The accountant of Bles Group Limited presented you with the following statement of profit or loss...

 

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The accountant of Bles Group Limited presented you with the following statement of profit or loss of the company on 30 September 2014. BLES GROUP LIMITED Statement of profit or loss for the reporting period ended 30 September 2014 Add Info Sales Sales returns Rentals: Dividends: Commission income Interest income Profit on sale of equipment Salaries and wages Directors' remuneration: Computers Buildings Manufacturing Limited Selling (Pty) Ltd Income tax expense Auditors remuneration Interest on loan Managing director (Mr Board) Chairman of the board (Ms Nel) Financial director (Mr Pillay) Loss on remeasurement of financial assets Depreciation Dividend on redeemable preference shares Profit or loss Debit R 15 000 7.000 30 000 52 000 70 000 20 000 70 000 40 000 11.300 15 000 1 200 5000 3 500 1211 000 1551 000 ADDITIONAL INFORMATION: 1. Bles Group Limited maintains 25% constant gross profit on sales. 2. 20% of the depreciation expense relates to machinery whilst the remainder relates to vehicles 3. The following information is with regards to the ordinary shares: Authorised ordinary shares Issued ordinary shares at end of the reporting period REQUIRED: 250 000 shares 200 000 shares Credit R 1515 000 3 000 25 000 5.000 1.000 2000 1 551 000 (a) Prepare the statement of profit or loss and other comprehensive income and notes to this financial statement for Bles Group Limited for the reporting period ended 30 September 2014 to comply with the minimum requirements of IFRS and Companies Act (25) (b) List the eight general features of financial statements according to IAS 1. Presentation of Financial Statements. (8) QUESTION 2 Nawab & Ahmad Co. are in toys business. Their individual investments in the business on 1 January 2016 were: Nawab RM80,000; Ahmad RM40,000. Interest should be allowed on capital at 7 percent per annum. For the year ended 31 December 2016, the net profit was RM50,000, and the partner's drawings were: Nawab RM8,000; Ahmad RM9,000. They have agreed to share profits and losses equally. The partners entitled for annual salaries of: Nawab RM10,000; Ahmad RM14,000. REQUIRED: Prepare the profit and loss appropriation account and the partner's current accounts for the year ended 31 December 2016. Question2: Profit-Loss Analysis (20 marks) Price-demand functions, usually established by financial departments using historical data or sampling techniques, play an important part in profit-loss analysis. We will let x, the number of units manufactured and sold, represent the independent variable. In this problem, explore the relationships among the algebraic definition of a function, the numerical values of the function, and the graphical representation of the function. A company's market research department recommends the manufacture and marketing of a new headphone set for MP3 players. After suitable test marketing, the research department presents the following price-demand equation: x=10,000-1,000p. The financial department provides the cost function: C(x) = 7,000+2x. A) Express the price p in terms of the demand x, and find the domain of this function. (4 marks) B) Find the revenue function in terms of .x. (4 marks) C) Find the Profit function in terms of x. (4 marks) D) Graph the cost function and revenue function on the same coordinate system. (4 marks) E) Find the break-even points and indicate regions of loss and profit. Interpret the results. (4 marks) 3. Let f be a function of two variables x and y such that n f xn (a) (b) Given that g(u, v) = f(2u - 2v, 2u3 - 1) determine: - (1, 1) (0, 1) = 3, 30 (1, 1). d f (0, 1) - -2 for all n = = 1, 2, .... The accountant of Bles Group Limited presented you with the following statement of profit or loss of the company on 30 September 2014. BLES GROUP LIMITED Statement of profit or loss for the reporting period ended 30 September 2014 Add Info Sales Sales returns Rentals: Dividends: Commission income Interest income Profit on sale of equipment Salaries and wages Directors' remuneration: Computers Buildings Manufacturing Limited Selling (Pty) Ltd Income tax expense Auditors remuneration Interest on loan Managing director (Mr Board) Chairman of the board (Ms Nel) Financial director (Mr Pillay) Loss on remeasurement of financial assets Depreciation Dividend on redeemable preference shares Profit or loss Debit R 15 000 7.000 30 000 52 000 70 000 20 000 70 000 40 000 11.300 15 000 1 200 5000 3 500 1211 000 1551 000 ADDITIONAL INFORMATION: 1. Bles Group Limited maintains 25% constant gross profit on sales. 2. 20% of the depreciation expense relates to machinery whilst the remainder relates to vehicles 3. The following information is with regards to the ordinary shares: Authorised ordinary shares Issued ordinary shares at end of the reporting period REQUIRED: 250 000 shares 200 000 shares Credit R 1515 000 3 000 25 000 5.000 1.000 2000 1 551 000 (a) Prepare the statement of profit or loss and other comprehensive income and notes to this financial statement for Bles Group Limited for the reporting period ended 30 September 2014 to comply with the minimum requirements of IFRS and Companies Act (25) (b) List the eight general features of financial statements according to IAS 1. Presentation of Financial Statements. (8) QUESTION 2 Nawab & Ahmad Co. are in toys business. Their individual investments in the business on 1 January 2016 were: Nawab RM80,000; Ahmad RM40,000. Interest should be allowed on capital at 7 percent per annum. For the year ended 31 December 2016, the net profit was RM50,000, and the partner's drawings were: Nawab RM8,000; Ahmad RM9,000. They have agreed to share profits and losses equally. The partners entitled for annual salaries of: Nawab RM10,000; Ahmad RM14,000. REQUIRED: Prepare the profit and loss appropriation account and the partner's current accounts for the year ended 31 December 2016. Question2: Profit-Loss Analysis (20 marks) Price-demand functions, usually established by financial departments using historical data or sampling techniques, play an important part in profit-loss analysis. We will let x, the number of units manufactured and sold, represent the independent variable. In this problem, explore the relationships among the algebraic definition of a function, the numerical values of the function, and the graphical representation of the function. A company's market research department recommends the manufacture and marketing of a new headphone set for MP3 players. After suitable test marketing, the research department presents the following price-demand equation: x=10,000-1,000p. The financial department provides the cost function: C(x) = 7,000+2x. A) Express the price p in terms of the demand x, and find the domain of this function. (4 marks) B) Find the revenue function in terms of .x. (4 marks) C) Find the Profit function in terms of x. (4 marks) D) Graph the cost function and revenue function on the same coordinate system. (4 marks) E) Find the break-even points and indicate regions of loss and profit. Interpret the results. (4 marks) 3. Let f be a function of two variables x and y such that n f xn (a) (b) Given that g(u, v) = f(2u - 2v, 2u3 - 1) determine: - (1, 1) (0, 1) = 3, 30 (1, 1). d f (0, 1) - -2 for all n = = 1, 2, ....

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