FAC1602 ASSIGNMENT 1 FOR 2025 -
DUE 26 AUGUST 2025
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FAC1602 ASSIGNMENT 1
Grading method: Highest grade
SEMESTER 2
DUE: 26 August 2025
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Distribution of this document is illegal R13,625 per year?
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Question 1
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You are given the following information is for Engwenya Traders at 31 August 2024:
R
Capital 253 000
Sales 278 300
Credit losses recovered 7 400
Cost of sales 117 300
Operating expenses 68 900
On May 15, 2024, the owner, withdrew an amount of R15 200 to pay for the school fees for one
of her nephews. She further withdrew R40 500 on 18 June 2024 to pay for a family trip to the
Olympics 2024 in Paris.
A stock take of the tables was conducted on July 31, 2024. During this assessment, it was
discovered that 3 tables, valued at R12 600, were damaged by the trailer when they were
transported to the storeroom.
These damaged tables were offered to the local church at a reduced price of R3 100 each. This
offer was accepted by the church and the tables were delivered at the church on 5 August 2024.
What is the correct capital balance in the statement of financial position of Engwenya Traders as
at 31 August 2024?
Instructions:
1. Round off all your answers to the nearest rand (eg: 50.56 = 51)
2. Don’t use any special characters (&) in your answer.
3. Do not use any abbreviations.
4. Do not use brackets () to indicate a negative amount, instead use the minus sign “–
“, e.g. (50) will instead be indicated as -50.
296800
Answer:
Downloaded by: Beautyschool | Want to earn
Distribution of this document is illegal R13,625 per year?
DUE 26 AUGUST 2025
written by
FENDTUTORIALS
www.stuvia.com
Downloaded by: Beautyschool | Want to earn
Distribution of this document is illegal R13,625 per year?
, Stuvia.com - The study-notes marketplace
FAC1602 ASSIGNMENT 1
Grading method: Highest grade
SEMESTER 2
DUE: 26 August 2025
Downloaded by: Beautyschool | Want to earn
Distribution of this document is illegal R13,625 per year?
, Stuvia.com - The study-notes marketplace
Question 1
Not yet answered
Marked out of 6.00
Flag question
Question text
You are given the following information is for Engwenya Traders at 31 August 2024:
R
Capital 253 000
Sales 278 300
Credit losses recovered 7 400
Cost of sales 117 300
Operating expenses 68 900
On May 15, 2024, the owner, withdrew an amount of R15 200 to pay for the school fees for one
of her nephews. She further withdrew R40 500 on 18 June 2024 to pay for a family trip to the
Olympics 2024 in Paris.
A stock take of the tables was conducted on July 31, 2024. During this assessment, it was
discovered that 3 tables, valued at R12 600, were damaged by the trailer when they were
transported to the storeroom.
These damaged tables were offered to the local church at a reduced price of R3 100 each. This
offer was accepted by the church and the tables were delivered at the church on 5 August 2024.
What is the correct capital balance in the statement of financial position of Engwenya Traders as
at 31 August 2024?
Instructions:
1. Round off all your answers to the nearest rand (eg: 50.56 = 51)
2. Don’t use any special characters (&) in your answer.
3. Do not use any abbreviations.
4. Do not use brackets () to indicate a negative amount, instead use the minus sign “–
“, e.g. (50) will instead be indicated as -50.
296800
Answer:
Downloaded by: Beautyschool | Want to earn
Distribution of this document is illegal R13,625 per year?
