Fac1502 exam - Study guides, Class notes & Summaries
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FAC1502 Exam Prep.
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. Mr J James is the owener of an enterprise trading as James Traders. At 31 May 2003 the enterprise 
had the following assets and liabilities: 
R 
Delivery vehicle 140 000 
Inventory 30 000 
Bank (overdraft) 10 000 
Creditors 120 000 
Debtors 100 000 
Accumulated depreciation: vehicles 20 000 
Provision for bad debts 5000 
Which one of the following amounts reflects the owner’s equity of James Traders at 31 May 2003? 
A R115 000 
B R125 000 
C R140 000 
D R160 000 
2. Capital Limited, who’s ...
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FAC1502 EXAM PACK 2023
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FAC1502 (Financial Accounting Principles, Concepts and Procedures) LATEST EXAM PACK ANSWERS 2023
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FAC1502 (Financial Accounting Principles, Concepts and Procedures) LATEST EXAM PACK ANSWERS 2023
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FAC1502 EXAM PACK 2023
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