The owner, M Masisi, made a direct EFT of R14 920 from his personal savings account into the business's bank account. The business maintained an unfavourable bank balance.

Instructions for numeric responses:

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.  When an element decreases, use a negative sign in front of the amount (eg: -1000.01) 

4.  When an element increases, the amount will be without any sign (eg: 1000.01)

5. Only show the amount, do not show the "R" (eg: 1000)

6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")

Haga Traders provided services for a client, B Boleke, for R3 060, which was paid directly into the business bank account of Haga Traders. Haga Traders maintained a favourable bank balance.

Instructions for numeric responses:

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.  When an element decreases, use a negative sign in front of the amount (eg: -1000.01) 

4.  When an element increases, the amount will be without any sign (eg: 1000.01)

5. Only show the amount, do not show the "R" (eg: 1000)

6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")

On 17 January 20.2 Toyland Spaza had a favourable bank balance of R4 460. On 18 January 20.2 the bookkeeper of Toyland Spaza an EFT to Telkom to pay the amount of R5 800 for the telephone

expenses for December 20.1.

The correct NET effect of the

transaction on each element of the basic accounting equation in the books of Toyland Spaza is

...

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.  A decrease

 in

an amount must be 

4.  An increase must be 

indicated

by the amount without any sign

Indicate by choosing the correct option whether the following statement is true or false: 

The statement of financial position reports on the

assets, income and expenses as well as the liabilities of an entity for only

one day.

Naledi Traders purchased office stationery of R2 200 from Africa Stationers and paid with the business debit card. At the time of the purchase Naledi Traders had a favourable bank balance.

Instructions for numeric responses:

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.  When an element decreases, use a negative sign in front of the amount (eg: -1000.01) 

4.  When an element increases, the amount will be without any sign (eg: 1000.01)

5. Only show the amount, do not show the "R" (eg: 1000)

6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")

An entity has the following balances: Capital: R7 680; Bank (Cr): R4 740, Current portion of long-term loan: R7 880; Drawings: R550. 

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)

The owner, Mr. S Singh, contributed his private vehicle valued at R175 000 to the business. The business maintained a favourable bank balance.

Instructions for numeric responses:

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.  When an element decreases, use a negative sign in front of the amount (eg: -1000.01) 

4.  When an element increases, the amount will be without any sign (eg: 1000.01)

5. Only show the amount, do not show the "R" (eg: 1000)

6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")

Naledi Traders obtained a mortgage loan of R1 200 000 from Taeli bank and purchased a new office building for the full amount. Naledi Traders maintained a favourable bank balance.

Prepare the

BAE incorporating the information form the above transaction in the table below

by indicating the net effect (amount) and the account debited and credited:

Instructions for numeric responses:

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.  When an element decreases, use a negative sign in front of the amount (eg: -1000.01) 

4.  When an element increases, the amount will be without any sign (eg: 1000.01)

5. Only show the amount, do not show the "R" (eg: 1000)

6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")

Assessment 1 is based on 

If I miss an assessment due to illness the assessment will definitively be re-opened for me.