Exam (elaborations)
FAC1501 Assignment 6 Semester 1 2024
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FAC1501 Assignment 6 Semester 1 2024
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By: yandukomane • 5 months ago
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UNISA 2024 FAC1501-24-S1 Welcome Message Assessment 6QUIZ
Assessment 6
Opened: Monday, 20 May 2024, 9:00 AM
Closes: Tuesday, 21 May 2024, 9:00 AM
853233
Kindly note that you will only be able to view your mark obtained for mandatory
assessment 6 and the overall feedback for mandatory assessment 6 after you
have submitted your attempt.
You will be able to view the questions you have received for the attempt, with
their answers and general feedback, after the due date of mandatory
assessment 6.
Attempts allowed: 1
Time limit: 45 mins
Grade to pass: 50.00 out of 100.00
Summary of your previous attempts
Grade /
State 100.00 Review Feedback
Finished 98 20 You passed this mandatory
Submitted Monday, assessment with a distinction. Keep
20 May 2024, 7:32 up the good work.
AM
Your nal grade for this quiz is
98 20
Overall feedback
You passed this mandatory assessment with a distinction.
Keep up the good work.
No more attempts are allowed
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, QUIZ
Question 1
Answer saved
Marked out of 15.00
Shabangu Suppliers (not a registered VAT vendor) is a retail entity situated in the Limpopo
province. The perpetual inventory system is in use and merchandise are sold at a 25% mark-up
on cost. The following transactions took place during May 2023:
Date Transaction R
6 Purchased merchandise from Matsene Traders and paid cash 15 200
15 Sold merchandise to Mr Hall for cash 4 045
29 Purchased merchandise from Zittace Traders on account 10 200
31 Returned merchandise purchased on credit to Zittace Traders 3 900
The opening balance of the inventory account on 1 May 2023 was R6 500
Required:
Post the above transactions to the general ledger account provided below.
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 no amount needs to be entered in a column, then indicate this by entering "0" in the
column.
Dr Cr
Inventory
2023 R 2023 R
May 1 Balance b/d May 1 Balance b/d
6500 0
31 31
Bank CPJ 15200 Cost of sales CRJ 3236
Trade payables PJ 10200 Trade payables PRJ 3900
Balance c/d Balance c/d
0 24764
31900 31900
Jun 1 Balance b/d Jun 1 Balance b/d
24764 0
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