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FAC1502 Assignment 2 Semester 2 2024 Whastapp 0 6 4 5 1 6 7 2 7 5
- Institution
- University Of South Africa (Unisa)
FAC1502 Assignment 2 Semester 2 2024 Whastapp 0 6 4 5 1 6 7 2 7 5
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FAC1502-24-S2: Assessment 2 https://mymodules.dtls.unisa.ac.za/mod/quiz/view.php?id=8469. Kindly note that you will be able to view your mark obtained for Assessment 2 and the overall feedback for Assessment 2
after you have submitted an attempt.
10. You will be able to view the questions you have received for the attempt, with the answers and feedback, after the due
date of Assessment 2.
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FAC1502 lecturers 21
Attempts allowed: 1
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Time limit: 1 hour 20 mins
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Grade to pass: 50.00 out of 100.00 11 2 1 12 0
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2 of 3 2024/09/04, 15
,9/4/24, 1:04 PM Assessment 2 (page 6 of 7)
Question 6
Answer saved
Marked out of 17.00
The following balances were extracted from the subsidiary journals of General Spaza Shop as at 28 February 20.2.
R
Cash receipts journal
VAT input 3 546,24
Amounts for sales added in the Sales column 513 371,04
Cash payments journal
Amounts for purchases added in the Bank column 742 523,72
VAT output 4 892,16
Purchases journal
Trade payables column 387 320,00
Sales journal
Trade receivables column 738 920,00
Purchases returns journal
Purchases returns column 50 399,44
Sales returns journal
Trade receivables column 32 714,40
On 1 February 20.2, the VAT input account had an opening balance of R123 525 and the VAT output account had an
opening balance of R185 265.
Using the above information, compile the VAT input account in the general ledger as at 28 February 20.2,
including the final closing transfer.
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. Only show the amount, do not show the R (eg: 12141.72)
4. Keep the ledger entries strictly according to the information given.
GENERAL SPAZA SHOP
GENERAL LEDGER
Dr VAT input Cr
20.2 R 20.2 R
Feb 1 Balance b/d 123525 Feb 28 Trade payables control PRJ 6573.84
Feb 28 Bank CRJ 3546.24 VAT control GJ 275446.32
Trade receivables control CPJ 96850.92
Trade payables control PJ 58098
282020.16 282020.16
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,9/4/24, 1:04 PM Assessment 2 (page 6 of 7)
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UNISA 2024 FAC1502-24-S2 Welcome Message Assessment 2
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