SYDNEY TUTORING ACADEMY
SEMESTER II 2023
FAC 1501 ASSESSMENT 5
SEMESTER 2 2023
DISTINCTION GUARANTEED
083 533 6960
WANDA DER TUTOR
OPENED: 04 OCT 2023
CLOSE BY: 09 OCT 2023
FACEBOOK: SYDNEY TUTORING ACADEMY
,10/7/23, 2:26 PM Assessment 5 (page 1 of 2)
UNISA 2023 FAC1501-23-S2 Welcome Message Assessment 5
QUIZ
Time left 1:21:28
Question 1
Answer saved
Marked out of 3.00
The following information relates to a bank reconciliation of WaMarks:
(1) The balance as per the bank account in the general ledger, before taking the
items below into account, was R4 871 (favourable).
(2) A debit entry for interest to the amount of R3 020, has not been entered in the
applicable cash journal.
(3) A direct deposit of R7 560 that appears on the bank statement, has not been
entered in the applicable cash journal.
(4) During the current month, deposits received, totalling R7 298, have been correctly
entered in the cash receipts journal but have not been deposited at the bank.
(5) The balance as per the bank statement was R5 115 (favourable).
What will the outstanding payments amount be in the bank reconciliation
statement?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg:
12141.72)
2. Only show the amount, do not show the R (eg: 12141.72)
Answer: 3002.00
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14003632&cmid=582743 1/12
,10/7/23, 2:26 PM Assessment 5 (page 1 of 2)
Question 2
Answer saved
Marked out of 3.00
At 31 March 2022, the financial year-end of Pinetown Traders, it was decided to write
off the account of a debtor as irrecoverable, since it was expected that the debtor will
not pay the amount. The balance of the account of the debtor that must be written
off as irrecoverable was R1 679. Pinetown Traders determined that the allowance for
credit losses account should amount to R21 380 at 31 March 2022. The allowance
for credit losses account amounted to R25 930 at 31 March 2021.
What is the total amount with which the credit losses account will be adjusted in the
accounting records of Pinetown Traders, after taking the above information into
account?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg:
12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. You must enter cents even if it is 0 (eg .00)
4. Only show the amount, do not show the R (eg: 12141.72)
5. If the total amount with which the credit losses account is adjusted should be
credited to the account, please enter the amount as a negative (eg: -12141.72), if the
amount should be debited to the account, please enter the amount as a positive (eg:
12141.72)
Answer: -2871.00
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14003632&cmid=582743 2/12
, 10/7/23, 2:26 PM Assessment 5 (page 1 of 2)
Question 3
Answer saved
Marked out of 3.00
SA Traders is a registered VAT vendor. The VAT rate is 15%. The following
information was recorded in the accounting records of SA Traders as at 28 February
2022 (the financial year-end):
R
Vehicle at cost (1 March 2021) 82 000
Computer equipment at cost (1 March 2021) 191 250
Accumulated depreciation: Vehicle (1 March 2021) 35 875
Accumulated depreciation: Computer equipment (1 March 76 500
2021)
The vehicles is depreciated at 25% per annum, using the reducing balance method.
Computer equipment is depreciated at 20% per annum, using the straight-line
method.
On 1 July 2021, SA Traders purchased new computer monitors from a registered VAT
vendor for employees to use while working from home. The total cost price of these
monitors was R94 500 (excluding VAT). This transaction has not yet been recorded.
What will be the depreciation to be recorded on the vehicles for the year ended 28
February 2022?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg:
12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. Only show the amount, do not show the R (eg: 12141.72)
Answer: 11531.25
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14003632&cmid=582743 3/12
SEMESTER II 2023
FAC 1501 ASSESSMENT 5
SEMESTER 2 2023
DISTINCTION GUARANTEED
083 533 6960
WANDA DER TUTOR
OPENED: 04 OCT 2023
CLOSE BY: 09 OCT 2023
FACEBOOK: SYDNEY TUTORING ACADEMY
,10/7/23, 2:26 PM Assessment 5 (page 1 of 2)
UNISA 2023 FAC1501-23-S2 Welcome Message Assessment 5
QUIZ
Time left 1:21:28
Question 1
Answer saved
Marked out of 3.00
The following information relates to a bank reconciliation of WaMarks:
(1) The balance as per the bank account in the general ledger, before taking the
items below into account, was R4 871 (favourable).
(2) A debit entry for interest to the amount of R3 020, has not been entered in the
applicable cash journal.
(3) A direct deposit of R7 560 that appears on the bank statement, has not been
entered in the applicable cash journal.
(4) During the current month, deposits received, totalling R7 298, have been correctly
entered in the cash receipts journal but have not been deposited at the bank.
(5) The balance as per the bank statement was R5 115 (favourable).
What will the outstanding payments amount be in the bank reconciliation
statement?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg:
12141.72)
2. Only show the amount, do not show the R (eg: 12141.72)
Answer: 3002.00
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14003632&cmid=582743 1/12
,10/7/23, 2:26 PM Assessment 5 (page 1 of 2)
Question 2
Answer saved
Marked out of 3.00
At 31 March 2022, the financial year-end of Pinetown Traders, it was decided to write
off the account of a debtor as irrecoverable, since it was expected that the debtor will
not pay the amount. The balance of the account of the debtor that must be written
off as irrecoverable was R1 679. Pinetown Traders determined that the allowance for
credit losses account should amount to R21 380 at 31 March 2022. The allowance
for credit losses account amounted to R25 930 at 31 March 2021.
What is the total amount with which the credit losses account will be adjusted in the
accounting records of Pinetown Traders, after taking the above information into
account?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg:
12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. You must enter cents even if it is 0 (eg .00)
4. Only show the amount, do not show the R (eg: 12141.72)
5. If the total amount with which the credit losses account is adjusted should be
credited to the account, please enter the amount as a negative (eg: -12141.72), if the
amount should be debited to the account, please enter the amount as a positive (eg:
12141.72)
Answer: -2871.00
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14003632&cmid=582743 2/12
, 10/7/23, 2:26 PM Assessment 5 (page 1 of 2)
Question 3
Answer saved
Marked out of 3.00
SA Traders is a registered VAT vendor. The VAT rate is 15%. The following
information was recorded in the accounting records of SA Traders as at 28 February
2022 (the financial year-end):
R
Vehicle at cost (1 March 2021) 82 000
Computer equipment at cost (1 March 2021) 191 250
Accumulated depreciation: Vehicle (1 March 2021) 35 875
Accumulated depreciation: Computer equipment (1 March 76 500
2021)
The vehicles is depreciated at 25% per annum, using the reducing balance method.
Computer equipment is depreciated at 20% per annum, using the straight-line
method.
On 1 July 2021, SA Traders purchased new computer monitors from a registered VAT
vendor for employees to use while working from home. The total cost price of these
monitors was R94 500 (excluding VAT). This transaction has not yet been recorded.
What will be the depreciation to be recorded on the vehicles for the year ended 28
February 2022?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg:
12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. Only show the amount, do not show the R (eg: 12141.72)
Answer: 11531.25
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14003632&cmid=582743 3/12
