Exam (elaborations)
FAC1502 Assignment 2 2024 - Due 11 September 2024
- Institution
- University Of South Africa (Unisa)
FAC1502 Assignment 2 2024
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1. UNISA2. 2024
3. FAC1502-24-S2
4. Welcome Message
5. Assessment 2
Quiz
Assessment 2
Open course index
Completion requirements
Opened: Wednesday, 4 September 2024, 8:00 AM
Closes: Wednesday, 11 September 2024, 11:00 PM
Unique number : 617096
Attempts allowed: 1
Time limit: 1 hour 20 mins
Grade to pass: 50.00 out of 100.00
Summary of your previous attempts
Marks / Grade /
State 60.00 100.00 Review Feedback
Finished Submitted 58.55 94.91 Not Congratulations, you pass the
Wednesday, 4 September permitted assessment with a distinction
2024, 10:43 AM
Please make sure you know the work
because the next assessment will be
more difficult.
Your final grade for this quiz is 94.91/100.00.
Overall feedback
Congratulations, you pass the assessment. Please make sure you know the work because the next assessment
will be more difficult.
, Mark 1.00 out of 1.00
Flag question
Question 1
Indicate by choosing the correct option whether the following statement is true or false:
The entries in the adjustment journal always affects the trading account or the profit or loss account as
well as a statement of financial position account.
Select one:
True
False
Question 4
Complete
Flag question
Question 2
Sales is R125 000. Mark-up of 20% selling price. What is the cost of sales amount?
Round off your answer to the nearest Rand.
Answer: 104167
Question 3
Complete
Mark 2.00 out of 3.00
Flag question
Question 4
Gizmo Enterprises provided you with the following information regarding the list of totals and balances on
28 February 20.8 (Ignore the VAT implications for purposes of this question)
R
TOTALS FOR JOURNALS
Cash receipts journal totals for the month
Trade receivables column…………………………………………………………….. 207 420
Settlement discount granted column………………………………………….. 12 000
Sales 404 000
column…………………………………………………………………………….....
Trade payables column……………………………………………………………….. 5 600
Additional information
The trade receivable’s column in the cash receipts journal was undercast by R900.
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