1.1

The date is July, 2, 2008

1.2

Number of statement is 712.

1.3

This amount shows that there is a deficiency in funds. The account is overdrawn.

Mr Nobody borrows money from the bank. There is a Debit balance.

1.4

Balance A = R(8,120.85 + 18,550.00) = R10.429.15

Balance B = R(10,429.15 - 780.00) = R9,649.15

Balance A has a positive sign because Mr. Nobody's salary is more thatn the "borrowed"

money. Balance B is also positive because there is Credit Balance.

1.5

Debit entries have negative signs because money is withdrawn from the Bank and thus

the Balance will become smaller.

1.6

Insurance expenses = R(780.00 + 1,248.50) = R2,028.50

1.7

Telephone expenses = R(359.48 + 345.28) = R704.76

1.8

Balance C on 06.04 = R522.97 - R880.45 = R357.48-

Once again there is a Debit Balance.

1.9

Total for shopping at Bestbuy Shop = R(1,256.85 + 1,378.84) = R2,635.69

1.10

Balance D on 05.15 = R3,823.34- + 4,000.00 = R176.66

There is a Credit Balance on 05.15. The Debit Balance has been cancelled.

1.11

Balance = R3,361.60- + (99.00-) = R3,460.60-

13.4

1.12

Interest = R3,460.60 x ———— = R38.93

100 x 12

1.13

Closing Balance = R3,460.60- - 38.93 = R3,466.53-

2.1

The physical address is: 14 Meandering Street, Ourtown 01248

2.2

Date: 29/09/2000

2.3

The amount "Payment received" is paid into the account and therefore has to be deducted

from the account.

2.4

The volume used = 32253 - 32106 = 147 kl

Amount payable = R(6 x 0 + 44 x 0.85 + (147 - 50) x 1.25) = R158.65

VAT = R158.65 X 14% = R158.65 x 0.14 = R22.21

Total payable = R158.65 + 22.21 = R180.86

2.5

Electricity used = 105982 - 105048 = 943 kWh or units

2.6

VAT on Sewage = R161.70 x 14% = R161.70 x 0.14 = R22.64

1870

2.7

Monthly rates = R——— = R155.83

12

2.8

Total amount payable = R1,705.83

2.9

Last date for payment is 14/10/2000

15

2.10

Interest = R 1705.83 x ——— = R21.32

100 x 12

3.1

Overtime 1.5 tariff = R85.00 x 1.5 = R127.50

Overtime 1.5 wages = R12 x 85.00 = R1,530.00

3.2

Overtime 2 tariff = R85.00 x 2 = R170.00

1105.00

Number of hours on Overtime 2 = ———— = 6.5

170

3.3

Gross monthly income = R(14,316.00 + 1,530.00 + 1,105.00) = R16,951.00

3.4

UIF = R1% of 16,951.00 = R0.01 x 16951.00 = R169.51

214.74

100

3.5

Percentage of Pension deduction = ————— x
—— % = 1.5%

14316.00

1

3.6

Annual gross income = R16,951.00 x 12 = R203,412.00

Tax = R40210 + (203412 - 195000) x 0.3 = R42,733.60

Deduct primary rebate = R8,280.00

Tax payable = R34,453.60

Monthly deduction = R2,871.13

3.7

Net salary = R16,951.00 - 5,960.28 = R10,990.72

4.1

UIF = R1% of 9,250.00 = R9250.00 x 0.01 = R92.50

231.25

100

4.2

Percentage of Pension deduction = ————— x
—— % = 2.5%

9250.00

1

4.3

Annual income = R9,250.00 x 12 = R111,000.00

4.4

Income tax = R111,000.00 x 0.18 = R19,980.00

Deduct primary rebate = R8,280.00

Tax payable = R11,700.00

Monthly deduction = R975.00

4.5

Net salary = R9,250.00 - 1,298.75 = R7,951.25

5.1

Tax = R62710 + (360000 - 270000) x 0.35 = R94,210.00

Deduct primary rebate = R8,280.00

Tax payable = R85,930.00

Monthly deduction = R7,160.83

5.2

Tax payable = tax + primary rebate = R4,567.00 + 8,280.00 = R12,847.00

Tax payable = Income x 18% = Income x 0.18

12847

Income = ——— = R71,372.22

0.18

5.3

Income for 10 months = R14,602.00 x 10 = R146,020.00

Income for 2 months = R16,200.00 x 2 = R32,400.00

Total income = R178,420.00

Tax = R21,960.00 + (178,420 - 122,000)X 25% = R36,065.00

Deduct primary rebate R8,280.00

Total income tax payable = R27,785.00

Monthly dediction = R2,315.42

5.4

William's annual income = R15,340.00 x 12 = R184,080.00

Tax = R21,960.00 + (184,080 - 122,000) x 25% = R37,480.00

Deduct primary rebate R8,280.00

Tax payable = R29,200.00
** OR ** Monthly deduction = R2,433.33

Total deducted = R2,600.00 x 12
He paid R2,600 - 2,433.33 in excess per month

= R31,200.00
i.e. R166.67

He paid in excess.

He receives R31,200.00 - 29,200.00 He receives R166.67 x 12

i.e. R2,000.00
i.e. R2000.0

6.1

6.2

Cashier's name is Naomi Fields

Number of items bought = 23

6.3

Date of purchases is 14/06/25 or 2014/06/25

6.4

Volume of carry bags is 24 l

6.5

Items marked with an # are items that are exempted from VAT, i.e. no VAT is charged on

these items.

6.6

0.75 kg of carrots cost R11.45 ** OR **

0.75 kg of carrots cost R11.45

1

11.45

cost

11.45

c

11.45

1 kg of carrots cost R ——— X ———

——— :

——— = — : c =

——

0.75

1

mass

0.75

1

0.75

i.e. R15.27

c = R15.27

6.7

R36.00 / kg : 0.96 kg therefore costs R36.00 x 0.96 = R34.56

The cost of the peaches is correct

6.8

6 eggs cost R9.99 ** OR **

18 eggs cost R29.99

29.99

6

18 eggs cost R9.99 x 3

6 eggs cost R——— X

——

1

18

i.e. R29.97

i.e. R9.9966

3 cartons of 6 eggs each is thus cheaper than 1 carton of 18 eggs.

18 eggs cost R29.99

9.99

1

29.99

1

1 egg costs R——— X —

1 egg costs R——— X —

1

6

1

18

i.e. R1.665

i.e. R1.66611

18 eggs cost R1.665 x 18

6 eggs cost R1.66611 x 6

i.e. R29.97

i.e. R9.9966 or R10.00

The carton of 6 eggs is therefore slightly cheaper than the carton containing 18 eggs

6.9

10 children will drink 10 x 150 ml, i.e. 1500 ml or then 1,5 litres

6 x 250 ml = 1,5 litres and it costs R22,49

2 1 litre cartons cost R29.98 and thus 1,5 litres will cost R22,49 but 500 ml will be unused

It is cheaper to buy the pack containing 6 x 250 ml each.

6.10

The total of the items that are not exempted from VAT is R146.60 and this amount also

Thus, cost + VAT = R146.60 or c + 0.14c = 146.60

1.14c = 146.60

c = 128.60

The cost of the items before VAT is added is R128.60