Capital Mfundo -R125,600 Current account - Mfundo R26,400 On 1 June 2023, the following transactions took place concerning the liquidation: 1. A final settlement of R201,600 was received from debtors, with the remaining balance considered a settlement discount. 2. Mfundo agreed to acquire installation equipment with a carrying amount of R52,000 for a cash value of R60,700, which was not paid immediately. 3. The leftover installation equipment was disposed of for a cash sum of R95,000. 4. The company received a settlement discount of R9,000 upon paying off all creditors' accounts. 5. All non-current loans from partners were settled in full. 6. The expenses incurred during the liquidation process totalled R62,300. Question 15 Which one of the following alternatives represents the correct amount that must be allocated to Jackie on as liquidation profit/loss of Efficient Solar Guys (SA) on 1 June 2023? a. (R 50) b. (R 150) c. (R 137,925) d. (R 15,625) e. (R 46,875) f. R 46,575 Question 16 Which one of the following alternatives represents the correct amount that must be allocated to Mfundo on as liquidation profit/loss of Efficient Solar Guys (SA) on 1 June 2023? a. (R 46,875) b. R 15,525 c. (R 50) d. (R 45,975) e. (R 15,625) f. (R 150)
Capital Mfundo -R125,600 Current account - Mfundo R26,400 On 1 June 2023, the following transactions took place concerning the liquidation: 1. A final settlement of R201,600 was received from debtors, with the remaining balance considered a settlement discount. 2. Mfundo agreed to acquire installation equipment with a carrying amount of R52,000 for a cash value of R60,700, which was not paid immediately. 3. The leftover installation equipment was disposed of for a cash sum of R95,000. 4. The company received a settlement discount of R9,000 upon paying off all creditors' accounts. 5. All non-current loans from partners were settled in full. 6. The expenses incurred during the liquidation process totalled R62,300. Question 15 Which one of the following alternatives represents the correct amount that must be allocated to Jackie on as liquidation profit/loss of Efficient Solar Guys (SA) on 1 June 2023? a. (R 50) b. (R 150) c. (R 137,925) d. (R 15,625) e. (R 46,875) f. R 46,575 Question 16 Which one of the following alternatives represents the correct amount that must be allocated to Mfundo on as liquidation profit/loss of Efficient Solar Guys (SA) on 1 June 2023? a. (R 46,875) b. R 15,525 c. (R 50) d. (R 45,975) e. (R 15,625) f. (R 150)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Capital
Mfundo -R125,600 Current account - Mfundo R26,400 On 1 June
2023, the following transactions took place concerning the liquidation:
1. A final settlement of R201,600 was received from debtors, with the
remaining balance considered a settlement discount.
2. Mfundo agreed to acquire installation equipment with a carrying amount
of R52,000 for a cash value of R60,700, which was not paid immediately.
3. The leftover installation equipment was disposed of for a cash sum of
R95,000.
4. The company received a settlement discount of R9,000 upon paying off
all creditors' accounts.
5. All non-current loans from partners were settled in full.
6. The expenses incurred during the liquidation process totalled R62,300.
Question 15
Which one of the following alternatives represents the correct amount that
must be allocated to Jackie on as liquidation profit/loss of Efficient Solar
Guys (SA) on 1 June 2023?
a. (R 50)
b. (R 150)
c. (R 137,925)
d. (R 15,625)
e. (R 46,875)
f. R 46,575
Question 16
Which one of the following alternatives represents the correct amount that
must be allocated to Mfundo on as liquidation profit/loss of Efficient Solar
Guys (SA) on 1 June 2023?
a. (R 46,875)
b. R 15,525
c. (R 50) d. (R 45,975)
e. (R 15,625)
f. (R 150)
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