, FAC1602 Assignment 2 (COMPLETE ANSWERS) 2025 - DUE April
2025;100% CORRECT AND TRUSTED SOLUTIONS
Ndalamo CC specialises in manufacturing high-quality security seals designed to
secure cargo transported by trucks and vans. The company operates primarily
within the logistics hubs in and around Durban, KwaZulu-Natal. Founded in 2018,
the two founders established the registered CC and successfully obtained industry-
standard certifications allowing them to expand their operations significantly.
Their commitment to reliability and product excellence led to substantial growth,
particularly with increased business from transporters managing cargo coming
through the bustling Durban port. This strategic expansion has positioned Ndalamo
Ltd as a trusted partner for transport and logistics companies requiring dependable
cargo security solutions.
The company’s accountant presented the following information to you as the
accounting officer of the company:
NDALAMO LTD
EXTRACT OF BALANCES AS AT 28 FEBRUARY 2025:
Description R
Investments 475,800
Land and buildings at revaluation (1 March 2024) 1,744,000
Equipment at cost 974,500
Accumulated depreciation: Equipment (133,000)
Revaluation surplus (1 March 2024) 163,000
Inventory (1 March 2024) 72,400
Bank 203,300
Trade receivables control 427,500
Petty cash 10,800
Member’s contributions 1,176,900
Retained earnings (1 March 2024) 415,400
Loan: KwaThema Bank 189,600
SARS (income tax) (Dr) 47,900
Sales 4,992,500
Allowance for settlement discount granted 10,900
2025;100% CORRECT AND TRUSTED SOLUTIONS
Ndalamo CC specialises in manufacturing high-quality security seals designed to
secure cargo transported by trucks and vans. The company operates primarily
within the logistics hubs in and around Durban, KwaZulu-Natal. Founded in 2018,
the two founders established the registered CC and successfully obtained industry-
standard certifications allowing them to expand their operations significantly.
Their commitment to reliability and product excellence led to substantial growth,
particularly with increased business from transporters managing cargo coming
through the bustling Durban port. This strategic expansion has positioned Ndalamo
Ltd as a trusted partner for transport and logistics companies requiring dependable
cargo security solutions.
The company’s accountant presented the following information to you as the
accounting officer of the company:
NDALAMO LTD
EXTRACT OF BALANCES AS AT 28 FEBRUARY 2025:
Description R
Investments 475,800
Land and buildings at revaluation (1 March 2024) 1,744,000
Equipment at cost 974,500
Accumulated depreciation: Equipment (133,000)
Revaluation surplus (1 March 2024) 163,000
Inventory (1 March 2024) 72,400
Bank 203,300
Trade receivables control 427,500
Petty cash 10,800
Member’s contributions 1,176,900
Retained earnings (1 March 2024) 415,400
Loan: KwaThema Bank 189,600
SARS (income tax) (Dr) 47,900
Sales 4,992,500
Allowance for settlement discount granted 10,900
