Financial Planning and Control Case Study Solutions Second Semester 2022

FINANCIAL PLANNING
AND
CONTROL
CASE STUDY SOLUTIONS
SECOND SEMSTER 2022


BY: MTHOMBENI : 0767297208

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, QUESTION 1
1.1
Pro forma statement of financial position as at 31 December 2022
ASSETS
Non-current assets 9 700 000
Vehicle (6000 000+5000 000-100 000-1 200 000) 9 700 000

Current assets 8 520 000
Inventories (5 500 000+6 500 000-5 940 000) 6 060 000
Accounts receivable (10 800 000X 73/365) 2 160 000
Cash and cash equivalents 300 000
Total assets 18 220 000

EQUITY AND LIABILITIES 7 260 000
SHAREHOLDER EQUITY (5 000 000 xR1) 5 000 000
Retained earnings (1 600 000+ 2 160 000 -1 500 000) 2 260 000

Non-current liabilities 9 580 000
Long-term loan (18 220 000-7 260 000 -1 380 000) 9 580 000

Current liabilities 1 380 000
Accounts payable (10 800 000x 10%) 1 080 000
Shareholders for dividends (1 500 000 – 1 200 000) 300 000
Total equity and liabilities 18 220 000


Workings
 2022 sales (9 000 000x120%) = 10 800 000
 2022 cost sales (10 800 000 x55/100) = 5 940 000
 2022 inventory on hand (5 500 000+ 6 500 000-5 940 000) = 6 060 000
 2022 net profit (10 800 000x20%) = 2 160 000
 Sales method
 Account payables
900 000
9 000 000
𝑥 100 = 10%




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