Exam (elaborations)
FAC1501 Assignment 9 Semester 2 2024
- Institution
- University Of South Africa (Unisa)
FAC1501 Assignment 9 Semester 2 2024
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11/7/24, 10:46 AM FAC1501-24-S2: Assessment 9UNISA 2024 FAC1501-24-S2 ANNOUNCEMENTS AND ASSESSMENTS Assessment 9
QUIZ
Assessment 9
Opened: Thursday, 7 November 2024, 9:00 AM
Closes: Friday, 8 November 2024, 9:00 AM
741975
You must have completed the activities of Learning units 1 to 11 before Elective Assessment 9 will be available to you.
Kindly note that you will only be able to view your mark obtained for Elective Assessment 9 and the overall feedback for Elective
Assessment 9 after you have submitted your attempt.
You will be able to view the questions you have received for the attempt, with its answers and general feedback, after the due date of
Elective Assessment 9.
NB: Please complete this assessment using a computer. If not possible use the web browser of your phone. Some tables will not be
visible through the myModules app on your phone.
Attempts allowed: 1
Time limit: 2 hours
Grade to pass: 50.00 out of 100.00
Summary of your previous attempts
State Grade / 100.00 Review Feedback
Finished 89.52 Congratulations, you passed this assessm
Submitted Thursday, 7 November 2024, 10:45 AM
Your final grade for this quiz is 89.52/100.00.
Overall feedback
Congratulations, you passed this assessment with a distinction.
No more attempts are allowed
Back to the course
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, 11/7/24, 10:44 AM Assessment 9 (page 1 of 2)
NISA 2024 FAC1501-24-S2 ANNOUNCEMENTS AND ASSESSMENTS Assessment 9
QUIZ
Assessment 9
Back
Time left 1:10:10
Question 1
WaMarks Traders had the following information that will be reflected on the bank reconciliation statement for
Answer saved 31 March 2022:
Marked out of 1. Outstanding deposits on 31 March 2022 – R31 385
3.00
2. Outstanding payments at 31 March 2022 – R33 974
Flag question
3. Balance as per the bank account in the general ledger as at 31 March 2022 – R10 730 (unfavourable)
What will the balance as per the bank statement as at 31 March 2022 be?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)
2. Only show the amount, do not show the R (eg: 12141.72)
3. If the total amount calculated is a favourable bank balance, please enter the amount as a positive (eg:
12141.72), if the total amount calculated is an unfavourable bank balance, please enter the amount as a negative
(eg: -12141.72)
Answer: -13319.00
Question 2 Machete Traders specialises in selling quality household appliances and various household goods. The business
Answer saved is a registered VAT vendor and applies the principles of the periodic inventory system. The VAT rate is 15%.
Marked out of The following is an extract from the trial balance of Machete Traders as at 31 March 2023:
20.00
R
Flag question Sales 171 820
Purchases 117 370
Sales returns 8 361
Purchases returns 3 980
Settlement discount granted 5 771
Settlement discount received 2 879
Required:
a) Record the closing transfers in the general journal for the following accounts:
Sales
Sales returns
Settlement discount granted
Settlement discount received
Purchases returns
Purchases
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. Please complete the journals in the order indicated through the narrations provided.
General journal of Machete Traders - March 2023
Description Debit Credit
R R
Sales 8361
Sales returns 8361
Closing transfer of sales returns
Sales 5771
Settlement discount granted 5771
Closing transfer of settlement discount
granted
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