Week+1 - FINANCIAL ACCOUNTING (ACC1006S) SUGGESTED...

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FINANCIAL ACCOUNTING (ACC1006S) SUGGESTED SOLUTIONS TUTORIALS HANDED IN ON 3 AUGUST 2009 TUTORIAL 1: OBJ001 1. The main objective of a business is to create and maximise shareholder wealth. This means that the business activities should increase the assets and reduce the liabilities. 2. A delivery note is used when the supplier delivers goods that you had ordered to your business. The main objective of this document is to prove that a business has received the correct type, quantity and quality of goods as ordered. This should be compared to a purchase order. 3. Trade Receivables is a person or a business that owes the business (that will be paid in the future according to the credit terms) for goods or services that have been provided. 4. 4.1. This would be debt (obtaining of loans from sources outside of the business) and equity (the investment of assets by the owner) 4.2. John made an investment decision – the purchase of assets. 4.3. The total growth in assets over the 2007 year was R250 000 (R450 000 – R200 000) The distribution decision is the decision taken about what portion of the net assets (assets – liabilities) to keep in the business for further investment and what portion of the net assets to pay out to the owner. _________________________________________________________________________ TUTORIAL 2: OBJ002 1. 1.1. Productive Assets: 1.1.1. Delivery Vehicles, Supermarket Property (unless rented), Shelving, etc. 1.1.2.
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This note was uploaded on 02/28/2012 for the course ACC !006S taught by Professor Jaquiqueue during the Spring '11 term at University of Cape Town.

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Week+1 - FINANCIAL ACCOUNTING (ACC1006S) SUGGESTED...

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