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Dashboard / My courses / FAC1501-25-S1 / General / Assessment 4
Assessment 4
607211
You must have completed the activities for Learning Units 1 to 11, before the assessment will be available to you.
You will be able to view the questions you have received for the attempt, with its answers and general feedback, after the due date/time of
Mandatory Assessment 4.
NB: Please complete this assessment using a computer. If not possible use the web browser of your phone. Some tables will not be visible
through the myModules app on a phone.
Attempts allowed: 1
This quiz opened at Tuesday, 29 April 2025, 12:00 PM
This quiz will close on Tuesday, 29 April 2025, 6:00 PM.
To continue with this quiz attempt you must open your webcam, and it will take some of your pictures randomly during the quiz.
Time limit: 2 hours
Summary of your previous attempts
Grade /
State 100.00 Review Feedback
Finished 98.38 Congratulations, you passed this assessment with a distinction. Keep up
Submitted Tuesday, 29 April 2025, the good work.
2:47 PM
Your final grade for this quiz is 98.38/100.00.
Overall feedback
Congratulations, you passed this assessment with a distinction. Keep up the good work.
, Question 1
Answer saved
Marked out of 20.00
Machete Services specialises in repairing household appliances. The business is a registered VAT vendor. The VAT rate is 15%.
Time left 0:13:34
The following is an extract from the trial balance of Machete Services as at 31 March 2023:
Dashboard / My courses / FAC1501-25-S1 / General / Assessment 4
R
Services rendered 142 000
Insurance 7 000
Salaries 26 910
Water and electricity 3 290
Drawings 16 000
Required:
a) Record the closing transfers in the general journal for the following:
Services rendered
Insurance
Salaries
Water and electricity
Net profit/loss
Drawings
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. Please complete the journals in the order indicated through the narrations provided.
4. Only show the amount, do not show the R (eg: 1000)
General journal of Machete Services - March 2023
Description Debit Credit
R R
Services rendered 142000
Profit or loss account 142000
Closing transfer: Services rendered
Profit or loss account 7000
Insurance 7000
Closing transfer: Insurance
Profit or loss account 26910
Salaries 26910
Closing transfer: Salaries
Profit or loss account 3290
Water and electricity 3290
Closing transfer: Water and electricity
Profit or loss account 104800
Capital 104800
Closing transfer: Net profit/loss
Capital 16000
Drawings 16000
Dashboard / My courses / FAC1501-25-S1 / General / Assessment 4
Assessment 4
607211
You must have completed the activities for Learning Units 1 to 11, before the assessment will be available to you.
You will be able to view the questions you have received for the attempt, with its answers and general feedback, after the due date/time of
Mandatory Assessment 4.
NB: Please complete this assessment using a computer. If not possible use the web browser of your phone. Some tables will not be visible
through the myModules app on a phone.
Attempts allowed: 1
This quiz opened at Tuesday, 29 April 2025, 12:00 PM
This quiz will close on Tuesday, 29 April 2025, 6:00 PM.
To continue with this quiz attempt you must open your webcam, and it will take some of your pictures randomly during the quiz.
Time limit: 2 hours
Summary of your previous attempts
Grade /
State 100.00 Review Feedback
Finished 98.38 Congratulations, you passed this assessment with a distinction. Keep up
Submitted Tuesday, 29 April 2025, the good work.
2:47 PM
Your final grade for this quiz is 98.38/100.00.
Overall feedback
Congratulations, you passed this assessment with a distinction. Keep up the good work.
, Question 1
Answer saved
Marked out of 20.00
Machete Services specialises in repairing household appliances. The business is a registered VAT vendor. The VAT rate is 15%.
Time left 0:13:34
The following is an extract from the trial balance of Machete Services as at 31 March 2023:
Dashboard / My courses / FAC1501-25-S1 / General / Assessment 4
R
Services rendered 142 000
Insurance 7 000
Salaries 26 910
Water and electricity 3 290
Drawings 16 000
Required:
a) Record the closing transfers in the general journal for the following:
Services rendered
Insurance
Salaries
Water and electricity
Net profit/loss
Drawings
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. Please complete the journals in the order indicated through the narrations provided.
4. Only show the amount, do not show the R (eg: 1000)
General journal of Machete Services - March 2023
Description Debit Credit
R R
Services rendered 142000
Profit or loss account 142000
Closing transfer: Services rendered
Profit or loss account 7000
Insurance 7000
Closing transfer: Insurance
Profit or loss account 26910
Salaries 26910
Closing transfer: Salaries
Profit or loss account 3290
Water and electricity 3290
Closing transfer: Water and electricity
Profit or loss account 104800
Capital 104800
Closing transfer: Net profit/loss
Capital 16000
Drawings 16000
