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FAC1501 ASSESSMENT 6 SEMESTER 1 2024 SEARCHABLE
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- University Of South Africa (Unisa)
FAC1501 ASSESSMENT 6 SEMESTER 1 2024 SEARCHABLE
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,5/21/24, 5:00 AM Assessment 6 (page 1 of 7)
UNISA 2024 FAC1501-24-S1 Welcome to FAC1501 Assessment 6
QUIZ
Time left 0:20:31
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=19440279&cmid=842830 1/3
, 5/21/24, 5:00 AM Assessment 6 (page 1 of 7)
Question 1
Answer saved
Marked out of 10.00
John Miles started a business named Miles of Furniture during 2023. The business is a registered VAT vendor and applies the principles
of the perpetual inventory system. The VAT rate is 15%.
The following transactions must be recorded in the subsidiary journals of Miles of Furniture:
Transaction 1:
On 2 February 2024, Mrs Diale withdrew R650 from Miles of Furniture’s bank account as the impress amount to start the petty cash float
of Miles of Furniture. The money was kept by Mrs Diale who acted as petty cashier.
Transaction 2:
PETTY CASH VOUCHER No. 1
Date: 12 February 2024 Amount
Required for: R c
Gumede Florist (not a registered VAT vendor) - Flowers 190 00
for owners' birthday
Signature: Mrs Diale
Authorised by: Mr Miles
Transaction 3:
ABC Electrical
420 Workers Drive P O Box 2188
PRETORIA VAT registration number PRETORIA 0001
Tel (012) 329–1615 5590223986 Fax (012) 329–1616
Date: 23 February 2024 TAX INVOICE No: 032
To: Miles of Furniture Payment method
499 Tshwane Drive Cheque/debit card
Pretoria Cash
VAT registration number 4960225750 Credit card
Account
Code Description Qty Total price
EW01 Repairs: electrical 3 360,00
wiring (R120 per
hour)
360,00
54,00
VAT @ 15%
Invoice total 414,00
Amount tendered 420,00
Change 6,00
VAT included @ 15% 54,00
E & OE
PETTY CASH VOUCHER No. 2
Date: 23 February 2024 Amount
Required for: R c
ABC Electrical - Repairs to electrical wiring 414 00
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=19440279&cmid=842830 2/3
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