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TOPIC: FAC1502 - 2012 Semester 2 ASSIGNMENT 1
#47079
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 8 Months ago Karma: 0
Almost there. Got 4 questions left to go. Still got ch9 and 10 in the SG to cover. Lots of hours this weekend and thank goodness I have 4 days study leave next week.
Landlord_ZA
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2013 S1: INF1520, COS2626, INF2611, STA1601, FAC1601
Modules completed: COS1511, COS1521, FAC1502, INF1505, INF1511, MNB1501, MNB1601.
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#47084
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 8 Months ago Karma: 0
Hi , I'm looking for a solution to FAC1502 Assignment 2, second semester for 2010. If somebody can assist , I would really apreciate it.
janicem
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#47109
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 8 Months ago Karma: 0
Q4. Cost price 100/125 * 3000 = 2400
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#47355
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 8 Months ago Karma: 0
@ Karma
Q.19 - how did u get to ur answer? i actualy hv no.4 as my answer but now i am bit confused.
how does the transaction (b) and (c) impact on the bank column for our CPJ? my understanding is they are both recorded correctly in the CPJ bank column rather affecting the creditor's column and the rent account ledger. what i would have thought will affect my answer is actualy transaction (c)

Plz help
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#47357
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 8 Months ago Karma: 0
Hi there
Is there any of the group members staying around Kuilsriver, Bellville, Somerset West, Macassar and Eerste River doing the same modules as me. My modules for this semester are:

ECS 1501
MNB 1501
FAC1502

Is there any way that we can work out something and get together during the week after work.

Mirencia
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#47410
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 8 Months ago Karma: 0
hi wher can i find this link to download lemme know my email adress jamzkhan01@GMAIL.COM
jameel
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#47474
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 8 Months ago Karma: 0
Hi there
Sorry to bother just want to know how you got to your answer
Mirencia
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#47480
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 8 Months ago Karma: 0
Hi there
Could you please explain the answer for q14
Mirencia
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#47535
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 7 Months ago Karma: -79
My answer for q14:
Based on exercise 9.1 in study guide:
Bank Recon bs end Debit Credit
Balance as per bank statement (favourable) 17387
Deposit not yet deposited 1800
Cheque not yet presented for payment 200
Cheque not yet presented for payment 180
Favourable balance as per bank account 18807
19187 19187


Bank Recon bs start Debit Credit
Balance as per bank statement (favourable) 11350 <---- Swap bank statement balance (begin value)
Deposit not yet deposited 1800 (19187 - 1800 = 17387 ) 17387 <--Start balance as shown above
Cheque not yet presented for payment 200
Cheque not yet presented for payment 180
Favourable balance as per bank account 18807
19187 19187


Apply to question 14:

Bank Recon bs start Debit Credit
Balance as per bank statement (unfavourable) 1170
Deposit not yet deposited 20025 ( 54345 - 20025 = 34320 ) <--- Therefore either start balance is 34320 or 33150
Cheque not yet presented for payment 14775
Favourable balance as per bank account 38400
54345 54345

34320 - 1170 = 33150 shown above.
r_latief
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Last Edit: 2012/08/23 17:47 By r_latief.
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#47570
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 7 Months ago Karma: 12
my answer for q14:

bank account - preliminary balance(favourable) 38 400
add : cheques not yet presented for payment 14 775
less : deposit 20 025
less: bank charges 1 875
add: stop order for rent 2 700
less: municipal charge 3 525
add: interest of favourable bank balance 375

i got something off the net to help me so this is the answer i got to ... 3 as my answer

Farzaana
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Last Edit: 2012/08/23 20:37 By Farzaana.
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\"Be generous but not extravagant, be frugal but not miserly... Imam Ali (A.S)\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\"
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#47575
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 7 Months ago Karma: -79
Hi Farzaana,
I though initially 30825 is the answer initially, but according exercise 9.1 the following is already in bank account balance (ie 38 400) in GL which is then taken to reconcilliation account.
Bank Charges -1875 -1875
Rent Income 2700 825
Municipality -3525 -2700
Interest 375 -2325
Therefore, I can conclude they are ignored in bank recon statement. The above amounts go into CPJ and CRJ, then total of bannk column (of CRJ and CPJ) post to GL.

Please see if you can prove me wrong...
r_latief
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#47583
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 7 Months ago Karma: 0
hi Guys. I dont like this module. This is my second run at it. and the feeling is worse.

How are youl doing.
Tresh
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#47584
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 7 Months ago Karma: -79
I just realized the bank account amount of 38 400 has to be adjusted to include above amounts because question says they have not yet been posted to cash journels.
If the above amounts is posted to cash journels it results in 38 400 - 2325 = 36075.

Therefore,
Deposit not yet deposited 20025 ( 50850 - 20025 = 30825)
Cheque not yet presented for payment 14775
Favourable balance as per bank account 36075 <----Adjusted bank account balance
50850 50850
r_latief
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#47610
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 7 Months ago Karma: 0
hi there,

can somebody help me with Q13 I always get like 4000 when I try to check the reinvested amount it never comes up 4020, I know I am doing a mistake somewhere
kalinka
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#47619
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 7 Months ago Karma: 0
hi
I attend to agree with Farzaana got to the same answer 3. Guess what time it is, yest just after 12H00 trying to figure out the answer.
Mirencia
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#47630
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 7 Months ago Karma: -79
Interest @ 12% pa
Month01 200000 2000
Month02 202000 2020
4020
Add the interested earned from month 1 (ie 2000 ) to month 2.
You get interest on 2000 from month 1 as well for month 2.
r_latief
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#68872
Re:FAC1502 - 2012 Semester 2 ASSIGNMENT 1 1 Year, 1 Month ago Karma: 0
Can anyone tell me What was the correct answer for :

2012 Semester 2 Assignment 1

Question 19

Regards,
Tinki
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