Question 1

Use the table above to answer the following questions:

1.1.1 Determine the total number of guests they plan to invite to their wedding
reception. (2)

1.1.2 Show how the catering cost was determined if the cost per person is R225,OO.
(2)

1.1.3 Express the total reception cost as a percentage of the total budgeted amount.
(2)

1.1.4 Calculate the cost of the flowers and decorations if it is 1,8% of the total budgeted
amount. (2)

1.1.5 Ami’s father, who lives in Ghana, offers to contribute 30 000 Ghanaian cedi towards
the wedding reception costs.

Determine the amount in rand that Ulwazi and Ami will have to contribute to the
reception costs to meet the overall budgeted amount. (4)

1.1.6 Ulwazi’s father offered to pay for Ami’s wedding ring, which costs RI 349,
excluding VAT.

Calculate the selling price (rounded off to the nearest cedi) of Ami’s wedding ring,
including VAT. (5)

1.1.7 Identify ONE expense, other than flowers and d├ęcor, that could be included in the
budget and briefly explain this expense. (2)

1.2 Ulwazi received his employee tax certificate (IRP5) (ANNEXURE A) for the financial year ending
28 February 2013. Some of the information has been omitted.

Use ANNEXURE A to answer the following questions.

1.2.1 Briefly explain the difference between an employee and an employer. (2)

I .2.2 What does the abbreviation UIF stand for?

1.2.3 Write down the taxable amount that Ulwazi received as an annual payment.
(2)

1.2.4 Did Ulwazi receive a non-taxable reimbursive travel allowance?

Give a valid reason for your answer. (2)

1.2.5 Calculate the average monthly medical scheme fees tax credit. (2)

1.2.6 Calculate the missing amount A. (2)

1.2.7 Indicate how the gross non-retirement funding income was calculated. (2)

1.2.8 From I March 2012 to 31 July 2012 Ulwazi contributed a total of R4 975,25 to his pension fund.

Determine the average monthly contribution for the remainder of the financial year. (5)

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