Exam (elaborations)
Fac1503 Assignment 9 Semester 1 2023 ( distinction on all possible ques)
- Course
- Institution
- Book
Fac1503 Assignment 9 Semester 1 2023 ( distinction on all possible ques)
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Fac1503 Assignment 4 semester 2 2022
-
Accounting for law students
3 reviews
By: basinidt • 6 months ago
By: florencemakwe • 1 year ago
By: lebohangmasindi • 1 year ago
Seller
Follow
ExpectviewTutors
Reviews received
Content preview
FAC 1503ASSIGNMENT 9 SEMESTER 1 2023
Use this document as a guide to learn, compare and reference
, Which option below reflects only inventory valuation methods?
Select one:
a. Last-in, first-out and weighted average
b. Periodic inventory system and First-in, first-out
c. Perpetual inventory system and Last-in, first-out
d. Perpetual inventory system and periodic inventory system
Clear my choice
Question 3
Answer saved
Marked out of 1.00
Which option below correctly indicates how a favourable balance from a bank account in the general ledger should be dealt with
when doing abank reconciliation?
Select one:
a. By crediting the bank reconciliation statement
b. By debiting the bank reconciliation statement
c. By crediting the bank statement
d. By debiting the bank statement
Clear my choice
Question 4
Answer saved
Marked out of 1.00
South Attorneys instructed SA Attorneys to collect outstanding rental income on behalf of a client, Mrs
S Africa.Which one of the following statements regarding the above is correct?
Select one:
a. South Attorneys will create an account statement and issue it to SA Attorneys.
b. SA Attorneys must refund any expenses incurred on behalf of Mrs S Africa by the instructed attorney if South Attorneys
collected theoutstanding rental income.
c. South Attorneys will create a client account for Mrs S Africa.
d. SA Attorneys will create a trust creditors account for Mrs S Africa.
Clear my choice
,Question 5
Answer saved
Marked out of 2.00
On 21 July 2021, Africa Traders bought desktop scanners of R130 000 from SA
Dealers on credit to replace the old scanners. Africa Traders is not registered as a
VAT vendor.
Which account will be debited, and which account will be credited in the general
ledger of Africa Traders?
Select one:
a.
Dr Computer equipment
Cr
2021 R 2021 R
Jul 21 Bank 130 000 Jul
Dr Bank
Cr
2021 R 2021 R
Jul Jul 21 Computer equipment 130 000
b.
Dr Computer equipment
Cr
2021 R 2021 R
Jul 21 Creditors control 130 000 Jul
Dr Creditors control
Cr
2021 R 2021 R
Jul Jul 21 Computer equipment 130 000
c.
Dr Computer equipment
Cr
2021 R 2021 R
Jul Jul 21 Bank 130 000
Dr Bank
Cr
2021 R 2021 R
Jul 21 Computer equipment 130 000 Jul
d.
Dr Computer equipment
Cr
, 2021 R 2021 R
Jul Jul 21 Creditors control 130 000
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 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 these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExpectviewTutors. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.85. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now