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TOPIC: FAC1502 Assignment 2- DISCUSSION
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#11301
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 27
When I finish with a topic, I feel that i'll be able to tackle any qs but once I get to the assignment it's like I've forgotten everything! Everything is so twisted! Ugh...Anyways i still have my doubts in number 5 but moving on...

Qs 6

I got option 2 as my answer. Do u all agree?
Uneiza
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#11303
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 27
NUmber 7-
My answer is Option 2

Here's my working:

Gross Proft %=gross profit/sales revenue

x means gross profit
0.2=x / 300000

x=60 000
Cost of sales= sales - gross profit

COS = 300000 - 600000
=240000

So now we have the following info:

gross profit %= 0.2
cash sales= 300000
cash gross profit= 60000
cash COS= 240000

We have Total COS given to us=400000
So credit COS=160,000

Since we want to find credit sales AND we already have credit COS, we find the percentage of it( 300000/240000)=1.25
1.25*160000
=R200000

Next--->Debtor's Control Account

DR
60000
200000

CR
100000
160000

dO U GUYS agree?
Uneiza
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#11305
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 27
alsoran wrote:
While we ponder and discuss Q6 I thought I might try

Q12 - 3

Purchase price less trade discount is entered into books

(500 - (500 * 25/100) = 375

Cheers,


I got a different answer

475-(475*25/100)

R356,25

Therefore option 4.

Any thoughts?
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#11308
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 2
Question 15 is option 4

Vehicle 2:
(128 000 - 14 000) ÷ 4years
= 28 500
28 500 x 6 ÷ 12 (moths) = 14 250
128 000 - 14 250 = 113 750

Vehicle 3:
(132 000 - 15 000) ÷ 4years
= 29 250
29 250 x 6 ÷ 12 (moths) = 14 625
132 000 - 14 625 = 117 375

113 750 + 117 375
= 231 125

I did not include vehicle 1 as it was sold.

Thoughts?
Mosa Mokwana
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Last Edit: 2011/03/20 05:25 By Mosa The 1.Reason: Inserting brackets
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#11330
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 27
I have the same answer.
Uneiza
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#11346
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 82
Uneiza wrote
Qs 6 option 2 as my answer. Do u all agree?

Agreed Q6 -2

NUmber 7- My answer is Option 2

Agreed Q7 - 2


Q12 - I got a different answer

475-(475*25/100)

R356,25

Therefore option 4.

Any thoughts?


I assumed the amount is still to be paid and therefore the trade discount is taken into account and not the 5% discount.

Yours is correct if the amount was paid within the 20 days and the 5% discount was taken into account.

Cheers,
alsoran
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‘ “Would you tell me please which way I go from here?”
“That depends a good deal on where you want to get to,” said the Cat.
“I don’t much care where,” said Alice.
“Then it doesn’t matter which way you go,” said the Cat. ’
Alice in Wonderland
by Lewis Carol
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#11347
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 82
Mosa Mokwana wrote:
Question 15 is option 4

Thoughts?


Agreed Q15 - 4
alsoran
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‘ “Would you tell me please which way I go from here?”
“That depends a good deal on where you want to get to,” said the Cat.
“I don’t much care where,” said Alice.
“Then it doesn’t matter which way you go,” said the Cat. ’
Alice in Wonderland
by Lewis Carol
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#11348
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 54
Good day every one...

I was just wondering if any one will be willing to give me Assignmet 1 and 2...so I can do it...
O and where will I get the answers?

Thank you!

ekke777@hotmail.com
snevs
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*happy studies*

annemie
49356097@mylife.unisa.ac.za
Bcom IOP 98308 Final year (2014)

2nd Semester 2014 (FINAL semester!!!!)
[27 Oct IOP 3707] [4 Nov IOP 1504] [10 Nov HRM 3703] [20 Nov IOP 1503] [25 Nov IOP 3703]

Subjects already done:
IOP 3701, IOP 3704, IOP 3705, IOP 3706, MNG 3701, IOP 2606, LLW 2601, MNG 2601, HRM 3706, IOP 3702, IOP 2601, IOP 2602, IOP 2604, IOP 2607, MND 204T, ECS 1601, MNB 1601, IOP 2603, IOP 2605, ECS 1501, MNB 1501, FAC 1601, IOP 1601, FAC 1502, IOP 1501, INM 1013 and INM 1024.
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#11350
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 82
Announcement on MyUnisa

Question 6 will NOT be marked due to date issues with Afrikaans question

Cheers,
alsoran
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Last Edit: 2011/03/22 17:03 By alsoran.
‘ “Would you tell me please which way I go from here?”
“That depends a good deal on where you want to get to,” said the Cat.
“I don’t much care where,” said Alice.
“Then it doesn’t matter which way you go,” said the Cat. ’
Alice in Wonderland
by Lewis Carol
The administrator has disabled public write access.
 
#11353
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 2
alsoran wrote:
Announcement on MyUnisa

Question 6 will NOT be marked due to date issues with Afrikaans question

Cheers,

Hope they'll give us marks for that.
Mosa Mokwana
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#11355
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 82
Mosa Mokwana wrote:

Hope they'll give us marks for that.


Nope just excluded from the marking. So marks will be out of 19 instead of 20.

Cheers,
alsoran
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Last Edit: 2011/03/22 17:50 By alsoran.
‘ “Would you tell me please which way I go from here?”
“That depends a good deal on where you want to get to,” said the Cat.
“I don’t much care where,” said Alice.
“Then it doesn’t matter which way you go,” said the Cat. ’
Alice in Wonderland
by Lewis Carol
The administrator has disabled public write access.
 
#11359
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 2
alsoran wrote:
Announcement on MyUnisa

Question 6 will NOT be marked due to date issues with Afrikaans question

Cheers,

Hope they'll give us marks for that.
Mosa Mokwana
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#11364
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 0
I don't understand why it is so difficult for them to get the questions right.
I have only JUST STARTED this assignment, because I am doing 5 subjects

If people want to copy answers, let them, they are only hurting themselves since they won't be able to copy answers in the Exams

Personally I never copy anybody's answers because nobody is as smart as me and I could copy the wrong answer. LOL
Alison
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#11366
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 2
Where is Kyra the person who started this topic?...He seems to have gone AWOL, nowhere to be found.
Mosa Mokwana
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#11381
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 12
Firstly Mosa, my dad is very ill at the moment and I haven't been able to visit the website. Secondly, just to put it out there, I'm not a "HE".
Kyra
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#11383
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 82
Kyra wrote:
just to put it out there, I'm not a "HE".

I could of said I knew that instead I laughed. Sorry

Cheers,
alsoran
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‘ “Would you tell me please which way I go from here?”
“That depends a good deal on where you want to get to,” said the Cat.
“I don’t much care where,” said Alice.
“Then it doesn’t matter which way you go,” said the Cat. ’
Alice in Wonderland
by Lewis Carol
The administrator has disabled public write access.
 
#11387
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 12
It's fine!
Kyra
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#11427
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 82
Q17 -2

Starting balance 3000
Purchases 15000
Less Debit Note -1000
Paid Supplier -6000
Paid Supplier -3000
Interest Charges 20
Cancelled Debit Note 1000

Balance = 9020

All thoughts and comments welcome

Cheers,
alsoran
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‘ “Would you tell me please which way I go from here?”
“That depends a good deal on where you want to get to,” said the Cat.
“I don’t much care where,” said Alice.
“Then it doesn’t matter which way you go,” said the Cat. ’
Alice in Wonderland
by Lewis Carol
The administrator has disabled public write access.
 
#11467
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 1
Question 18 option 2
balance R6100
(150-105) = +R45
Undercast +R100
amendment +R70
amendment +R40
amendment -R30
this equals to R6325 hence option 2
kdutoit123
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#11469
Re:FAC1502 Assignment 2- DISCUSSION 3 Years, 7 Months ago Karma: 1
I think this is a great initiative, Thank you Kyra
kdutoit123
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