Exam (elaborations)
FAC1501 ELECTIVE ASSESSMENT 9 SUPPLEMENTING ASSESSEMNT 5
- Institution
- University Of South Africa (Unisa)
FAC1501 ELECTIVE ASSESSMENT 9 SUPPLEMENTING ASSESSEMNT 5
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,Assessment 5: Attempt review https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=191
FAC1501-24-S1 Welcome to FAC1501 Assessment 5
QUIZ
Started on Monday, 13 May 2024, 11:45 AM
State Finished
Completed on Monday, 13 May 2024, 12:20 PM
Time taken 35 mins 26 secs
Grade 89.75 out of 100.00
Feedback Congratulations, you passed this assessment with a distinction. Keep up the good work.
Question 1
Partially correct
Mark 14.32 out of 15.00
Shabangu Suppliers (not a registered VAT vendor) is a retail entity situated in the Limpopo province. The perpetual inventory system is in use and
merchandise are sold at a 25% mark-up on cost. The following transactions took place during May 2023:
Date Transaction R
6 Purchased merchandise from Matsene Traders and paid cash 15 504
15 Sold merchandise to Mr Hall for cash 4 085
29 Purchased merchandise from Zittace Traders on account 10 404
31 Returned merchandise purchased on credit to Zittace Traders 3 978
The opening balance of the inventory account on 1 May 2023 was R6 630
Required:
Post the above transactions to the general ledger account provided below.
Instructions for numeric responses:
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. When no amount needs to be entered in a column, then indicate this by entering "0" in the column.
Dr Cr
Inventory
2023 R 2023 R
May 1 Balance b/d May 1 Balance b/d
6630 0
31 31
Bank CPJ 15504 Bank CRJ 3268
Trade payables PJ 10404 Trade payables PRJ 3978
Balance c/d Balance c/d
0 25292
32538 32538
Jun 1 Balance b/d Jun 1 Balance b/d
25292 0
Refer to learning unit 6 and 7
1 of 12 2024/05/23, 13
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