FAC1502
Assignment 4
Semester 2 - 2023
Due date: 16 October 2023
Unique No.: 717806
Disclaimer
These study notes are meant to aid your academic journey. They are not a substitute for
individual research or professional guidance, and their accuracy, while strived for, is not
guaranteed. You are responsible for verifying the information and maintaining academic
integrity by avoiding plagiarism and adhering to citation rules. The notes may not cover all
variations of a subject, so tailor your assignments to your specific academic environment. The
seller is not liable for any outcomes resulting from the use or misuse of these notes. By using
these notes, you agree to this disclaimer, which may be updated without notice.
UNISA 2023 FAC1502-23-S2 Welcome Message Assessment 4
2 Finished 98.75 100.00
, No more attempts are allowed
Your final grade for this quiz is 98.75/100.00
Started on Saturday, 14 October 2023, 09:04 AM
State Finished
Completed on Saturday, 14 October 2023, 10:19 AM
Time taken 1 hour 15 mins
Marks 98.75/100.00
Grade 98.75 out of 100.00
Back to the course
• All 2 attempts to this quiz are provided to each question to ensure you have everything
necessary to attain an 90%+ in this assignment.
• Use CTRL+F to search questions on this document.
• Reach out to us if you have any issues +27 64 074 1961, email:
• BONUS!!!
On the last page of this document you will find a Google drive link with the following :
→
,VERSION 1
The financial year-end for Nice Dealers is 28 February. The rental expenses of Nice Dealers are R9 600 per
month. The financial records of Nice Dealers showed that rent was paid for ten months during the financial
year ended 28 February 20.2.
Use the information to do the journal entry that correctly accounts for the closing adjustment of the
rentals at year-end:
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. For embedded questions spelling is very important. If you spell the answer incorrect it will be marked
incorrect. Please make sure that your spelling of the words is correct.
4. Don’t use any special characters (&) and don’t use bold in your answer. It will be marked incorrect.
5. Do not use any abbreviations.
6. Your answer is case sensitive; therefore, you need to put the very first letter of the answer in uppercase,
but the rest of your answer must be in lowercase (eg: Interest on loan)
NICE DEALERS
Question 2
Answer saved
Marked out of 1.00
3
, Flag question
Question text
Indicate whether the following statement is true or false:
The historical cost of asset and liabilities are increased if they become impaired or onerous.
Select one:
True
False
Question 3
Answer saved
Marked out of 1.00
Flag question
Question text
Indicate whether the following statement is true or false:
Assets decrease on the debit side of a T-account.
Select one:
True
False
Question 4
Answer saved
Marked out of 9.00
Flag question
Question text
Waterhouse is a small township retail business that trades in soft drinks and has a 30 June 20.19 financial
year-end. The business records the amount of inventory it purchases only on a cash basis. The owner,
Daniel Makoe, has requested you to assist him in preparing the accounting records on an accrual basis.
He has provided you with the following information:
Purchases: Inventory
Date Amount
R
4
Assignment 4
Semester 2 - 2023
Due date: 16 October 2023
Unique No.: 717806
Disclaimer
These study notes are meant to aid your academic journey. They are not a substitute for
individual research or professional guidance, and their accuracy, while strived for, is not
guaranteed. You are responsible for verifying the information and maintaining academic
integrity by avoiding plagiarism and adhering to citation rules. The notes may not cover all
variations of a subject, so tailor your assignments to your specific academic environment. The
seller is not liable for any outcomes resulting from the use or misuse of these notes. By using
these notes, you agree to this disclaimer, which may be updated without notice.
UNISA 2023 FAC1502-23-S2 Welcome Message Assessment 4
2 Finished 98.75 100.00
, No more attempts are allowed
Your final grade for this quiz is 98.75/100.00
Started on Saturday, 14 October 2023, 09:04 AM
State Finished
Completed on Saturday, 14 October 2023, 10:19 AM
Time taken 1 hour 15 mins
Marks 98.75/100.00
Grade 98.75 out of 100.00
Back to the course
• All 2 attempts to this quiz are provided to each question to ensure you have everything
necessary to attain an 90%+ in this assignment.
• Use CTRL+F to search questions on this document.
• Reach out to us if you have any issues +27 64 074 1961, email:
• BONUS!!!
On the last page of this document you will find a Google drive link with the following :
→
,VERSION 1
The financial year-end for Nice Dealers is 28 February. The rental expenses of Nice Dealers are R9 600 per
month. The financial records of Nice Dealers showed that rent was paid for ten months during the financial
year ended 28 February 20.2.
Use the information to do the journal entry that correctly accounts for the closing adjustment of the
rentals at year-end:
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. For embedded questions spelling is very important. If you spell the answer incorrect it will be marked
incorrect. Please make sure that your spelling of the words is correct.
4. Don’t use any special characters (&) and don’t use bold in your answer. It will be marked incorrect.
5. Do not use any abbreviations.
6. Your answer is case sensitive; therefore, you need to put the very first letter of the answer in uppercase,
but the rest of your answer must be in lowercase (eg: Interest on loan)
NICE DEALERS
Question 2
Answer saved
Marked out of 1.00
3
, Flag question
Question text
Indicate whether the following statement is true or false:
The historical cost of asset and liabilities are increased if they become impaired or onerous.
Select one:
True
False
Question 3
Answer saved
Marked out of 1.00
Flag question
Question text
Indicate whether the following statement is true or false:
Assets decrease on the debit side of a T-account.
Select one:
True
False
Question 4
Answer saved
Marked out of 9.00
Flag question
Question text
Waterhouse is a small township retail business that trades in soft drinks and has a 30 June 20.19 financial
year-end. The business records the amount of inventory it purchases only on a cash basis. The owner,
Daniel Makoe, has requested you to assist him in preparing the accounting records on an accrual basis.
He has provided you with the following information:
Purchases: Inventory
Date Amount
R
4
