Exam (elaborations)
Fac1501 Assignment 4 semester 2 2023
- Course
- Institution
The document contains Assignment question Together with answers Distinction Guaranteed 100% multiple Attempts done Whtsapp
[Show more]
6 reviews
By: nkubza4 • 6 months ago
By: setlhakomatome0 • 7 months ago
By: matambavuledzani3780 • 1 year ago
By: patriciamokhine • 1 year ago
Theee best
By: biancagassmann21 • 1 year ago
By: onaymanye497 • 1 year ago
Seller
Follow
SmartTutors
Reviews received
Content preview
9/24/23, 1:05 PM FAC1501-23-S2: Assessment 4UNISA 2023 FAC1501-23-S2 Welcome Message Assessment 4
QUIZ
Assessment 4
Opened: Friday, 22 September 2023, 10:00 AM
Closes: Tuesday, 26 September 2023, 10:00 PM
786729
Kindly note that you will only be able to view your mark obtained for assessment
4 and the overall feedback for assessment 4 after you have submitted your
attempt.
You will be able to view the questions you have received for the attempt, with
their answers and general feedback, after the due date of assessment 4.
Attempts allowed: 1
Time limit: 1 hour 45 mins
Grade to pass: 50.00 out of 100.00
Summary of your previous attempts
Marks / Grade /
State 50.00 100.00 Review Feedback
Finished You passed this
Submitted Sunday, assessment with a
24 September 2023, distinction. Keep up the
1:05 PM
good work.
Your nal grade for this quiz is
Overall feedback
You passed this assessment with a distinction. Keep up the
good work.
No more attempts are allowed
Back to the course
Contact us
https://mymodules.dtls.unisa.ac.za/mod/quiz/view.php?id=582742 1/2
,9/24/23, 1:03 PM Assessment 4 (page 1 of 2)
UNISA 2023 FAC1501-23-S2 Welcome Message Assessment 4
QUIZ
Time left 0:50:55
Question 1
Answer saved
Marked out of 1.00
During the preparation of the bank reconciliation statement, it is important to ensure that the
bank reconciliation statement retains the same format as your bank account in the general
ledger.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=13653053&cmid=582742#question-13838935-2 1/8
,9/24/23, 1:03 PM Assessment 4 (page 1 of 2)
Question 2
Answer saved
Marked out of 5.00
Mapungubwe Traders primary business is to buy and sell battery back-up systems and other
items to be used during load shedding. Mapungubwe Traders is NOT a registered VAT vendor
and applies the principles of the perpetual inventory system. On 1 April 2022, Mapungubwe
Traders purchased small solar lighting systems from a supplier (registered VAT vendor) to the
amount of R13 900 (VAT inclusive) and paid with a business debit card.
Required
a. Record the correct general ledger entries for the above transaction in the accounting records
of Mapungubwe Traders.
b. Indicate whether the VAT input or VAT output account was affected by the transaction or
neither (N/A) as well as the amount the applicable account was affected with.
NB: Instructions
Drag the correct answer into the correct space.
An option can be used more than once.
Purchases Bank
Purchases Trade receivables control
N/A
Trade receivables control and VAT Inventory and VAT
Inventory Bank and VAT
Purchases and VAT Bank
Trade payables control Trade payables control and VAT
Input 2 085 1 813.04 Output
13 900 15 985
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=13653053&cmid=582742#question-13838935-2 2/8
, 9/24/23, 1:03 PM Assessment 4 (page 1 of 2)
Question 3
Answer saved
Marked out of 1.00
Africa Traders is a registered VAT vendor and uses the periodic inventory system. Africa Traders
buys and sells furniture and equipment for cash or on credit. On 1 March 2021, Africa Traders
purchased furniture on credit from SA Suppliers (registered VAT vendor) to the amount of
R24 750. On 27 April 2021, Africa Traders paid R22 473,00 in full settlement of their account. On
the same day Africa Traders purchased furniture on the clearance sale. The selling price of the
furniture was R12 700 (excluding VAT). Africa Traders paid cash and received a further 10% cash
discount on the selling price.
Required:
What amount will be recorded in the bank column of the cash payments journal of Africa Traders
on 27 April 2021?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. You must enter cents even if it is 0 (eg .00)
4. Only show the amount, do not show the R (eg: 12141.72)
Answer: 11430
Question 4
Answer saved
Marked out of 2.00
Africa Traders is a registered VAT vendor and uses the periodic inventory system. Africa Traders
buys and sells furniture and equipment for cash or on credit. On 1 March 2021, Africa Traders
purchased furniture on credit from SA Suppliers (registered VAT vendor) to the amount of
R17 750. On 27 April 2021, Africa Traders paid R16 255,00 in full settlement of their account.
Required:
What amount will be recorded in the settlement discount received column of the cash payments
journal of Africa Traders on 27 April 2021?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. You must enter cents even if it is 0 (eg .00)
4. Only show the amount, do not show the R (eg: 12141.72)
Answer: 1300
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=13653053&cmid=582742#question-13838935-2 3/8
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SmartTutors. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for $2.92. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83225 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now
Recently viewed by you
