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FAC1503 ASSESSMENT 4 SEM 2 OF 2025 EXPECTED QUESTIONS AND ANSWERS

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THIS DOCUMENT CONTAINS FAC1503 ASSESSMENT 4 SEM 2 OF 2025 EXPECTED QUESTIONS AND ANSWERS.USE IT AS A GUIDE AND FOR REFERENCE PURPOSES.

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Assessment 4

207578

Dashboard My courses FAC1503-25-S2 Welcome Message Assessment 4
111S dSSESSITIENL COVETS LIE COTILENL U1 I€dlTINg Ul | W0 /.


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Dashboard My courses FAC1503-25-S2 Welcome Message Assessment 4
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,At 30 June 2021, the financial year-end of Phutaditjhaba Traders, the annual depreciation adjustment still had to be
done. The balance of the Equipment (at cost price) account at 30 June 2020 was R80 000 and the balance of the
Accumulated depreciation: Equipment account at 30 June 2020 was R28 800. The balance of the Vehicles (at cost
price) account at 30 June 2020 was R100 000 and the balance of the Accumulated depreciation: Vehicles account at
30 June 2020 was R50 000. Phutaditihaba Traders uses the reducing-balance method to depreciate equipment at
20% per year and the straight-line method to depreciate vehicles at 25% per year. No equipment or vehicles were
purchased or sold during the financial year ending 30 June 2021.

Which one of the options below reflects the total annual depreciation amount for the equipment and vehicles in the
accounting records of Phutaditjhaba Traders for the year ended 30 June 20217




Select one:
O a R41000
@ b.R35240

O c. R28 500
O d.R22740

, Question 14
|
Answer saved On 9 April 2024 Alungile Attorneys received R205 000 from Dr Z Berana, being the estimated amount to register a
Marked out of property located in the southern suburbs of Johannesburg in her name. She gave written instruction that the
5.00 amount be invested in an interest-bearing fixed deposit account until the registration process is finalised.
On 15 April 2024, Alungile Attorneys invested the R205 000 in a fixed deposit account at Lerato Bank on behalf of
Dr Z Berana. All the investments are made in terms of section 86 of the Legal Practice Act 28 of 2014.
Required:
Record the transaction of 15 April 2024 in the applicable subsidiary journal of Alungile Attorneys.
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 (zero)
4. If a column name is not applicable, choose N/A from the dropdown menu.
5. Only show the amount, do not show the “R" (eg: 1000)



Trust cash receipts journal for April 2024


Date Details Investments Bank

R R

15 )
Dr Z Berana section 86(4) - Investment — Lerato Bank 205000.00 205000.00


205000.00 205000.00

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