The BMZ Academy @ 061 262
THE BMZ ACADEMY
@061 262 1185/068 053 8213
BMZ ACADEMY 061 262 1185/068 053 8213
, 3/24/25, 9:31 AM Assessment 1 (page 1 of 2)
FAC1502-25-S1 Welcome Message Assessment 1
QUIZ
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Question 1
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On 20 January 20.4, Sally Spaza had a bank overdraft balance of R1 660. On 21 January 20.4 Mrs. R Radebe, a tenant, made a direct
payment of R4 050 into the bank account of Sally Spaza for the monthly rent.
The correct NET effect of the transaction on each element of the basic accounting equation in the books of Sally 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
4050 4050 0
Question 2
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An entity has the following balances: Capital: R14 590: Trade payables: R3 240; Short-term loan: R2 570; Drawings: R690.
The total assets 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: 19710
CONTACT THE BMZ @>0612621185 068053 8213
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=24957456&cmid=1106288 1/4
, 3/24/25, 9:31 AM Assessment 1 (page 1 of 2)
Question 3
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Indicate by choosing the correct option whether the following statement is true or false:
Non -current liabilities such as long-term loans will be carried at the settlement value that can be obtained from selling the non-current
liability in an orderly disposal.
True
False
Question 4
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Big Deal Traders' accountant paid R4 720 via electronic transfer for the placement of a monthly advertisement in a local newspaper. Big
Deal Traders maintained an unfavourable 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
0 -4720
Not applicable Advertising account debit
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, 3/24/25, 9:31 AM Assessment 1 (page 1 of 2)
Question 5
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The owner, Dr Papadi withdrew R2 550 cash from the business bank account for personal use. The business 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 + Liabilities
-2550 -2550 0
Bank account credit Drawings account debit Not applicable
Question 6
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Jacksmith Traders received R6 220 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
6220 6220
Bank account debit Services rendered account credit
CONTACT THE BMZ @>0612621185 068053 8213
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THE BMZ ACADEMY
@061 262 1185/068 053 8213
BMZ ACADEMY 061 262 1185/068 053 8213
, 3/24/25, 9:31 AM Assessment 1 (page 1 of 2)
FAC1502-25-S1 Welcome Message Assessment 1
QUIZ
Time left 0:14:39
Question 1
Answer saved
Marked out of 3.00
On 20 January 20.4, Sally Spaza had a bank overdraft balance of R1 660. On 21 January 20.4 Mrs. R Radebe, a tenant, made a direct
payment of R4 050 into the bank account of Sally Spaza for the monthly rent.
The correct NET effect of the transaction on each element of the basic accounting equation in the books of Sally 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
4050 4050 0
Question 2
Answer saved
Marked out of 2.00
An entity has the following balances: Capital: R14 590: Trade payables: R3 240; Short-term loan: R2 570; Drawings: R690.
The total assets 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: 19710
CONTACT THE BMZ @>0612621185 068053 8213
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=24957456&cmid=1106288 1/4
, 3/24/25, 9:31 AM Assessment 1 (page 1 of 2)
Question 3
Answer saved
Marked out of 1.00
Indicate by choosing the correct option whether the following statement is true or false:
Non -current liabilities such as long-term loans will be carried at the settlement value that can be obtained from selling the non-current
liability in an orderly disposal.
True
False
Question 4
Answer saved
Marked out of 6.00
Big Deal Traders' accountant paid R4 720 via electronic transfer for the placement of a monthly advertisement in a local newspaper. Big
Deal Traders maintained an unfavourable 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
0 -4720
Not applicable Advertising account debit
CONTACT THE BMZ @>0612621185 068053 8213
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, 3/24/25, 9:31 AM Assessment 1 (page 1 of 2)
Question 5
Answer saved
Marked out of 6.00
The owner, Dr Papadi withdrew R2 550 cash from the business bank account for personal use. The business 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 + Liabilities
-2550 -2550 0
Bank account credit Drawings account debit Not applicable
Question 6
Answer saved
Marked out of 6.00
Jacksmith Traders received R6 220 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
6220 6220
Bank account debit Services rendered account credit
CONTACT THE BMZ @>0612621185 068053 8213
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