PASSMATE TUTORIALS
DISCLAIMER: THIS IS NOT AN OFFICIAL GUIDE FROM UNISA. THE FRAMEWORK
IS NOT PREPARED NOR APPROVED BY UNISA, RATHER REPRESENTS A
POSSIBLE SOLUTION TO THE TASK CONSISTENT WITH THEORY. THIS
FRAMEWORK IS ONLY INTENDED TO ASSIST STUDENTS IN GETTING STARTED
WITH THEIR ASSIGNMENT, AND IN NO CASE THIS DOCUMENT SHOULD BE USED
FOR CHEATING, THUS NO STUDENT IS ENCOURAGED TO COPY THIS
DOCUMENT, NOR ITS SECTIONS FOR SUBMISSION. WE BELIEVE THE
FRAMEWORK WILL BE A GOOD STARTING POINT AS IT WAS PREPARED BY OUR
TEAM OF PROFESSIONAL PRIVATE TUTORS WHO ARE EXPERTS IN THE FIELD,
AND IT WAS PREPARED USING VARIOUS SOURCES. ANY SIMILARITY WITH ANY
EXISTING THEORY OR DISCUSSION BY OTHER AUTHORS IS EXCUSED. THE
AUTHORS HOWEVER DO NOT CLAIM MONOPOLY TO KNOWLEDGE HENCE
MODIFICATION OF THE ANSWERS CONTAINED IN THIS FRAMEWORK MAY NOT
BE PROHIBITED AS IT CONTRIBUTES TO EXPANSION OF KNOWLEDGE. FOR ANY
FURTHER GUIDELINE ABOUT THE INFORMATION CONTAINED HERE AND THE
MODULE IN GENERAL, CONTACT PASSMATE TUTORIALS.
WE ASSIST WITH OTHER MODULES INCLUDING:
ECSs, FACs, MACs, MNGs, INTs, TRLs, HMEMS, PRMs, PROs, MNBs, DSC, QMI,
MNMs, MNO, MNPs, FIN, PUBs, MNMs, RESEARCH among others.
WE OFFER CLASSES, ASSIGNMENT GUIDELINES, EXAMINATION PREPARATION,
RESEARCH AND RESEARCH PROPOSALS, DISSERTATION EDITING etc.
OTHER THAN UNISA, WE ALSO ASSIST STUDENTS AT VARIOUS INSTITUTIONS
INCLUDING MANCOSA, REGENT, REGEYNESES, BOSTON, STADIO, OLG, UJ, UP
etc
For any enquiries the following numbers can be used for calling, sms, whatsapp and
telegram
CONTACT PASSMATE TUTORIALS @061 262 1185/068 053 8213/0717 513 144 OR
email
,PASSMATE TUTORIALS
IMPORTANT NOTES TO CONSIDER
THIS IS ONLY A GUIDELINE OF EXPECTED AND POSSIBLE QUESTIONS AND
ANSWERS, NO ONE SHOULD SUBMIT IT FOR FINAL ASSESSMENT.
STUDENTS SHOULD COMPLETE THEIR OWN ASSIGNMENT, BUT KEEP IN MIND
THE RULES/INSTRUCTIONS
AS A TIP, IF YOU FIND THIS GUIDE USEFUL, YOU CAN CALL/WHATASPP US IF
YOU WANT A UNIQUE AND CUSTOMISED SOLUTION, SOMETHING THAT WE
GIVE YOU ALONE AND NOT SHARED WITH OTHER PEOPLE NOR SOLD ON
STUVIA AND OTHER ONLINE SITES CONTACT PASSMATE TUTORIALS @061 262
1185/068 053 8213/0717 513 144 OR email
********************************************************************************************
AT PASSMATE TUTORIALS, WE WISH YOU THE BEST IN ALL YOUR STUDIES.
WE ARE YOUR MATES TO PASSING EXCELLENTLY IN ALL YOUR STUDIES.
DO NOT FORGET TO REACH OUT TO US FOR ANY FURTHER AND OTHER
ASSISTANCE!
GOOD LUCKY
PASSMATE TUTORIALS 061 262 1185/068 053 8213/0717 513 144
,5/4/24, 10:15 PM Assessment 3
FAC1502-24-S1 Welcome to FAC1502 Assessment 3
QUIZ
Time left 0:49:14
Question 1
Answer saved
Marked out of 1.00
State whether the following statement is true or false:
The cost of stationery used is included in the calculation of cost of sales.
Select one:
True
False
Question 2
Answer saved
Marked out of 1.00
State whether the following statement is true or false:
The classification inventory does not include consumable inventory which are consumed in the normal business activities.
Select one:
True
False
Question 3
Answer saved
Marked out of 2.00
On 1 July 20.1, Joe Traders bought machinery for R84 000 was given a 5% cash discount. BB Logistics delivered the machinery to Joe
Traders and charged R2 500. The machinery was installed for R4 500. Joe Traders uses the fixed instalment method and the machine will
be depreciated at 20% per annum. Joe Traders also purchased 1 000 boxes of A4 copier paper on 1 July 20.1 for R130 000. The financial
year-end of Joe Traders is 30 June.
What is total accumulated depreciation on 30 June 20.4?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141)
2. Round off to the nearest Rand (eg: 50.56 is 51)
3. Only show the amount, do not show the R (eg: 12141)
Answer: 52080
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=18776668&cmid=842836#question-18992685-12 1/12
, 5/4/24, 10:15 PM Assessment 3
Question 4
Answer saved
Marked out of 2.00
The following balances appeared in the general ledger of Vice Traders on 30 June 20.2:
R
Inventory (1 July 20.1)……………………………………………… 60 000
Purchases…………………………………………………………… 80 000
Purchases returns………………………………………………….. 4 000
Settlement discount received……………………………………… 1 000
Sales…………………………………………………………………. 270 000
Customs duties……………………………………………………… 1 500
Carriage on purchases……………………………………………... 2 000
Carriage on sales…………………………………………………… 500
Settlement discount granted………………………………………. 3 000
Additional information:
Inventory on hand on 30 June 20.2 is R20 000.
The correct amount for the cost of purchases will be ...
NB: Instructions
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Only show the amount, do not show the R (eg: 12141.72)
Answer: 78500
Question 5
Answer saved
Marked out of 4.00
Please choose the correct option for the given scenario:
Consumable stores
on hand and prepaid
expenses will Current assets; statement of financial position.
disclosed as … in the
…
Commission income
and profit on sale of
a vehicle will be Other income; statement of profit or loss and other comprehensive income
disclosed as … in the
…
Cost of sales and
consumables will be
Distribution, administrative and other expenses; statement of profit or loss and other comprehensive income.
disclosed as … in the
….
Bank overdrafts and
accrued expenses
will be disclosed as Current liabilities; statement of financial position.
… in the …
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=18776668&cmid=842836#question-18992685-12 2/12
DISCLAIMER: THIS IS NOT AN OFFICIAL GUIDE FROM UNISA. THE FRAMEWORK
IS NOT PREPARED NOR APPROVED BY UNISA, RATHER REPRESENTS A
POSSIBLE SOLUTION TO THE TASK CONSISTENT WITH THEORY. THIS
FRAMEWORK IS ONLY INTENDED TO ASSIST STUDENTS IN GETTING STARTED
WITH THEIR ASSIGNMENT, AND IN NO CASE THIS DOCUMENT SHOULD BE USED
FOR CHEATING, THUS NO STUDENT IS ENCOURAGED TO COPY THIS
DOCUMENT, NOR ITS SECTIONS FOR SUBMISSION. WE BELIEVE THE
FRAMEWORK WILL BE A GOOD STARTING POINT AS IT WAS PREPARED BY OUR
TEAM OF PROFESSIONAL PRIVATE TUTORS WHO ARE EXPERTS IN THE FIELD,
AND IT WAS PREPARED USING VARIOUS SOURCES. ANY SIMILARITY WITH ANY
EXISTING THEORY OR DISCUSSION BY OTHER AUTHORS IS EXCUSED. THE
AUTHORS HOWEVER DO NOT CLAIM MONOPOLY TO KNOWLEDGE HENCE
MODIFICATION OF THE ANSWERS CONTAINED IN THIS FRAMEWORK MAY NOT
BE PROHIBITED AS IT CONTRIBUTES TO EXPANSION OF KNOWLEDGE. FOR ANY
FURTHER GUIDELINE ABOUT THE INFORMATION CONTAINED HERE AND THE
MODULE IN GENERAL, CONTACT PASSMATE TUTORIALS.
WE ASSIST WITH OTHER MODULES INCLUDING:
ECSs, FACs, MACs, MNGs, INTs, TRLs, HMEMS, PRMs, PROs, MNBs, DSC, QMI,
MNMs, MNO, MNPs, FIN, PUBs, MNMs, RESEARCH among others.
WE OFFER CLASSES, ASSIGNMENT GUIDELINES, EXAMINATION PREPARATION,
RESEARCH AND RESEARCH PROPOSALS, DISSERTATION EDITING etc.
OTHER THAN UNISA, WE ALSO ASSIST STUDENTS AT VARIOUS INSTITUTIONS
INCLUDING MANCOSA, REGENT, REGEYNESES, BOSTON, STADIO, OLG, UJ, UP
etc
For any enquiries the following numbers can be used for calling, sms, whatsapp and
telegram
CONTACT PASSMATE TUTORIALS @061 262 1185/068 053 8213/0717 513 144 OR
,PASSMATE TUTORIALS
IMPORTANT NOTES TO CONSIDER
THIS IS ONLY A GUIDELINE OF EXPECTED AND POSSIBLE QUESTIONS AND
ANSWERS, NO ONE SHOULD SUBMIT IT FOR FINAL ASSESSMENT.
STUDENTS SHOULD COMPLETE THEIR OWN ASSIGNMENT, BUT KEEP IN MIND
THE RULES/INSTRUCTIONS
AS A TIP, IF YOU FIND THIS GUIDE USEFUL, YOU CAN CALL/WHATASPP US IF
YOU WANT A UNIQUE AND CUSTOMISED SOLUTION, SOMETHING THAT WE
GIVE YOU ALONE AND NOT SHARED WITH OTHER PEOPLE NOR SOLD ON
STUVIA AND OTHER ONLINE SITES CONTACT PASSMATE TUTORIALS @061 262
1185/068 053 8213/0717 513 144 OR email
********************************************************************************************
AT PASSMATE TUTORIALS, WE WISH YOU THE BEST IN ALL YOUR STUDIES.
WE ARE YOUR MATES TO PASSING EXCELLENTLY IN ALL YOUR STUDIES.
DO NOT FORGET TO REACH OUT TO US FOR ANY FURTHER AND OTHER
ASSISTANCE!
GOOD LUCKY
PASSMATE TUTORIALS 061 262 1185/068 053 8213/0717 513 144
,5/4/24, 10:15 PM Assessment 3
FAC1502-24-S1 Welcome to FAC1502 Assessment 3
QUIZ
Time left 0:49:14
Question 1
Answer saved
Marked out of 1.00
State whether the following statement is true or false:
The cost of stationery used is included in the calculation of cost of sales.
Select one:
True
False
Question 2
Answer saved
Marked out of 1.00
State whether the following statement is true or false:
The classification inventory does not include consumable inventory which are consumed in the normal business activities.
Select one:
True
False
Question 3
Answer saved
Marked out of 2.00
On 1 July 20.1, Joe Traders bought machinery for R84 000 was given a 5% cash discount. BB Logistics delivered the machinery to Joe
Traders and charged R2 500. The machinery was installed for R4 500. Joe Traders uses the fixed instalment method and the machine will
be depreciated at 20% per annum. Joe Traders also purchased 1 000 boxes of A4 copier paper on 1 July 20.1 for R130 000. The financial
year-end of Joe Traders is 30 June.
What is total accumulated depreciation on 30 June 20.4?
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141)
2. Round off to the nearest Rand (eg: 50.56 is 51)
3. Only show the amount, do not show the R (eg: 12141)
Answer: 52080
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=18776668&cmid=842836#question-18992685-12 1/12
, 5/4/24, 10:15 PM Assessment 3
Question 4
Answer saved
Marked out of 2.00
The following balances appeared in the general ledger of Vice Traders on 30 June 20.2:
R
Inventory (1 July 20.1)……………………………………………… 60 000
Purchases…………………………………………………………… 80 000
Purchases returns………………………………………………….. 4 000
Settlement discount received……………………………………… 1 000
Sales…………………………………………………………………. 270 000
Customs duties……………………………………………………… 1 500
Carriage on purchases……………………………………………... 2 000
Carriage on sales…………………………………………………… 500
Settlement discount granted………………………………………. 3 000
Additional information:
Inventory on hand on 30 June 20.2 is R20 000.
The correct amount for the cost of purchases will be ...
NB: Instructions
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Only show the amount, do not show the R (eg: 12141.72)
Answer: 78500
Question 5
Answer saved
Marked out of 4.00
Please choose the correct option for the given scenario:
Consumable stores
on hand and prepaid
expenses will Current assets; statement of financial position.
disclosed as … in the
…
Commission income
and profit on sale of
a vehicle will be Other income; statement of profit or loss and other comprehensive income
disclosed as … in the
…
Cost of sales and
consumables will be
Distribution, administrative and other expenses; statement of profit or loss and other comprehensive income.
disclosed as … in the
….
Bank overdrafts and
accrued expenses
will be disclosed as Current liabilities; statement of financial position.
… in the …
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=18776668&cmid=842836#question-18992685-12 2/12
