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Exam (elaborations)

FAC1501 Assignment 3 (Quiz) Semester 1 Memo | Due 13 April 2026

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Course Introductory Financial Accounting (FAC1501)
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FAC1501 Assignment 3 (Quiz) Semester 1 Memo | Due 13 April 2026. All correct answers shown.  Africa Traders, a registered VAT vendor, manufactures and sells renewable energy equipment. The VAT rate is 15% and Africa Traders makes use of the periodic inventory system. Extract from the financial records of Africa Traders for the month of January 2023: R VAT Input account opening balance (1 January 2023) 8 224 VAT Output account opening balance (1 January 2023) 6 630 VAT column in Purchases journal 19 315 VAT column in Sales journal 13 228 VAT column in Purchases returns journal 534 VAT column in Sales returns journal 338 Required: Complete the VAT Output account in the general ledger of Africa Traders for the month ending 31 January 2023. Instructions: 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Round off to the second decimal after the full stop (eg: 50.56) 3. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a 0 (eg: 0) Dr

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, 4/10/26, 12:13 AM FAC1501-26-S1: Assessment 3


FAC1501-26-S1 Welcome Message Assessment 3

QUIZ

Assessment 3



Opened: Thursday, 9 April 2026, 8:00 AM
Closes: Monday, 13 April 2026, 11:00 PM


527985

You must have completed the required activities for Learning Units 1 to 9 in order to prepare for this assessment.

Kindly note that you will only be able to view your mark obtained for Mandatory Assessment 3 and the overall feedback for
Mandatory Assessment 3 after you have submitted your attempt.

You will be able to view the questions you have received for the attempt, with its answers and general feedback, after the
due date of Mandatory Assessment 3.

NB: Please complete this assessment using a computer. If not possible use the web browser of your phone. Some tables will
not be visible through the myModules app on a phone.



Attempts allowed: 2

To continue with this quiz attempt you must open your webcam, and it will take some of your pictures randomly during the
quiz.

Time limit: 1 hour

Grading method: Highest grade

Grade to pass: 50.00 out of 100.00


Summary of your previous attempts
Marks / Grade /
Attempt State 50.00 100.00 Review Feedback

1 Finished 47.50 85.00 Congratulations, you passed this assessment with
Submitted Friday, 10 a distinction. Keep up the good work.
April 2026, 12:13 AM



Highest grade: 85..00.
Overall feedback
Congratulations, you passed this assessment with a distinction. Keep up the good work.




https://mymodules.dtls.unisa.ac.za/mod/quiz/view.php?id=1317188 1/1

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