Sales of R30 000 were made using cash.Credit sales of R45 000 were made.Tax of R25 000 was paid.The credit for the pool pumps was settled in full.Required:Using the table below, show the effect of the above transactions. Thefirst transaction has been demonstrated.Assets (R)Owner's equity (R)Liabilities (R)(+/-)(+/-)(+/-)-18 000+ 18 000 You are the sales manager at Bright Lights (Pty) Ltd, a hardware store. Apromotion and awareness campaign has been planned for a range of solar lamps,fridges and water pumps. You are meeting with the CFO and need to prepare thepricing suggestions for the products. Some prices are calculated by a mark-upon cost and others as a margin on selling price.Tent lampPond pump300 30% mark-up on costB 25% margin on selling price50% mark-up on cost2 000 D % mark-up on costA1 200Garden light500Car bar2 600Home cooler1 500 E % margin on selling price2 0502.1Complete the table above by writing out answers for A to E. Round youranswers to the nearest whole number.2.2The following transactions have taken place at Bright Lights over the pastmonth. The company uses a periodic stock system. Purchases aretherefore recorded during the year and a final stock count is done atyear-end:Twenty pond pumps were purchased on credit for R18 000.Five car bars costing R10 000 were bought for cash. The supplierprovided a 2% discount.

Tent pump 300 30% mark up on cost 390 Pond pump 900 25% margin on selling price 1200 Garden…

You are the sales manager at Bright Lights (Pty) Ltd, a hardware store. A promotion and awareness campaign has been planned for a range of solar lamps, fridges and water pumps. You are meeting with the CFO and need to prepare the pricing suggestions for the products. Some prices are calculated by a mark-up on cost and others as a margin on selling price. 300 30% mark-up on cost B 25% margin on selling price 50% mark-up on cost 2 000 D % mark-up on cost Tent lamp A Pond pump 1 200 Garden light 500 Car bar Home cooler 2 600 2 050 1 500 E % margin on selling price 2.1 Complete the table above by writing out answers for A to E. Round your answers to the nearest whole number. 2.2 The following transactions have taken place at Bright Lights over the past month. The company uses a periodic stock system. Purchases are therefore recorded during the year and a final stock count is done at year-end: Twenty pond pumps were purchased on credit for R18 000. Five car bars costing R10 000 were bought for cash. The supplier provided a 2% discount.

You are the sales manager at Bright Lights (Pty) Ltd, a hardware store. A promotion and awareness campaign has been planned for a range of solar lamps, fridges and water pumps. You are meeting with the CFO and need to prepare the pricing suggestions for the products. Some prices are calculated by a mark-up on cost and others as a margin on selling price. 300 30% mark-up on cost B 25% margin on selling price 50% mark-up on cost 2 000 D % mark-up on cost Tent lamp A Pond pump 1 200 Garden light 500 Car bar Home cooler 2 600 2 050 1 500 E % margin on selling price 2.1 Complete the table above by writing out answers for A to E. Round your answers to the nearest whole number. 2.2 The following transactions have taken place at Bright Lights over the past month. The company uses a periodic stock system. Purchases are therefore recorded during the year and a final stock count is done at year-end: Twenty pond pumps were purchased on credit for R18 000. Five car bars costing R10 000 were bought for cash. The supplier provided a 2% discount.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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MANAGERIAL ACCOUNTING
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