$$ Read the Case Study below and answer ALL of the questions that follow.

Question $1$

$(15$ Marks$)$

Sanchia Jacobs is looking to sell her house in Hillcrest for R$2$ million. She appoints an estate agent, Bernie Brown of Brown's Real Estate to sell the house on her behalf. Sanchia gives Bernie $6($six$)$ months to find a buyer as she will soon be emigrating to Australia to live with her three children.

Bernie agrees and enters a contract with Sanchia to sell her house on her behalf. Bernie soon finds who he believes to be the perfect buyer for the house, Colin Xhosa.

Assume that Sanchia, the seller, is also approached directly by Colin. She asks Colin to speak to Bernie her agent to finalise the sale of the house and agree on a purchase price.

However, In the interim, Sanchia receives a higher offer and agrees to sell the house to another third party, Hayley Botha, for a higher price of R$2\mathrm{.}3$ million. Bemie and Colin are both unaware of Sanchia's actions.

When Colin becomes aware of this, he confronts Sanchia and she denies that Bernie ever had authority to act on her behalf. She tells him $"$He was never my agent!".

Can Colin rely on the remedy of estoppel to secure the purchase of the house and prevent Sanchia from denying that she did not accept the offer of R$2\mathrm{.}3$ million? Discuss and support your answer.

Question $2$

$(15$ Marks$)$

Henry Coetzee is declared insolvent and his estate is sequestrated. He is married in community of property to his wife, Lizelle Coetzee. Lizelle approaches you for advice.

Advise Lizelle on the effects the sequestration will have on Henry $($the insolvent$)\text{'}$s property and ability to hold certain offices as well as the effect on his spouse's estate.$$ Read the Case Study below and answer ALL of the questions that follow.

Question $1$

$(15$ Marks$)$

Sanchia Jacobs is looking to sell her house in Hillcrest for R$2$ million. She appoints an estate agent, Bernie Brown of Brown's Real Estate to sell the house on her behalf. Sanchia gives Bernie $6($six$)$ months to find a buyer as she will soon be emigrating to Australia to live with her three children.

Bernie agrees and enters a contract with Sanchia to sell her house on her behalf. Bernie soon finds who he believes to be the perfect buyer for the house, Colin Xhosa.

Assume that Sanchia, the seller, is also approached directly by Colin. She asks Colin to speak to Bernie her agent to finalise the sale of the house and agree on a purchase price.

However, In the interim, Sanchia receives a higher offer and agrees to sell the house to another third party, Hayley Botha, for a higher price of R$2\mathrm{.}3$ million. Bemie and Colin are both unaware of Sanchia's actions.

When Colin becomes aware of this, he confronts Sanchia and she denies that Bernie ever had authority to act on her behalf. She tells him $"$He was never my agent!".

Can Colin rely on the remedy of estoppel to secure the purchase of the house and prevent Sanchia from denying that she did not accept the offer of R$2\mathrm{.}3$ million? Discuss and support your answer.

Question $2$

$(15$ Marks$)$

Henry Coetzee is declared insolvent and his estate is sequestrated. He is married in community of property to his wife, Lizelle Coetzee. Lizelle approaches you for advice.

Advise Lizelle on the effects the sequestration will have on Henry $($the insolvent$)\text{'}$s property and ability to hold certain offices as well as the effect on his spouse's estate.Merafe Limited is busy with the budgeting process for the $2023$ financial year. The following information

is provided to assist with this process:

Merafe Limited

Statement of Comprehensive Income for the year ended $31$ December $2022$

Additional information:

Sales for the year ending $31$ December $2023$ is expected to increase by $12\%.$

The existing gross profit percentage will be maintained in $2023.$

The company will acquire additional assets costing R$200000$ on $1$ January $2023.$ The book value of

existing assets on $1$ January $2023$ is R$1200000.$ No assets are expected to be sold in $2023.$ The

company provides for depreciation on a diminishing balance method at $10\%$ per annum.

Other operating expenses are expected to increase by $10\%$ in $2023.$

The company will take out additional loans in $2023$ and it is expected that total interest expense will

increase by $15\%$ in $2023.$

The company taxation rate is expected to remain unchanged.

REQUIRED

Compile the Projected Statement of Comprehensive Income for the year ended $31$ December $2023.$