Questions and Answers
What was the total cash received by Evergreen from rendered services in February 2024?
How much did Evergreen pay for security services?
What is the total amount of expenses incurred by Evergreen in February 2024?
Which transaction was a payment to settle an outstanding account?
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What was the credit purchase made by Evergreen in February 2024?
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Study Notes
Mr. T Moleleng's Business Overview
- Mr. T Moleleng operates Evergreen, a small gardening service.
- Evergreen is not registered as a VAT vendor, impacting tax implications.
February 2024 Transactions
- A direct deposit of R5,000 received from Mr. Meyer for a partial debt settlement.
- Acquired a new lawn mower on credit for R4,299, indicating business expansion and investment.
- Paid R4,110 for security services utilizing a business debit card, reflecting ongoing business expenses.
- Spent R575 in cash for fuel for the lawn mower, showcasing operational costs.
- Provided landscaping services to Vacay Hotels on credit for R14,200, indicating services extended without immediate payment.
- Settled an outstanding account of R3,399 to Mr. Garden for landscaping staff training from December 2023, demonstrating financial management of past debts.
- Rendered landscaping services to Mrs. Baloyi, receiving R5,225 in cash, contributing to immediate cash flow.
Financial Implications
- Business experiences an unfavorable bank balance, suggesting liquidity issues.
- Management of credit transactions indicates a necessity for understanding customer payment behaviors and cash management strategies.
Quiz Performance
- Quiz was attempted on August 29, 2024, taking a total of 13 minutes and 49 seconds.
- Scored 10 out of 21, resulting in a grade of 47.62%, indicating areas that require further study and comprehension.
- Feedback suggests revising content and contacting lecturers for additional assistance if needed.
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Description
Test your knowledge with Quiz 5 for Learning Unit 3 of the FAC1501 course. This quiz will cover key concepts and provide feedback on your performance. Prepare to strengthen your understanding and achieve a better score on your next attempt.
