FAC1503
Assignment 1 Semester 1 2026
Detailed Solutions, References & Explanations
Unique number: 188805
Due Date: 19 March 2026
Terms of use
+27 81 278 3372 By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
, FAC1503-26-S1 FAC1503 - Financial Accounting Principles for Law Practitioners Assessment 1
QUIZ
Question 2
Not yet answered
Marked out of 6.00
The accountant of Fikile Attorneys paid the monthly salaries of R7 500 via an electronic funds transfer. Fikile Attorneys
maintained an unfavourable 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")
Assets = Equity + Liabilities
-7500.0 -7500.00 0
Bank account credit Salaries debit Not applicable
Assignment 1 Semester 1 2026
Detailed Solutions, References & Explanations
Unique number: 188805
Due Date: 19 March 2026
Terms of use
+27 81 278 3372 By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
, FAC1503-26-S1 FAC1503 - Financial Accounting Principles for Law Practitioners Assessment 1
QUIZ
Question 2
Not yet answered
Marked out of 6.00
The accountant of Fikile Attorneys paid the monthly salaries of R7 500 via an electronic funds transfer. Fikile Attorneys
maintained an unfavourable 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")
Assets = Equity + Liabilities
-7500.0 -7500.00 0
Bank account credit Salaries debit Not applicable
