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2024 Financial Accounting 1A Assignment 2

Diploma in information technology, damelin college bloemfontein.

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Programme bachelor of commerce in accounting /b bm/ diploma in, bm/b information, module financial accounting 1a / financial accounting 1/, introduction to accounting, module code 24_he_ft_dg_bm_fna110_y, nqf level 6, assessment type assignment 2, semester 1 st, due date 30 april 2024, total marks 70, pass mark 50%, weighting 20%, examiner berry masuk, this question paper consists of 5 pages including the cover page., instructions:, read the following instructions carefully:, 1. your assignment should be typed – arial font 12; 1 spacing; 1500 words. justified, 2. your submission must be presented in the following format:, a. coversheet, b. table of contents, c. introduction, e. conclusion, f. bibliography, (proof of research). not included in the word count., 3. use the harvard method of referencing., 4. you must consult at least five (5) different sources or preferably journals for, adequate referencing., 5. keep photocopies of all assignments handed in., 6. plagiarism and copying of assignments will result in the default mark 0% being, awarded. this is also a punishable offence, which will lead to a disciplinary action., 7. it is in your own interest to present your work neatly., important: individual assignment submission instructions, scroll down to the individual assignment section of your myclass page., click on the submission icon, click on the “add submission” button., you will be able to add your assignment here. take note of the maximum size that can be, uploaded, and how many attachments you are allowed., once you have added your attachment, it will appear in the file submissions block, click on, ‘save changes', it is important to note that the assignment is not submitted yet – it will state “draft (not, submitted)”, at this step, you are still able to edit your submission., should you click on “edit submission”, you will be taken back to step 4, where you will be, able to re-upload the correct document., to confirm the draft version that is already there, click on “submit assignment”., to confirm your submission, be sure to check the box that appears there, and then click on, once you have clicked on continue, you will see that the submission status has been, changed to “submitted for grading”, only once it states submitted for grading, the process of the online submission is complete., question 2 (40marks), company abc has march 31st year end. abc records adjusting entries on an annual, based on the following information provided below,, a) indicate what type of adjustment it is, the account name and if it a debit or credit., b) journalize the adjusting entry on march 31, 2017. (15marks), 1. at the end of the year, the unadjusted balance in the prepaid insurance account, was r1500. based on the analysis of the insurance policies, r1315 had expired, by the year end., 2. at the end of the year, the unadjusted balance in the unearned revenue, account was r2800. during the last week of march, r750 of this amount has, been earned., 3. on december 31, 2016, abc signed a note payable for r15000. the loan the, agreement stated that the interest was 5%., 4. depreciation for building was r13500 for the year., 5. at the beginning of the year, abc had r600 of supplies on hand. during the, year, r2340 of supplies were purchased. a count at the end of the year indicates, that r235 of supplies was left on march 31., 6. between march 29th and march 31st inclusive, four employees worked 7 hour, shifts at r14 per hour., 7. on march 31, it was determined that r7000 of service revenue had been, earned, but the bookkeeper did not record it., 8. abc performed services for clients totalling r4300. these services have not yet, been recorded., 9. purchased computer equipment on january 1, 2017 for r20000, paying r5 000, in cash and signing a r15000, two-year note payable. the equipment, depreciates r300 per month and the interest is r400 per month., 10. on march 15, 2017, sold r535 of gift certificate to a local sports club. on march, 31, 2017, determined that r240 of these gift certificates had not been redeemed..

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Course : Diploma in Information technology

University : damelin college bloemfontein.

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Course : Diploma in Information technology