Fac1601 Assessment 3 Sem 2 Of 2026 Expected Questions And Answers(21 Sept)

ROOIBERG COFFEE ROASTERS (PTY)
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STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE
INCOME FOR THE YEAR ENDED 28
FEBRUARY 2026

R
Revenue
2 755 200
[2 762 400 - 2 400 - 4 800]
Cost of sales
(1 016 800)
[58 000 + 1 048 000 - 6 000 - 1 200 - 82
000]
Inventory (1 March 2025) 58 000
Purchases 1 048 000
Purchases returns (6 000)
Settlement discount received (1 200)
Inventory (28 February 2026) (82 000)
Gross profit 1 738 400
Other income 17 100

Rental income [28 000 - (28 × 3)] 16 000

Decrease in allowance for credit losses [3
1 100
200 - 2 100]
Operating expenses (439 200)
Directors' remuneration (52 000)
Water and electricity (24 600)
Salaries and wages (68 000)
Insurance expense [61 600 - (61
(52 800)
× 2)]
Credit losses [2 600 + 4 200] (6 800)
Depreciation [((1 000 000 - 300 000) ×
20%) + (300 000 × 20% × 4/12) + (500 (235 000)
000 × 15%)]
Operating profit 1 316 300
Investment income 24 600
Dividends received 24 600
Finance costs (78 000)
Interest expense (78 000)
Profit before tax 1 262 900
Income tax expense (348 900)
Profit for the year 914 000
Other comprehensive income:
Revaluation surplus on land and buildings
80 000
[1 280 000 - 1 200 000]