AIN2601 FASSET Class. - AIN2601 Lecturers. Session 03

Transcription

1 AIN2601 FASSET Class - AIN2601 Lecturers Session 03

2 FINAL MARK CALCULATION Year mark: 25% Exam mark: 75% Final mark: 100% You need a final mark of 50% to pass. Supplementary students: You need a final mark of 50% to pass (refer above) Aegrotat students: Last semester s year mark transfers to this semester Refer to TL102/2016 for more detail 2

3 EXAM INFO QUESTION MARKS Multiple choice questions 8 Fill in the missing word 8 Longer questions from the study guide 1 and 2; Pastel Training Manual 84 TOTAL 100 Part 1 and 4 Data management and utilisation Management reporting systems ± 25% Part 2 Spreadsheets ± 35% Part 3 Transaction processing ± 40% TOTAL 100% There are NO OLD QUESTIONS from previous exams in this exam paper. All the questions for this exam are original questions! 3

4 WHAT TO STUDY Study guide 1 and 2 can be found in MO001 and MO002 Printed version myunisa Additional resources -.pdf version myunisa Learning units online version TL202 contains important feedback on Assignment 02 TL102 contains helpful exam guidelines (not exam scope) Pastel Partner training manual 4

5 WHAT TO STUDY PASTEL/TRANSACTION PROCESSING: Pastel training manual Topic 6 in your study guide TL202 Transaction processing: Topic 3 SU 7,8,9,10 Answers to the Pastel manual questions: Pastel CD: Data files accompanying Pastel course ware 5

6 WHAT TO STUDY EXCEL: Topic 2 in your study guide the complete topic PRACTICE EXCEL!!! Complete all activities in Topic 2 Know structures of Functions Given structures - PMT, PV, FV & VLOOKUP know when and how to use 6

7 THEORY: All the remaining study units Topic 1: SU1,2,3 Topic 3: SU11,12 Topic 4: SU13 Topic 5: SU14 Topic 7: SU19,20 WHAT TO STUDY STUDY THE COMPLETE STUDY UNITS 7

8 AIN2601 Pastel Component

9 How to approach PASTEL

10 Amount due vs Amount outstanding Is there a difference? What is the difference? Amount due: Based on the terms set out for customer or by supplier, payment not expected immediately but after a certain time. i.e 30days, 60days. Full amount outstanding: Pay full balance outstanding, regardless of terms.

11 Amount due vs Amount outstanding Example 1: 1 June 17 - Cindy buys goods for R July 17 Cindy buys good for R950. Customers normal monthly payment terms are 30 days 30 June: What is the amount due by Joey?

12 Amount due vs Amount outstanding 30 June: What is the amount due by Cindy? R0, why? 30days not yet up. Payable after 30 days..

13 Amount due vs Amount outstanding Example: 1 June 17- Cindy buys goods for R July 17 Cindy buys good for R950. Customers normal monthly payment terms are 30 days When is it expected for her to pay for the 1 June purchases?

14 Amount due vs Amount outstanding When is it expected for her to pay for the 1 Apr purchases? End July 2017 Why? 30days i.e the following month

15 Amount due vs Amount outstanding Example 2: 1 June 17- Cindy buys goods for R July 17 Joey buys good for R950. Customers normal monthly terms are 30 days. Early payment terms: At 10% within 7 days from invoice date 15 July: Cindy decides to pay full amount outstanding on this date.

16 Amount due vs Amount outstanding 15 July: Cindy decides to settle her outstanding balance on this date. Calculate the total amount: 1 June sale: WHY? Inv date > 5 days 9 July sale: WHY? Inv date < 5 days R950*0.9 R300 R855

17 PASTEL QUESTION 1 17

18 Only two of Dough Delights customers, namely Easy Treats (ETS001) and Home Chef (HCF002), are allowed to buy on credit. All other customers must pay cash for their purchases. Easy Treats is a registered VAT vendor but Home Chef is not a registered VAT vendor. Dough Delights customer terms are as follows: normal monthly terms are 30 days customer accounts are prepared using both open item and balance forward processing invoice discount for Easy Treats has been set up as 10% and for Home Chef as 5% early payment terms is set up as 15% within 5 days from period end for customers who are allowed to buy on credit 18

19 Below is a screen print of the customer age analysis as at 31 August Refer to the printed Pastel Partner Customer Age Analysis Which customer account was processed using open item processing? Provide a reason for your answer Which customer account was processed using balance forward processing? Provide a reason for your answer. (2) 19

20 2.2. Refer to the printed Pastel Partner Customer Age Analysis. Customer invoice of INA10001 was paid in full by Easy Treats using the reference RC567. What was the amount paid in cash by Easy Treats to Dough Delights? Show detail of your calculation as part of your answer (3) 2.3. In which accounting period was invoice INA10006 issued to Home Chef on 31 August 2016 captured? List only the accounting period number. (1) Please refer to the case study information to answer questions 4.5 to Which Pastel main menu will you use for the following procedures? Restore a backup of a company (1) Print the customer age analysis (1) Create a customer quotation (1) Change user access rights (1) Modify a specific customer s early payment terms (1) 20

21 2.1.1 ETS001 or Easy Treats The receipts are matched against the original invoice and therefore appear in the original invoice s financial period and not in the financial period in which the money was received. (2) HCF002 or Home Chef The receipts are not matched to the original invoice and therefore appear in the financial period in which the money was received (2) 2.2. R 51,300 x 85% = R43,605 or R 51,300 x 15% = R 7,695 R51,300 - R 7,695 = R43,605 (3) (1)

22 2.5. Home Chef purchased 200 kg of blueberry muffin mix on 12 September 2016 from Dough Delights. Tax invoice INA10010 was issued for this purchase. The trial balance of Dough Delights gave you the following general ledger account numbers and account descriptions. Account number Account description 8000/000 Customer Control Account 8400/000 Bank account 9000/000 Supplier Control Account 9500/000 Vat / Tax Control Account Draw the table below in your answer book. Use this table to record the accounting entries for tax invoice INA Note: You should show all the applicable accounting entries and use specified accounts where available. Where applicable, all amounts must be rounded to 2 decimal places. Tip: draw the T-accounts for yourself as rough work in your answer book to help ensure your debits and credits are correct. (8) 22

23 File (1) View (1) Process (1) Setup (1) Edit (1) 2.5 (8) General ledger account number General ledger description Debit / Credit Amount 1000/003 Sales - muffin mix Credit 8000/000 Customer Control Account Debit 9500/000 Vat / Tax Control Account Credit 2000/003 COS - muffin mix Debit 7700/003 Inventory - muffin mix Credit R 2, (200*R15*95%) R 3, (R2850+R399) R (R2850*0.14) R 1, (200*R7.50) R 1, (200*R7.50)

24 Please refer to the payment cash book screen below to answer questions 2.6 to In the GCS column of the payment cashbook journal each letter has a specific meaning What does the letter G represent? (1) What does the letter C represent? (1) What does the letter S represent? (1) 2.7. Why is the C normally not available in the GCS column of the payment cash book journal? (1) 2.8. Assume there are no receipt transactions. Calculate the bank balance amount for general ledger account 8400/000 if the current payment journal batch was updated as it currently is? Your answer should indicate if the general ledger balance is a debit or a credit balance. (2) 2.9. Identify which transaction was captured incorrectly on this journal and should, therefore, be deleted before updating the batch. Also give a brief reason why this transaction was captured in the wrong journal. (2) 24

25 2.6.1 G General ledger (1) C - Customer (1) S Supplier (1) 2.7 Because, generally, we do not pay customers. (1) 2.8 R Credit R 165, (current balance) - R 775, (batch total) (2) 2.9 Depreciation entry on line 3. Only cash related transactions may be captured in the cashbook and depreciation has no effect on the cash in the bank. It should be captured in the depreciation or general journal. (2) 25

26 PASTEL QUESTION 2 26

27 QUESTION 3 (9 marks) 27

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31 PASTEL QUESTION 3 31

32 BACKGROUND Eco Huge Machines is a business that sells numerous kinds of mining and construction equipment including wheel loaders, track loaders, water trucks and bulldozers. They have been running their business for a few months and they use Pastel Partner version 14 to record their business transactions. Eco Huge Machines always purchases wheel loaders and bulldozers on credit from Solid Mining Solutions (SMS001). Both Eco Huge Machines and SMS001 are registered VAT vendors. Pastel has been setup such that the inventory is integrated with the general ledger (perpetual inventory system), and the inventory quantity on hand is therefore reflected as soon as it has been received into the system. It is the policy of Eco Huge Machines to record the inventory immediately when received or sold. 32

33 3 Which Pastel Partner main menu will you use for the following procedures? 3.1 Create a new general ledger account (1) 3.2 Change user access rights (1) 3.3 Capture a general journal (1) 3.4 Print the supplier age analysis (1) 3.5 Restore backup of a company (1) 33

34 Question 3 Edit menu Setup menu Process menu View menu File menu (5)

35 PASTEL QUESTION 4 35

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39 PASTEL QUESTION 5 39

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43 AIN Excel

44 EXCEL Basic Principles Signs/operators Multiplication: X = * Division: = / Exponents: a 2 = ^ Not equal: = = <>

45 EXCEL Basic Principles Order of operation (Sequence of computation) 1. Brackets ( ) 2. Exponents ^ 3. Multiplication (*) and Division (/) from left to right 4. Addition (+) and Subtraction (-) from left to right Example: * 2 =??? ( ) * 2 =???

46 EXCEL Basic Principles Order of operation (Sequence of computation) 1. Brackets ( ) 2. Exponents ^ 3. Multiplication (*) and Division (/) from left to right 4. Addition (+) and Subtraction (-) from left to right Example: * 2 = 300 ( ) * 2 =???

47 EXCEL Basic Principles Order of operation (Sequence of computation) 1. Brackets ( ) 2. Exponents ^ 3. Multiplication (*) and Division (/) from left to right 4. Addition (+) and Subtraction (-) from left to right Example: * 2 = 300 ( ) * 2 = 400

48 EXCEL Basic Principles Changing the sign of an amount To change a sign of an amount multiply by -1 or add a before the cell reference i.e. B40 or function i.e. IF +100 * -1 = * -1 = +100 Percentages A percentage = a fraction i.e. 100% = 1. Cell formatted as % Microsoft Office Excel underlying value in cell 7% % % % 1

49 EXCEL Working with VAT R % Amount excluding VAT 100% VAT 14% Amount including VAT 114% Microsoft Office Excel underlying value The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R???

50 EXCEL Working with VAT R % Amount excluding VAT? 100% VAT 14% Amount including VAT R % Microsoft Office Excel underlying value The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R???

51 EXCEL Working with VAT R % Microsoft Office Excel underlying value Amount excluding VAT? 100% 1 VAT 14% Amount including VAT R % The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R???

52 EXCEL Working with VAT R % Microsoft Office Excel underlying value Amount excluding VAT? 100% 1 VAT 14% 0.14 Amount including VAT R % The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R???

53 EXCEL Working with VAT R % Microsoft Office Excel underlying value Amount excluding VAT? 100% 1 VAT 14% 0.14 Amount including VAT R % 1.14 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R???

54 EXCEL Working with VAT R % Microsoft Office Excel underlying value Amount excluding VAT? 100% 1 VAT 14% 0.14 Amount including VAT R % 1.14 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R??? FORMULA : Amount excluding VAT=

55 EXCEL Working with VAT R % Microsoft Office Excel underlying value Amount excluding VAT? 100% 1 VAT 14% 0.14 Amount including VAT R % 1.14 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R??? FORMULA : Amount excluding VAT= 1

56 EXCEL Working with VAT R % Microsoft Office Excel underlying value Amount excluding VAT? 100% 1 VAT 14% 0.14 Amount including VAT R % 1.14 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R??? FORMULA : Amount excluding VAT= 1/1.14

57 EXCEL Working with VAT R % Microsoft Office Excel underlying value Amount excluding VAT? 100% 1 VAT 14% 0.14 Amount including VAT R % 1.14 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R??? FORMULA : Amount excluding VAT= 1/1.14*1 140

58 EXCEL Working with VAT The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R??? R % FORMULA : Amount excluding VAT = 1/1.14*1 140 Alternative formula = 1 140/1.14 Microsoft Office Excel underlying value Amount excluding VAT? 100% 1 VAT 14% 0.14 Amount including VAT R % 1.14

59 EXCEL Working with VAT The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R1 000 R % FORMULA : Amount excluding VAT= 1/1.14*1 140 Alternative formula = 1 140/1.14 Microsoft Office Excel underlying value Amount excluding VAT R % 1 VAT 14% 0.14 Amount including VAT R % 1.14

60 EXCEL Working with VAT The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Amount including VAT = R1 140 VAT% = 14% Amount excluding VAT = R1 000 R % Test your answer: * 0.14 = 140 (VAT) = (amount including VAT) Or * 1.14 = Microsoft Office Excel underlying value Amount excluding VAT R % 1 VAT R140 14% 0.14 Amount including VAT R % 1.14

61 EXCEL Working with Gross Profit Cost of sales Gross profit Sales R % Microsoft Office Excel underlying value The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =?

62 EXCEL Working with Gross Profit R % Cost of sales 100% Microsoft Office Excel underlying value Gross profit 25% Sales 125% The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =?

63 EXCEL Working with Gross Profit R % Cost of sales 100% Microsoft Office Excel underlying value Gross profit? 25% Sales R % The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =?

64 EXCEL Working with Gross Profit R % Microsoft Office Excel underlying value Cost of sales 100% 1 Gross profit? 25% Sales R % The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =?

65 EXCEL Working with Gross Profit R % Microsoft Office Excel underlying value Cost of sales 100% 1 Gross profit? 25% 0.25 Sales R % The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =?

66 EXCEL Working with Gross Profit R % Microsoft Office Excel underlying value Cost of sales 100% 1 Gross profit? 25% 0.25 Sales R % 1.25 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =?

67 EXCEL Working with Gross Profit R % Microsoft Office Excel underlying value Cost of sales 100% 1 Gross profit? 25% 0.25 Sales R % 1.25 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =? Formula: Gross profit R =

68 EXCEL Working with Gross Profit R % Microsoft Office Excel underlying value Cost of sales 100% 1 Gross profit? 25% 0.25 Sales R % 1.25 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =? Formula: Gross profit R = 0.25

69 EXCEL Working with Gross Profit R % Microsoft Office Excel underlying value Cost of sales 100% 1 Gross profit? 25% 0.25 Sales R % 1.25 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =? Formula: Gross profit R = 0.25/1.25

70 EXCEL Working with Gross Profit R % Microsoft Office Excel underlying value Cost of sales 100% 1 Gross profit? 25% 0.25 Sales R % 1.25 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R =? Formula: Gross profit R = 0.25/1.25 * 4 000

71 EXCEL Working with Gross Profit R % Microsoft Office Excel underlying value Cost of sales 100% 1 Gross profit R800 25% 0.25 Sales R % 1.25 The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R = R800 Formula: Gross profit R = 0.25/1.25 * 4 000

72 EXCEL Working with Gross Profit The amount you need in R = the amount you need in % / the amount you have in % X the amount you have in R Sales = R4 000 Gross profit % based on cost price= 25% Gross profit R = R800 R % Test your answer: = (cost of sales) 3 200*0.25= 800(gross profit) Microsoft Office Excel underlying value Cost of sales R % 1 Gross profit R800 25% 0.25 Sales R % 1.25

73 EXCEL RELATIVE REFERENCES

74 RELATIVE REFERENCES Copy down rows

75 EXCEL Relative reference Copy down rows A B C D =A1*D1 "=C2/D3 8 =A2*D2 "=C3/D4 9 =A3*D3 "=C4/D5 10

76 RELATIVE REFERENCES Copy across columns

77 EXCEL Relative reference Copy across columns A B C D E =A1*B1 =B1*C1 =C1*D1 8 =C4/A2 =D4/B2 =E4/C2

78 EXCEL ABSOLUTE REFERENCES

79 EXCEL Absolute reference ($) Like glue!! Locks the row and/or column reference in a cell reference Lock the row reference only: Insert $ in front of row reference i.e. A$1 Lock the column reference only: Insert $ in front of column reference i.e. $A1 Lock both the row and column reference: Insert $ in front of both the row and column reference i.e. $A$1

80 ABSOLUTE REFERENCES Copy down rows

81 EXCEL Absolute reference ($) Copy down rows Formula will be copied to range C9:C10. Reference to cell B2 must not change A B C 1 14% R % R =A$1*C4 "=B4/B$2 9 =A$1*C5 "=B5/B$2 10 =A$1*C6 "=B6/B$2

82 ABSOLUTE REFERENCES Copy across columns

83 EXCEL Absolute reference ($) Copy across columns Formula will be copied to range B9:C9. Reference to cell A2 must not change A B C D E 1 14% R % R =$B1*C5 =$B1*D5 =$B1*E5 9 =B6/$A2 =C6/$A2 =D6/$A2

84 ABSOLUTE REFERENCES Copy down rows and across columns

85 EXCEL Absolute reference ($) Copy down rows and across columns Formula will be copied to cells C9,D8. Reference to cell B2 must not change A B C D E 1 14% R % R =$A$1*B4 =E4/$B$2 9 =$A$1*C5 =D5/$B$2 10 =B6/$B$2 =$A$1*D6

86 HOW TO ANSWER AN EXCEL QUESTION Write down the structure of the Excel functions you must know out of your head Example =IF(logical_test,value_if_true,value_if_false) READ all the provided information and underline/highlight the important information READ through the spreadsheet (left to right & top to bottom) If an amount or a percentage(%) is given in a cell you MUST use that cell reference to use it in your formula/function Writing a formula: Write the formula using amounts and replace the amounts with the applicable cell reference Negative marks in exam Refer to MO001 document at the end of Study Unit 5 Have a look at the bigger picture Examples of exam questions

87 AVOID LOSING MARKS!!!!

88 EXCEL QUESTION 1

89 EXCEL QUESTIONS THE FOLLOWING IS APPLICABLE TO EXCEL QUESTIONS 1 AND 2 Please leave a line open after each individual question. You used the Excel Help function to obtain the following formula structures which might come in handy when answering questions 1 and 1: =VLOOKUP(lookup_value,table_array,col_index_num,range_lookup) =PMT(rate,nper,pv,fv,type) =FV(rate,nper,pmt,pv,type) =PV(rate,nper,pmt,fv,type)

90 EXCEL QUESTION 1 Having just completed her Accounting degree, Jane Smith was appointed as Assistant Inventory Clerk of Read-A-Lot Bookshop (RaL), a medium sized book shop co-owned by Mr and Mrs Pages. The bookshop prides itself with stocking all the latest and best-selling books across various genres, eg academic, fiction, non-fiction, sci-fi, and the Pages personal favourite romantic novels. RaL is a registered VAT vendor. During the interview with Jane, the Pages said: We have been experiencing some serious challenges with managing our inventory (stock), and we urgently need someone that will be extremely hands-on from day one. The first task will be to fix/improve our inventory management system. In line with the Pages request, Jane s first assignment was to develop a detailed inventory management schedule IMS (see the Excel spreadsheet on the following page) for monthly inventory management. The IMS will perform the following functions amongst others. 1) Illustrate the book s physical location in the store, 2) Indicate book authors, 3) Indicate the book s source; ie whether the book is locally bought/sourced or Imported, and 4) Project the total sales income (excluding VAT) generated per book title. RaL s current standalone inventory system uses a twelve (12) character stock reference number (SRN) as inventory code. Jane rather wants to use the accounting information system s (AIS) integrated inventory function to manage the inventory. The AIS s stock code format is however limited to seven (7) characters and Jane therefore needs to create new SRNs to be used as inventory codes.

91 EXCEL QUESTION 1 A B C D E F G H 1 Read-A-Lot Bookshop: Inventory Management Schedule (IMS) 2 Authors Table 3 VAT percentage 14% Author code Initials 4 HashimL2 HL 5 Book source and related mark-up margin GuguB012 GB 6 Source Mark-up % GroblerO GO 7 Imported Books (IM) 25% ButlerP1 BP 8 Local Books (LS) 15% 9 10 Book Title Author code Current SRN Location Code Author Initials New SRN Source Code Mark-up % 11 Book-Worm ButlerP1 2005R4S2BPIM R4S2 BP R4S2*BP IM 25% 12 Silent Killer GuguB R1S1GBIM R1S1 GB R1S1*GB IM 25% 13 New World GroblerO 2007R2S4GOLS R2S4 GO R2S4*GO LS 15% 14 Love Portion HashimL2 2010R1S4HLIM R1S4 HL R1S4*HL IM 25% New SRN Mark-up% Unit Cost Price Incl. VAT Unit Cost Price Excl. VAT Unit Selling Price Incl. VAT Unit Selling Price Excl. VAT Units sold Total Sales Income Excl. VAT 17 R2S4*GO 15.00% R R R R R 1, R1S4*HL 25.00% R R R R R 12, R4S2*BP 25.00% R R R R R 4, R1S1*GB 25.00% R R R R R 4, Grand Total Sales Income Excl VAT R 22, Lowest Unit Cost Price Incl VAT R Highest Unit Selling Price Excl VAT R

92 EXCEL QUESTION 1 a. Value Added Tax (VAT) percentage is 14% (refer to cell B3). b. Book source and related mark-up margin (refer to range A5:B8). Each book s mark-up margin (mark-up %) is determined based on whether the book is imported (IM) or locally sourced (LS). Imported books (IM) attract a 25% mark-up margin (refer to cell B7) and locally sourced books (LS) attract a 15% mark-up margin (refer to cell B8). c. Authors Table (refer to range G2:H7) indicates the unique 8 character author code and the corresponding authors initials. d. Current stock reference number (SRN) - (refer to range C11:C14) The current SRN structure is as follows: Year published Location Code Author Initials Source code Characters 1 to 4: Refer to the year the book was published. Characters 5 to 8: Refer to the book s location in the store. Characters 9 to 10: Refer to the initials of the author of the book. Characters 11 to 12: Indicate the source of the book as either imported (IM) or locally sourced (LS).

93 EXCEL QUESTION 1 e. The New stock reference number (SRN) (refer to range A16:A20) is created by combining the location code, an asterisk (the * sign) and the author initials. The new SRN structure is as follows: Location Code * Author Initials Characters 1 to 4: Refer to the book s location in the store. Character 5: * (Asterisk sign) Characters 6 to 7: Refer to the initials of the author of the book. f. The Source Code (refer to range G11:G14) is extracted from the current SRN (refer to point d)\ g. The Unit Cost Price Including VAT (refer to range C17:C20) was obtained from the inventory system and is the cost price (including VAT) of one book. h. The Unit Selling Price Including VAT (refer to range E17:E20) is based on the applicable Mark-up % (refer to point b.) and the Unit Cost Price Including VAT. i. The Total Sales Income Excluding VAT (refer to range H17:H20) is calculated by multiplying the given units sold for every SRN (refer range G17:G20) and the Unit Selling Price Excluding VAT.

94 REQUIRED: EXCEL QUESTION 1 Use the case study information and the spreadsheet to answer the following questions. Note: Where it is indicated that your formula will be copied to other cells, your formula must take absolute and relative cell references into account Which spreadsheet formula was entered into cell D11 to extract Book-Worm s Location Code from the current Stock Reference Number (SRN) in cell C11? Note: Your formula will be copied to range D11:D14. (2.5) 5.2. Which spreadsheet formula was entered into cell E11 to obtain Book-Worm s Author Initials from the Authors Table in starting in cell G2? Note: Your formula will be copied to range E12:E14. (3.5) 5.3. Which spreadsheet formula was entered into cell F11 to determine Book-Worm s New Stock Reference Number (SRN)? Note: Your formula will be copied to range F12:F14. (3) 5.4. Which spreadsheet formula was entered into cell G11 to extract Book-Worm s Source Code from the current Stock Reference Number (SRN) in cell C11? Note: Your formula will be copied to range G12:G14. (2)

95 EXCEL QUESTION Which spreadsheet formula was entered into cell H11 to determine the Book-Worm s Mark-up margin? Note: Your formula will be copied to range H12:H14. (3.5) 5.6. Which spreadsheet formula was entered into cell B17 to obtain R2S4*GO s Mark-up margin from the table in range F10:H14? Note: Your formula will be copied to range B18:B20. (3.5) 5.7. Which spreadsheet formula was entered into cell D17 to calculate R2S4*GO s Unit Cost Price Excluding VAT? Note: Your formula will be copied to range D18:D20. (2) 5.8. Which spreadsheet formula was entered into cell E17 to calculate R2S4*GO s Unit Selling Price Including VAT? Note: Your formula will be copied to range E18:E20. (2) 5.9. Which spreadsheet formula was entered into cell H21 to calculate the Grand Total Sales Income Excluding VAT? The formula should round your answer to zero decimal digits. (3) 5.10.Which spreadsheet formula was entered into cell H22 to determine the lowest unit cost price including VAT? (1.5)

96 EXCEL QUESTION Which spreadsheet formula was entered into cell H23 to determine the highest unit selling price excluding VAT? (1.5) [28]

97 QUESTION 5 (28 marks) EXCEL QUESTION =MID (C11,5,4) =VLOOKUP (B11,G$2:H$7,2,FALSE) $G$2, G$3, $G$3, G$4, $G$4 and $H$7 is also correct =D11&"*"&E11 OR CONCATENATE (D11, *,E11) =RIGHT (C11,2) =IF (G11="IM",B$7,B$8) OR =IF (G11="LS", B$8, B$7) $B$7 AND $B$8 is also correct. =VLOOKUP (A17,F$10:H$14,3,FALSE) $F$10, F$11 and $F$11 is also correct. =C17/(1+$B$3) OR =C17 * 1/(1+$B$3) B$3 is also correct =C17*(1+B17) or =C17+C17*B =ROUND (SUM(H17:H20),0) =MIN(C17:C20) =MAX(F17:F20) 1.5

98 EXCEL QUESTION 2

99 EXCEL QUESTION 2 You are the financial manager for GlasBot Pty Ltd, a registered VAT vendor. GlasBot manufactures a range of glass perfume bottles. GlasBot wants to invest in a new glass bottle-manufacturing machine. The production manager, Mr Mashile has short-listed four machines. He asked your help in creating a spreadsheet calculating the monthly instalment amount as well as extracting the downtime days and error margins from the given information. Mr Mashile provided you with the following information: a) The Value Added Tax (VAT) percentage is 14% (refer to cell B3). b) All the machines will be financed using the same loan finance terms: a) Interest is compounded monthly at the end of each month at an annual interest rate of 8% (refer to cell B4). b) The finance period is five (5) years (refer to cell B5) c) The purchase price including VAT for each machine (refer to range B15:B19). d) The residual value of each machine at the end of the five (5) year term (refer to range C15:C19). e) Each machine has a specific UMDG scale code. A machine s UMDG scale code will fall within a specific scale bracket (refer to cell range A7:C13), which indicates the error margin percentage (%) at which each machine operates. For example a machine with a UMDG code of 120 will fall in the scale bracket 100 to 199 and the machine will therefore have an error margin of 2.5%. f) Each machine s name (refer to range A15:A19) has a specific structure. The machine name contains the UMDG scale code as well as the downtime code

100 EXCEL QUESTION 2 (g) Each machine has either a B or a C downtime code. The downtime code indicates the number of downtime days i.e. the number of days per month a machine will not be operational due to routine maintenance. Two (2) days downtime is indicated by a B and a C downtime code will be equal to one (1) day downtime The machine name structure is as follows: M A N X C Characters 1-3: MAN Character 4: Space Character 5: X (machine configuration) Character 6: - (hyphen/dash) Characters 7-9: UMDG scale code (also refer to point e) Character 10: Downtime code (also refer to point g)

101 A B C D E F G H I 1 GlasBot Pty Ltd - New machine investigation 2 3 VAT 14% 4 Annual interest rate 8% 5 Period (years) UMDG scale 8 Error margin (%) From To % % % % % Purchase price (including VAT) Residual value after 5 years Monthly instalment (including VAT) Monthly instalment (excluding VAT) UMDG scale code Error margin (%) Downti me days Machine name Downtim e code 16 Man X-545C R 4,747,160 R 300,000 R 100, R 88, C 3.0% 1 17 Man V-339B R 6,327,420 R 0 R 128, R 112, B 2.0% 2 18 Man X-237C R 7,528,060 R 40,000 R 153, R 134, C 1.5% 1 19 Man Z-183B R 4,925,000 R 50,000 R 100, R 88, B 2.5% EXCEL QUESTION 2 Largest monthly instalment excluding VAT R 134,373.95

102 Required: EXCEL QUESTION 2 Use the information and spreadsheet provided to answer the following questions: Note: Where it is indicated that your formula will be copied to other cells, your formula must take absolute and relative addresses into account, but only where necessary! 1. Which spreadsheet formula was entered into cell D16 to calculate the monthly instalment amount including VAT for Man X-545C? The formula should return a positive answer. Note: Your formula will be copied to cells D17:D19. (4.5) 2. Which spreadsheet formula was entered into cell E16 to calculate the monthly instalment amount excluding VAT for Man X-545C? Note: Your formula will be copied to cells E17:E19. (2) 3. Which spreadsheet formula was entered into cell F16 to extract the UMDG scale code for Man X-545C from the machine name? Note: Your formula will be copied to cells F17:F19 (2.5)

103 Required cont : EXCEL QUESTION 2 4. Which spreadsheet formula was entered into cell G16 to extract the downtime code for Man X-545C from the machine name? Note: Your formula will be copied to cells G17:G19. (2) 5. Which spreadsheet formula was entered into cell H16 to obtain the error margin % for Man X-545C from the UMDG scale starting in cell A7? Note: Your formula will be copied to cells H17:H19. (4) 6. Which spreadsheet formula was entered into cell I16 to calculate the number of downtime days for Man X-545C? Note: Your formula will be copied to cells I17:I19. (3) 7. Which spreadsheet formula was entered into cell E21 to calculate the largest instalment excluding VAT for all the machines? (2) Total [20]

104 QUESTION 5 (20 marks) EXCEL QUESTION =-PMT(B$4/12,B$5*12,B16,C16,0) or 4.5 =PMT (B$4/12,B$5*12,B16,C16,0)*-1 or =PMT(B$4/12,B$5*12,-B16,-C16,0) B$4 or $B$4 is correct and B$5 or $B$5 is correct 5.2 =D16/(1+B$3) or =1/(1+B$3)*D16 B$3 or $B$3 is correct =MID(A16,7,3) =RIGHT(A16,1) =VLOOKUP(F16,A$7:C$13,3,TRUE) 4 A$7:C$13 or $A$7:$C$13 & A$8:C$13 or $A$8:$C$13 & A$9:C$13 or $A$9:$C$13 is correct 5.6 =IF(G16="B",2,1) or =IF(G16="C",1,2) 3 No mark for B or C if inverted commas were not used. No mark for 1 and 2 as these are values and not text. 5.7 =MAX(E16:E19) or =MAX(E16:E20) 2

105 EXCEL QUESTION 3

106 EXCEL QUESTION 3

107 EXCEL QUESTION 1

108 EXCEL QUESTION 3

109 EXCEL QUESTION 3

110 EXCEL QUESTION 3

111 EXCEL QUESTION 3

112 EXCEL QUESTION 3

113 REQUIRED: EXCEL QUESTION 3 Use the provided additional information and Sam s property portfolio to answer following questions. Note: Where it is indicated that your formula will be copied to other cells, your formula must take absolute and relative addresses into account, but only where necessary Which spreadsheet formula was entered into cell B22 to extract Property 1 s province code from the property code? Note: Your formula will be copied to cells C22:E22. (2.0) 6.2. Which spreadsheet formula was entered into cell B23 to retrieve Property 1 s province name from the location table? Note: Your formula will be copied to cells C23:E23. (3.5) 6.3. Which spreadsheet formula was entered into cell B24 to extract Property 1 s square meter (m2) size from the property code? Note: Your formula will be copied to cells C24:E24. (2.5) 6.4. Which spreadsheet formula was entered into cell B25 to create Property 1 s Prop-man code? Note: Your formula will be copied to cells C25:E25. (2.5) 6.5. Which spreadsheet formula was entered into cell B29 to calculate Property 1 s selling price excluding VAT? Note: Your formula will be copied to cells C29:E29. (1.5)

114 EXCEL QUESTION Which spreadsheet formula was entered into cell B30 to calculate Property 1 s deposit amount from the Deposit percentage table? Note: Your formula will be copied to cells C30:E30. (4.0) 6.7. Which spreadsheet formula was entered into cell B31 to retrieve Property 1 s transfer duty rate from the transfer duty table? Note: Your formula will be copied to cells C31:E31. (3.5) 6.8. Which spreadsheet formula was entered into cell B33 to calculate Property 1 s financed amount excluding VAT? Note: Your formula will be copied to cells C33:E33. (1.5) 6.9 Which spreadsheet formula was entered into cell B35 to calculate Property 1 s agency income? Note: Your formula will be copied to cells C35:E35. (1.5) 6.10 Which spreadsheet formula was entered into cell B39 to calculate Property 1 s monthly installment amount? The formula should return a positive answer. Note: Your formula will be copied to cells C39:E39. (5.0) 6.11 Which spreadsheet formula was entered into cell B41 to calculate Property 1 s price per square meter (m2) excluding VAT? The formula should round the answer to zero digits. Note: Your formula will be copied to cells C41:E41. (2.5) Which spreadsheet formula was entered into cell B42 to calculate the lowest price per square meter (m2) excluding VAT for the whole portfolio? (1.5) Which spreadsheet formula was entered into cell B43 to calculate average finance term in years for the whole portfolio? (1.5)

115 EXCEL QUESTION 3

116 EXCEL QUESTION 3

117 EXCEL QUESTION 4

118 EXCEL QUESTION 4 Catman is the financial consultant for the Merval Superhero Franchise, who provides an analysis on the monthly company performance. On his way to the office, Catman was involved in a Hit and Run incident and had his computer damaged in the process. He contacted you as the Excel expert in the department to assist him in providing management with the Gross Profits for each Sales product, located in an excel file on the company server. Fortunately, you locate the file and forward it to the finance manager. Within 5 minutes, the finance manager (not an excel expert) calls your office land line to ask you, how the formula was determined, as the spreadsheet that you sent only had values and no formulas included. You provided him with the following spreadsheet:

119 EXCEL QUESTION 4 You provided him with the following spreadsheet: a) There are 5 sales products that are hot sellers within the franchise. These products are identified by a specific sales code found in row 11 of the spreadsheet b) The sales volume for the current month, for each product is found in row 12 of the spreadsheet. c) The gross profit for each sales product is dependant on the sales volumes generated in the month. The gross profit for each sales product is located in row 13 of the provided spreadsheet d) The Gross profit table can be located in the following range D3:F9 on the spreadsheet Required: Use the information and spreadsheet provided to answer the following question: Note: Where it is indicated that your formula will be copied to other cells, your formula must take absolute and relative addresses into account, but only where necessary! 1) Which spreadsheet formula was entered into cell B13 to obtain the gross profit for Hulk 48 from the Gross Profit Table starting in cell D3? Note: Your formula will be copied to cells C13:F13. (4.5)

120 EXCEL QUESTION 4 =VLOOKUP(B12,$D3:$F9,3,TRUE)

121 Best Wishes for your exam!! Duwayne Kock

122