FAC1501 Assignment 7 Due on 3 September 2023

9/3/23, 6:39 PM Assessment 7 (page 1 of 2)


QUIZ




Time left 1:11:41

Question 1 Africa Traders manufactures and sells generators. On 30 June 2021
Answer saved Africa Traders sold 20 generators for R180 000 (VAT inclusive) for
cash to SA Traders. Africa Traders is a registered VAT vendor and the
Marked out of
VAT rate is 15%.
2.00
What is the purchases amount that will be recorded in the applicable
journal of SA Traders (not a VAT vendor)?

Select one:
a. R180 000,00
b. R0,00
c. R156 521,74
d. R153 000,00

Clear my choice




Question 2 SA Electrical received a debit card payment of R2 300,00 from A
Answer saved Zulu in full settlement of his account. Receipt no. 1024 was
issued. The supporting document that SA Electrical will use to
Marked out of record the transaction in the correct subsidiary journal will be:
2.00

Select one:
a. duplicate invoice
b. duplicate receipt
c. original receipt
d. duplicate deposit slip

Clear my choice




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