Fac1502 financial accounting principles concepts and procedures Guides d'étude, Notes de cours & Résumés
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Financial Accounting Principles Concepts and Procedures(FAC1502 Exam pack 2023)
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Financial Accounting Principles Concepts and Procedures(FAC1502 Exam pack 2023) 
 
Questions with 100% accurate answers.
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FAC1502 - Financial Accounting Principles, Concepts And Procedures
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FAC1502_ASSIGNMENT_2_SEMESTER_1_2023 FAC1502 - Financial Accounting Principles, Concepts And Procedures
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FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES AND CONCEPTS 2024
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FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES AND CONCEPTS 2024 
 
ACCOUNTING - Planning; Recording; analyzing; interpreting financial information. 
 
PLANNING DECISIONS - Financial information is used to determine future actions. Historical information provided by the accounting process serves as a basis for forecasting. 
 
CONTROL - Using financial information to evaluate the results of financial activities. 
 
THE FUNCTION OF ACCOUNTING - 1. The value added to the networth of a person/en...
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FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES AND CONCEPTS
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FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES AND CONCEPTS 
ACCOUNTING - Planning; Recording; Analyzing; Interpreting financial information. 
 
PLANNING DECISIONS - Financial information is used to determine future actions. Historical information provided by the accounting process serves as a basis for forecasting. 
 
CONTROL - Using financial information to evaluate the results of financial activities. 
 
THE FUNCTION OF ACCOUNTING - 1. The value added to the networth of a person/entity du...
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FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES AND CONCEPTS QUESTIONS AND ANSWERS PREPARED FOR: STUDENTS
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FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES AND CONCEPTS 
 
 
QUESTIONS AND ANSWERS 
 
 
PREPARED FOR: 
 
STUDENTS 
 
 
 
 
 
ACCOUNTING - Answer Planning; Recording; Analyzing; Interpreting financial information. 
 
PLANNING DECISIONS - Answer Financial information is used to determine future actions. Historical information provided by the accounting process serves as a basis for forecasting. 
 
CONTROL - Answer Using financial information to evaluate the results of financial activit...
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FAC1502 102/3/2020-Tutorial letter 102/3/2020-Financial Accounting Concepts Principles and Procedures
- Examen • 77 pages • 2021
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FAC1502 102/3/2020-Tutorial letter 102/3/2020-Financial Accounting Concepts Principles and Procedures/ FAC1502 102/3/2020-Tutorial letter 102/3/2020-Financial Accounting Concepts Principles and Procedures/ FAC1502 102/3/2020-Tutorial letter 102/3/2020-Financial Accounting Concepts Principles and Procedures
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FAC1502 EXAM PREPARATION 2021/2022 (Questions And Answers)
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FAC1502 EXAM 
PREPARATION 
2021/2022 (Questions 
And Answers) Make-it-Grow Salon bought hair trimming equipment from Wall Trimmers for R3 500 cash. 
What is the net effect of this transaction on the elements of the basic accounting equation? 
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A. 
Net effect on assets is R3 500 increase. 
 
• 
B. 
Net effect on assets is R0. 
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C. 
Net effect on equity is R3 500 decrease. 
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D. 
Net effect on assets is R7 500 increase. 
 
• 
E. 
Net effect on liabilities is R3500 increase. 
Answer ...
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FAC1502-Financial Accounting Principles, Concepts And Procedures LATEST EXAM PACK.
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FAC1502-Financial Accounting Principles, Concepts And Procedures LATEST EXAM PACK. QUESTION 1 SOLUTION 
DR P HEAL 
CASH RECEIPTS JOURNAL (CRJ) 
Doc 
Number 
Date 
MARETT 
Details BANK Debtors 
Control 
Fees 
earned 
VAT 
Output 
VAT 
Input 
SUNDRIES 
Amount Details 
450 1 K. Kelly 275 275 
451 1 J. Jail 1710 1500 210 
452 9 Y. Old 383 440 (7) (50) Settlement 
453&491 12 Deposit 9120 8000 1120 
Discount 
allowed 
11488 715 9500 1330 (7) (50) 
HINTS 
a) Whenever you sell a good or offer a service,...
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FAC1502 EXAM PREPARATION 2021/2022 (Questions And Answers)
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FAC1502 EXAM PACK 2022.
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FAC1502 EXAM PACK 2022. 
This is an all-inclusive and a complete guide to FAC1502 - Financial Accounting Principles, Concepts And Procedures. 
Disposals should be recorded @ carrying amount that is cast minus accumulated 
depreciation. 
b) Any assets bought during the year are recorded as additions. 
c) The depreciation per line item of assets refers to the total depreciation as added in 
the Accumulated Depreciation account. 
d) Assets acquired in previous years are recorded as an opening balan...