Exam (elaborations)
FAC1501 Assignment 2 semester 2 2024
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The answers and questions are not for this year and they sold it at an expensive price. I have found not even a single question that is related to thus year's Assignment
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You don’t know how to use document Please note that with fac1501 they only change figures or amount but the format are the same. You should practice before attempting the assignment but if you always wanna find the same question with same amount or figures you’ll always fail your assignments
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3/28/24, 3:13 PM FAC1501-24-S1: Assessment 2FAC1501-24-S1 Welcome Message Assessment 2
QUIZ
Assessment 2
Opened: Thursday, 28 March 2024, 9:00 AM
Closes: Tuesday, 2 April 2024, 11:00 PM
162179
You must have completed the activities of learning units 1 to 5 before assessment 2 will be available to you.
Kindly note that you will only be able to view your mark obtained for assessment 2 and the overall feedback for
assessment 2 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 assessment 2.
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.
Attempts allowed: 1
Time limit: 45 mins
Grade to pass: 50.00 out of 100.00
Summary of your previous attempts
Marks / Grade /
State 40.00 100.00 Review Feedback
Finished 36.57 94.42 Congratulations, you passed this assessment with a
Submitted Thursday, 28 distinction. Keep up the good work.
March 2024, 3:12 PM
Your nal grade for this quiz is 94.42/100.00.
Overall feedback
Congratulations, you passed this assessment with a distinction. Keep up the good work.
No more attempts are allowed
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,3/28/24, 3:13 PM FAC1501-24-S1: Assessment 2
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,3/28/24, 3:12 PM Assessment 2 (page 1 of 2)
FAC1501-24-S1 Welcome Message Assessment 2
QUIZ
Time left 0:09:16
Question 1
Not yet answered
Marked out of 3.00
Mr S Africa is the owner of SA Traders. On 31 March 2021, the following list of balances was extracted from the accounting records of SA
Traders:
Land and buildings - R1 340 000
Trade payables - R34 800
Accrued income - R13 780
Mortgage loan - R830 500
Unfavourable bank balance - R22 068
Determine the net worth of SA Traders as at 31 March 2021 by making use of the basic accounting equation.
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. You must enter cents even if it is 0 (eg .00)
4. Only show the amount, do not show the R (eg: 12141.72)
5. If the net effect on the accounting equation is a decrease, please enter the amount as a negative (eg: -12141.72)
Answer: 466412
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=16574372&cmid=842826 1/7
, 3/28/24, 3:12 PM Assessment 2 (page 1 of 2)
Question 2
Not yet answered
Marked out of 10.00
Raphulu Spaza is situated in the Limpopo province. The Spaza shop is a registered VAT vendor and applies the principles of the
perpetual inventory system. During the month of March, Raphulu Spaza maintained a favourable bank balance.
The following transactions must be recorded in the subsidiary journals of Raphulu Spaza:
Transaction 1:
On 5 March 2024, Mrs Raphulu withdrew R1 750 from Raphulu Spaza’s bank account as the impress amount to start the petty cash oat
of Raphulu Spaza. The money was kept by Mrs Raphulu who acted as petty cashier.
Transaction 2:
PETTY CASH VOUCHER No. 1
Date: 16 March 2024 Amount
Required for: R c
Wages of cleaner 600 00
Signature: Mrs Raphulu
Authorised by: Mr Raphulu
Transaction 3:
PETTY CASH VOUCHER No. 2
Date: 20 March 2024 Amount
Required for: R c
ABC Wholesalers - Packaging material 550 00
Signature: Mrs Raphulu
Authorised by: Mr Raphulu
ABC Wholesalers
20/03/2024
Till 02
Brown paper
bags
15 packs @ R450,00
R30,00 each
BPI1001
Wrapping paper
5 rolls @ R20,00
R100,00
each
WPI1005
TOTAL R550,00
Cash R550,00
Change R0,00
15% VAT R71,74
Slip no 0012
VAT no 5690233875
Thank you
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=16574372&cmid=842826 2/7
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