PASSMATE TUTORIALS
DISCLAIMER: THIS IS NOT AN OFFICIAL GUIDE FROM UNISA. THE FRAMEWORK
IS NOT PREPARED NOR APPROVED BY UNISA, RATHER REPRESENTS A
POSSIBLE SOLUTION TO THE TASK CONSISTENT WITH THEORY. THIS
FRAMEWORK IS ONLY INTENDED TO ASSIST STUDENTS IN GETTING STARTED
WITH THEIR ASSIGNMENT, AND IN NO CASE THIS DOCUMENT SHOULD BE USED
FOR CHEATING, THUS NO STUDENT IS ENCOURAGED TO COPY THIS
DOCUMENT, NOR ITS SECTIONS FOR SUBMISSION. WE BELIEVE THE
FRAMEWORK WILL BE A GOOD STARTING POINT AS IT WAS PREPARED BY OUR
TEAM OF PROFESSIONAL PRIVATE TUTORS WHO ARE EXPERTS IN THE FIELD,
AND IT WAS PREPARED USING VARIOUS SOURCES. ANY SIMILARITY WITH ANY
EXISTING THEORY OR DISCUSSION BY OTHER AUTHORS IS EXCUSED. THE
AUTHORS HOWEVER DO NOT CLAIM MONOPOLY TO KNOWLEDGE HENCE
MODIFICATION OF THE ANSWERS CONTAINED IN THIS FRAMEWORK MAY NOT
BE PROHIBITED AS IT CONTRIBUTES TO EXPANSION OF KNOWLEDGE. FOR ANY
FURTHER GUIDELINE ABOUT THE INFORMATION CONTAINED HERE AND THE
MODULE IN GENERAL, CONTACT PASSMATE TUTORIALS.
WE ASSIST WITH OTHER MODULES INCLUDING:
ECSs, FACs, MACs, MNGs, INTs, TRLs, HMEMS, PRMs, PROs, MNBs, DSC, QMI,
MNMs, MNO, MNPs, FIN, PUBs, MNMs, RESEARCH among others.
WE OFFER CLASSES, ASSIGNMENT GUIDELINES, EXAMINATION PREPARATION,
RESEARCH AND RESEARCH PROPOSALS, DISSERTATION EDITING etc.
OTHER THAN UNISA, WE ALSO ASSIST STUDENTS AT VARIOUS INSTITUTIONS
INCLUDING MANCOSA, REGENT, REGEYNESES, BOSTON, STADIO, OLG, UJ, UP
etc
For any enquiries the following numbers can be used for calling, sms, whatsapp and
telegram
CONTACT PASSMATE TUTORIALS @061 262 1185/068 053 8213/0717 513 144 OR
email
,PASSMATE TUTORIALS
IMPORTANT NOTES TO CONSIDER
THIS IS ONLY A GUIDELINE OF EXPECTED AND POSSIBLE QUESTIONS AND
ANSWERS, NO ONE SHOULD SUBMIT IT FOR FINAL ASSESSMENT.
STUDENTS SHOULD COMPLETE THEIR OWN ASSIGNMENT, BUT KEEP IN MIND
THE RULES/INSTRUCTIONS
AS A TIP, IF YOU FIND THIS GUIDE USEFUL, YOU CAN CALL/WHATASPP US IF
YOU WANT A UNIQUE AND CUSTOMISED SOLUTION, SOMETHING THAT WE
GIVE YOU ALONE AND NOT SHARED WITH OTHER PEOPLE NOR SOLD ON
STUVIA AND OTHER ONLINE SITES CONTACT PASSMATE TUTORIALS @061 262
1185/068 053 8213/0717 513 144 OR email
********************************************************************************************
AT PASSMATE TUTORIALS, WE WISH YOU THE BEST IN ALL YOUR STUDIES.
WE ARE YOUR MATES TO PASSING EXCELLENTLY IN ALL YOUR STUDIES.
DO NOT FORGET TO REACH OUT TO US FOR ANY FURTHER AND OTHER
ASSISTANCE!
GOOD LUCKY
PASSMATE TUTORIALS 061 262 1185/068 053 8213/0717 513 144
, 4/9/24, 2:04 PM Assessment 2
UNISA 2024 FAC1502-24-S1 Welcome to FAC1502 Assessment 2
QUIZ
Time left 1:33:23
Question 1
Not yet answered
Marked out of 1.00
Indicate by choosing the correct option whether the following statement is true or false:
The presence of a purchases account indicates that the periodic inventory system is in use.
Select one:
True
False
Question 2
Not yet answered
Marked out of 4.00
Please choose the correct option for the given scenario.
The correct closing transfer entries for the depreciation
credit the depreciation account and debit the profit or loss account.
account at the end of the financial year will be ...
The correct closing transfer entries for the sales
account at the end of the financial year will be ... debit sales and credit the trading account.
The correct closing transfer entries for the interest on
fixed deposit account at the end of the financial year will debit interest on fixed deposit and credit the profit or loss account.
be ...
The correct closing transfer entries for the credit losses
credit the credit losses account and debit the profit or loss account.
account at the end of the financial year will be ...
Question 3
Not yet answered
Marked out of 1.00
Indicate whether the following statement is true or false:
The profit or loss account are closed off to the statement of financial position for a financial year.
Select one:
True
False
CONTACT 0612621185/068053 8213/0717513144
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=17231756&cmid=842835 1/11
, 4/9/24, 2:04 PM Assessment 2
Question 4
Not yet answered
Marked out of 1.00
On 1 April 20.17 Trak Traders took up an insurance contract with Blue Sky Insurers for 24 months. The insurance policy was
effective with immediate effect and stipulated that all premiums for a year (a period of 12 months starts from 1 April each year) are
due by 1 April each year.
An extract from the list of balances of Trak Traders at year-end, reflected the following balances:
28 February 20.19 28 February 20.18
Premiums paid during the year ended *R17 520 *R19 020
payments for 12 months*payments for 12 months
The amount for insurance premiums and the short-term adjustment to be disclosed in the statement of financial position of Trak
Traders as at 28 February 20.19 will be …
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the nearest Rand (eg: 50.56 is 51)
3. Only show the amount, do not show the R (eg: 12141.72)
Answer: 1460
Question 5
Not yet answered
Marked out of 1.00
Indicate by choosing the correct option whether the following statement is true or false:
All the amounts in the profit or loss account excludes VAT amounts.
Select one:
True
False
CONTACT 0612621185/068053 8213/0717513144
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=17231756&cmid=842835 2/11
DISCLAIMER: THIS IS NOT AN OFFICIAL GUIDE FROM UNISA. THE FRAMEWORK
IS NOT PREPARED NOR APPROVED BY UNISA, RATHER REPRESENTS A
POSSIBLE SOLUTION TO THE TASK CONSISTENT WITH THEORY. THIS
FRAMEWORK IS ONLY INTENDED TO ASSIST STUDENTS IN GETTING STARTED
WITH THEIR ASSIGNMENT, AND IN NO CASE THIS DOCUMENT SHOULD BE USED
FOR CHEATING, THUS NO STUDENT IS ENCOURAGED TO COPY THIS
DOCUMENT, NOR ITS SECTIONS FOR SUBMISSION. WE BELIEVE THE
FRAMEWORK WILL BE A GOOD STARTING POINT AS IT WAS PREPARED BY OUR
TEAM OF PROFESSIONAL PRIVATE TUTORS WHO ARE EXPERTS IN THE FIELD,
AND IT WAS PREPARED USING VARIOUS SOURCES. ANY SIMILARITY WITH ANY
EXISTING THEORY OR DISCUSSION BY OTHER AUTHORS IS EXCUSED. THE
AUTHORS HOWEVER DO NOT CLAIM MONOPOLY TO KNOWLEDGE HENCE
MODIFICATION OF THE ANSWERS CONTAINED IN THIS FRAMEWORK MAY NOT
BE PROHIBITED AS IT CONTRIBUTES TO EXPANSION OF KNOWLEDGE. FOR ANY
FURTHER GUIDELINE ABOUT THE INFORMATION CONTAINED HERE AND THE
MODULE IN GENERAL, CONTACT PASSMATE TUTORIALS.
WE ASSIST WITH OTHER MODULES INCLUDING:
ECSs, FACs, MACs, MNGs, INTs, TRLs, HMEMS, PRMs, PROs, MNBs, DSC, QMI,
MNMs, MNO, MNPs, FIN, PUBs, MNMs, RESEARCH among others.
WE OFFER CLASSES, ASSIGNMENT GUIDELINES, EXAMINATION PREPARATION,
RESEARCH AND RESEARCH PROPOSALS, DISSERTATION EDITING etc.
OTHER THAN UNISA, WE ALSO ASSIST STUDENTS AT VARIOUS INSTITUTIONS
INCLUDING MANCOSA, REGENT, REGEYNESES, BOSTON, STADIO, OLG, UJ, UP
etc
For any enquiries the following numbers can be used for calling, sms, whatsapp and
telegram
CONTACT PASSMATE TUTORIALS @061 262 1185/068 053 8213/0717 513 144 OR
,PASSMATE TUTORIALS
IMPORTANT NOTES TO CONSIDER
THIS IS ONLY A GUIDELINE OF EXPECTED AND POSSIBLE QUESTIONS AND
ANSWERS, NO ONE SHOULD SUBMIT IT FOR FINAL ASSESSMENT.
STUDENTS SHOULD COMPLETE THEIR OWN ASSIGNMENT, BUT KEEP IN MIND
THE RULES/INSTRUCTIONS
AS A TIP, IF YOU FIND THIS GUIDE USEFUL, YOU CAN CALL/WHATASPP US IF
YOU WANT A UNIQUE AND CUSTOMISED SOLUTION, SOMETHING THAT WE
GIVE YOU ALONE AND NOT SHARED WITH OTHER PEOPLE NOR SOLD ON
STUVIA AND OTHER ONLINE SITES CONTACT PASSMATE TUTORIALS @061 262
1185/068 053 8213/0717 513 144 OR email
********************************************************************************************
AT PASSMATE TUTORIALS, WE WISH YOU THE BEST IN ALL YOUR STUDIES.
WE ARE YOUR MATES TO PASSING EXCELLENTLY IN ALL YOUR STUDIES.
DO NOT FORGET TO REACH OUT TO US FOR ANY FURTHER AND OTHER
ASSISTANCE!
GOOD LUCKY
PASSMATE TUTORIALS 061 262 1185/068 053 8213/0717 513 144
, 4/9/24, 2:04 PM Assessment 2
UNISA 2024 FAC1502-24-S1 Welcome to FAC1502 Assessment 2
QUIZ
Time left 1:33:23
Question 1
Not yet answered
Marked out of 1.00
Indicate by choosing the correct option whether the following statement is true or false:
The presence of a purchases account indicates that the periodic inventory system is in use.
Select one:
True
False
Question 2
Not yet answered
Marked out of 4.00
Please choose the correct option for the given scenario.
The correct closing transfer entries for the depreciation
credit the depreciation account and debit the profit or loss account.
account at the end of the financial year will be ...
The correct closing transfer entries for the sales
account at the end of the financial year will be ... debit sales and credit the trading account.
The correct closing transfer entries for the interest on
fixed deposit account at the end of the financial year will debit interest on fixed deposit and credit the profit or loss account.
be ...
The correct closing transfer entries for the credit losses
credit the credit losses account and debit the profit or loss account.
account at the end of the financial year will be ...
Question 3
Not yet answered
Marked out of 1.00
Indicate whether the following statement is true or false:
The profit or loss account are closed off to the statement of financial position for a financial year.
Select one:
True
False
CONTACT 0612621185/068053 8213/0717513144
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=17231756&cmid=842835 1/11
, 4/9/24, 2:04 PM Assessment 2
Question 4
Not yet answered
Marked out of 1.00
On 1 April 20.17 Trak Traders took up an insurance contract with Blue Sky Insurers for 24 months. The insurance policy was
effective with immediate effect and stipulated that all premiums for a year (a period of 12 months starts from 1 April each year) are
due by 1 April each year.
An extract from the list of balances of Trak Traders at year-end, reflected the following balances:
28 February 20.19 28 February 20.18
Premiums paid during the year ended *R17 520 *R19 020
payments for 12 months*payments for 12 months
The amount for insurance premiums and the short-term adjustment to be disclosed in the statement of financial position of Trak
Traders as at 28 February 20.19 will be …
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the nearest Rand (eg: 50.56 is 51)
3. Only show the amount, do not show the R (eg: 12141.72)
Answer: 1460
Question 5
Not yet answered
Marked out of 1.00
Indicate by choosing the correct option whether the following statement is true or false:
All the amounts in the profit or loss account excludes VAT amounts.
Select one:
True
False
CONTACT 0612621185/068053 8213/0717513144
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=17231756&cmid=842835 2/11
