NKUHLU DEPARTMENT OF

ACCOUNTING
ACCOUNTING FOR ATTORNEYS
AUD211E

TUTORIAL TEST 1
5 SEPTEMBER 2023

ASSESSOR: Mrs Nicola Sansom

TIME: 45 minutes

MARKS: 30

PAGES: 3 pages (including front page and required)

INSTRUCTIONS:
 Answer all the questions.

 Use the template provided to answer the question below.

 Show all workings clearly – marks are allocated to workings.

 Only handwritten scripts will be accepted.

 Scripts are to be submitted vis Blackboard within the given timeframes

 Students that contravene the rules in the General Prospectus of the University of
Fort Hare will be disciplined in accordance with said rules.

Question Topics covered Marks Minutes

1 The Accounting Equation 30 45
Total 30 45

1
QUESTION ONE (30 MARKS: 45 MINUTES)

Attorney’s Galore (Pty) Ltd is a large law firm that has their offices in East London.

Lwando Moni, a recently qualified Attorney, has asked you to assist him with understanding
the prior month’s accounting transactions. He has requested that you show the impact of
each transaction on the elements of the accounting equation for the month-ended 31 August
2023.

Attorney’s Galore (Pty) Ltd is a VAT vendor. The current VAT rate is 15%.

Date Transaction
1 The following contribution was made to the business:
* Cash amounting R175 000
The practice has set-up their offices in Vicent. The rental for the offices is R17 250 incl.
2 VAT per month. Rental is payable in advance on the first day of every month, which was
duly paid.

3 Charged fees for services rendered, amounting to R75 000 excl VAT. The client has
advised that the invoice will be settled on Wednesday, 6 September 2023.
4 Purchase stationery supplies on account, amounting to R11 500 incl. VAT.
5 Paid employees weekly wages, amounting to R10 000.

6 Lwando Moni took stationery, amount to R2 500 for personal use. (Ignore any VAT
implications on this transaction).

7 Paid membership fees to the Law Society amounting to R6 000 incl. VAT for the month of
August 2023.
8 Paid R55 000 towards the accounts payable.
9 Paid water and electricity amounting to R20 470 incl. VAT
10 Received interest on the current bank account, amounting to R175.

11 Received a deposit from a client for a future purchase of property amounting to R80 000.
The property will be bought within 12 months of the deposit date.

12 Charged fees for services rendered and received payment in cash amounting to R150
000 excl VAT.
13 Paid Salaries for the month of August 2023, amounting to R35 000.

14 The telephone account for August 2023, amounting to R13 800 was received, however,
this amount will only be paid during the month of September 2023.

Marks
QUESTION 1 – REQUIRED
Sub-total Total
1 Use the attached template to show the impact of each of the 30 30
above transactions on the elements of the accounting equation for
the month-ended 31 August 2023. Calculate the total assets,
owner’s equity and liabilities.
Total 30

2
University of Fort Hare
AAT323E
Tutorial Test 1 - 5 September 2023

Name
Student No

Company Name

Number Assets Owner's Equity Liability

Amount Account Description Amount Account Description Amount Account Description

Total Assets
Total Owner's Equity
Total Liabilities