FAC1503 ASSIGNMENT 2 FOR 2024

FAC1503
ASSIGNMENT 05 FOR 2ND SEMESTER 2023




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ASSIGNMENT 5for second semester
2023. Please not that questions may
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, Question 2
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Question text
In the financial statements, accrued expenses will be classified as?
Select one:

a.
Non-current liabilities

b.
Current liabilities

c.
Non-current assets

d.
Current assets
Clear my choice

Question 3
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Question text
The following transaction relates to the accounting records of SA Attorneys for March 2022. The
legal practice is registered as a VAT vendor. On 24 March 2022, SA Attorneys paid the Sheriff with
a business cheque of R115, for the delivery of a summons to A South. The entry on 24 March 2022
in a book of first entry will be:
Select one:

a.
Sheriffs’ journal

Dr Cr
Date Details R R
24 Client – A South 100