DPA202T/201/2/2011

DEPARTMENT OF MANAGEMENT ACCOUNTING PRACTICAL ACCOUNTING DATA PROCESSING DPA202T

Tutorial letter 201/2011

ASSIGNMENT 01 & 02 - SUGGESTED SOLUTION

Dear Student Attached please find the suggested solutions for assignment 01 & 02. Please compare your answer with these solutions and adapt them accordingly where necessary. Note: Assignment 02 will count 90% towards your year mark (which is 25% of your final mark.) All the best with your studies! Do not hesitate to contact us should you experience any problems. Yours faithfully Lecturers:
Ms. GM Viviers (Gerda) AJH van der Walt 1-69 Tel nr: (012) 429 3914 Cel nr: 072 683 6482 Fax nr: 086 532 5869 Mr. DJP Scott (Dawid) AJH van der Walt 1-68 Tel nr: (012) 429 4374 Cel nr: 072 683 6482 Fax nr: 086 669 7371 Ms. C Leonard (Christi) AJH van der Walt 1-70 Tel nr: (012) 429 4025 Cel nr: 072 683 6482 Fax nr: 086 541 4855 Ms PQ Mabika (Penina) AJH van der Walt 1-59 Tel nr: (012) 429 4334 Cel nr: 072 683 6482 Fax nr: 086 759 3532

E-mail: Second semester: ANNEXURE 1: ANNEXURE 2:

DPA202T-11-S2@unisa.ac.za ASSIGNMENT 01/2011 - SUGGESTED SOLUTION ASSIGNMENT 02/2011 - SUGGESTED SOLUTION

ANNEXURE 1:

ASSIGNMENT 01/2011 - SUGGESTED SOLUTION

All the answers have a reference to specific pages in the prescribed text book (ISBE 4th edition). The assignments and examination are based on the textbook Wessels, P., Grobbelaar, E., McGee, A. and Prinsloo, G.T.M. 2007. Information Systems in a Business Environment. 4th Edition. Durban: LexisNexis Butterworths. ISBN 9780409100501. As only the fifth edition is available in bookshops LexisNexis has kindly given permission that the applicable chapters needed for DPA202T can be published on the DPA202T myUnisa site under Additional resources. Please note as these chapters are copyright protected you are only allowed to use it for this module and only for your own study purposes. You may not reproduce or transmit this material in any form or by any means to any other student, persons or organisations. QUESTION 1 (10 marks) Question
1.1 1.2

Answer Reference in ISBE

(4) (3) par. 3.2.5 par. 3.3.1.5

Comment

You need to understand the impact of the different processing methods as well. Batch processing will only provide up to date information after the batch have been updated. The information is therefore not up to date all the time. It is only up to date after the updating of batches.

1.3 1.4 1.5

(1) (3) (2)

par. 5.6.8.5 par. 3.3.1.6 par. 3.2.4.2 Remember that the database administrator do not capture the transactions himself. He can therefore not ensure the accurate capture of data.

1.6 1.7 1.8 1.9 1.10

(2) (1) (4) (2) (1)

par. 5.5.2 par. 5.7.1.3 par. 6.3.2.4.4 par. 6.3.2.2.4 par. 6.3.3.3 You have to think. Pastel is your accounting knowledge in practice. You know from your accounting studies that the income statement totals at year end get taken to retained income and not at month end. Most of the same principals apply to month end and year end i.e. the making of back-ups, the update of all open batches and the fact that you can still make adjustments to the previous financial period. (the financial period is not the previous financial year it is the previous month)

TOTAL

[10]

DPA202T/201/2/2011

ANNEXURE 2: ASSIGNMENT 02/2011 - SUGGESTED SOLUTION QUESTION 1 (70 marks)

General marking rules: 0% for the whole assignment if your student number does not appear on all the printouts e.g. Shimlas 12345678; -5% if the printouts were not in the correct number order.

5.8 Inventory groups listing (2 marks)

6.3 Customer account (master) listing (3 marks)

4 7.2 Supplier account (master) listing (1 mark) 8.3 Item based price list (1 mark)

Unique details required for;

Addresses Telephone numbers Fax numbers Email addresses Tax reference numbers

E-mail address

5
8.4 Preferred supplier listing (1 mark) 10.2 Customer detail ledger: period 1 to 12 of 2011 (1 marks)

DPA202T/201

9.3 General journal without contras (take on journal) (3 marks)

Capitec Bank & Petty cash could also have been debited against an extra 9990/005 account.

10.3 Customer age analysis: period 1 of 2012 (1 mark)

11.2 Supplier detail ledger: period 1 to 12 of 2011 (4 mark)

DPA202T/201/2/2011

11.3 Supplier age analysis: period 1 of 2012 (1 mark)

13.4 Bank reconciliation: period 12 of 2011 (2 marks)

14.1 Trial balance: 1 May 2010 to 30 April 2011 (1 mark) 12.2 Inventory reorder report: period 1 of 2012 (3 marks)

1 mark if no amounts are left in the take-on suspense accounts i.e. 9990/001; 9990/002; 9990/003; 9990/004

8 15.3 Receipt cashbook batch (1 mark) 15.6 Sales quotation Mega Cell (2 marks)

15.4 Payment cashbook batch (1 mark)

9
15.7 Tax invoice Cell corner (2 marks) 15.9 Purchase order Battery World (2 mark)

DPA202T/201

10 15.12 Tax invoice Ms Mzizi Legodi (2 marks) 15.22 Supplier invoice summary listing (1 mark)

15.23 Tax invoice summary listing - Stacey (1 mark)

11
15.25 Sales return Cell Corner (3 marks) 15.26 Tax invoice Mega Cell (2 mark)

DPA202T/201

Any appropriate wording for the remark acceptable provided it is relevant. 0 marks for this document if it is not a credit note!

12 15.27 Sales order Mega Cell (1 mark) 15.30 Goods received note Bling Shop (1 mark)

13

DPA202T/201/2/2011

15.31 Supplier invoice Bling shop (2 marks)

15.33 Outstanding orders Details by Supplier report (2 marks)

15.34 Back orders Details by Customer report (2 marks)

14 15.36 Detailed ledger Petty cash account (2 marks) 17.1 Open item customer statement Cell Corner (1 mark)

16.3 Bank reconciliation May 2011 (2 marks)

The 1 mark for R0.00 difference is only awarded if the bank statement amount is correct

1 mark for correct printout open item statement

15
17.2 Balance forward customer statement Mega Cell (1 mark) 17.3 Customer age analysis: period 1 of 2012 (1 mark)

DPA202T/201

1 mark for correct printout balance forward statement

1 mark for correct printout full detail customer age analysis

16 17.4 Supplier age analysis: period 1 of 2012 (1 mark) 17.5 Cash book details Capitec: period 1 of 2012 (2 marks)

1 mark for correct printout full detail supplier age analysis

1 mark for correct printout full cash book details for Capitec account, including opening balance

17
17.6 Detailed general ledger for 2200/000 (2 marks) 17.7 Tax type report: period 1 of 2012 (1 mark)

DPA202T/201

1 mark for correct printout General Ledger for 2200/000 only

18 17.8 Trial balance: 1 May 2011 to 30 April 2012 (2 marks) 17.9 Income statement: period 1 of 2012 (2 marks)

19
17.10 Balance sheet: period 1 of 2012 (2 marks) 17.11 Cash movement report: period 1 of 2012 (2 marks)

DPA202T/201

QUESTION 2 (30 marks) Task 1.19 Formatting (3 marks) A B 1 2 3 Customer 4 Customer name
code

20

Shimlas Cellphone Shop Customer Age Analysis 30-Apr-2011 90 days 18,438 5,670 3,441 2,057 10,857 8,907 27,549 39,813 72,125 152,294 19,586 52,538 25,047 127,246 60 days 17,992 30 days Current Total 36,430 5,670 3,441 46,691 190,642 8,907 291,780 Total due excluding VAT 31,956 4,974 3,018 40,957 167,229 7,813 255,948

5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22

RAV492 - Ms Refilwe Ravat EUG701 - Eugene's Cell Corner RIR100 - Ring-ring Cellular Shop CEL220 - Cell Corner MEG800 - Mega Cell KEN506 - Kenako Traders TOTAL (Student nr 12345678) Provision rate as per policy Bad debt provision Total audited bad debt provision Total bad debt provision - 8050/000 Difference Within threshold?

RAV492 EUG701 RIR100 CEL220 MEG800 KEN506

10% 2,755

5% 1,991

0% 0

0% 0

4,746 3,000 1,746 NO

~Range C14:F14 : 1 mark - Top and thick bottom border ~Range A5:H11 : 1 mark - Sorted based on 90 days, largest to smallest ~Range A4:H4 : 1 mark Bold, wrap text, horisontally and vertically centered, thick box border [3]

21 Task 1.22 Formulas (8 Marks)

A 1 2 3 4 5 6 B C D Shimlas Cellphone Shop Customer Age Analysis 30-Apr-2011 E F G

DPA202T/201

Customer name
RAV492 - Ms Refilwe Ravat EUG701 Eugene's Cell Corner RIR100 - Ring-ring Cellular Shop CEL220 - Cell Corner MEG800 - Mega Cell KEN506 - Kenako Traders TOTAL (Student nr 12345678) Provision rate as per policy Bad debt provision Total audited bad debt provision Total bad debt provision 8050/000 Difference

Customer code
=LEFT(A5,6)

90 days
18438.18

60 days
17991.7

30 days

Current

Total
=SUM(C5:F5)

Total due excluding VAT

=1/1.14*G5

=LEFT(A6,6) =LEFT(A7,6) =LEFT(A8,6) =LEFT(A9,6) =LEFT(A10,6)

5670 3441 2057.03 10857.33 8907 =SUM(C5:C10) =SUM(D5:D10) 19586.42 52538.11 =SUM(E5:E10) 25047.48 127246.18 =SUM(F5:F10)

=SUM(C6:F6) =SUM(C7:F7) =SUM(C8:F8) =SUM(C9:F9) =SUM(C10:F10) =SUM(G5:G10)

=1/1.14*G6 =1/1.14*G7 =1/1.14*G8 =1/1.14*G9 =1/1.14*G10 =SUM(H5:H10)

7 8 9 10 11 12 13 14 15 16

=0.1 =C11*C13 =SUM(C14:F14)

=0.05 =D11*D13

0 =E11*E13

0 =F11*F13

17

18 19 20

3000 =C16-C17
=IF(C18>=500,NO, YES)

Within threshold?

~Cell H5: 2 marks for 1/1.14*G5 OR G5/1.14 ~Cell B5: 1 mark for LEFT 1 mark for A5 1 mark for 6 ~Cell C20: 3 marks for =IF^(C18^>=^500^,NO^,YES^) OR=IF^(C18^<^500^,YES^,NO^) [8]

Task 1.52 Formatting (2 Marks) A B C D E F G H 23 Customer Age Analysis for all Monthly Customers as at 31/05/2011 24 Customer code (Student nr 1234 TOTAL DUE IN TOTAL DUE IN 56789) 120+ Days 90 Days 60 Days 30 Days Current MAY 2011 APRIL 2011 25 CEL220 0 0 0 6,691 56,379 63,070 46,691 26 MEG800 0 0 0 0 113,450 113,450 190,642 27 RAV492 18,438 17,992 0 0 0 36,430 36,430 28 AIN260 0 0 0 0 52,391 52,391 0 29 EUG701 5,670 0 0 0 0 5,670 5,670 30 RIR100 3,441 0 0 0 0 3,441 3,441 31 KEN506 0 8,907 0 0 0 8,907 8,907 32 TOTALS 27,549 26,899 0 6,691 222,220 283,359 291,780

22

~Range H25:H32: 1 mark number format, 0 decimals, 1000 separator ~Range A23:G23: 1 mark bold, italic, merged [2]

23 Task 1.55 Formulas (4 Marks)

A 23 24 B C D E F G H

DPA202T/201

25 26 27 28 29 30 31 32

Customer Age Analysis for all Monthly Customers as at 31/05/2011 Customer code (Student nr 123456789) 120+ Days 90 Days 60 Days 30 Days CEL220 0 0 0 6691 MEG800 0 0 0 0 RAV492 18438 17992 0 0 AIN260 0 0 0 0 EUG701 5670 0 0 0 RIR100 3441 0 0 0 KEN506 0 8907 0 0 =SUM =SUM =SUM =SUM (B25:B31) (C25:C31) (D25:D31) (E25:E31) TOTALS

Current 56379 113450 0 52391 0 0 0 =SUM (F25:F31)

TOTAL DUE IN MAY 2011 =SUM(B25:F25) =SUM(B26:F26) =SUM(B27:F27) =SUM(B28:F28) =SUM(B29:F29) =SUM(B30:F30) =SUM(B31:F31) =SUM(G25:G31)

TOTAL DUE IN APRIL 2011 =VLOOKUP(A25,B$5:G$10,6,FALSE) =VLOOKUP(A26,B$5:G$10,6,FALSE) =VLOOKUP(A27,B$5:G$10,6,FALSE) 0 =VLOOKUP(A29,B$5:G$10,6,FALSE) =VLOOKUP(A30,B$5:G$10,6,FALSE) =VLOOKUP(A31,B$5:G$10,6,FALSE) =SUM(H25:H31)

~Cell H25: 1 mark for A25 1 mark for $B$5:$G$10 OR B$5:G$10 1 bonus point if only rows are absolute i.e. B$5:G$10 1 mark for 6 1 mark for FALSE [4]

Task 1.61 Line graph (3 Marks)

24

~1 mark if printed on full page ~1 mark for headings/data legend on the right ~1 mark for 2D line graph [3]

25 Task 2.12 Formatting (3 Marks) A B C D 1 Finance options repayment schedule per month (Student number 123456789) Account-number: 2
87659054334

DPA202T/201

3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

Conditions set by Shimla Maximum interest

40,000

Loan term (years)

5 Interest rate per year 13.45% 10.50% 9.50% 11.50% R 54,557.62 R 37,537.70 R 44,980.37 Total amount to be paid over 5 year loan term R 204,540.00 R 191,760.00 R 187,560.00 R 196,080.00 Interest component R 54,557.62 R 41,765.59 R 37,537.70 R 46,060.57 Will buy/Will not buy will not buy will not buy will buy will not buy

Bank Wesbank Investec ABSA FNB Highest interest Lowest interest Average interest

Monthly payment R 3,409.00 R 3,196.00 R 3,126.00 R 3,268.00

Cash price R 149,982.38 R 149,994.41 R 150,022.30 R 150,019.43

~Range B11:B14 : 1 mark for percentage style, 2 decimals ~Range A10:G10 : 1 mark for bold, wrap text, horisontally and vertically centered, outside border ~Whole spreadsheet: 1 mark for Calibri, 11 [3]

Task 2.15 Formulas (7 Marks) A B C D 1 Finance options repayment schedule per month (Student number 123456789) 2 Account number:
87659054334

26

3 4 5 6 7 8 9 10 11

Conditions set by Shimla Maximum interest

40000

Loan term (years)

5 Interest rate per year 0.1345 0.105 0.095 0.115 =MAX(F11:F14) =MIN(F11:F14) =AVERAGE(F11: F14) Monthly payment 3409 3196 3126 3268 Total amount to be paid over 5 year loan term =C11*B$8*12 =C12*B$8*12 =C13*B$8*12 =C14*B$8*12 Interest componen t =E11-D11 =E12-D12 =E13-D13 =E14-D14

Bank

Cash price

Will buy/Will not buy =IF(F11>=B$5,"will not buy","will buy") =IF(F12>=B$5,"will not buy","will buy") =IF(F13>=B$5,"will not buy","will buy") =IF(F14>=B$5,"will not buy","will buy")

Wesbank

=-PV(B11/12,B$8*12,C11,0,1) =-PV(B12/12,B$8*12,C12,0,1) =-PV(B13/12,B$8*12,C13,0,1) =-PV(B14/12,B$8*12,C14,0,1)

12
Investec

13
ABSA

14
FNB

15 16 17 18

Highest interest Lowest interest Average interest

~Cell D11: 5 marks for =-^PV^(B11^/12^,B$8a*12^,C11^,0^,1^) OR=-^PV^(B11^/12^,$B$8a*12^,C11^,0^,1^) ~Cell E11: ^ mark for C11 ^ mark for 12 1 mark for B$8 OR $B$8 [7]