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FAC1502 Assignment 7 Elective Due 28 May 2024
R70.00
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1. UNISA
2. 2024
3. FAC1502-24-S1
4. Welcome to FAC1502
5. Assessment 7
QUIZ
Assessment 7
Completion requirements
Opens: Monday, 27 May 2024, 8:00 AM
Closes: Tuesday, 28 May 2024, 8:00 AM
Dear students,
Please take note of the following important information regarding Assessment Seven for FAC1502:
Assessment 7 unique number: 354983
The following information relates to SIYANDA:
R
119 000
R
65 240
Balances as at 31 August 20.3:
Plant and machinery (at cost)
Accumulated depreciation: plant and machinery
Additional information
(a) According to the assets register, plant and machinery consist of two Zeep machines of equal value. Both the
machines were purchased and installed on the same date.
(b) Depreciation is written off at 20% per annum by the diminishing balance method.
(c) On 31 January 20.4, management decided to increase production capacity and purchased a Zack machine
on credit from Thulani Ltd for R126 000. One of the Zeep machines was traded in, reducing the amount owing to Thulani Ltd
to R98 700.
(d) On 1 February 20.4, installation charges on the new machine amounting to R8 400 were paid in credit.
REQUIRED
Post the above transactions to the general ledger account provided below.
Instructions:
1. Do not type the amount with any spaces as separators for thousands (eg: 12141)
3. Only show the amount, do not show the “R” for the Rand sign (eg: 12141)
SIYANDA
GENERAL LEDGER
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