LML4804
assignmen
Assignment 2 Semester 2 2025
UNIQUE CODE:
Detailed Solutions, References & Explanations
DUE DATE: 08 Sept 2025
Terms of use
By making use of this document you agree to:
Use this document as a guide for learning,
comparison and reference purpose,
Not to duplicate, reproduce and/or misrepresent the
contents of this document as your own work,
Fully accept the consequences should you plagiarise
or misuse this document.
Disclaimer
Extreme care has been used to create this
document, however the contents are provided “as
is” without any representations or warranties,
express or implied. The author assumes no
liability as a result of reliance and use of the
contents of this document. This document is to
be used for comparison, research and reference
purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or
by any means.
, 0688120934
PREVIEW
Question 1 (Gross Income)
1.1 Mr X – Attorney and Trust Account
Mr X is a sole proprietor attorney based in Tshwane who, according to his work policy,
requires payment into his trust account before rendering services. At the end of the
2024/25 year of assessment, his trust account reflected R175 000 for work still to be
performed. Additionally, he had issued invoices to clients who had not made upfront
deposits, offering a discount for early settlement. None of these invoices were settled by
year-end.
The question is whether the R175 000 in trust and the invoiced but unpaid amounts
form part of his gross income for 2024/25.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is”
without any representations or warranties, express or implied. The author assumes no liability as
a result of reliance and use of the contents of this document. This document is to be used for
comparison, research and reference purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or by any means.
assignmen
Assignment 2 Semester 2 2025
UNIQUE CODE:
Detailed Solutions, References & Explanations
DUE DATE: 08 Sept 2025
Terms of use
By making use of this document you agree to:
Use this document as a guide for learning,
comparison and reference purpose,
Not to duplicate, reproduce and/or misrepresent the
contents of this document as your own work,
Fully accept the consequences should you plagiarise
or misuse this document.
Disclaimer
Extreme care has been used to create this
document, however the contents are provided “as
is” without any representations or warranties,
express or implied. The author assumes no
liability as a result of reliance and use of the
contents of this document. This document is to
be used for comparison, research and reference
purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or
by any means.
, 0688120934
PREVIEW
Question 1 (Gross Income)
1.1 Mr X – Attorney and Trust Account
Mr X is a sole proprietor attorney based in Tshwane who, according to his work policy,
requires payment into his trust account before rendering services. At the end of the
2024/25 year of assessment, his trust account reflected R175 000 for work still to be
performed. Additionally, he had issued invoices to clients who had not made upfront
deposits, offering a discount for early settlement. None of these invoices were settled by
year-end.
The question is whether the R175 000 in trust and the invoiced but unpaid amounts
form part of his gross income for 2024/25.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is”
without any representations or warranties, express or implied. The author assumes no liability as
a result of reliance and use of the contents of this document. This document is to be used for
comparison, research and reference purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or by any means.
