Exam (elaborations)
FAC1502 ASSIGNMENT 1 SEMESTER 2 2023
- Institution
- University Of South Africa (Unisa)
This document contains FAC1502 ASSIGNMENT 1 SEMESTER 2 2023 Questions and Trusted Answers
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12/19/22, 10:24 AM Assessment 1: Attempt reviewBradly Carstens is the owner Carsten & Sons Plumbing. On 30 October 20.2 you are given the following information for Carsten &
Sons Plumbing.
R
Clients owing for plumbing services rendered on credit 38 000
Equipment owned by Carsten & Sons Plumbing 80 000
Unfavourable bank balance 50 000
Carsten and Sons Plumbing owes suppliers for parts purchased on 25 000
credit
Vehicles owned by Carsten and Sons Plumbing 210 000
Which one of the following is the correct representation of the accounting equation of Bradly Carstens & Sons Plumbing after consideration of
the above information?
Select one:
A. BRADLY CARSTENS & SONS PLUMBING
EQUITY = | ASSETS - | LIABILIITES
R277 000 = | R25 000 + R80 000 + R210 000 - | R38 000
B. BRADLY CARSTENS & SONS PLUMBING
EQUITY = | ASSETS - | LIABILIITES
R179 000 = | R38 000 + R80 000 + R36 000 + R50 - | R25 000
000
C. BRADLY CARSTENS & SONS PLUMBING
EQUITY = | ASSETS - | LIABILIITES
R253 000 = | R38 000 + R80 000 + R210 000 | - | R50 000 + R25 000
D. BRADLY CARSTENS & SONS PLUMBING
EQUITY = | ASSETS LIABILIITES
R253 000 = | R50 000 + 25 000 R38 000 + R80 000 +
R210 000
E. BRADLY CARSTENS & SONS PLUMBING Incorrect
answer
EQUITY = | ASSETS - | LIABILIITES
R303 000 = | R38 000 + R80 000 + R210 000 - | R25 000
Your answer is incorrect.
The correct answer is:
BRADLY CARSTENS & SONS PLUMBING
EQUITY = | ASSETS - | LIABILIITES
R253 000 = | R38 000 + R80 000 + R210 000 | - | R50 000 + R25 000
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