3/12/26, 10:19 AM FAC1501-26-S1: Assessment 1
3/12/26, 10: 19 AM FAC1501-26-S 1: Assessment 1
FAC1501-26-S1 Welcome Message Assessment I
QUIZ
Assessment 1
Opened: Thursday, 12 March 2026, 8:00 AM
Closes: Monday, 16 March 2026, 11 :00 PM
Summary of your previous attempts
Marks/ Grade/
Attempt State 30.00 100.00 Review Feedback
1 Finished 30.00 100.00 Congratulations, you passed this assessment
Submitted Thursday, 12 with a distinction. Keep up the good work.
March 2026, 10: 19 AM
Highest grade: 100..00.
Overall feedback
Congratulations, you passed this assessment with a distinction. Keep up the good work.
https://mymodules.dtls.unisa.ac.za/mod/quiz/view.php?id=1317186 2/2
, 3/12/26, 10:17AM Assessment 1 (page 2 of 3)
FAC1501-26-S1 Welcome Message Assessment 1
QUIZ
Question 2 Mr S Africa is the owner of SA Traders. On 31 March 2024, SA Traders owns equipment
Answer saved amounting to R150 000 and a delivery van, amounting to R100 000. Clients owe R36 000 for
goods sold to them on credit and SA Traders owes R86 000 for inventory purchased on credit.
Marked out of
SA Traders also has an unfavourable bank balance of R55 000.
3.00
Determine the equity of SA Traders as at 31 March 2024 by making use of the basic
accounting equation.
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. You must enter cents even if it is 0 (eg .00)
4. Only show the amount, do not show the R (eg: 12141.72)
5. If the net effect on the accounting equation is a decrease, please enter the amount as a
negative (eg: -12141.72)
Answer: 145000.00
The Basic Accounting Equation is Assets = Equity + Liabilities, therefore Equity = Assets í
Liabilities.
First calculate total assets:
Equipment 150000 + Delivery van 100000 + Debtors 36000 = 286000
Then calculate total liabilities:
Creditors 86000 + Bank overdraft 55000 = 141000
Now calculate equity:
Equity = 286000 í 141000 = 145000.00
Therefore, the equity of SA Traders
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=30906247&cmid=1317186&page=1 is 145000.00. 1/5
3/12/26, 10: 19 AM FAC1501-26-S 1: Assessment 1
FAC1501-26-S1 Welcome Message Assessment I
QUIZ
Assessment 1
Opened: Thursday, 12 March 2026, 8:00 AM
Closes: Monday, 16 March 2026, 11 :00 PM
Summary of your previous attempts
Marks/ Grade/
Attempt State 30.00 100.00 Review Feedback
1 Finished 30.00 100.00 Congratulations, you passed this assessment
Submitted Thursday, 12 with a distinction. Keep up the good work.
March 2026, 10: 19 AM
Highest grade: 100..00.
Overall feedback
Congratulations, you passed this assessment with a distinction. Keep up the good work.
https://mymodules.dtls.unisa.ac.za/mod/quiz/view.php?id=1317186 2/2
, 3/12/26, 10:17AM Assessment 1 (page 2 of 3)
FAC1501-26-S1 Welcome Message Assessment 1
QUIZ
Question 2 Mr S Africa is the owner of SA Traders. On 31 March 2024, SA Traders owns equipment
Answer saved amounting to R150 000 and a delivery van, amounting to R100 000. Clients owe R36 000 for
goods sold to them on credit and SA Traders owes R86 000 for inventory purchased on credit.
Marked out of
SA Traders also has an unfavourable bank balance of R55 000.
3.00
Determine the equity of SA Traders as at 31 March 2024 by making use of the basic
accounting equation.
NB: Instructions
1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)
2. Use a full stop to indicate any decimals (eg: 1000.01)
3. You must enter cents even if it is 0 (eg .00)
4. Only show the amount, do not show the R (eg: 12141.72)
5. If the net effect on the accounting equation is a decrease, please enter the amount as a
negative (eg: -12141.72)
Answer: 145000.00
The Basic Accounting Equation is Assets = Equity + Liabilities, therefore Equity = Assets í
Liabilities.
First calculate total assets:
Equipment 150000 + Delivery van 100000 + Debtors 36000 = 286000
Then calculate total liabilities:
Creditors 86000 + Bank overdraft 55000 = 141000
Now calculate equity:
Equity = 286000 í 141000 = 145000.00
Therefore, the equity of SA Traders
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=30906247&cmid=1317186&page=1 is 145000.00. 1/5
