100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
FAC1601 Assignment 2 (COMPLETE ANSWERS) Semester 1 2024 (169265) - DUE 10 April 2024 • Course • Financial Accounting and Reporting - FAC1601 (FAC1601) • Institution • University Of South Africa (Unisa) • Book • ABOUT FINANCIAL ACCOUNTING VOLUME 2 (8TH ED £1.98   Add to cart

Exam (elaborations)

FAC1601 Assignment 2 (COMPLETE ANSWERS) Semester 1 2024 (169265) - DUE 10 April 2024 • Course • Financial Accounting and Reporting - FAC1601 (FAC1601) • Institution • University Of South Africa (Unisa) • Book • ABOUT FINANCIAL ACCOUNTING VOLUME 2 (8TH ED

5 reviews
 453 views  15 purchases
  • Module
  • Institution
  • Book

FAC1601 Assignment 2 (COMPLETE ANSWERS) Semester 1 2024 (169265) - DUE 10 April 2024 • Course • Financial Accounting and Reporting - FAC1601 (FAC1601) • Institution • University Of South Africa (Unisa) • Book • ABOUT FINANCIAL ACCOUNTING VOLUME 2 (8TH EDITION) FAC1601 Assignment ...

[Show more]

Preview 2 out of 12  pages

  • April 9, 2024
  • 12
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

5  reviews

review-writer-avatar

By: khwezilethu • 6 months ago

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

its a helpful document

review-writer-avatar

By: novemberkelly85 • 6 months ago

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

its ahelpful document

review-writer-avatar

By: nonhlyzandile • 6 months ago

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

thank you,i hope the document was helpful

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

review-writer-avatar

By: malusioltavie95 • 6 months ago

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

thank you,i hope the document was helpful

reply-writer-avatar

By: tabbymwesh59 • 6 months ago

Reply deleted by the user

review-writer-avatar

By: jcloete2015 • 6 months ago

avatar-seller
Exam (elaborations)FAC1601 Assignment 2 (COMPLETE ANSWERS) Semester 1 2024 (169265) - DUE
10 April 2024• Course• Financial Accounting and Reporting - FAC1601 (FAC1601)•
Institution• University Of South Africa (Unisa)• Book• ABOUT FINANCIAL
ACCOUNTING VOLUME 2 (8TH EDITION)FAC1601 Assignment 2 (COMPLETE ANSWERS) Semester 1
2024 (169265) - DUE 10 April 2024 ;100% TRUSTED workings, explanations and solutions. for
assistance Whats-App.......0.6.7..1.7.1..1.7.3.9.........


[Document subtitle]




[DATE]
[COMPANY NAME]
[Company address]

, Exam (elaborations)
FAC1601 Assignment 2 (COMPLETE ANSWERS)
Semester 1 2024 (169265) - DUE 10 April 2024
Course
 Financial Accounting and Reporting - FAC1601 (FAC1601)
 Institution
 University Of South Africa (Unisa)
 Book
 ABOUT FINANCIAL ACCOUNTING VOLUME 2 (8TH EDITION)

FAC1601 Assignment 2 (COMPLETE ANSWERS) Semester 1 2024
(169265) - DUE 10 April 2024 ;100% TRUSTED workings, explanations
and solutions. for assistance Whats-App.......0.6.7..1.7.1..1.7.3.9.........




Question 1 Open course index Open block drawer Back Assessment 2 2
Not yet answered Marked out of 11.00 The following information is
presented for Setlagole Catering, a business in providing luxury catering
services to the areas around the Dr Ruth Segomotsi Mompati District
Municipality in the North West province. These are the balances when they
commenced a simultaneous liquidation of the partnership: EXTRACT OF
BALANCES R Trade payables 53,900 Trade receivables 87,300 Catering
equipment (cost) 189,000 Vehicles (at cost) 180,000 Catering equipment
(accumulated depreciation) 123,979 Vehicles (accumulated depreciation)
67,500 Building (at cost) 250,000 The following transactions took place as
part of the liquidation: 1. Debtors were offered a 5% settlement discount.
Only 94% of the debtors settled their balances and the remainder of the
debtors book was sold to a debt agency at 65% discount. 2. The creditors
were all settled at a settlement discount of 11%. 3. The vehicle and the
building were auctioned off for R112 000 and R283 300 respectively 4. The
catering equipment was sold to another local catering company for R55
000. Which one of the following alternatives represents the correct net profi
t (or loss) made on the simultaneous liquidation of Setlagole Catering?
Your answer must be rounded off to the nearest rand. a.(R 19,367) b. (R
28,708) c. (R 21,200) d.R 170,279 e.R 21,200 f. (R 170,279) g. R 28,708 h.
R 19,367 Clear my choice
To determine the net profit or loss made on the simultaneous liquidation of Setlagole
Catering, we need to calculate the proceeds from the sale of assets and compare them to the
total liabilities settled after applying discounts.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

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 tabbymwesh59. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £1.98. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

83637 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

Start selling
£1.98  15x  sold
  • (5)
  Add to cart