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Fac1502 Assignment 1 Of Semester 2 2019

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2018/2019 Written for academic year
Institution University Of South Africa (Unisa)
Course FAC1502 - Financial Accounting Principles, Concepts and Procedures (FAC1502)
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FAC1502 Assionment 01 of 2nd semester 2019 with worked solutions

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FAC1502
ASSIGNMENT 01 OF 2ND SEMESTER 2019


1. 2
2. 4
3. 5
4. 1
5. 5
6. 3
7. 2
VAT Exclusive selling price : R6325 X 100/115 = R5500
Cost price : R5500X100/125 = R4400
8. 2 Debit Carriage on purchase, Credit bank. The periodic
inventory system is in use.
9. 3
12% X R150000 X 8/12 = R12000
Dr Trade receivable control R12000
Cr Interest income R12000
10. 1 A stale cheque is recorded in the CRJ
11. 3
A debit order is a payment therefore it is recorded in the
CPJ
12. 4

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