Exam (elaborations)
Fac2601 Assignment 3 semester 1 2024
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5/2/24, 8:26 PM Assessment 3 - 2 May 2024 (18:00 - 21:00): Attempt review Dashboard Calendar
Dashboard / My courses / FAC2601-24-S1 / Welcome Message / Assessment 3 - 2 May 2024 (18:00 - 21:00)
Started on Thursday, 2 May 2024, 6:38 PM
State Finished
Completed on Thursday, 2 May 2024, 8:20 PM
Time taken 1 hour 42 mins
Marks 38.00/40.00
Grade 95.00 out of 100.00
Question 1
Complete
Mark 2.00 out of 2.00
QUESTION 1:
Trail Ltd’s issued share capital has not changed since incorporation on 1 January 2020, and consists of:
400 000 Ordinary shares (issued at R2 each)
150 000 9% Preference shares (issued at R2 each)
180 000 10% Cumulative preference shares (issued at R3 each)
No dividends were declared in the previous two financial years, but at the end of the current financial year on 31 December 2023, a
dividend of 15c per ordinary share was declared.
REQUIRED:
Which one of the following amounts will be the total dividend expense on 31 December 2023?
1. R141 000
2. R249 000
3. R250 500
4. R150 000
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=200128&cmid=70935 1/13
, 5/2/24, 8:26 PM Assessment 3 - 2 May 2024 (18:00 - 21:00): Attempt review
Question 2
Complete
Mark 2.00 out of 2.00
Dashboard Calendar
QUESTION 2:
Dashboard / My courses / FAC2601-24-S1 / Welcome Message / Assessment 3 - 2 May 2024 (18:00 - 21:00)
Soll Ltd provided a loan to Fargo Ltd on 1 November 2020 of which the capital portion is repayable in eleven equal annual instalments
starting on 1 July 2021. Interest on the loan is calculated at 10% per annum and is payable at the end of each financial year.
The year-end of Soll Ltd is 31 December.
The outstanding balance on the loan, as at 31 December 2023, amounts to R540 000.
REQUIRED:
Which one of the following options represents the amount of interest received by Soll Ltd for the year ended 31 December 2023?
1. R27 000
2. R67 375
3. R57 375
4. R30 375
Question 3
Complete
Mark 2.00 out of 2.00
QUESTION 3:
Both the managing director and regional manager of Vilakazi Ltd have the benefit of the use of company cars, which may also be used
for private purposes. The total benefit for the use of such a car is estimated at R150 000 per year, of which 30% is for private use and
70% for business purposes.
REQUIRED:
The total amount that should be disclosed in remuneration as other benefits should be:
1. R45 000
2. R150 000
3. R210 000
4. R90 000
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=200128&cmid=70935 2/13
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