Opened: Thursday, 11 April 2024, 8:00 AM
Closes: Monday, 15 April 2024, 7:00 PM
832285
You must have completed the activities of learning units 1 to 7 before assessment 3 will be available to you.
Kindly note that you will only be able to view your mark obtained for assessment 3 and the overall feedback for assessment 3 after you have submitted your attempt.
You will be able to view the questions you have received for the attempt, with their answers and general feedback, after the due date of assessment 3.
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Attempts allowed: 1 oscar the tutor
oscardiura@gmail.com
Time limit: 1 hour 30 mins +27737560989
for
Grade to pass: 50.00 out of 100.00 FAC,MAC,ECS,DSC,TAX,FIN,INV,QMI,BNU,MNB,IOP ,tutoring
Summary of your previous attempts
State Marks / 55.00 Grade / 100.00 Review Feedback
Finished 50.45 91.72 You passed this assessment with a distinction. Keep up the good work.
Submitted Saturday, 13 April 2024, 8:36 AM
Your final grade for this quiz is 91.72/100.00
,FAC1501-24-S1 Welcome Message Assessment 3
QUIZ
Time left 0:56:50
Question 1
Africa Services, a registered VAT vendor, provides electrician services. On 18 March 2023,
Answer saved
Africa Services provided electrician services for R12 670 (VAT exclusive) to SA Traders for
Marked out of
cash. The VAT rate is 15%.
6.00
Required:
Record the above transaction in the applicable subsidiary journal of Africa Services.
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. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in
a zero ("0")
Africa Services
Cash receipts journal – March
2023
Doc Sundry accounts
no Day Details Fol Analysis of receipts Bank Sales VAT Output Amount Fol Details
SA Traders 14570.50 14570.50 12670.00 1900.50
18
,Question 2 Mthoko Hardware, a registered VAT vendor, buys and sells power tools, household hardware,
Answer saved home improvement materials and other related items. The VAT rate is 15%. All goods are sold at a
constant mark-up of 25% and the entity uses the periodic inventory system.
Marked out of
6.00 On 23 November 2022, Mthoko Hardware sold goods for R984.54 (VAT exclusive) on credit to Mr oscar the tutor
Mzimela. oscardiura@gmail.com
+27737560989
for
Required:
FAC,MAC,ECS,DSC,TAX,FIN,INV,QMI,BNU,MNB,IO
Record the above transaction in the applicable subsidiary journal of Mthoko Hardware. P ,tutoring
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. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in
a zero ("0")
Mthoko Hardware
Sales journal – November 2022
Doc
no Day Details Fol VAT Output Sales Trade receivables
R R R
Mr Mzimela 147.68 984.54 1132.22
23
, Question 3 Tsarfati Traders, a registered VAT vendor, buys and sells furniture. The VAT rate is 15%. All goods
Answer saved are sold at a constant mark-up of 20% and the entity uses the periodic inventory system.
Marked out of
4.00 CAPE CAMPERS
102 Samson Drive P O Box 8345
Cape Tow n VAT registration number CAPE TOWN 6665
Tel (021) 466–1615 6230773556 Fax 021) 466–1616
Date: 8 November 2022 TAX INVOICE No: 2333
To: Tsarfati Traders Payment method
600 Sea Road Cape Cheque/debit card
Town Cash
VAT registration number 6220226118 Credit card
Account
Code Description Qty Total price
SB01 Sleeping bags 30 63 000,00
63 000,00
VAT @ 15%
9 450,00
Invoice total 72 450,00
Amount tendered 0,00
Amount due 72 450,00
VAT included @ 15% 9 450,00
E & OE
Required:
Record the source document provided in the applicable subsidiary journal of Tsarfati Traders.
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. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in
a zero ("0")
Tsarfati Traders
Purchases journal – November 2022
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