5/14/25, 12:46 PM Assessment 5 Group 2 from 11:45 (page 1 of 2)
Membership fees of Gizmo Soccer Club was R600 per year for 20.1 and R650 per year for 20.2. On 31 December 20.1, it was noted that 5 members did not pay their membership fees for 20.1 and
6 members paid their membership fees for the 20.2 on 31 December. The financial year end of Gizmo Soccer Club is 31 December.
The membership fees account in the general ledger of Gizmo Soccer Club will be credited with … on 31 December 20.1.
Instructions:
1. Round off to the nearest Rand (eg: 50.56 is 51)
2. Only show the amount, do not show the R (eg: 12141)
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Answer: 3900.00
Question 2
Answer saved
Sales is R75 000. Mark-up on selling price is 15%. What is the cost of sales amount?
Marked out of 1.00
NB: Instructions
Flag question
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: 65217.39
Question 3
Answer saved
Indicate whether the following statement is true or false regarding debentures: Marked out of 1.00
Debentures may be secured by a mortgage. Flag question
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,5/14/25, 12:46 PM Assessment 5 Group 2 from 11:45 (page 1 of 2)
Select one:
True
False
Question 4
Answer saved
Joe Traders is not a registered VAT vendor. On 1 July 2023, Joe Traders bought machinery for R68 000 on credit from Malebo Machines. BB Logistics delivered the machinery at an additional cost Marked out of 2.00
of R4 100. Malebo Machines send a technician who installed the machinery and tested its operationality for R1 800. Joe Traders paid the delivery cost and installation cost with electronic funds
Flag question
transfers. The interest charged on the outstanding amount for the year ended 30 June 2024 was R11 020.
Depreciation is calculated on machinery at 20% per annum, using the straight-line method.
Required:
What will the depreciation on the machinery be that is recorded in the statement of profit or loss and other comprehensive income for the year ended 30 June 2024?
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: 18780.00
Question 5
Answer saved
Indicate whether the following statement is true or false regarding the statement of financial position:
Marked out of 1.00
Equity is determined by deducting total liabilities from assets.
OSCAR THE TUTOR
Flag question
+27737560989
for FAC MAC ECS DSC TAX QMI FIN INV BNU STA tutorials
Select one:
True
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, 5/14/25, 12:46 PM Assessment 5 Group 2 from 11:45 (page 1 of 2)
False
Question 6
The following information for December 2023 relates to Thoka Traders. Answer saved
Marked out of
1. The following information appeared in the bank reconciliation statement for November 2023.
35.00
Flag question
Bank reconciliation statement as at 30 November 2023
Debit Credit
R R
Unfavourable balance as per the bank statement 24 500
Outstanding deposit 205 7 500
Outstanding EFT no:
- No. 210 3 500
- No. 212 1 800
- No. 213 2 550
Credit correction of error 250
Unfavourable balance as per bank account 24 600
2. The following appeared in the cash journals, but not on the bank statement.
· Outstanding deposit of R3 000
· EFT 217 for R1 500 to NCA for stationery purchased.
3. EFT no. 210, 212 appeared on the current bank statement for December 2023.
· The error made by the bank during November 2023 was corrected on the bank statement for December 2023.
· The outstanding deposit 205 does not appear in the current bank statement for December 2023.
4. An EFT for R3 550 was reflected in the Thoka Traders bank statement. This payment is not related to business and must be corrected by the bank.
5. A stop order for R550 in respect of the insurance paid to Insurers Ltd was cancelled on 30 November 2023.The amount was erroneously entered in the cash payments journal during
December 2023.
6. EFT 215 for R4 300 appeared twice on the bank statement.
7. M Mokgokone, a client made an EFT payment of R19 250 as payment on his account. The bookkeeper was incorrectly entered the amount in the cash receipts journal as R19 070.
8. A debit order to Brand Ltd for R2 520.The transaction had not been taken into account in the cash journals
9. An EFT payment to NCA Stationers for R27 880 was incorrectly recorded as R25 180 in the cash payments journal.
10. Balances and subtotals at the end of December 2023.
https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=311331&cmid=71897 3/6
Membership fees of Gizmo Soccer Club was R600 per year for 20.1 and R650 per year for 20.2. On 31 December 20.1, it was noted that 5 members did not pay their membership fees for 20.1 and
6 members paid their membership fees for the 20.2 on 31 December. The financial year end of Gizmo Soccer Club is 31 December.
The membership fees account in the general ledger of Gizmo Soccer Club will be credited with … on 31 December 20.1.
Instructions:
1. Round off to the nearest Rand (eg: 50.56 is 51)
2. Only show the amount, do not show the R (eg: 12141)
OSCAR THE TUTOR
+27737560989
for FAC MAC ECS DSC TAX QMI FIN INV BNU STA tutorials
Answer: 3900.00
Question 2
Answer saved
Sales is R75 000. Mark-up on selling price is 15%. What is the cost of sales amount?
Marked out of 1.00
NB: Instructions
Flag question
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: 65217.39
Question 3
Answer saved
Indicate whether the following statement is true or false regarding debentures: Marked out of 1.00
Debentures may be secured by a mortgage. Flag question
https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=311331&cmid=71897 1/6
,5/14/25, 12:46 PM Assessment 5 Group 2 from 11:45 (page 1 of 2)
Select one:
True
False
Question 4
Answer saved
Joe Traders is not a registered VAT vendor. On 1 July 2023, Joe Traders bought machinery for R68 000 on credit from Malebo Machines. BB Logistics delivered the machinery at an additional cost Marked out of 2.00
of R4 100. Malebo Machines send a technician who installed the machinery and tested its operationality for R1 800. Joe Traders paid the delivery cost and installation cost with electronic funds
Flag question
transfers. The interest charged on the outstanding amount for the year ended 30 June 2024 was R11 020.
Depreciation is calculated on machinery at 20% per annum, using the straight-line method.
Required:
What will the depreciation on the machinery be that is recorded in the statement of profit or loss and other comprehensive income for the year ended 30 June 2024?
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: 18780.00
Question 5
Answer saved
Indicate whether the following statement is true or false regarding the statement of financial position:
Marked out of 1.00
Equity is determined by deducting total liabilities from assets.
OSCAR THE TUTOR
Flag question
+27737560989
for FAC MAC ECS DSC TAX QMI FIN INV BNU STA tutorials
Select one:
True
https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=311331&cmid=71897 2/6
, 5/14/25, 12:46 PM Assessment 5 Group 2 from 11:45 (page 1 of 2)
False
Question 6
The following information for December 2023 relates to Thoka Traders. Answer saved
Marked out of
1. The following information appeared in the bank reconciliation statement for November 2023.
35.00
Flag question
Bank reconciliation statement as at 30 November 2023
Debit Credit
R R
Unfavourable balance as per the bank statement 24 500
Outstanding deposit 205 7 500
Outstanding EFT no:
- No. 210 3 500
- No. 212 1 800
- No. 213 2 550
Credit correction of error 250
Unfavourable balance as per bank account 24 600
2. The following appeared in the cash journals, but not on the bank statement.
· Outstanding deposit of R3 000
· EFT 217 for R1 500 to NCA for stationery purchased.
3. EFT no. 210, 212 appeared on the current bank statement for December 2023.
· The error made by the bank during November 2023 was corrected on the bank statement for December 2023.
· The outstanding deposit 205 does not appear in the current bank statement for December 2023.
4. An EFT for R3 550 was reflected in the Thoka Traders bank statement. This payment is not related to business and must be corrected by the bank.
5. A stop order for R550 in respect of the insurance paid to Insurers Ltd was cancelled on 30 November 2023.The amount was erroneously entered in the cash payments journal during
December 2023.
6. EFT 215 for R4 300 appeared twice on the bank statement.
7. M Mokgokone, a client made an EFT payment of R19 250 as payment on his account. The bookkeeper was incorrectly entered the amount in the cash receipts journal as R19 070.
8. A debit order to Brand Ltd for R2 520.The transaction had not been taken into account in the cash journals
9. An EFT payment to NCA Stationers for R27 880 was incorrectly recorded as R25 180 in the cash payments journal.
10. Balances and subtotals at the end of December 2023.
https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=311331&cmid=71897 3/6
