term 2

EMS
LESSON 2: FINANCIAL LITERACY:
THE
WORKBOOK
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This lessons discusses trading businesses in
financial literacy and during the lesson you will
answer a few questions.

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Write down the correct
answers in this answer
book.

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DO QUIZ
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 EXAMPLE 1:
Ikasi Kofu Company, they use a profit mark-up of 20% on cost. On the 4th Goods were
sold to Femi Traders for R4 800 on credit. Issued invoice no.57

DEBTORS JOURNAL OF IKASI KOFU COMPANY -2022 MARCH DJ1

DOC
DAY DEBTOR FOL SALES COST OF SALES
NO

COST PRICE (CP) + PROFIT MARGIN (PM) = SELLING PRICE (SP)

CP

+PM

=SP

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 EXAMPLE 2:
On the 8th sold goods on credit for R3 600 to Hakim Suppliers.

DEBTORS JOURNAL OF IKASI KOFU COMPANY -2022 MARCH DJ1

DOC
DAY DEBTOR FOL SALES COST OF SALES
NO

COST PRICE (CP) + PROFIT MARGIN (PM) = SELLING PRICE (SP)

CP

+PM

=SP

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 ACTIVITY 1:
On the 12 merchandise sold on credit to Lethabo Traders for R900.
On the 18 Issued an invoice to Siyabonga suppliers for goods delivered to him on Credit,
R1200.

DEBTORS JOURNAL OF IKASI KOFU COMPANY -2022 MARCH DJ1

DOC
DAY DEBTOR FOL SALES COST OF SALES
NO

COST PRICE (CP) + PROFIT MARGIN (PM) = SELLING PRICE (SP)

CP

+PM

=SP

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 EXAMPLE 3:
Received R1500 on 2 March 2022 D Dakarai as partial payment on his account, issued
receipt 34.

Cash receipt journal of Ikasi Kofu company for March 2022 CRJ1

DIVERSE ACCOUNTS
DOC ANALYSIS OF DEBTORS
DAY FOL BANK
NO. RECEIPTS CONTROL
AMOUNT FOL DETAILS

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 E N D O F A C T I V I T Y

WELL DONE

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Teachers Resource:

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Workbook created by M. Lourens

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