Exam (elaborations)
FAC1501 ASSESSMENT 5 SEMESTER 2 2023 CONTACT @//
- Module
- Institution
FAC1501 ASSESSMENT 5 SEMESTER 2 2023 CONTACT @//
[Show more]
Seller
Follow
BMZAcademy
Reviews received
Content preview
10/9/23, 7:56 PM Assessment 5 (page 1 of 2)CONTACT @061 262 1185/068 053 8213/0717 513 144
FAC1501-23-S2 Welcome Message Assessment 5
QUIZ
Time left 1:16:10
Question 1
Not yet answered
Marked out of 3.00
SA Traders is a registered VAT vendor. The VAT rate is 15%. The following information was recorded in the accounting records
of SA Traders as at 28 February 2022 (the financial year-end):
R
Vehicles at cost 218 000
Computer equipment at cost 109 000
Accumulated depreciation: Vehicle (1 March 2021) 65 400
Accumulated depreciation: Computer equipment (1 March 16 350
2021)
The vehicles are depreciated at 20% per annum, using the straight-line method. Computer equipment is depreciated at 15% per
annum, using the reducing balance method.
What will be the carrying value of the computer equipment as at 28 February 2022?
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. Only show the amount, do not show the R (eg: 12141.72)
Answer: 78752.5
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14070080&cmid=582743 1/11
, 10/9/23, 7:56 PM Assessment 5 (page 1 of 2)
Question 2
Not yet answered
Marked out of 3.00
At 30 September 2021, the financial year-end of Emalahleni Traders, the following information was obtained from the entity’s
accounting records:
R
Sales 529 959
Services rendered 123 450
Cost of sales 360 234
Packaging material 23 640
Credit losses 10 132
Bank charges 3 377
Water and electricity 20 263
Salaries and wages 67 543
Advertising 19 138
Depreciation 12 382
Dividend income 5 628
Interest income 15 759
Calculate the amount that will be transferred from the profit and loss account to the capital account of Emalahleni Traders
when the closing transfers are done on 30 September 2021?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)
2. Only show the amount, do not show the R (eg: 12141.72)
3. If the total amount calculated should be debited in the capital account, please enter the amount as a negative (eg:
-12141.72), if the amount should be credited to the capital account, please enter the amount as a positive (eg: 12141.72)
Answer: 158087
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14070080&cmid=582743 2/11
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 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 BMZAcademy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.93. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83249 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now
Recently viewed by you
