Exam (elaborations)
FAC1502 Assignment 4 Semester 1 2023
- Course
- FAC1502 (FAC1502)
- Institution
- University Of South Africa
FAC1502 Assignment 4 Semester 1 2023 questions and answers
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FAC1502 Assignment4 Semester 1 2023
QUESTIONS AND ANSWERS
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Question 1
Answer saved
Marked out of
Indicate whether the following statement is true or false:
1.00
The entity needs to provide security to take out a mortgage.
Select one:
True
False
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Question 2
Answer saved
Marked out of Indicate whether the following statement is true or false:
1.00
A long-term borrowing will be shown at a redeemable amount on the statement of financial position.
Select one:
True
False
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Firefox https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=11341722&cmid=592476#
Question 3
Answer saved
Marked out of Bradly Carstens is the owner Carsten & Sons Plumbing. On 30 October 20.2 you are given the following information
2.00 for Carsten & Sons Plumbing.
R
Clients owing for plumbing services rendered on credit 63 000
Equipment owned by Carsten & Sons Plumbing 80 000
Unfavourable bank balance 55 000
Carsten and Sons Plumbing owes suppliers for parts purchased on credit 45 000
Vehicles owned by Carsten and Sons Plumbing 210 000
What is the net asset value (equity) of Carsten and Sons Plumbing on 30 October 20.2?
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: 253000
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