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
,10/14/23, 5:41 PM Assessment 4
UNISA 2023 FAC1502-23-S2 Welcome Message Assessment 4
QUIZ
Time left 1:40:40
Question 1
Not yet answered
Marked out of 9.00
On 1 September 20.18 Mr Will Turner started a new blacksmith business called Iron Duke. Iron Duke manufactures and sells
domestic cast iron furniture. The following transactions took place during the first financial year of the entity ending 31 August
20.19.
-. On 31 August 20.19, Mr Will Turner, decided to trade-in the old delivery van for a new delivery van. The trade-in value was
R14 500, and the cost of the new delivery van was R60 000, with the difference settled in cash. On the 1 September 20.18 the
owner, Mr Will Turner, contributed this delivery van which had cost R45 000 when new. The vehicle was bought on 1 September
20.16 by Mr Will Turner and had a carrying value of R27 000 on 1 September 20.18 with only 3 years useful life remaining.
Depreciation needs to be written off on the straight-line basis. (You only need to do the entries for the asset realisation.)
Show the effect of the asset realisation transaction on the basic accounting equation with a plus sign (+) for an increase
and a minus sign (-) for a decrease next to each amount under each element. Also indicate the account(s) that will be
affected by each transaction next to the affected elements for the financial year ended 31 August 20.19. (The business
makes use of the perpetual inventory system.)
Instructions:
Drag the correct answer into the correct space.
An option can be used more than once.
If an options has been provided and it is not applicable to the specific questions please put N/A in the accounts column and a 0 in
the amounts column.
Keep the transactions strictly in the order they were given.
-27 000 Vehicles -27 000 Asset realisation
+9 000 Accumulated depreciation +9 000 Accumulated depreciation
0 N/A +14 500 Asset realisation -14 500 Trade payables contro
-3 500 Loss on sale of asset
0 N/A
Loss on sale of asset Trade receivables control N/A Vehicles
Profit on sale of asset Accumulated depreciation Bank Depreciation
Asset realisation Trade payables control
+9 000 -18 000 +14 500 -27 000 +15 000 +27 000 -9 000 +3 500 +45 000 +18 000 +33 000 -15 000
0 -14 500 -33 000 -3 500 -45 000
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14173391&cmid=623193 1/13
, 10/14/23, 5:41 PM Assessment 4
Question 2
Not yet answered
Marked out of 6.00
You are provided with the following information for Lesidi Stores for the year ended 31 October 20.5:
R
Vehicles………………………………………………………………....................................... 550 000
Accumulated depreciation: Vehicles………………………………........................ 338 381
Equipment……………………………………………………………..................................... 600 000
Accumulated depreciation: Equipment……………………………...................... 240 000
Additional information:
Equipment X was purchased on 1 June 20.3 for R230 000(excluding VAT). Delivery costs were R1 800 and installation costs
was R3 000. Equipment X was sold for R132 000 cash on 1 March 20.5.
Depreciation on vehicles is calculated at 25% using the diminishing balance method.
Depreciation on equipment is calculated at 20% using the diminishing balance method.
The financial year-end of Lesidi Stores is 31 October.
The correct general ledger entries in the books of Lesedi Stores on 1 March 20.5 will be ...
Instructions:
Drag the correct answer into the correct space.
An option can be used more than once.
If an options has been provided and it is not applicable to the specific questions please put N/A in the account column and a 0 in
the amount column.
Keep general ledger entries strictly according to the steps for the disposal of an asset.
Equipment(at cost) 234 800 Accumulated depreciation: Equipment
N/A 0 Bank
Loss on sale of equipment
234 800
Accumulated depreciation: Equipment Bank Equipment(at cost)
Profit on sale of equipment Loss on sale of equipment N/A
Trade payables control Trade receivables control Depreciation
0 6 270 234 800 96 530 140 880 132 000 5 749 38 080 97 051 74 093 28 707
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14173391&cmid=623193 2/13
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
,10/14/23, 5:41 PM Assessment 4
UNISA 2023 FAC1502-23-S2 Welcome Message Assessment 4
QUIZ
Time left 1:40:40
Question 1
Not yet answered
Marked out of 9.00
On 1 September 20.18 Mr Will Turner started a new blacksmith business called Iron Duke. Iron Duke manufactures and sells
domestic cast iron furniture. The following transactions took place during the first financial year of the entity ending 31 August
20.19.
-. On 31 August 20.19, Mr Will Turner, decided to trade-in the old delivery van for a new delivery van. The trade-in value was
R14 500, and the cost of the new delivery van was R60 000, with the difference settled in cash. On the 1 September 20.18 the
owner, Mr Will Turner, contributed this delivery van which had cost R45 000 when new. The vehicle was bought on 1 September
20.16 by Mr Will Turner and had a carrying value of R27 000 on 1 September 20.18 with only 3 years useful life remaining.
Depreciation needs to be written off on the straight-line basis. (You only need to do the entries for the asset realisation.)
Show the effect of the asset realisation transaction on the basic accounting equation with a plus sign (+) for an increase
and a minus sign (-) for a decrease next to each amount under each element. Also indicate the account(s) that will be
affected by each transaction next to the affected elements for the financial year ended 31 August 20.19. (The business
makes use of the perpetual inventory system.)
Instructions:
Drag the correct answer into the correct space.
An option can be used more than once.
If an options has been provided and it is not applicable to the specific questions please put N/A in the accounts column and a 0 in
the amounts column.
Keep the transactions strictly in the order they were given.
-27 000 Vehicles -27 000 Asset realisation
+9 000 Accumulated depreciation +9 000 Accumulated depreciation
0 N/A +14 500 Asset realisation -14 500 Trade payables contro
-3 500 Loss on sale of asset
0 N/A
Loss on sale of asset Trade receivables control N/A Vehicles
Profit on sale of asset Accumulated depreciation Bank Depreciation
Asset realisation Trade payables control
+9 000 -18 000 +14 500 -27 000 +15 000 +27 000 -9 000 +3 500 +45 000 +18 000 +33 000 -15 000
0 -14 500 -33 000 -3 500 -45 000
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14173391&cmid=623193 1/13
, 10/14/23, 5:41 PM Assessment 4
Question 2
Not yet answered
Marked out of 6.00
You are provided with the following information for Lesidi Stores for the year ended 31 October 20.5:
R
Vehicles………………………………………………………………....................................... 550 000
Accumulated depreciation: Vehicles………………………………........................ 338 381
Equipment……………………………………………………………..................................... 600 000
Accumulated depreciation: Equipment……………………………...................... 240 000
Additional information:
Equipment X was purchased on 1 June 20.3 for R230 000(excluding VAT). Delivery costs were R1 800 and installation costs
was R3 000. Equipment X was sold for R132 000 cash on 1 March 20.5.
Depreciation on vehicles is calculated at 25% using the diminishing balance method.
Depreciation on equipment is calculated at 20% using the diminishing balance method.
The financial year-end of Lesidi Stores is 31 October.
The correct general ledger entries in the books of Lesedi Stores on 1 March 20.5 will be ...
Instructions:
Drag the correct answer into the correct space.
An option can be used more than once.
If an options has been provided and it is not applicable to the specific questions please put N/A in the account column and a 0 in
the amount column.
Keep general ledger entries strictly according to the steps for the disposal of an asset.
Equipment(at cost) 234 800 Accumulated depreciation: Equipment
N/A 0 Bank
Loss on sale of equipment
234 800
Accumulated depreciation: Equipment Bank Equipment(at cost)
Profit on sale of equipment Loss on sale of equipment N/A
Trade payables control Trade receivables control Depreciation
0 6 270 234 800 96 530 140 880 132 000 5 749 38 080 97 051 74 093 28 707
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=14173391&cmid=623193 2/13
