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1 . 5 ) Prepare all the general journal entries to account for the contract with MasterCraft ( Pty ) Ltd in the records of
Prepare all the general journal entries to account for the contract with
MasterCraft Pty Ltd in the records of Machine Mania Pty Ltd for the
September financial year in accordance with the IFRS of the
International Financial Reporting Standards.
Note: The general journal entry relating to the maintenance contract should be
provided for in entry ie maintenance services for the applicable period
should be recognised in one general journal entry
Journal dates are required.
Journal narrations are not required.
Round all answers to the nearest Rand.
marks
HFACJulDecFACPV
ANNEXURE I: FORMATIVE ASSESSMENT
Prepare all the general journal entries to account for the contract with
MasterCraft Pty Ltd in the records of Machine Mania Pty Ltd for the
September financial year in accordance with the IFRS of the
International Financial Reporting Standards.
Journal dates are required.
Journal narrations are not required.
Round all answers to the nearest Rand.
Competency Framework Reference:
B
REPORTING FUNDAMENTALS
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