeks ago, subsequently a very inexperienced clerk has prepared the following income staternent of the month's activities: INCOME STATEMENT FOR THE MONTH ENDED 30 SEPTEMBER 2022 You have been asked to check the statement and make corrections as needed. You have discovered the following additional information, 1. The Swift Company is a manufacturing firm. ii. Some \60 of the electricity and water and \75 of the insurance apply to factory operations, the remaining amounts apply to selling and administrative activities. iii. Balances in the stock accounts at the beginning and end of the month were: iv. Only \80 of the rent applies to factory operations. Required (a) Prepare a schedule for cost of goods manufactured, in good form, for September 2022. (b) Prepare a corrected income statement for the month. [20] - Additional fumiture costing R5 000 was purchased 1 April 2021. - The motor vehicles were purchased on 1 April 2021. The loan of R 100000 which bears interest at the rate of \5 p.a. payable in arrear was obtained on 1 April 2021. Ms Sade is a trader operating under the name of 'SA Traders'. She informs you that she consistently adds \33frac13 to the cost of all goods which she sells in order to arrive at selling prices. She presents you with the following financial statements for the years ended 31 March BALANCE SHEET AT 31 MARCH Question 4 Joytoys Manufacturers had a policy of transferring factory proctuction to the salon dopartment at a profit of \10 on total cost of production of finished goode. The following onerteal dopartment at a Further intormauon R 1. Balances 31 December: Raw materials Work in process Electricity due Direct wages due Finished goods 30000 24000 600 960 ? Stock of finished goods had not been taken at 31 December 2022, but the business works on a gross profit mark-up percentage of \50 on turnover. This calculation is based on the price at which manufactured goods are delivered to the sales department by the factory