Financial Accounting – Accounting And Financial Management Assignment Help

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Internal Code: 3AJDI
Financial Accounting – Accounting And Financial Management Assignment 
Task:
QUESTION 1
1.1 The cash flow statement for Bevlet Ltd is provided below:

Required: Study the cash flow statement and answer the questions that follow:
1
.
1
.
1
Calculate
the cash
balance
as
at
31
December
2016
if
there
was
a
bank
overdraft
of
R10
000
on
31
December
2017
.
 
1
.
1
.
2
Explain
why
depreciation
was
included
in
computing
the
cash
flow
from
operating
activities
.
1
.
1
.
3
The
long
term
loan
was
increased
on
01
July
2017
.
Explain
whether
it
was
prudent
for
the
company
to
have
taken
the
loan
.
1
.
1
.
4
Suggest
FOUR
(
4
)
ways
in
which
the
company
can
improve
its
liquidity
.

1.2 Study the extracts of the cash flow statement of Lucky Limited for the year ended 30 June 2017 and answer

the questions that follow:

Extracts of Cash Flow Statement for the year ended 30 June 2017

ACCOUNTING AND FINANCIAL MANAGEMENT

QUESTION
2

INFORMATION

Excerpts of financial statements of Davidson Limited for 2017 are as follows:

ACCOUNTING AND FINANCIAL MANAGEMENT

ACCOUNTING AND FINANCIAL MANAGEMENT

Required: 2.1 Use the information provided to calculate the following ratios for 2017. Where applicable, round off

answers to two decimal places.

2
.
1
.
1
Operating
margin
2
.
1
.
2
Debtor
collection
period
2
.
1
.
3
Return
on
assets
2
.
1
.
4
Return
on
equity
2
.
1
.
5
Earnings
retention
ratio
2.1.6 Acid test ratio 

QUESTION 3 Vampire Ltd plans to manufacture a new wheel spanner and the following information is applicable

financial and accounting management

Required: Answer the following questions independently.
3
.
1
Calculate
the
break
–
even
quantity
.
3
.
2
Calculate
the
break
–
even
value
.
3
.
3
Calculate
the
total
contribution
margin
and
operating
profit
/
loss
.
3
.
4
Calculate
the
selling
price
per
unit
if
the
profit
per
unit
is
R3
.
3
.
5
Calculate
the new
break
–
even
quantity
and
value
if
the
selling
price
is
decreased
by
20
%
,

QUESTION 4

 
4
.
1
Lumin
Fashioners
is
considering
extending
credit
to
some
customers
who
may
be
at
risk
(
defaulting
in
payment
)
.
Sales
will
increase
by
R650
000
if
credit
is
granted
to
these
customers
.
From
the
new
accounts
receivable
generated
,
12
%
is
expected
to
be
uncollectible
.
Additional
collection
costs
will
be
4
%
of
sales
,
and
the
production
and
selling
costs
will
be
70
%
of
sales
.
The
firm
is
in
the
30%
tax
bracket
.

Required:

4
.
1
.
1
Calculate
the
incremental
profit
/
loss
after
tax
.
4
.
1
.
2
Determine
the
incremental
return
on
sales
if
these
new
credit
customers
are
accepted
.
4
.
1
.
3
Briefly
explain
any
3
methods
used
to
collect
overdue
accounts
.
4
.
2
Webster
Ltd
,
a
supplier
of
children
‘
s
toy
cars
,
inventory
records
are
presented
in
the
table
below
:

financial and accounting management

 

Required:
Calculate
the
value
of
closing
inventory
as
at
31
December
2017
and
gross
profit
for
the
year
ended
31
December
2017
using
the
weighted
average
cost
method
.

NB
.
Use
the
format
of
the
Statement
of
Comprehensive
Income
to
present
your
answer
.

(
20
)

QUESTION 5
Dunedin
(
Pty
)
Ltd
supplies
cellular
and
smartphone
accessories

Information
1
.
The
following
figures
are
available
:

2
.
Cash
transactions
:
–
40
%
of
all
sales
are
for
cash
.
–
35
%
of
all
purchases
are
for
cash
.
3
.
Collections
for
credit
sales
are
as
follows
:
–
20
%
is
collected
in
the
month
of
the
sale
and
a
2
%
discount
is
granted
on
these
collections
.
–
60
%
is
collected
in
the
month
following
the
month
of
sale
.
–
15
%
is
collected
in
the
second
month
following
the
month
of
sale
.
4
.
Dunedin
(
Pty
)
Ltd
will
make
an
investment
of
R90
000
in
fixed
deposit
on
01
April
2018
.
Interest
of
R1
500
per
month
is
expected
to
be
received
from
30
April
2018
.
5
.
Creditors
are
paid
2
months
after
the
date
of
invoice
.
6
.
Rent
expense
amounts
to
R18
000
per
month
and
is
payable
on
the
first
day
of
each
month
.
7
.
W
a
ges
will
be
increased
by
10
%
in
April
2018
and
will
increase
by
a
further
5
% in
May
2018
,
8
.
A
new
machine
is
expected
to
be
purchased
for
R36
000
cash
in
May
2018
,
9
.
Commission
is
paid
to
sales
personnel
in
the
month
following
the
month
in
which it
was
earned
.
10
.
On
31
March
2018
,
Dunedin
(
Pty
)
Ltd
had
a
bank
overdraft
of
R5
000
.

Required:
Use
the
information
provided
to
:
5
.
1
Prepare
a
debtors
collection
schedule
for
April
and
May
2018
.
5
.
2
Prepare
the
Cash
budget
for
April
and
May
2018

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