Sakrekenaars/Calculators: Ja/Yes

Benodigdhede vir hierdie vraestel/Requirements for this paper: Ander hulpmiddels/Other resources:
Antwoordskrifte/ Multikeusekaarte (A5)/ LAPTOPS & access to eFundi
x
Answer scripts: Multi-choice cards (A5):

Presensiestrokies (Invulvraestel)/ Multikeusekaarte (A4)/

Attendance slips (Fill-in paper): Multi-choice cards (A4):

Rofwerkpapier/ Grafiekpapier/
Scrap paper: Graph paper:

Tipe assessering/ Kwalifikasie/ B.Ing

Type of assessment: Klasstoets/Class Test 1 Qualification:
Modulekode/ INGB 311 Tydsduur/ 72 minute/minutes
Module code: Duration:
Modulebeskrywing/ Ingenieursekonomie /Engineering Economics Maks/ 40
Module description: Max:
Eksaminator(e)/ Prof S van Rooyen Datum/ 11/03/2019
Examiner(s): Mr I Short Date:
Mr A Burger
Tyd/ 14:30
Time:

Inhandiging van antwoordskrifte/Submission of answer scripts: Gewoon/Ordinary

Examination instructions / Eksamenvoorskrifte

1. Students are allowed into the venue in the first half hour of a session, but no 1. Studente mag in die eerste halfuur van 'n sessie tot die lokaal toegelaat
extra time is granted. word, maar geen ekstra tyd word toegestaan nie.
2. No student is allowed to leave the venue before half an hour of the 2. Geen student word toegelaat om die lokaal te verlaat binne die eerste
examination session has elapsed. halfuur van 'n eksamensessie nie.
3. Students bring bags to the venue at own risk, and must put them in front of 3. Studente bring sakke na lokaal op eie risiko, en moet dit voor in die lokaal
the room. neersit.
4. Students may not have cell phones/electronic devices with them and/or 4. Studente mag nie selfone/elektroniese toestelle by hulle hê en/of hanteer
handle them. nie.
5. No refreshments are allowed in the examination venue. 5. Geen verversings word in 'n eksamenlokaal toegelaat nie.
6. Students may not leave the room for a smoke break. 6. Studente mag nie die lokaal verlaat om te gaan rook nie.
7. Write on both sides of each page (where applicable). 7. Skryf op beide kante van die bladsye.
8. Write in black or blue ink only (where applicable). 8. Skryf slegs in swart of blou ink.
9. No pages may be removed from the answer scripts (where applicable). 9. Geen bladsye mag uit die antwoordskrif verwyder word nie.
10. Students may not have unauthorised material with them during a session, 10. Studente mag nie ontoelaatbare materiaal by hulle hê tydens 'n sessie nie,
e.g. notes and/or objects that contain notes. bv. notas en/of objekte wat notas bevat nie.
11. No items may be borrowed during the session. 11. Geen items mag tydens die sessie geleen word nie.
12. Students may not attempt to assist another student, or attempt to obtain 12. Studente mag nie 'n ander student probeer help of probeer om hulp te kry
assistance. nie.
13. Students must hand in their answer scrips to invigilators before they leave 13. Studente moet hul antwoordskrifte aan toesighouers oorhandig voordat
the venue. (where applicable) hulle die lokaal verlaat.
14. The attendance slip on the back cover that also serves as an undertaking, 14. Die presensiestrokie op die agterblad, wat ook as onderneming geld, moet
must be completed and handed in. voltooi en ingegee word.
15. Electronic answer book must be saved in the exact format as 15. Elektroniese antwoord boeke moet presies in die voorgeskrewe
instructed INGB311(2019)CT1 [student name and student number] formaat gestoor word.
16. There will be only one submission made. BE SURE to continually 16. Daar sal slegs een indiening van antwoorde wees. MAAK SEKER dat jy
saving you work. Ensure you upload the correct version of the deurlopend die werk stoor. Maak seker jy laai die korrekte weergawe
electronic answer book. van die elektroniese antwoordboek op.

INGB 311Klastoets/Class Test #1 1/4

VRAAG 1 [25 PUNTE]

Beantwoord al die vrae.

1.1. Jy leen vandag R10,000 van ‘n finansiële instelling. Jy moet R 18,380 terugbetaal aan die einde
van nege jaar. Wat is die rentekoers (jaarliks saamgestel) waarteen die rente gehef word? (2)

1.2. Jy het ʼn woonstel gekoop vir R550,000. ABSA Bank is bereid om aan jou ʼn 20 jaar verband toe
staan teen ʼn nominale rentekoers van 12% per jaar, maandeliks saamgestel. Verbandbetalings
word maandeliks vooruit gemaak. Bereken jou maandelikse terugbetalings. (2)

1.3. Jy het ingeskryf vir ʼn drie-jaar graadkursus; jy leen R25,600 vanaf FNB vir hierdie studies aan
die begin van elke jaar. FNB hef ʼn rentekoers van 8% per jaar op hierdie lening, maandeliks
saamgestel. Indien geen tergbetalings gemaak tydens die drie-jaar periode nie, hoeveel gaan jy
die bank skuld aan die einde van jou derde jaar? (2)

1.4. ʼn Kollega van jou benodig R500,000 5 jaar van vandag of om sy huweliksmaat te bederf met ʼn
reis na die Karibiese eilande. Jy reken die beste sal wees as hy gelyke jaarlikse betalings maak
in ʼn belegging by Standard Bank wat ʼn rentekoers bied van 10%, kwartaalliks saamgestel. Die
eerste betaling word aan die begin van die eerste jaar gemaak.
Verlang:
a) Bereken die bedrag wat hy kwartaalliks moet belê om die doel te bereik. (3)
b) Indien hy ʼn enkel bedrag vandag sou belê, hoeveel moet die bedrag wees om sy doel te
bereik? (1)
1.5. U het onlangs geld vanuit die boedel van ʼn verlangse familielid, Tannie Maria geërf. Die
voorwaardes van die testament bepaal dat jy R200,000 aan die einde van Jaar 3 en R100,000
aan die einde van Jaar 4 sal ontvang (opsie #1). Jy het egter die opsies om eerder hierdie
toevalling as volg te ontvang:
• R320,000 aan die einde van Jaar 5 te ontvang, met geen betalings vooraf nie (opsie #2); of
• geen betaling in jaar 5 nie, maar R180,000 in beide Jaar 3 en Jaar 7 (opsie #3).
Indien jy geld kan belê by Investec teen ʼn rentekoers van 10%, jaarliks saamgestel, watter van
die drie opsies is die voordeligste? (9)
1.6. Jy moet ʼn rekenaar stelsel vir jou besigheid aankoop. Die kontantprys van die rekenaar is
R220,000. Die afbetalingsverkoopsooreenkoms met Nedbank die finansieringsbank is as volg:
• Die lening word verskaf met ingang van 1 April 2019 en jou laaste betaling is op
31 Maart 2024.
• Finansieringskoste is gekoppel aan die prima bankkoers wat tans 11% beloop. Nedbank hef
ʼn rentekoers van 1% meer as die prima bankkoers op die lening, maandeliks saamgestel.
• Betalings word maandeliks aan die einde van elke maand maak.
Verlang
a) Bereken die gelyke maandelikse paaiemente om vir die rekenaarstelsel te betaal oor die vyf-
jaar leningstydperk. (3)
b) Bereken die uitstaande balans van die lening op 31 Maart 2020. (3)

INGB 311Klastoets/Class Test #1 2/4

VRAAG 2 [15 PUNTE]

U is van die volgende uittreksels uit die geouditeerde finansiële state van Jumbo Beperk voorsien:

JUMBO BEPERK
STAAT VAN FINANSIëLE POSISIE
OP 28 FEBRUARIE 2019
2019 2018
BATES R R
Nie-bedryfsbates 6 024 901 6 117 560
Eiendom, aanleg en toerusting 5 654 901 5 791 560
Belegging in filiaal 111 000 111 000
Ander beleggings 259 000 215 000
Bedryfsbates 1 182 210 824 500
Voorraad 885 000 660 000
Lenings aan direkteure en personeel 16 650 24 000
Handels- en ander bedrae ontvangbaar 280 560 140 500
Totale bates 7 207 111 6 942 060

EKWITEIT EN LASTE
Ekwiteit toeskryfbaar aan die eienaars 5 010 969 4 296 066
Aandelekapitaal 2 823 100 2 823 100
Behoue verdienste 1 598 433 883 530
Ander reserwes 589 436 589 436
Nie-bedryfslaste 1 518 000 1 978 900
Langtermynlening 1 518 000 1 978 900
Bedryfslaste 678 142 667 094
Handels- en ander bedrae betaalbaar 192 400 182 789
Huidige gedeelte van langtermynlaste 87 000 87 000
Inkomstebelasting betaalbaar 12 092 7 890
Dividende betaalbaar 146 150 136 000
Oortrokke bank 240 500 253 415
Totale ekwiteit en laste 7 207 111 6 942 060

INGB 311Klastoets/Class Test #1 3/4

JUMBO BEPERK
STAAT VAN OMVATTENDE INKOMSTE
VIR DIE JAAR GEëINDIG 28 FEBRUARIE 2019 2019 2018
R R
Verkope (inkomste) 16 650 000 14 850 000
Koste van verkope (9 990 000) (8 564 500)
Bruto wins 6 660 000 6 285 500
Ander inkomste 59 385 45 500
Uitgawes (4 933 005) (4 394 200)
Distribusie uitgawes (99 160) (96 700)
Administrasie uitgawes (1 666 922) (1 540 000)
Waardevermindering (889 018) (778 900)
Ander uitgawes (2 277 905) (1 978 600)
Wins voor finansieringskoste 1 786 381 1 936 800
Finansieringskoste (573 630) (608 970)
Wins voor belasting 1 212 751 1 327 830
Inkomstebelasting 351 698 385 071
Wins vir die jaar 861 053 942 759

JUMBO BEPERK
STAAT VAN VERANDERINGE IN EKWITEIT VIR DIE JAAR GEëINDIG 28 FEBRUARIE 2019

2019 2018
Behoue inkomste Behoue inkomste
R R
Saldo aan die begin van die jaar 883 530 86 921
Totale omvattende inkomste vir die jaar 861 053 942 759
Dividende
- voorkeur (29 600) (29 600)
- gewone (116 550) (116 550)
Saldo op jaareinde 1 598 433 883 530

JUMBO BEPERK
AANTEKENINGE BY DIE FINANSIëLE STATE
VIR DIE JAAR GEëINDIG 28 FEBRUARIE 2019
5 AANDELEKAPITAAL
Gemagtig 2019 2018
1 400 000 Gewone sonder pari waarde aandele
500 000 8% Voorkeuraandele van R1 elk
Uitgereik 2 823 100 2 823 100
1 260 000 Gewone sonder pari waarde aandele
- Verklaarde kapitaal 2 453 100 2 453 100
200 000 8% Voorkeuraandele van R1 elk 370 000 370 000

INGB 311Klastoets/Class Test #1 4/4

Verlang:

2.1 Bereken die volgende (vir beide jare) en bespreek jou interpretasie daarvan: (9)
(a) Totale bate omset?
(b) Oprengs op bates?
(c) Opbrengs op ekwiteit?

2.2 Deur 2018 as basis jaar (100%) te gebruik, vergelyk die twee State van Finansiële posisies en
bereken die indeks in 2019 vir die volgende items: (5)
(a) Bedryfsbates
(b) Ekwiteit toeskryfbaar aan eienaars
(c) Behoue verdienste
(d) Nie-bedryfslaste
(e) Bedryfslaste

Taal en uitleg (1)

TOTAAL: 40 PUNTE

INGB 311Klastoets/Class Test #1 5/4

 Sakrekenaars/Calculators: Ja/Yes
Benodigdhede vir hierdie vraestel/Requirements for this paper: Ander hulpmiddels/Other resources:
Antwoordskrifte/ Multikeusekaarte (A5)/ LAPTOPS & access to eFundi
x
Answer scripts: Multi-choice cards (A5):

Presensiestrokies (Invulvraestel)/ Multikeusekaarte (A4)/

Attendance slips (Fill-in paper): Multi-choice cards (A4):

Rofwerkpapier/ Grafiekpapier/
Scrap paper: Graph paper:

Tipe assessering/ Kwalifikasie/ B.Ing

Type of assessment: Klasstoets/Class Test 1 Qualification:
Modulekode/ INGB 311 Tydsduur/ 72 minute/minutes
Module code: Duration:
Modulebeskrywing/ Ingenieursekonomie /Engineering Economics Maks/ 40
Module description: Max:
Eksaminator(e)/ Prof S van Rooyen Datum/ 11/03/2019
Examiner(s): Mr I Short Date:
Mr A Burger
Tyd/ 14:30
Time:

Inhandiging van antwoordskrifte/Submission of answer scripts: Gewoon/Ordinary

Examination instructions / Eksamenvoorskrifte

1. Students are allowed into the venue in the first half hour of a session, but no 1. Studente mag in die eerste halfuur van 'n sessie tot die lokaal toegelaat
extra time is granted. word, maar geen ekstra tyd word toegestaan nie.
2. No student is allowed to leave the venue before half an hour of the 2. Geen student word toegelaat om die lokaal te verlaat binne die eerste
examination session has elapsed. halfuur van 'n eksamensessie nie.
3. Students bring bags to the venue at own risk, and must put them in front of 3. Studente bring sakke na lokaal op eie risiko, en moet dit voor in die lokaal
the room. neersit.
4. Students may not have cell phones/electronic devices with them and/or 4. Studente mag nie selfone/elektroniese toestelle by hulle hê en/of hanteer
handle them. nie.
5. No refreshments are allowed in the examination venue. 5. Geen verversings word in 'n eksamenlokaal toegelaat nie.
6. Students may not leave the room for a smoke break. 6. Studente mag nie die lokaal verlaat om te gaan rook nie.
7. Write on both sides of each page (where applicable). 7. Skryf op beide kante van die bladsye.
8. Write in black or blue ink only (where applicable). 8. Skryf slegs in swart of blou ink.
9. No pages may be removed from the answer scripts (where applicable). 9. Geen bladsye mag uit die antwoordskrif verwyder word nie.
10. Students may not have unauthorised material with them during a session, 10. Studente mag nie ontoelaatbare materiaal by hulle hê tydens 'n sessie nie,
e.g. notes and/or objects that contain notes. bv. notas en/of objekte wat notas bevat nie.
11. No items may be borrowed during the session. 11. Geen items mag tydens die sessie geleen word nie.
12. Students may not attempt to assist another student, or attempt to obtain 12. Studente mag nie 'n ander student probeer help of probeer om hulp te kry
assistance. nie.
13. Students must hand in their answer scrips to invigilators before they leave 13. Studente moet hul antwoordskrifte aan toesighouers oorhandig voordat
the venue. (where applicable) hulle die lokaal verlaat.
14. The attendance slip on the back cover that also serves as an undertaking, 14. Die presensiestrokie op die agterblad, wat ook as onderneming geld, moet
must be completed and handed in. voltooi en ingegee word.
15. Electronic answer book must be saved in the exact format as 15. Elektroniese antwoord boeke moet presies in die voorgeskrewe
instructed INGB311(2019)CT1 [student name and student number] formaat gestoor word.
16. There will be only one submission made. BE SURE to continually 16. Daar sal slegs een indiening van antwoorde wees. MAAK SEKER dat jy
saving you work. Ensure you upload the correct version of the deurlopend die werk stoor. Maak seker jy laai die korrekte weergawe
electronic answer book. van die elektroniese antwoordboek op.

INGB 311Klastoets/Class Test #1 1/5

VRAAG 1 [25 MARKS]
Answer all the questions

1.1 You borrow R 10,000 from a financial institution today. You have to pay back R18,380 at the
end of 9 years. What is the interest rate (compounded annually) that you will be charged? (2)

1.2 You have bought a flat at a cost of R550,000. ABSA Bank is willing to grant a 20-year bond at a
nominal interest rate of 12% per annum, compounded monthly. Bond repayments will be made
monthly in advance. Determine your monthly payments. (2)

1.3 You have registered for a three-year degree programme and will borrowed R25,600 at the
beginning of each year. FNB charges 8% per annum, monthly compounded interest. Determine
how much you will owe the bank at the end of your third year. (2)

1.4 A colleague needs R500,000 at the end of five years to spoil his partner with a cruise to the
Caribbean Islands. He has asked you for financial advice as you have a degree in Finance. It is
your opinion that it would be best to invest equal annual amounts at Investec, which offers an
interest rate of 10% per annum, compounded quarterly. The first payment will be made at the
beginning of the first year.

Required:
(a) Calculate the amount that he must invest quarterly to achieve his objective. (3)
(b) If he made one lump-sum payment today, how much would he need to invest to achieve his
objective? (1)
1.5 You have recently inherited money from a distant relative, your late Aunt Mary. The conditions
of the will stipulate that you will receive R200, 000 at the end of Year 3 and R100,000 at the end
of Year 4. However, you have the options to rather choose the following:
• R320,000 at the end of year 5, with no other payments received before (option #); or
• No payments in year 5, but R180,000 in Years 3 and 7 (option #3).
If you can make an investment at an interest rate of 10%, annually compounded, at Investec, which
of the three options are the most beneficial?

1.6 You have to purchase a computer system for your business. The cash price of the computer
system is R220,000. The instalment sale agreement with the bank is as follows: Your first monthly
instalment is on 1 April 2019 and your last payment is on 31 March 2024. Finance cost is linked to
the prime interest rate which is currently at 11%. The bank charges an interest rate of 1% above the
prime rate.

Required:
a) Calculate the equal monthly payments to buy the computer system over the five-year period. (3)
b) Calculate the outstanding balance of the loan on 31 March 2020. (3)

INGB 311Klastoets/Class Test #1 2/5

QUESTION 2 [15 MARKS]

You are presented with the following extracts from the audited financial statements of Jumbo Ltd.

JUMBO LIMITED
STATEMENT OF FINANCIAL POSITION
AT 28 FEBRUARY 2019
2019 2018
ASSETS R R
Non-current assets 6 024 901 6 117 560
Property, plant and equipment 5 654 901 5 791 560
Investment in subsidiary 111 000 111 000
Other investments 259 000 215 000
Current assets 1 182 210 824 500
Inventory 885 000 660 000
Loans to directors and staff members 16 650 24 000
Trade and other receivables 280 560 140 500
Total assets 7 207 111 6 942 060
EQUITY AND LIABILITIES
Equity attributable to owners 5 010 969 4 296 066
Share capital 2 823 100 2 823 100
Retained earnings 1 598 433 883 530
Other reserves 589 436 589 436
Non-current liabilities 1 518 000 1 978 900
Long-term borrowings 1 518 000 1 978 900
Current liabilities 678 142 667 094
Trade and other payables 192 400 182 789
Current portion of long-term loan 87 000 87 000
Income tax payable 12 092 7 890
Dividends payable 146 150 136 000
Bank overdraft 240 500 253 415
Total equity and liabilities 7 207 111 6 942 060

INGB 311Klastoets/Class Test #1 3/5

JUMBO LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 28 FEBRUARY 2019 2019 2018
R R
Revenue 16 650 000 14 850 000
Cost of sales (9 990 000) (8 564 500)
Gross profit 6 660 000 6 285 500
Other income 59 385 45 500
Expenses (4 933 005) (4 394 200)
Distribution expenses (99 160) (96 700)
Administration expenses (1 666 922) (1 540 000)
Depreciation (889 018) (778 900)
Other expenses (2 277 905) (1 978 600)
Profit before finance charges 1 786 381 1 936 800
Finance cost (573 630) (608 970)
Profit before tax 1 212 751 1 327 830
Income tax expense 351 698 385 071
PROFIT FOR THE YEAR 861 053 942 759

JUMBO LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE
YEAR ENDED 28 FEBRUARY 2019
2019 2018

Retained Retained
earnings Earnings
R R
Balance at the beginning of the year 883 530 86 921
Total comprehensive income for the year 861 053 942 759
Dividends
- preference (29 600) (29 600)
- ordinary (116 550) (116 550)
Balance at 28 February 1 598 433 883 530

JUMBO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2019
5 Share capital
Authorised 2019 2018
1 400 000 Ordinary no par value shares
500 000 8% Preference shares of R1 each
Issued 2 823 100 2 823 100
1 260 000 Ordinary no par value shares
- Stated capital account 2 453 100 2 453 100
200 000 8% Preference shares of R1 each 370 000 370 000

INGB 311Klastoets/Class Test #1 4/5

REQUIRED:

2.1 Calculate and interpret the following (for both years): (3)

(a) What is the total asset turnover?

(b) What is the operating return on assets?
(c) What is the return on equity (ROE)?

2.2 By using 2018 as base year (100%) and comparing the two Statements of financial positions, what is the
index in 2019 for the following items in the SOFP: (5)

(a) Current assets

(b) Equity attributable to owners
(c) Retained earnings
(d) Non-current liabilities
(e) Current liabilities

Language and layout (1)

TOTAL: 40 MARKS

INGB 311Klastoets/Class Test #1 5/5