UNISA 2023 FAC1502-23-S2 Welcome Message Assessment 3
QUIZ
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Question 1
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Lunas Art Club provides you with the following information for the 20.2 financial year. Lunas Art Club has 15 members at the end of
the 20.2 financial year. Membership fees amounts to R400 per month. During the current financial year, five new members joined the
club and paid an entrance fee of R100 each. The entrance fees received was capitalised to the accumulated fund account.
Membership fees received in advance on 31 December 20.1 was R28 800. The financial year-end of Lunas Art Club is 31 December.
The amount of membership fees received for the current financial year is …
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: 6000
Question 2
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On 1 July 20.1, Joe Traders bought three printers for R84 000 each from Qwerty Technologies and was given a 10% cash discount.
BB Logistics delivered all three printers to JJ Traders and charged R2 500. Joe Traders uses the diminishing balance method at a
depreciation rate of 20%.
The financial year-end of Joe Traders is 30 June.
What will be the carrying(book) value of printers on 30 June 20.4?
Answer: 117401.60
QUIZ
Time left 1:11:30
Question 1
Answer saved
Marked out of 1.00
Lunas Art Club provides you with the following information for the 20.2 financial year. Lunas Art Club has 15 members at the end of
the 20.2 financial year. Membership fees amounts to R400 per month. During the current financial year, five new members joined the
club and paid an entrance fee of R100 each. The entrance fees received was capitalised to the accumulated fund account.
Membership fees received in advance on 31 December 20.1 was R28 800. The financial year-end of Lunas Art Club is 31 December.
The amount of membership fees received for the current financial year is …
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: 6000
Question 2
Answer saved
Marked out of 1.00
On 1 July 20.1, Joe Traders bought three printers for R84 000 each from Qwerty Technologies and was given a 10% cash discount.
BB Logistics delivered all three printers to JJ Traders and charged R2 500. Joe Traders uses the diminishing balance method at a
depreciation rate of 20%.
The financial year-end of Joe Traders is 30 June.
What will be the carrying(book) value of printers on 30 June 20.4?
Answer: 117401.60
