FAC1501-24-S1 Welcome Message Assessment 2
QUIZ
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Question 1
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Swift Construction, located in Gauteng, specialises in constructing tiny homes. The business is a
registered VAT vendor. In March 2024, Swift Construction had a favourable bank balance. The VAT
rate is 15%.
On 30 March 2024 Swift Construction received a tax invoice for R37 120 (VAT exclusive) for the
airing of a television advertisement from XYZ Channel (registered VAT vendor) and paid the full
amount owing with an electronic funds transfer. Internet banking notice of payment 010 was issued.
Required:
Record the transaction on 30 March 2024 in the correct subsidiary journal of Swift Construction.
Instructions for numeric responses:
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. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a 0
(zero)
4. If a column name is not applicable, choose N/A from the dropdown menu.
5. Only show the amount, do not show the "R" (eg: 1000)
Swift Construction
Cash payments journal – March 2024 CPJ
Sundry accounts
Doc Day Details Fol Bank Inventory VAT Amount Fol Deta
Analysis of Receipts
No
Input
010 30
XYZ Channel 42688.00 42688.00 0 5568.00 37120.00 Ad
,Question 2
Answer saved
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Raphulu Spaza is situated in the Limpopo province. The Spaza shop is a registered VAT vendor and
applies the principles of the periodic inventory system. After a recent robbery, the owner of Raphulu
Spaza decided to run his business cashless and opened a bank account with Savers Bank. During
the month of March 2024 Raphulu Spaza maintained a favourable bank balance. The VAT rate is
15%.
On 5 March 2024, the cash sales of Raphulu Spaza amounted to R15 000 (VAT exclusive). The
source document was cash register roll number 2.
Required:
Record the transaction on 5 March 2024 in the correct subsidiary journal of Raphulu Spaza.
Instructions for numeric responses:
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. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a 0
(zero)
4. If a column name is not applicable, choose N/A from the dropdown menu.
5. Only show the amount, do not show the "R" (eg: 1000)
Raphulu Spaza
Cash receipts journal – March 2024 CR
Sundry accounts
Doc No Day Details Fol Bank Sales VAT Amount Fol Deta
Analysis of Receipts
Output
CRR002 5
Cash 17250.00 17250.00 15000.00 2250.00 0 N/
,Question 3
Incomplete answer
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Mekgoe Florist is situated in the Western Cape. The business is a registered VAT vendor and makes
use of the perpetual inventory system. During the month of March, Mekgoe Florist maintained a
favourable bank balance.
The following transactions must be recorded in the subsidiary journals of Mekgoe Florist:
Transaction 1:
On 5 March 2024, Mr Mekgoe withdrew R2 000 from Mekgoe Florist’s bank account as the impress
amount to start the petty cash float of Mekgoe Florist. The money was kept by Mr Mekgoe who
acted as petty cashier.
Transaction 2:
PETTY CASH VOUCHER No. 1
Date: 16 March 2024 Amount
Required for: R c
Wages - painter 800 00
Signature: Mr Mekgoe
Authorised by: Mrs Mekgoe
Transaction 3:
Mr Handyman
420 Workers Drive P O Box 2188
PRETORIA VAT registration number PRETORIA 0001
Tel (012) 329–1615 5590223986 Fax (012) 329–1616
Date: 20 March 2024 TAX INVOICE No: 032
To: Mekgoe Florist Payment method
499 Tshwane Drive Cheque/debit card
Pretoria Cash
VAT registration number 4960225750 Credit card
Account
Code Description Qty Total price
R01 Repair of cash 3,5 735,00
register (R210 per
hour)
735,00
110,25
VAT @ 15%
Invoice total 845,25
Amount tendered 845,25
Amount due 0,00
VAT included @ 15% 110,25
E & OE
PETTY CASH VOUCHER No. 2
Date: 20 March 2024 Amount
Required for: R c
, Mr Handyman - Repair of cash register 845 25
Signature: Mr Mekgoe
Authorised by: Mrs Mekgoe
Transaction 4:
On 31 March 2024, Mr Mekgoe completed a withdrawal slip and withdrew the cash needed from
Mekgoe Florist’s bank account to restore the petty cash impress amount to R2 000.
Required:
Record the above transactions in the correct subsidiary journal of Raphulu Spaza.
Instructions for numeric responses:
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. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero
("0")
4. If a column name is not applicable, choose N/A from the dropdown menu.
5. For numeric responses only show the amount, do not show the "R" (eg: 1000)
Mekgoe Florist
Petty cash journal – March 2024
Receipts Payments
Day Fol Amount Day Details No Fol Total Wages VAT Postage Amo
Input
R R R R R
5 CPJ1 2000.00 16 Mekgoe Florist 1 2000.00 0 300.00
31 CPJ1 20 Mr Handyman 2
2000.00 845.25 110.25 0 73
Please answer all parts of the question.
QUIZ
Time left 0:02:06
Question 1
Answer saved
Marked out of 5.00
Swift Construction, located in Gauteng, specialises in constructing tiny homes. The business is a
registered VAT vendor. In March 2024, Swift Construction had a favourable bank balance. The VAT
rate is 15%.
On 30 March 2024 Swift Construction received a tax invoice for R37 120 (VAT exclusive) for the
airing of a television advertisement from XYZ Channel (registered VAT vendor) and paid the full
amount owing with an electronic funds transfer. Internet banking notice of payment 010 was issued.
Required:
Record the transaction on 30 March 2024 in the correct subsidiary journal of Swift Construction.
Instructions for numeric responses:
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. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a 0
(zero)
4. If a column name is not applicable, choose N/A from the dropdown menu.
5. Only show the amount, do not show the "R" (eg: 1000)
Swift Construction
Cash payments journal – March 2024 CPJ
Sundry accounts
Doc Day Details Fol Bank Inventory VAT Amount Fol Deta
Analysis of Receipts
No
Input
010 30
XYZ Channel 42688.00 42688.00 0 5568.00 37120.00 Ad
,Question 2
Answer saved
Marked out of 5.00
Raphulu Spaza is situated in the Limpopo province. The Spaza shop is a registered VAT vendor and
applies the principles of the periodic inventory system. After a recent robbery, the owner of Raphulu
Spaza decided to run his business cashless and opened a bank account with Savers Bank. During
the month of March 2024 Raphulu Spaza maintained a favourable bank balance. The VAT rate is
15%.
On 5 March 2024, the cash sales of Raphulu Spaza amounted to R15 000 (VAT exclusive). The
source document was cash register roll number 2.
Required:
Record the transaction on 5 March 2024 in the correct subsidiary journal of Raphulu Spaza.
Instructions for numeric responses:
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. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a 0
(zero)
4. If a column name is not applicable, choose N/A from the dropdown menu.
5. Only show the amount, do not show the "R" (eg: 1000)
Raphulu Spaza
Cash receipts journal – March 2024 CR
Sundry accounts
Doc No Day Details Fol Bank Sales VAT Amount Fol Deta
Analysis of Receipts
Output
CRR002 5
Cash 17250.00 17250.00 15000.00 2250.00 0 N/
,Question 3
Incomplete answer
Marked out of 10.00
Mekgoe Florist is situated in the Western Cape. The business is a registered VAT vendor and makes
use of the perpetual inventory system. During the month of March, Mekgoe Florist maintained a
favourable bank balance.
The following transactions must be recorded in the subsidiary journals of Mekgoe Florist:
Transaction 1:
On 5 March 2024, Mr Mekgoe withdrew R2 000 from Mekgoe Florist’s bank account as the impress
amount to start the petty cash float of Mekgoe Florist. The money was kept by Mr Mekgoe who
acted as petty cashier.
Transaction 2:
PETTY CASH VOUCHER No. 1
Date: 16 March 2024 Amount
Required for: R c
Wages - painter 800 00
Signature: Mr Mekgoe
Authorised by: Mrs Mekgoe
Transaction 3:
Mr Handyman
420 Workers Drive P O Box 2188
PRETORIA VAT registration number PRETORIA 0001
Tel (012) 329–1615 5590223986 Fax (012) 329–1616
Date: 20 March 2024 TAX INVOICE No: 032
To: Mekgoe Florist Payment method
499 Tshwane Drive Cheque/debit card
Pretoria Cash
VAT registration number 4960225750 Credit card
Account
Code Description Qty Total price
R01 Repair of cash 3,5 735,00
register (R210 per
hour)
735,00
110,25
VAT @ 15%
Invoice total 845,25
Amount tendered 845,25
Amount due 0,00
VAT included @ 15% 110,25
E & OE
PETTY CASH VOUCHER No. 2
Date: 20 March 2024 Amount
Required for: R c
, Mr Handyman - Repair of cash register 845 25
Signature: Mr Mekgoe
Authorised by: Mrs Mekgoe
Transaction 4:
On 31 March 2024, Mr Mekgoe completed a withdrawal slip and withdrew the cash needed from
Mekgoe Florist’s bank account to restore the petty cash impress amount to R2 000.
Required:
Record the above transactions in the correct subsidiary journal of Raphulu Spaza.
Instructions for numeric responses:
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. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero
("0")
4. If a column name is not applicable, choose N/A from the dropdown menu.
5. For numeric responses only show the amount, do not show the "R" (eg: 1000)
Mekgoe Florist
Petty cash journal – March 2024
Receipts Payments
Day Fol Amount Day Details No Fol Total Wages VAT Postage Amo
Input
R R R R R
5 CPJ1 2000.00 16 Mekgoe Florist 1 2000.00 0 300.00
31 CPJ1 20 Mr Handyman 2
2000.00 845.25 110.25 0 73
Please answer all parts of the question.
