3/24/25, 10:20 AM Assessment 1 (page 1 of 2)
UNISA 2025 FAC1502-25-S1 Welcome Message Assessment 1
QUIZ
Time left 0:31:02
Question 1
Not yet answered
Marked out of 6.00
The accountant of Baw Baw Traders paid the weekly wages in cash, R1660.
Prepare the BAE incorporating the information from the above transaction in the table below by indicating the net effect (amount) and the
account debited and credited:
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. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Assets = Equity + Liabilities
-1660 -1660 0
Bank account credit Wages account debit Not applicable
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,3/24/25, 10:20 AM Assessment 1 (page 1 of 2)
Question 2
Not yet answered
Marked out of 3.00
On 20 April 20.2 Paarl Spaza had a bank overdraft balance of R1 850. On 21 April 20.2 Mr. W Willies, a debtor, made a direct payment of
R4 250 into the bank account of Paarl Spaza.
The correct NET effect of the transaction on each element of the basic accounting equation in the books of Paarl Spaza is ...
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. A decrease in an amount must be indicated by using a negative sign in front of the amount (eg: -1000.01)
4. An increase must be indicated by the amount without any sign (eg: 1000.01)
5. If an option is not applicable, please indicate with a zero "0".
Equity = Assets - Liabilities
R R R
0 -4250 -4250
Question 3
Not yet answered
Marked out of 6.00
Mpumalanga Traders received R7 130 cash for services rendered to a client and maintained a favourable bank balance.
Prepare the BAE incorporating the information from the above transaction in the table below by indicating the net effect (amount) and the
account debited and credited:
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. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Assets = Equity
7130 7130
Bank account debit Services rendered account credit
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,3/24/25, 10:20 AM Assessment 1 (page 1 of 2)
Question 4
Not yet answered
Marked out of 2.00
An entity has the following balances: Trade payables: R8 870; Bank: R105 780: Long-term loan: R99 970; Inventory: R19 950.
The equity of the entity according to the basic accounting equation is …
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: 16890
Question 5
Not yet answered
Marked out of 6.00
Naledi Traders received a loan of R100 000 from Nyiko Bank and the full amount was deposited into the bank account. Naledi Traders
had a favourable bank balance.
Prepare the BAE incorporating the information form the above transaction in the table below by indicating the net effect (amount) and the
account debited and credited:
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. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Assets = Equity + Liabilities
100000 0 100000
Bank account debit Not applicable Loan: Nyiko Bank credit
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, 3/24/25, 10:20 AM Assessment 1 (page 1 of 2)
Question 6
Not yet answered
Marked out of 6.00
The owner, MS Likonko withdrew R3 500 cash from the business bank account for personal use. The business maintained a favourable
bank balance.
Prepare the BAE incorporating the information form the above transaction in the table below by indicating the net effect (amount) and the
account debited and credited:
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. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Assets = Equity + Liabilities
-3500 -3500 0
Bank account credit Drawings account debit Not applicable
Question 7
Not yet answered
Marked out of 1.00
Indicate by choosing the correct option whether the following statement is true or false:
Equipment owned by an entity may be exchanged for a liability only and not for other assets.
True
False
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UNISA 2025 FAC1502-25-S1 Welcome Message Assessment 1
QUIZ
Time left 0:31:02
Question 1
Not yet answered
Marked out of 6.00
The accountant of Baw Baw Traders paid the weekly wages in cash, R1660.
Prepare the BAE incorporating the information from the above transaction in the table below by indicating the net effect (amount) and the
account debited and credited:
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. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Assets = Equity + Liabilities
-1660 -1660 0
Bank account credit Wages account debit Not applicable
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,3/24/25, 10:20 AM Assessment 1 (page 1 of 2)
Question 2
Not yet answered
Marked out of 3.00
On 20 April 20.2 Paarl Spaza had a bank overdraft balance of R1 850. On 21 April 20.2 Mr. W Willies, a debtor, made a direct payment of
R4 250 into the bank account of Paarl Spaza.
The correct NET effect of the transaction on each element of the basic accounting equation in the books of Paarl Spaza is ...
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. A decrease in an amount must be indicated by using a negative sign in front of the amount (eg: -1000.01)
4. An increase must be indicated by the amount without any sign (eg: 1000.01)
5. If an option is not applicable, please indicate with a zero "0".
Equity = Assets - Liabilities
R R R
0 -4250 -4250
Question 3
Not yet answered
Marked out of 6.00
Mpumalanga Traders received R7 130 cash for services rendered to a client and maintained a favourable bank balance.
Prepare the BAE incorporating the information from the above transaction in the table below by indicating the net effect (amount) and the
account debited and credited:
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. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Assets = Equity
7130 7130
Bank account debit Services rendered account credit
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,3/24/25, 10:20 AM Assessment 1 (page 1 of 2)
Question 4
Not yet answered
Marked out of 2.00
An entity has the following balances: Trade payables: R8 870; Bank: R105 780: Long-term loan: R99 970; Inventory: R19 950.
The equity of the entity according to the basic accounting equation is …
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: 16890
Question 5
Not yet answered
Marked out of 6.00
Naledi Traders received a loan of R100 000 from Nyiko Bank and the full amount was deposited into the bank account. Naledi Traders
had a favourable bank balance.
Prepare the BAE incorporating the information form the above transaction in the table below by indicating the net effect (amount) and the
account debited and credited:
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. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Assets = Equity + Liabilities
100000 0 100000
Bank account debit Not applicable Loan: Nyiko Bank credit
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, 3/24/25, 10:20 AM Assessment 1 (page 1 of 2)
Question 6
Not yet answered
Marked out of 6.00
The owner, MS Likonko withdrew R3 500 cash from the business bank account for personal use. The business maintained a favourable
bank balance.
Prepare the BAE incorporating the information form the above transaction in the table below by indicating the net effect (amount) and the
account debited and credited:
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. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Assets = Equity + Liabilities
-3500 -3500 0
Bank account credit Drawings account debit Not applicable
Question 7
Not yet answered
Marked out of 1.00
Indicate by choosing the correct option whether the following statement is true or false:
Equipment owned by an entity may be exchanged for a liability only and not for other assets.
True
False
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