FAC1503 Assignment 3 2025 - Due 17 April 2025

4/17/25, 2:09 AM Assessment 3 (page 2 of 2)


UNISA 2025 FAC1503-25-S1 FAC1503 - Financial Accounting Principles for Law Practitioners Assessment 3
QUIZ

Assessment 3



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Question 2
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A South is a partner in SA Traders. SA Traders (not a registered VAT vendor) commenced operations on 1 January 2022. The accounting
policies of SA Traders is as follows:
Marked out of
2.00 1. The periodic inventory system is applied
Flag question 2. Vehicles are depreciated over 5 years using the straight-line method
3. Computer equipment is depreciated at 12% per annum using the reducing balance method
4. Furniture is depreciated at 5% per annum using the reducing balance method

On 1 July 2022, SA Traders purchased a new laptop for office use to the amount of R14 500.

What will the depreciation be on the laptop for the financial year ending on 31 December 2022?

Select one:
a. R1 160,00

b. R870,00

c. R1 740,00

d. R2 610,00

Clear my choice




Question 3 On 1 January 2022, A South opened a hardware store, SA Stores, which is registered as a VAT vendor (the applicable VAT rate is 15%). The
Answer saved periodic inventory system and control accounts are in use. The amounts in the transactions are VAT inclusive, where applicable.
Marked out of
Duplicate cash sales invoice
2.00

Flag question
SA Stores
238 Swann Drive VAT registration number: 8960134750
P O Box 392

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