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Dashboard / My courses / FAC1502-22-S2
/ WELCOME TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES / Ass
Question 1
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Marked out of
Indicate whether the following statement is true or false:
1.00 The interest on a mortgage is shown as an expense in the statement of profit or loss and other comprehensive
Select one:
True
False
, Question 2
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Dashboard / My courses / FAC1502-22-S2
Pulani Traders returned inventory purchased to the value of R9 000 to Coffee Deals. Credit note 111 was issued
/Marked out of TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES / Ass
WELCOME
1.00 In which journal of Pulani Traders will you enter the above transaction?
Select one:
A. Purchases returns journal
B. Sales returns journal
C. General journal
D. Cash payments journal
E. Purchases journal
Clear my choice
OSCAR THE TUTOR
0844708483
for
, 3
QuestionDashboard Calendar
Answer saved
Dashboard / My courses / FAC1502-22-S2
Use the information provided below to analyse the transaction and then choose the correct option for the ana
/Marked out of TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES / Ass
WELCOME
4.00 transaction:
BK Salon's business bank account has a balance of R5 000.
Transaction: BK Salon obtained a loan of R30 000 with a payback period of less than a year from XYZ Bank.
The account to be debited in the transaction above. Bank
The account to be credited in the transaction above. Short- term borrowings
The effect of the above transaction on liabilities in the basic accounting equation. Liabilities will increase by
The effect of the above transaction on the assets in the basic accounting equation. Assets will decrease by R
, 4
QuestionDashboard Calendar
Answer saved
Dashboard / My courses / FAC1502-22-S2
Indicate whether the following statement is true or false:
/Marked out of TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES / Ass
WELCOME
1.00 A current asset will be scrapped when the asset is no longer useful and traded in as partial payment on the pu
asset.
Select one:
True
False
Dashboard / My courses / FAC1502-22-S2
/ WELCOME TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES / Ass
Question 1
Answer saved
Marked out of
Indicate whether the following statement is true or false:
1.00 The interest on a mortgage is shown as an expense in the statement of profit or loss and other comprehensive
Select one:
True
False
, Question 2
Dashboard Calendar
Answer saved
Dashboard / My courses / FAC1502-22-S2
Pulani Traders returned inventory purchased to the value of R9 000 to Coffee Deals. Credit note 111 was issued
/Marked out of TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES / Ass
WELCOME
1.00 In which journal of Pulani Traders will you enter the above transaction?
Select one:
A. Purchases returns journal
B. Sales returns journal
C. General journal
D. Cash payments journal
E. Purchases journal
Clear my choice
OSCAR THE TUTOR
0844708483
for
, 3
QuestionDashboard Calendar
Answer saved
Dashboard / My courses / FAC1502-22-S2
Use the information provided below to analyse the transaction and then choose the correct option for the ana
/Marked out of TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES / Ass
WELCOME
4.00 transaction:
BK Salon's business bank account has a balance of R5 000.
Transaction: BK Salon obtained a loan of R30 000 with a payback period of less than a year from XYZ Bank.
The account to be debited in the transaction above. Bank
The account to be credited in the transaction above. Short- term borrowings
The effect of the above transaction on liabilities in the basic accounting equation. Liabilities will increase by
The effect of the above transaction on the assets in the basic accounting equation. Assets will decrease by R
, 4
QuestionDashboard Calendar
Answer saved
Dashboard / My courses / FAC1502-22-S2
Indicate whether the following statement is true or false:
/Marked out of TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES / Ass
WELCOME
1.00 A current asset will be scrapped when the asset is no longer useful and traded in as partial payment on the pu
asset.
Select one:
True
False
