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  3. University Of South Africa (Unisa)
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  5. Financial accounting (FAC1502)

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Fac1601 Assignment- 5 Semester 1 2024 Solutions
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  • May 20, 2024
  • 198
  • 2023/2024
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VERSION 1
The financial year-end for Nice Dealers is 28 February. The rental expenses of Nice
Dealers are R9 600 per
month. The financial records of Nice Dealers showed that rent was paid for ten
months during the financial
year ended 28 February 20.2.
Use the information to do the journal entry that correctly accounts for the
closing adjustment of the
rentals at year-end:
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. For embedded questions spelling is very important. If you spell the answer
incorrect it will be marked
incorrect. Please make sure that your spelling of the words is correct.
4. Don’t use any special characters (&) and don’t use bold in your answer. It
will be marked incorrect.
5. Do not use any abbreviations.
6. Your answer is case sensitive; therefore, you need to put the very first letter of
the answer in uppercase,
but the rest of your answer must be in lowercase (eg: Interest on loan)




Question 3
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