11/13/22, 9:49 PM
Dashboard Calendar
Dashboard / My courses / FAC1502-22-S2 / WELCOME TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIA
Started on Wednesday, 26 October 2022, 5:58 PM
State Finished
Completed on Wednesday, 26 October 2022, 7:28 PM
Time taken 1 hour 30 mins
Marks 31.50/37.00
Grade 85.14 out of 100.00
Feedback Congratulations you have passed the assessment with distinction.
Question 1
Correct
Extract of pre-adjustment trial balance of Kumkani Traders as at 30 September 20
Mark 4.00 out of
4.00
Debit
R
Capital (1 October 20.19)………………………………………................…………
Drawings………………………………………………………………........................…… ?
Inventory: Trading (1 October 20.19)………………………………..........…… 61 72
Allowance for credit losses………………………………………..............……….
Mortgage: Ginsberg Bank ………………........................................................
Fixed deposit (at 7.5% per annum)…………………………….........………... 50 00
Sales……………………………………………………………………........................…...
Carriage on purchases………………………………………………................…… 9 50
Sales returns……………………………………………………………......................… 6 78
Rental income…………………………………………………………...................…...
Purchases……………………………………………………………......................…….. 197 80
Purchases returns…………………………………………………..................………
Depreciation…………………………………………………………...................…….. 38 36
Salaries and wages…………………………………………………….................….. 88 50
Insurance expenses……………………………………………….................………. 28 70
Telephone expenses…………………………………………………................…… 14 28
Water and electricity…………………………………………………..............……. 23 45
Credit losses……………………………………………………………...................….. 1 60
After a year-end inventory count, the value of trading inventory on hand was R123 450.
Additional information
(a) The insurance amount for Kumkani Traders’s factory building for the month of Octo
, 11/13/22, 9:49 PM
Question 3
Correct
Extract of pre-adjustment trial balance of Kumkani Traders as at 30 September 20
Mark 2.00 out of
2.00
Debit
Dashboard Calendar R
Capital (1 October 20.19)…………………………………………….....……
Dashboard / My courses / FAC1502-22-S2 / WELCOME TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIA
Drawings……………………………………………………………….............…… ?
Inventory: Trading (1 October 20.19)…………………………………… 61 72
Allowance for credit losses………………………………………….....…….
Mortgage: Ginsberg Bank ………………................................................
Fixed deposit (at 7.5% per annum)………………………..……………... 80 00
Sales……………………………………………………………………................…...
Carriage on purchases………………………………………………........…… 9 50
Sales returns…………………………………………………………............……. 6 78
Rental income………………………………………………………..........……...
Purchases……………………………………………………………............…….. 197 80
Purchases returns………………………………………………….........………
Depreciation…………………………………………………………...........……. 38 36
Salaries and wages……………………………………………………........….. 88 50
Insurance expenses……………………………………………………........…. 27 30
Telephone expenses…………………………………………………….......… 14 28
Water and electricity…………………………………………………….....…. 23 45
Credit losses……………………………………………………………..........….. 1 60
After a year-end inventory count, the value of trading inventory on hand was R123 450.
Additional information
(a) On 1 April 20.20 Kumkani Traders bought a factory building by means of a mortga
current year must still be provided for.
(b) The fixed deposit investment of R80 000 was made on 1 April 20.20. Interest on th
Use the information in the pre-adjustment trial balance and the additional information t
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the nearest Rand (eg: 50.56 is 51)
3. Only show the amount, do not show the R (eg: 12141.72)
Answer: 3000.00
Dashboard Calendar
Dashboard / My courses / FAC1502-22-S2 / WELCOME TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIA
Started on Wednesday, 26 October 2022, 5:58 PM
State Finished
Completed on Wednesday, 26 October 2022, 7:28 PM
Time taken 1 hour 30 mins
Marks 31.50/37.00
Grade 85.14 out of 100.00
Feedback Congratulations you have passed the assessment with distinction.
Question 1
Correct
Extract of pre-adjustment trial balance of Kumkani Traders as at 30 September 20
Mark 4.00 out of
4.00
Debit
R
Capital (1 October 20.19)………………………………………................…………
Drawings………………………………………………………………........................…… ?
Inventory: Trading (1 October 20.19)………………………………..........…… 61 72
Allowance for credit losses………………………………………..............……….
Mortgage: Ginsberg Bank ………………........................................................
Fixed deposit (at 7.5% per annum)…………………………….........………... 50 00
Sales……………………………………………………………………........................…...
Carriage on purchases………………………………………………................…… 9 50
Sales returns……………………………………………………………......................… 6 78
Rental income…………………………………………………………...................…...
Purchases……………………………………………………………......................…….. 197 80
Purchases returns…………………………………………………..................………
Depreciation…………………………………………………………...................…….. 38 36
Salaries and wages…………………………………………………….................….. 88 50
Insurance expenses……………………………………………….................………. 28 70
Telephone expenses…………………………………………………................…… 14 28
Water and electricity…………………………………………………..............……. 23 45
Credit losses……………………………………………………………...................….. 1 60
After a year-end inventory count, the value of trading inventory on hand was R123 450.
Additional information
(a) The insurance amount for Kumkani Traders’s factory building for the month of Octo
, 11/13/22, 9:49 PM
Question 3
Correct
Extract of pre-adjustment trial balance of Kumkani Traders as at 30 September 20
Mark 2.00 out of
2.00
Debit
Dashboard Calendar R
Capital (1 October 20.19)…………………………………………….....……
Dashboard / My courses / FAC1502-22-S2 / WELCOME TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIA
Drawings……………………………………………………………….............…… ?
Inventory: Trading (1 October 20.19)…………………………………… 61 72
Allowance for credit losses………………………………………….....…….
Mortgage: Ginsberg Bank ………………................................................
Fixed deposit (at 7.5% per annum)………………………..……………... 80 00
Sales……………………………………………………………………................…...
Carriage on purchases………………………………………………........…… 9 50
Sales returns…………………………………………………………............……. 6 78
Rental income………………………………………………………..........……...
Purchases……………………………………………………………............…….. 197 80
Purchases returns………………………………………………….........………
Depreciation…………………………………………………………...........……. 38 36
Salaries and wages……………………………………………………........….. 88 50
Insurance expenses……………………………………………………........…. 27 30
Telephone expenses…………………………………………………….......… 14 28
Water and electricity…………………………………………………….....…. 23 45
Credit losses……………………………………………………………..........….. 1 60
After a year-end inventory count, the value of trading inventory on hand was R123 450.
Additional information
(a) On 1 April 20.20 Kumkani Traders bought a factory building by means of a mortga
current year must still be provided for.
(b) The fixed deposit investment of R80 000 was made on 1 April 20.20. Interest on th
Use the information in the pre-adjustment trial balance and the additional information t
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the nearest Rand (eg: 50.56 is 51)
3. Only show the amount, do not show the R (eg: 12141.72)
Answer: 3000.00
