4/26/25, 3:34 PM Assessment 3 (page 1 of 2)
UNISA 2025 FAC1502-25-S1 Welcome Message Assessment 3
QUIZ
Assessment 3
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Question 1
Dintsalo Trading, a registered VAT vendor, uses the periodic inventory system. The VAT rate is 15%.
Answer saved
The following is an extract from the financial records of Dintsalo Trading for January 2024:
Marked out of
20.00 R
Flag question Trade receivables: opening balance (1 January) 128 400
Credit sales 204 800
Cash receipts journal: Trade receivables column total (31 January) 167 400
Sales returns journal: Trade receivables column (31 January) 9 600
At month's end, the Bookkeeper completed a debtor’s reconciliation and found the following:
1. On 10 January, a client returned goods sold to him on credit in the amount of R3 860. This transaction was incorrectly recorded in the Purchases returns
journal instead of the Sales returns journal.
2. On 18 January, Mr J Bhaca, paid R2 740 cash in partial settlement of his account. This transaction has not yet been recorded.
3. The trade receivables column in the sales journal was overcast by R4 580.
4. Credit note no 20 for R330 was entered correctly to the sales account and the trade receivables control account in the general ledger but was not posted to the
specific debtors account in the trade receivables ledger.
5. It was noted that there were credit balances amounting to R2 056, that appeared in the trade receivables ledger. Further investigations disclosed that these
balances were in respect of transactions that were concluded with creditors accounts during December 2023.The inexperienced bookkeeper opened these
creditors accounts in the trade receivables ledger. The trade payables control account was, however, not affected by these incorrect entries.
6. Credit sales of R260 was posted correctly to the sales account and the trade receivables control account in the general ledger but was not posted to the specific
debtor’s account in the trade receivables ledger
7. On 15 January 2024 Dintsalo Trading was informed that S Swallows, a debtor who owed the entity R2 620, had been declared insolvent. The amount must be
written off as irrecoverable.
8. On 31 January 2024 DintsaloTrading charged interest on overdue clients’ accounts of R920.
Required:
Complete the trade receivables account in the general ledger of DintsaloTrading for the month ending 31 January 2024.
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
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, 4/26/25, 3:34 PM Assessment 3 (page 1 of 2)
2. Round off to the second decimal after the full stop (eg: 50.56)
Formulas: Adjusted Credit 3. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Sales = Original Credit 4. Only show the amount, do not show the "R" (eg: 1000)
Sales − Overcast Amount =
204,800 − 4,580 =
200,220.00 Adjusted Cash
Receipts = CRJ Total +
Unrecorded Payment = Dr Trade receivables control
167,400 + 2,740 = 2024 R 2024 R
170,140.00 Jan 1 Balance b/d Jan 1 Balance b/d
128400 0
Adjusted Sales
Returns = Original Sales 31 200220
31 170140
Sales SJ Bank CRJ
Returns + Incorrectly
Recorded Return = 9,600 +
3,860 = 13,460.00 Total Interest income GJ 920 Credit losses SJ 2620
Debits = Opening Balance
+ Adjusted Sales + Interest Sales returns SRJ 13460
= 128,400 + 200,220 + 920
Balance c/d Balance c/d
= 329,540.00 Total Credits 141264 141264
= Cash Receipts + Sales
Returns + Bad Debt + 329540 329540
Creditors Adjustment =
170,140 + 13,460 + 2,620 + Feb 1 Balance b/d Feb 1 Balance b/d
141264 141264
2,056 = 188,276.00
Closing Balance = Total
Debits − Total Credits =
329,540 − 188,276 =
141,264.00
Question 2
Answer saved The following information relates to KATLISO:
Marked out of Balances as at 31 August 20.3: R R
11.00
Flag question
Plant and machinery (at cost) 85 000
Accumulated depreciation: plant and machinery 46 600
Additional information
(a) According to the assets register, plant and machinery consist of two Faset machines of equal value. Both the machines were purchased by obtaining
a loan from Capital Bank and they were charged 15 % interest per annum and installed on the same date.
(b) Depreciation is written off at 20% per annum by the diminishing balance method.
(c) On 31 January 20.4, management decided to increase production capacity and purchased a KK machine on credit from Baker Ltd for R90 000. One
of the Faset machines was traded in, reducing the amount owing to Baker Ltd to R70 500.
(d) On 1 February 20.4, installation charges on the new machine amounting to R6 000 were paid in cash.
REQUIRED
Post the above transactions to the general ledger account provided below.
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)
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UNISA 2025 FAC1502-25-S1 Welcome Message Assessment 3
QUIZ
Assessment 3
Face not found. Try changing your camera to a better lighting. Thanks. ×
Back
Time left 0:17:09
Question 1
Dintsalo Trading, a registered VAT vendor, uses the periodic inventory system. The VAT rate is 15%.
Answer saved
The following is an extract from the financial records of Dintsalo Trading for January 2024:
Marked out of
20.00 R
Flag question Trade receivables: opening balance (1 January) 128 400
Credit sales 204 800
Cash receipts journal: Trade receivables column total (31 January) 167 400
Sales returns journal: Trade receivables column (31 January) 9 600
At month's end, the Bookkeeper completed a debtor’s reconciliation and found the following:
1. On 10 January, a client returned goods sold to him on credit in the amount of R3 860. This transaction was incorrectly recorded in the Purchases returns
journal instead of the Sales returns journal.
2. On 18 January, Mr J Bhaca, paid R2 740 cash in partial settlement of his account. This transaction has not yet been recorded.
3. The trade receivables column in the sales journal was overcast by R4 580.
4. Credit note no 20 for R330 was entered correctly to the sales account and the trade receivables control account in the general ledger but was not posted to the
specific debtors account in the trade receivables ledger.
5. It was noted that there were credit balances amounting to R2 056, that appeared in the trade receivables ledger. Further investigations disclosed that these
balances were in respect of transactions that were concluded with creditors accounts during December 2023.The inexperienced bookkeeper opened these
creditors accounts in the trade receivables ledger. The trade payables control account was, however, not affected by these incorrect entries.
6. Credit sales of R260 was posted correctly to the sales account and the trade receivables control account in the general ledger but was not posted to the specific
debtor’s account in the trade receivables ledger
7. On 15 January 2024 Dintsalo Trading was informed that S Swallows, a debtor who owed the entity R2 620, had been declared insolvent. The amount must be
written off as irrecoverable.
8. On 31 January 2024 DintsaloTrading charged interest on overdue clients’ accounts of R920.
Required:
Complete the trade receivables account in the general ledger of DintsaloTrading for the month ending 31 January 2024.
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=26693680&cmid=1106290# 1/6
, 4/26/25, 3:34 PM Assessment 3 (page 1 of 2)
2. Round off to the second decimal after the full stop (eg: 50.56)
Formulas: Adjusted Credit 3. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Sales = Original Credit 4. Only show the amount, do not show the "R" (eg: 1000)
Sales − Overcast Amount =
204,800 − 4,580 =
200,220.00 Adjusted Cash
Receipts = CRJ Total +
Unrecorded Payment = Dr Trade receivables control
167,400 + 2,740 = 2024 R 2024 R
170,140.00 Jan 1 Balance b/d Jan 1 Balance b/d
128400 0
Adjusted Sales
Returns = Original Sales 31 200220
31 170140
Sales SJ Bank CRJ
Returns + Incorrectly
Recorded Return = 9,600 +
3,860 = 13,460.00 Total Interest income GJ 920 Credit losses SJ 2620
Debits = Opening Balance
+ Adjusted Sales + Interest Sales returns SRJ 13460
= 128,400 + 200,220 + 920
Balance c/d Balance c/d
= 329,540.00 Total Credits 141264 141264
= Cash Receipts + Sales
Returns + Bad Debt + 329540 329540
Creditors Adjustment =
170,140 + 13,460 + 2,620 + Feb 1 Balance b/d Feb 1 Balance b/d
141264 141264
2,056 = 188,276.00
Closing Balance = Total
Debits − Total Credits =
329,540 − 188,276 =
141,264.00
Question 2
Answer saved The following information relates to KATLISO:
Marked out of Balances as at 31 August 20.3: R R
11.00
Flag question
Plant and machinery (at cost) 85 000
Accumulated depreciation: plant and machinery 46 600
Additional information
(a) According to the assets register, plant and machinery consist of two Faset machines of equal value. Both the machines were purchased by obtaining
a loan from Capital Bank and they were charged 15 % interest per annum and installed on the same date.
(b) Depreciation is written off at 20% per annum by the diminishing balance method.
(c) On 31 January 20.4, management decided to increase production capacity and purchased a KK machine on credit from Baker Ltd for R90 000. One
of the Faset machines was traded in, reducing the amount owing to Baker Ltd to R70 500.
(d) On 1 February 20.4, installation charges on the new machine amounting to R6 000 were paid in cash.
REQUIRED
Post the above transactions to the general ledger account provided below.
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)
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=26693680&cmid=1106290# 2/6
