JANTJES LIMITED The information relates to the financial year ended 28 February 2022 - NSC Accounting - Question 2 - 2022 - Paper 1

To calculate the fixed assets purchased:

Fixed Assets Purchased =
Total assets at start - Total depreciation + Net fixed assets sold
Using the values:

• Starting fixed assets: R7,988,000
• Total sold: R299,000

Using this, we calculate:

Fixed Assets Purchased = R7,988,000 - R299,000 - R36,124 = R1,160,624.

To calculate the dividends paid, we consider the cash flows:

Dividends Paid = R480,000
The values indicate a direct relationship to cash outgoing of the entity.

For the decrease in loan, we determine from the payments noted:

Payments = R456,000 - R216,000 = R240,000. This is the decrease figure calculated.

To calculate the Net Change in Cash and Cash Equivalents:

Net Change = Opening Balance - Closing Balance
Using the values:

• Opening Balance = R129,000 + R5,000.
• Closing Balance = R125,000 + R5,000.

Thus, we conclude:

Net Change = R134,000 - R120,000 = (R254,000).

To find the % mark-up achieved:

Mark-up = (Selling Price - Cost Price) / Cost Price * 100
Substituting: Mark-up = (R5,400,000 - R2,700,000) / R2,700,000 * 100 = 75%.

The Acid-Test Ratio is calculated as:

Acid-Test Ratio = (Current Assets - Inventory) / Current Liabilities
Substituting: Acid-Test Ratio = (R1,323,000 - R514,500) / R735,000 = 1.1.

NAV can be calculated using:

NAV = Total Assets / Number of Shares
Substituting the values: NAV = R8,840,700 / (1,000,000 - 200,000) = R768.6 cents.

To calculate ROSE:

ROSE = Net Income / Average Equity * 100
Using the values found: ROSE = (H1,000,000 / R670,000) * 100 = (9.2%).