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FAC3701 Assignment 1 (COMPLETE ANSWERS) Semester 1 2024 (702057) - DUE 5 April 2024
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Exam study book DESCRIPTIVE ACCOUNTING IFRS FOCUS of Z. R. Koppeschaar - ISBN: 9780409128291 (error)
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FAC3/01 ©Assignment 1 Semester 1 2024
Detailed Solutions, References & Explanations
Unique number: 702057
Due Date: 5 April 2024
ASSESSMENT 01 (First semester) (30 marks)
WRITTEN ASSESSMENT
Ndlovu Jam Ltd is a company specializing in the manufacturing of various types of
jams and sauces.
The following is an extract of Ndlovu Jam Ltd’s trial balance for the year
ended 31 December 2023:
Notes Debit Credit
R R
Administration building — cost 1.1 1 500 000
Delivery vehicles — cost 1.2 1 150 000
Administration building — accumulated depreciation 1.1 150 000
Delivery vehicles — accumulated depreciation 1.2 330 000
Trade receivables 2 115 000
Profit before tax 3 962 000
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