FAC1502 Assignment 4 Semester 1 2023

FAC1502 Assignment
4 Semester 1 2023
QUESTIONS WITH ANSWERS

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Question 1
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Marked out of
Indicate whether the following statement is true or false:
1.00
The entity needs to provide security to take out a mortgage.




Select one:
True

False

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Question 2
Answer saved

Marked out of Indicate whether the following statement is true or false:
1.00
A long-term borrowing will be shown at a redeemable amount on the statement of financial position.




Select one:
True

False

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Question 3
Answer saved

Marked out of Bradly Carstens is the owner Carsten & Sons Plumbing. On 30 October 20.2 you are given the following information
2.00 for Carsten & Sons Plumbing.



R

Clients owing for plumbing services rendered on credit 63 000

Equipment owned by Carsten & Sons Plumbing 80 000

Unfavourable bank balance 55 000

Carsten and Sons Plumbing owes suppliers for parts purchased on credit 45 000

Vehicles owned by Carsten and Sons Plumbing 210 000



What is the net asset value (equity) of Carsten and Sons Plumbing on 30 October 20.2?

NB: Instructions
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Only show the amount, do not show the R (eg: 12141.72)




Answer: 253000