2011_fac1502_test_seven_week_ten

2011_fac1502_test_seven_week_ten - FAC1502 TEST SEVEN WEEK...

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FAC1502 TEST SEVEN WEEK TEN Page 1 of 3 1 st Semester 2011 (41 MARKS) (49 MINUTES) QUESTION ONE (11 marks) (13 minutes) The following information was extracted from the accounting records of CheckBook Stores on 28 February 2010: Balances at 31 January 2010: Debtors Control 32 400 Creditors Control 25 200 Inventory 30 000 Balances at 28 February 2010: Debtors Control 24 000 Creditors Control 29 160 Inventory 36 000 Extract from cash payments journal at 28 February 2010: Payment to creditors 41 040 ADDITIONAL INFORMATION REQUIRED QUESTION TWO (4 marks) (5 minutes) On 30 April 2010 the following balances, inter alia, appeared in the books of Joe Soap Stores: Debtors Control 32 500 Creditors Control 35 800 Accrued Income 2 400 Accrued Expense 1 500 Prepaid Expenses 3 000 Income Received in Advance 1 600 Bank (overdraft) 9 700 Inventory 65 600 REQUIRED Calculate the total current assets as at 30 April 2010. 1.
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This note was uploaded on 02/27/2012 for the course IT 101 taught by Professor Unsure during the Spring '11 term at University of South Africa.

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2011_fac1502_test_seven_week_ten - FAC1502 TEST SEVEN WEEK...

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