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Summary FAC1502 ASSESSMENT 4
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FAC1502ASSIGNMENT 4
SECOND SEMESTER 2023
BY: MTHOMBENI: 0767297208
info@teachingmachine.co.za
www.teachingmachine.co.za
,Instructions
1. Convert this document into word from the ILOVEMYPDF website
2. Type any word from the question and paste on the search bar
Example
Betties Smith is the owner of Bettties Plumbing.
Copy the whole sentence and paste into the search bar
Once the information pops out , check if the amounts are the same
3. Do not convert is you are using a cellphone
4. If you come across questions that are not on this memo, send me a WhatsApp message
2
,VERSION 1
Mandla Traders financial year ends annually on 31 December. The business uses the perpetual inventory system.
During the current financial year of 20.22, Mandla Traders had credit sales of R72 800. The company applies a 30%
mark-up on cost price.
The correct recording of the transaction in the general ledger of Mandla Traders will be:
.
Question 3
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Question text
You are given the following information for United Tennis Club for the year ended 31 December 20.6.
a) Membership fees received for the year is R37 440.
b) Membership fees was R200 in 20.5, R240 in 20.6 and will be R280 in 20.7.
c) On 1 January 20.6, the membership fees of five members for 20.5 were still due.
d) On 31 December 20.5, six members prepaid their membership fees for 20.6.
e) On 31 December 20.6 four members paid their membership fees for 20.7.
f) Membership fees received during 20.6 included the membership fees of three
members who did not pay in 20.5. The other two
members membership fees must be written off as irrecoverable.
g) On 31 December 20.6, three member’s membership fees for 20.6 were still
outstanding.
Instructions:
3
, 1. Drag the correct answer into the correct space (cell phone click on the answer and click on the place where you
want to place the amount - also keep your cell phone horizontal when doing the question).
2. An option can be used more than once.
3. Keep the transactions strictly according to date sequence.
4. If an options has been provided and it is not applicable to the specific questions please put N/A in the account
column and a 0 in the amount column.
Instructions:
1. Drag the correct answer into the correct space (cell phone click on the answer and click on the place where you
want to place the amount - also keep your cell phone horizontal when doing the question).
2. An option can be used more than once.
3. Keep the transactions strictly according to date sequence.
4. If an options has been provided and it is not applicable to the specific questions please put N/A in the account
column and a 0 in the amount column.
The properly balanced membership fees for United Tennis Club as at 31 December 20.6 will be …
Question 5
Answer saved
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Question text
Indicate by choosing the correct option whether the following statement is true or false:
The one advantage of using a single-entry system is that financial statement results can be compared on a yearly
basis.
4
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