QUESTION 2 (16 marks, 19 minutes) Monate Foods (Pty) Ltd is a company operating as a food truck restaurant permanently located outside a soccer stadium in Johannesburg. The company was started by two brothers. The company was incorporated on 1 April 2021 with the two brothers as the only shareholders. They dont hold other investments or shareholdings. The first year of assessment ends on 28 February 2022. The brothers asked you for assistance regarding some tax matters relating to their company as they know you are studying TAX2601 at Unisa. You are provided with the following information: Income and expenses for the period 1 April 2021 to 28 February 2022: Item Amount Notes Receipts - Cash sales R765 000 Sales to daily customers in the area - Sales on credit R27 400 Sales to a company in the area that made use of the food truck service on 15 February 2022 for a corporate event. They have not yet paid the invoice at year-end. - Sale of a capital asset R24 000 The amount was received when a mini freezer asset was sold on 4 No

QUESTION3 (13 marks, 16 minutes) Le Coco (Pty) Ltd is not a small business corporation as defined. Its year of assessment ends on 31 January 2022 and its records show the following: QUESTION3 (13 marks, 16 minutes) Le Coco (Pty) Ltd is not a small business corporation as defined. Its year of assessment ends on 31 January 2022 and its records show the following