Exam (elaborations)
FAC1502 Assignment 4 Semester 1 2023 (898761)
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- University Of South Africa (Unisa)
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FAC1502Assignment 4
Semester 1 2023
(898761)
,FAC1502
Assignment
4 Semester
1 2023
(898761)
, Stuvia.com - The study-notes marketplace
Deskboard / My courses / FAC1502-23-S1 / Welcome Message /Assessment 4
Attempts allowed: 2
This quiz opened at Monday, 6 June 2023, 8:00 AM
This quiz will close on Sunday, 16 June 2023, 11:00 PM.
Time limit 2 hours
Grading method: Highest grade
Summary of your previous attempts
Attempt State Marks / Grade / Review Feedback
89.00 100.00
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Question 1 Time left 0:32:13
Answer saved
Marked out of 3.00
Luna Smith is the owner of Luna’s Plumbing. On 30 September you are given the following information for Luna’s Plumbing.
R
Clients owing for plumbing services rendered on credit 36 000
Equipment owned by Luna’s Plumbing 100 000
Unfavourable bank balance 50 000
Luna’s Plumbing owes suppliers for parts purchased on credit 25 000
Vehicles owned by Luna’s Plumbing 120 000
The correct representation of the accounting equation of Luna’s Plumbing after considering the given information is …
Instructions:
1. Drag the correct answer into the correct space (cell phone click on the answer and click on the place where you want to place the amount - also keep your
cell phone horizontal when doing the question).
2. An option can be used more than once.
181 000 256 000 75 000
25 000 181 000 256 000 306 000 231 000 75 000 175 000 36 000 25 000 139 000 281 000
Question 2
Answer saved
Marked out of 1.00
A liability is a claim which a party other than the owner/s has on the assets of the entity. Indicate whether the following statement is true or
false regarding liabilities?
Liabilities are classified into current liabilities and non-current liabilities.
Select one:
True
False
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