Exam (elaborations)

FAC1502 ASSESSMENT 4 SEMESTER 1 2024 SEARCHABLE COMPRESSED The following sales journal totals were provided to you: FRUIT AND VEGGIE SPAZA SHOP: SALES JOURNAL – AUGUST 20.20 Post the above transactions to the general ledger account provided below Naled

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Module
Financial Accounting Principles (FAC1502)

Institution
University Of South Africa (Unisa)

FAC1502 ASSESSMENT 4 SEMESTER 1 2024 SEARCHABLE COMPRESSED The following sales journal totals were provided to you: FRUIT AND VEGGIE SPAZA SHOP: SALES JOURNAL – AUGUST 20.20 Post the above transactions to the general ledger account provided below Naledi Traders received R3 000 cash for s...

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Uploaded on May 18, 2024
Number of pages 679
Written in 2023/2024
Type Exam (elaborations)
Contains Questions & answers

fac1502 assessment 4 semester 1 2024 searchable

Institution
University of South Africa (Unisa)
Module
Financial Accounting Principles (FAC1502)

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,Assessment 4 (page 12 of 12) https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=19

Question 12

Not yet answered

Marked out of 11.00

The following information relates to Moloko:
Balances as at 31 August 20.3: R R
Plant and machinery (at cost) 127 500
Accumulated depreciation: plant and machinery 69 900

Additional information
(a) According to the assets register, plant and machinery consist of two Desh machines of equal value. Both the
machines were purchased by obtaining a loan from Bakona Bank and they were charged 15 % interest per annum and installed
on the same date.
(b) Depreciation is written off at 20% per annum by the diminishing balance method.
(c) On 31 January 20.4, management decided to increase production capacity and purchased a King machine on
credit from Precious Ltd for R135 000. One of the Desh machines was traded in, reducing the amount owing to Precious Ltd to
R105 750.
(d) On 1 February 20.4, installation charges on the new machine amounting to R9 000 were paid in cash.

REQUIRED
Post the above transactions to the general ledger account provided below.

Instructions:
1. Do not type the amount with any spaces as separators for thousands (eg: 12141)
2. Round off to the nearest Rand (eg: 50.56 is 51)
3. Only show the amount, do not show the "R" for the Rand sign (eg: 12141)

Moloko
GENERAL LEDGER

Dr Machinery realisation Cr

R R

20.4 20.4

Jan 31 Plant and machinery 63750 Jan 31 Accumulated depreciation 37350

Pro�t on sale of machinery 2850 Precious Ltd/Trade payables control
29250

66600 66600

2 of 3 2024/05/14, 16

,Assessment 4 (page 11 of 12) https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=19

FAC1502-24-S1  Welcome to FAC1502  Assessment 4

QUIZ

Time left 0:37:15

Question 11

Answer saved

Marked out of 6.00

Naledi Traders received R3 000 cash for services rendered for a client. Naledi Traders maintained a favourable bank balance.
Prepare the BAE incorporating the information form the above transaction in the table below by indicating the net effect (amount)
and the account debited and credited:

Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by �lling in a zero ("0")

Assets = Equity + Liabilities

3000 3000 0

Bank account debit Services rendered account credit Not applicable

1 of 1 2024/05/14, 16

,Assessment 4 (page 11 of 12) https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=19

FAC1502-24-S1  Welcome to FAC1502  Assessment 4

QUIZ

Time left 0:37:15

Question 11

Answer saved

Marked out of 6.00

Naledi Traders received R3 000 cash for services rendered for a client. Naledi Traders maintained a favourable bank balance.
Prepare the BAE incorporating the information form the above transaction in the table below by indicating the net effect (amount)
and the account debited and credited:

Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by �lling in a zero ("0")

Assets = Equity + Liabilities

3000 3000 0

Bank account debit Services rendered account credit Not applicable

1 of 1 2024/05/14, 16

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Exam (elaborations)

FAC1502 ASSESSMENT 4 SEMESTER 1 2024 SEARCHABLE COMPRESSED The following sales journal totals were provided to you: FRUIT AND VEGGIE SPAZA SHOP: SALES JOURNAL – AUGUST 20.20 Post the above transactions to the general ledger account provided below Naled

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