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* Dashboard x f Assessment 4 Group 2: 1 (•) X
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Question 4
You are the financial accountant of AC Traders. The entity is not registered as a VAT vendor, uses the perpetual inventory system, Not yet answered
and maintains a 30% markup on the cost price. Marked out of
30.00
Test 4
BHD
V Flag question
5
The following pertains to their transactions for the month of October 2025:
1. Oct 2: Inventory of R90 680 was bought on credit from Y May.
Finish attempt ...
2. Oct 4: The owner, Z Thembani, made a contribution of R93 830 cash and deposited the money directly into the business
bank account.
3. Oct 6: Cash sales of R109 200 were made. You have been requested to record both (a) the cash sale and (b) the cost of
sales.
4. Oct 10: A customer, A Mabele, returned goods previously sold on credit for R9 750. You have been requested to record both
(a) the sales returns and (b) the cost of sales.
5. Oct 12: The business paid R87 900 to Y May in full settlement of their account to take advantage of an early settlement
discount. You have been requested to record both (a) the settlement and (b) the early settlement discount.
6. Oct 15: The owner withdrew R8 700 cash for personal use.
7. Oct 20: A debtor, K Mabu, owing R7 650, was declared insolvent. The amount was written off as irrecoverable.
8. Oct 25: A salary of R7 200 was paid to the gardener.
9. Oct 28: The bank statement showed an EFT receipt of R7 430 from a debtor previously written off as irrecoverable.
REQUIRED:
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(iii) A decrease in an element must be indicated by using a negative sign in front of the amount (eg: -1000)
(iv) An increase must be indicated by the amount without any sign (eg: 1000)
(v) If a transaction is not applicable to an element (assets or equity or liabilities), then please put a 0 (zero) in the amount
column of that element (assets or equity or liabilities), (eg: 0)
(vi) If a transaction increases and decreases an element (assets or equity or liabilities), then please show the net effect in
the amount column of that element (assets or equity or liabilities)
(vii) Do not type in "R" for Rand in the numeric block
DATE ACCOUNT DEBITED ACCOUNT CREDITED ASSETS EQUITY LIABILITI
R R R
2 Oct Inventory ▼ Trade payables control ▼ 90680 0 90680
4 Oct Bank t Capital t 93830 93830 0
6 Oct Bank t Sales t 109200 109200 0
(a)
6 Oct Cost of sales t Inventory t -84000 -84000 0
(b)
10 Sales returns t Trade receivables control t -9750 -9750 0
Oct (a)
10 Oct Inventory t Cost of sales t 7500 7500 0
(b)
12 Oct Trade payables control ▼ Bank ▼ -87900 0 -87900
, * Dashboard x f Assessment 4 Group 2: 1 (•) X
cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=430787&cmid=72788&page=3
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Dashboard Calendar
Dashboard / My courses / FAC1502-26-S1 / General / Assessment 4 Group 2: 10:30 - 13:00
Bank Capital 93830 93830
6 Oct Bank Sales 109200 109200
(a)
6 Oct Cost of sales Inventory -84000 -84000
(b)
10 Sales returns Trade receivables control -9750 -9750
Oct (a)
10 Oct Inventory Cost of sales 7500 7500
(b)
12 Oct Trade payables control Bank -87900 -87900
(a)
12 Oct Trade payables control Settlement discount received 2780 -2780
(b)
15 Oct Drawings Bank -8700 -8700
20 Oct Credit losses Trade receivables control -7650 -7650
25 Oct Salaries Bank -7200 -7200
28 Oct Bank Credit losses recovered 7430 7430
* Dashboard x f Assessment 4 Group 2: 1 (•) X
cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=430787&cmid=72788&page=3 Finish update ;
UNISA university
o( south africa
myExams ▼
Dashboard Calendar
Dashboard / My courses / FAC1502-26-S1 / General / Assessment 4 Group 2: 10:30 - 13:00
Quiz navigation
Time left 1:12:39
Honour pledge
Question 4
You are the financial accountant of AC Traders. The entity is not registered as a VAT vendor, uses the perpetual inventory system, Not yet answered
and maintains a 30% markup on the cost price. Marked out of
30.00
Test 4
BHD
V Flag question
5
The following pertains to their transactions for the month of October 2025:
1. Oct 2: Inventory of R90 680 was bought on credit from Y May.
Finish attempt ...
2. Oct 4: The owner, Z Thembani, made a contribution of R93 830 cash and deposited the money directly into the business
bank account.
3. Oct 6: Cash sales of R109 200 were made. You have been requested to record both (a) the cash sale and (b) the cost of
sales.
4. Oct 10: A customer, A Mabele, returned goods previously sold on credit for R9 750. You have been requested to record both
(a) the sales returns and (b) the cost of sales.
5. Oct 12: The business paid R87 900 to Y May in full settlement of their account to take advantage of an early settlement
discount. You have been requested to record both (a) the settlement and (b) the early settlement discount.
6. Oct 15: The owner withdrew R8 700 cash for personal use.
7. Oct 20: A debtor, K Mabu, owing R7 650, was declared insolvent. The amount was written off as irrecoverable.
8. Oct 25: A salary of R7 200 was paid to the gardener.
9. Oct 28: The bank statement showed an EFT receipt of R7 430 from a debtor previously written off as irrecoverable.
REQUIRED:
, * Dashboard f Assessment 4 Group 2: 1 (•) X
cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=430787&cmid=72788&page=3
UNISA university
o( south afrka
myExams ▼
Dashboard Calendar
Dashboard / My courses / FAC1502-26-S1 / General / Assessment 4 Group 2: 10:30 - 13:00
(iii) A decrease in an element must be indicated by using a negative sign in front of the amount (eg: -1000)
(iv) An increase must be indicated by the amount without any sign (eg: 1000)
(v) If a transaction is not applicable to an element (assets or equity or liabilities), then please put a 0 (zero) in the amount
column of that element (assets or equity or liabilities), (eg: 0)
(vi) If a transaction increases and decreases an element (assets or equity or liabilities), then please show the net effect in
the amount column of that element (assets or equity or liabilities)
(vii) Do not type in "R" for Rand in the numeric block
DATE ACCOUNT DEBITED ACCOUNT CREDITED ASSETS EQUITY LIABILITI
R R R
2 Oct Inventory ▼ Trade payables control ▼ 90680 0 90680
4 Oct Bank t Capital t 93830 93830 0
6 Oct Bank t Sales t 109200 109200 0
(a)
6 Oct Cost of sales t Inventory t -84000 -84000 0
(b)
10 Sales returns t Trade receivables control t -9750 -9750 0
Oct (a)
10 Oct Inventory t Cost of sales t 7500 7500 0
(b)
12 Oct Trade payables control ▼ Bank ▼ -87900 0 -87900
, * Dashboard x f Assessment 4 Group 2: 1 (•) X
cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=430787&cmid=72788&page=3
z UNISA university
o( south ifrka
myExams
Dashboard Calendar
Dashboard / My courses / FAC1502-26-S1 / General / Assessment 4 Group 2: 10:30 - 13:00
Bank Capital 93830 93830
6 Oct Bank Sales 109200 109200
(a)
6 Oct Cost of sales Inventory -84000 -84000
(b)
10 Sales returns Trade receivables control -9750 -9750
Oct (a)
10 Oct Inventory Cost of sales 7500 7500
(b)
12 Oct Trade payables control Bank -87900 -87900
(a)
12 Oct Trade payables control Settlement discount received 2780 -2780
(b)
15 Oct Drawings Bank -8700 -8700
20 Oct Credit losses Trade receivables control -7650 -7650
25 Oct Salaries Bank -7200 -7200
28 Oct Bank Credit losses recovered 7430 7430
