Fac1502 exam - Study guides, Class notes & Summaries
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FAC1502 Exam pack 2024(Financial Accounting Principles Concepts and Procedures)
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FAC1502 Exam pack 2024(Financial Accounting Principles Concepts and Procedures) 
 
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FAC1501 EXAM PACK 2022_Fac1502 Exam Pack
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Fac1502 Exam Pack
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FAC1502 EXAM PACK WITH ANSWERS/SOLUTIONS
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EXAM QUESTION WITH ANSWERS (PRACTICE QUESTIONS) FAC1502
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FAC1502 EXAM PACK FINANCIAL ACCOUNTING PRINCIPLES CONCEPTS PROCEDURES
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FAC1502 EXAM PACK FINANCIAL ACCOUNTING PRINCIPLES CONCEPTS PROCEDURES 
N & N ENTERPRISES 
STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022 
Revenue 500 000 
Cost of Sales (362 800) 
Opening Inventory 100 000 
Purchases (283 000 + 39 000 – 5 000) 317 000 
Freight charges on purchases 5 000 
Shipping Fees 2 800 
Import duties 3 300 
Delivery Fees 4 100 
Modification Costs 2 600 
Closing Inventory (72 000) 
Gross Profit 137 200 
Other Income 2 860 
Int...
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Financial Accounting Principles Concepts and Procedures(FAC1502 Exam pack 2023)
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Financial Accounting Principles Concepts and Procedures(FAC1502 Exam pack 2023) 
 
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FAC1502 EXAM PACK 2023
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FAC1502 Exam Prep.
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. Mr J James is the owener of an enterprise trading as James Traders. At 31 May 2003 the enterprise 
had the following assets and liabilities: 
R 
Delivery vehicle 140 000 
Inventory 30 000 
Bank (overdraft) 10 000 
Creditors 120 000 
Debtors 100 000 
Accumulated depreciation: vehicles 20 000 
Provision for bad debts 5000 
Which one of the following amounts reflects the owner’s equity of James Traders at 31 May 2003? 
A R115 000 
B R125 000 
C R140 000 
D R160 000 
2. Capital Limited, who’s ...
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FAC1502 EXAM PACK 2023
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FAC1502 EXAM PACK 2022
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FAC1502 EXAM PACK 2023
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