Exam (elaborations)
FAC1502 ASSESSMENT 3 SEMESTER 2 2023
- Institution
- University Of South Africa (Unisa)
FAC1502 ASSESSMENT 3 SEMESTER 2 2023
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SYDNEY TUTORING ACADEMYSEMESTER II 2023
FAC 1502 ASSESSMENT 3
SEMESTER 2 2023
DISTINCTION GUARANTEED
083 533 6960
WANDA DER TUTOR
OPENED: 8 SEPT 2023
CLOSE BY: 19 SEPT 2023
FACEBOOK: SYDNEY TUTORING ACADEMY
, 9/13/23, 1:53 AM Assessment 3
UNISA 2023 FAC1502-23-S2 Welcome Message Assessment 3
QUIZ
Time left 0:45:08
Question 1
State whether the following statement is true or false:
Not yet
answered The cost of stationery used is included in the calculation of cost of sales.
Marked out of
1.00
Select one:
True
False
Question 2
On 1 July 20.1, Joe Traders bought a photocopier for R84 000. BB Logistics delivered the photocopier to JJ Traders and
Not yet
answered
charged R2 500. RG IT Support installed the photocopier for R1 500. Joe Traders uses the fixed instalment method and
the photocopier will be depreciated at 25% per annum. Joe Traders also purchased 1 000 boxes of A4 copier paper on 1
Marked out of
1.00
July 20.1 for R130 000. The financial year-end of Joe Traders is 30 June.
What is the cost price of the photocopier?
Answer: 88000.00
Question 3
In the process of reconciling the balance on the trade payables control account with the list of balances as per trade
Not yet
answered
payables ledger, it was noted that certain accounts with credit balances of R1 000 need to be transferred from the trade
receivables ledger to the trade payables ledger.
Marked out of
3.00 The correct general ledger entries in the books of Pam Traders to record the given transaction will be ...
Instructions:
Drag the correct answer into the correct space.
An option can be used more than once.
Trade receivables control Trade payables control
Trade payables control Purchases Sales Trade receivables control
1 000 0
Question 4
UE Traders will incur the following costs after purchasing a machine from PZ Equipment Suppliers:
Not yet
answered 1. List price of the machine was R28 000. A trade discount of R3 500 was allowed off the list price.
Marked out of 2. Delivery costs of the machine to UE Traders, R 2 500.
1.00
3. Installation costs, R6 000.
The total cost to be disclosed in respect of the machine on the property, plant and equipment note at the end of the
financial year will be ...
NB: Instructions
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Only show the amount, do not show the R (eg: 12141.72)
Answer: 33000.00
Question 5
State whether the following statement is true or false:
Not yet
answered A fixed deposit is an example of a financial asset.
Marked out of
1.00
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=13288477&cmid=623192 1/6
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