CLASS: 9___ GRADE 9 EMS ACCOUNTING BOOKLET 2023Accounting Theory Accounting cycle Accounting Equation Cash Receipts Journal Cash Payments Journal General Ledger Debtors Journal, Debtors Allowance Journal and Debtors Ledger Creditors Journal, Creditors Allowance Journal and Creditors Ledger Trial Balance ACTIVITIESACCOUNTING THEORY ASSETS + Owned by the business and has value and can be converted into cash. + Non-current/ Fixed-Assets: help the business make money and aren't exchanged for money + Land and buildings + Vehicles + Equipment + Current assets: items that can be converted into cash + Trading stock + Amount owing by customers (debtors) + Money in bank + Cash in register + Petty cash OWNER’S EQUITY + Amount the business owes the owner + OE increases when business receives money and vice versa + Allincome and expenses classified as OE LIABILITIES: + Non-current + Mortgage bond + Loans + Current + Money owed by the business to other businesses (creditors, + Bank overdraftACCOUNTING CYCLE iO, ‘=’ GOODS AND SERVICES Sell products/merchandise/trading stock = SALESACCOUNTING EQUATION A=OE+L A: Assets O: Owner's Equity L: Liabilities SOURCE DOCUMENTS Proof that a payment was made to/by the business If the business RECEIVES money, it goes into the CRJ (Cash Receipts Journal) Ifthe business PAYS money, it goes into the CPJ (Cash Payments Journal) CRuJ (Received Money) CP¥ (Paid Money) Cash Sales / Cash Cash Register Roll Cash Register Roll Register (CRR) (CRR) Debit/Credit Card ane Roll a Roll EFT / Internet banking / Directly Bank Statement (B/S) _| Bank Statement (B/S) into bank account Interest Bank Statement (B/S) _| Bank Statement (B/S) Loan Bank Statement (B/S) _ | Bank Statement (B/S) Deposited money at oe o-osit SlipJOURNALS All journals get posted to the ledgers at the end of the month. CRI, CPJ, DJ, DAS, CJ, CAL Cash Receipts Journal [CRJ 1. 7. 10. u. Identify the business name. You are the accountant for the business, and for what month you doing the books for. Is it a service business or a Trading business ? In every transaction there are trigger words for the entries in the CRJ 2.9, received cash, issued original receipt/cash slip [CRR] Money coming in. Which TWO accounts are attected. If no column it goes to sundry account. Source Document: ‘* number in numerical order. e.g. Recelpt or CRR [ Cash Register Roll, RR for cash sales. Receipt if you require name of who paid you: «EFT or B/S for direct deposit in your account. * When dealing with Services Rendered according to the cash register roll, then the Doc Number Is always CRR. Analysis of receipts: * Money received through the til. + Holding spot for the day. «Always underline Analysis of Receipts after the last transaction for that date[day]. + Never total the Analysis of Receipts column. It's the “til”. Itis emptied every day so at the end of the month there isn't the whole month ‘amount of money in there Details: ‘© When you receive money for services rendered, you write ‘Services Rendered’ in details and record the amount in the Current Income column. [GRADES] ‘+ When you receive a EFT OR payment via intemet banking, you will record ‘the name of the person in details. * Ifit's a Trading business than in details you write sales and record the amount in the Sales and Cost of Sales columns. Write the total amount of money DEPOSITED for the day in Bank. Clues for CRJ: Received a EFT/Issued a receipt/cash received. Always record each transaction in two columns due to the double entry system. At the end of the month total all the columns. All the columns should equal up to the Bank, excluding Cost of Sales. BANK TOTAL = SALES+ DEBTORS CONTROL+ SUNDRY ACCOUNT TALWAYS EXCLUDE: COST OF SALES]CALCULATION CP = SP X 0 _ (oo+muy CP = Cost Price (Cost of Sales) SP = Selling Price SP = CP x GOH) MU = Mark up (%) mu = S2-£?) x 400 cP Link between Cost price, Cost of Sales and gross profit: Cost of sales [CP] + [ Mark Up [MU] = SELLING PRICE [SP] Sales - Cost of Sales = Gross Profit eg. make up 25% No. | Selling Price (in Rands) Cost Price (in Rants) Mark Up A 4500 45% B 5.000 15% c 12.000 4.000 D 11000 130% E 120 360% F 8 500 7 000 6 500 320 H 480 10% 1 900 28% J 750 500 kK 6800 120% L 6 750 200% M 1.500 500‘CASH RECEIPTS JOURNAL OF KYLIE’S SALON FOR MARCH 2017 DOC [DAY |DETANS | F | ANALYSIS | BANK | SALES | COST | DEBTORS | SUNDRY | FOL | ACCOUNTS | OF OF | CONTROL L | Receirr SALES Amount Details Ise cr} B/S |2 | Kylie 50 000 50.000 Capital cre |5 | sales 2000] 2000 _| 2000_| 1400 cre |7__|SALes 1200 1200 | 960 REC3 L.FOURIE 500 1700 500 53700 | 3200 | 2560 | 500 ‘50 000 Cash Payments Journal [CPJ 1. Source Document: "is what you holding in your hand when you record a payment we have madee” E.G: BANK STATEMENT, Via Internet banking If the transaction states it was directly deposited or paid via EFT then source document Is Bank Statement- B/S. 2. Name of Payee: “who did you pay look at the beneficiary list on your bank statement that is whose name of payee 3. Bank column amount in CPJ is the same amount you paid from bank account. You only record the actual amount at the bottom of the bank account the total amount. 4, Wages is paid in cash there for you write cash as the document you will be looking at to pay wages is a bank statement and it will have a cash withdrawal from it. To pay in cash the business draws cash from the ATM to pay the wages, therefore the bank statement is the source document and it will say cash withdrawal. ‘CASH PAYMENTS JOURNAL OF KYLIE'S SALON FOR MARCH 2017 DOC |D | Name | FOL] BANK | TRADING | STATIONERY | CREDITORS | SUNDRY | FOL | ACCOUNTS A | of STOCK CONTROL Y | Payee Amount Deteils B/S [2 | Nall 4000 | 4000 Supplier cool |5 | Game 2500 500 2000 Equipment cco2 [8 | Telkom 300 300 Telephone SA Lid B/S__| 12 | Makro 500 500 7300 | 4000__[ 500. 500 2300,| GENERAL LEDGER ORDER FOR THE GENERAL LEDGER BALANCE SHEET ACCOUNT SECTION OWNERS EQUITY B1- CAPITAL B2- DRAWINGS FIXED ASSET B3- LAND AND BUILDING B4- VEHICLES BS- EQUIPMENT CURRENT ASSETS B6- TRADING STOCK B7- DEBTORS CONTROL Ba- BANK BY- CASH FLOAT B10- PETTY CASH NON CURRENT LIABILITY B11-LOAN CURRENT LIABILITY B12- CREDITORS CONTROL B13- BANK “OVERDRAFT” NOMINAL SHEET ACCOUNT SECTION INCOME N1- CURRENT INCOME OR SALES N2- COST OF SALES N3- OTHER INCOME N4- DEBTORS ALLOWANCE EXPENSES NS. IN ALPHABETICAL ORDERCHEAT NOTE Assets Owners Liabilities Equity Current | Current Trading Stock Total investment Money owed by customers the owner has in Money business owes to (debtors) the business other businesses (creditors) Money in bank account Overdraft Cash in cash register Petty Cash Non-current / Fixed Non-current land and Bullings Bond / Mortgage Loan Equipment ei D Debtors Cc Creditors Business owes money to another business that was bought on credit (Affects a business's liabilities) Money is owed to the business from a person who buys on account/credit (Affects a business's liabilities) E Expenses L Liabilities Rent expense Wages Electricity Maintenance Water Repairs Bond i Mortgnae Stationery Interest Paid Salary Consumables A Assets I Income Current Income Faun ant Vehicle Sales ap Land & Buildings Rent Income Trading Stock am , Computers Interest Received Machinery D Drawings Cc Capital Personal Use eg. Owner takes trading stock for Money used to start/maintain a business personal use.GENERAL LEDGERS [GLI: 1. For every DEBIT there Is @ CREDIT and for every CREDIT there Is a DEBIT. Trading Business: e.g. Aunty Monty sells chips R 10 [SP] at the heart. [ CP 85] [you are the accountant for The Heart] Dic EL The heart's [Asset] Trading Stock [CHIPS] decreases [credit side] @)t The heart's [Asset] Bank [MONEY] increases [debit side]. Dic Dr___Bank cr Dr Soles cr R10 R10 DR Trading Stock CR DR Cost of Sales CR | RS RS 2, Remember when posting from Journals to General Ledger Indicate In the FOL column in the Journals where you are posting that information too 3. To add the correct FOL in the General Ledger where are you getting the info from- which Journal. CRJ, CPJ, DJ, CJ 4, If the business is a new business [1 month of operation] all journals are 1 e.g. CRJI, CPJ1, DJ and Ci OR if the business has been running for more than one month [ you will know this if there are balances from the month before.] Then you can make it any number more than 1 unless its stioulates how many months the business has been running or If not given. e.g. CRIB, CPJ3, DUS and C3 5. Steps in recording accounting transactions: * Record opening balances and totals from previous months Trial Balance or opening balances and totals that are given? [only if the business has been ‘open for more than 1 month.] se DEAD CLIC to determine which side to record balances and totals B accounts “1 Balance b/d” N accounts " 1 Total b/d” * Read the Transaction! - Determine the IWO Accounts. CASH or CREDIT transaction? If cash then BANK account.If credit then DEBTOR or CREDITOR replaces Bank. CATEGORISE the IWO accounts: USING DEAD CLIC - Hass the account & category INCREASED or DECREASED? - Refer to the DR CR TABLE to decide whether to debit or credit the TWO accounts. - For every DEBIT ENTRY there is an equal & corresponding CREDIT ENTRY. - BALANCING * ONLY Balance The balance sheet account section * Once you have posted all information from the journals to the right ‘accounts then you can balance. * C/D AND B/D are always on the opposite side from step 5 and step 6 EXAMPLE:Vehicle R 45 000 -31st March 2016 Vehicle bought by cheque on the -10th April 2016 R85 000 Vehicle sold at cost price on the -20"" April 2016 R35 000 Balance for April 2018 Vehicle is an asset. [INCREASE ON DEBIT SIDE AND DECREASES CREDIT SIDE] LEARN IMPORTANT STEPS TO BALANC! | STEP 1: PLOT ALL INFORMATION [ LOOK - OPENING BALANCES & LOOK AT ALL JOURNALS] Dr At VEHICLE A Ba cr = = cPJ2iiiss 000 STEP 2: WHICH SIDE |S BIGGER? THEN TOTAL THAT SIDE. Dr VEHICLE 84 cr 2016 ]1 [BALANCE | B/D ]45000 [2016 [20 [BANK [CRJ2 | 35000 APRIL APRIL | 10 | BANK CPJ2 | 85.000 eo 10 STEP 3: MAKE THE OTHER SIDE EQUAL‘DOES NOT EQUAL MAKE IT EQUAL “otal minue what you have] Dr VEHICLE B4 cr 2016 ]1 [BALANCE | B/D] 45000 [2016 ]20 |BANK |CRJ2 | 35000 APRIL APRIL 10 | BANK CPJ2_| 85 000 Teco | = STEP 4: IT DOES NOT EQUAL THE TOTAL SO MAKE THE OTHER SIDE EQUAL | Dr VEHICLE 84 | cr | 2016 |1 BALANCE B/D | 45000 2016 | 20 | BANK CRJ2 35 oop APRIL APRIL, 10 | BANK ‘CPJ2 | 85.000 fies ooo 130.000 130000 STEP 5: MAKE THE OTHER SIDE EQUAL [ ALWAYS C/D TO END OF MONTH] Dr VEHICLE B4 cr 2016 ]1 [BALANCE] 8/D]45000 [2016 | 20 | BANK CRI2 [35000 APRIL APRIL 10 | BANK CPJ2 | 85000 SB | 95000 130.000 130.000 MONTH STEP 6: BRING THE AMOUNT FORWARD TO THE NEW MONTH [ALWAYS B/D TO THE NEW Dr cr VEHICLE B42016 |1 [BALANCE | B/D] 45000 [2016 [20 | BANK CRJ2 | 35000 APRIL APRIL, 10 | BANK cPJ2 [85000 30_| BALANCE | C/D 95 000 130 000 130 000 11 NOMINAL SHEET ACCOUNT SECTION In the Nominal ‘Account Section Dr Cost of Sales write total in pencil N2 cr as it’s a running total. 2016 | 12 TRADING | CRJ2 | 5.000 APRIL STOCK 16 TRADING |DJ2 | 8.000 | I 13 000BIG 5 12 TRADING STOCK is fpore: fois march | 1 [paLance s/o. sooo|march |31|costorsais forse 4000] aE [BANK [crs 75000) a1 [costor sales [O14 000] at [BALANCE lero Trond] T7000] 17000] [APR 1 [BALANCE [so 1-000] DEBTORS CONTROL B7 haove fao1e march | 1 |BaLance _|p/> 10.000, MARCH | 31 [BANK crs | 8000] a [Sates Dia 15000] 31 [BALANCE Je/> [17000] 25.000] 25 000] lareic__| 1 [BALANCE [57> 17,000] DATE fore aaRcn foie MMaRCH DAY|DETAILS lbALANCE flOTAL RECEIPTS [BALANCE loan [BALANCE laALANCE. [RADING STOCK [RADING STOCK BANK be [AMOUNT [DATE [DAY[DETANS rou fzore aoood|warct | 31 |roraL Payments foie 20.009] 31 balance lesa 700 009] 30000] (CREDITORS CONTROL, faoie soop|marce | 1 [saLance 5 o00) 3 [TOTAL PURCHASES a5) [APRIL (COSTOF SALES 000] 4000] 2a00| (AMOUNT; 20000)DEBTORS 13 DEBTORS JOURNAL [4 1. When customers are allowed to buy on credit the DJ as money hasn't been received 2, Source Document: a [Credit] invoice. TRANSACTION: 6 D.Loubser came in to Kylie’s Salon and bought goods on credit for R3000, 1 55 XMS in to cRJit must go into was issued. 10 D Wallace purchased stock from Kylie’s salon & put it on her account. Issued 156. 6. Kylie’s Salon has 25% mark-up on cost. DEBTORS JOURNAL OF KYLIE’S SALON Doc | DAY | DETAILS FOL | SALES ‘COST OF SALE 155 [6 | D. Loubser Di_| 3000 2400 156 [10 | D. Wallace D2_[ 3800 3040 DEBTORS ALLOWANCES JOURNAL [DAJ 1. Debtor returns goods to supplier [the customer is not happy with the product they received] 2. Source Docu! duplicate Credit Note TRANSACTION: D.Loubser was unhappy with the quality of item there for she retumed the item to Kylie’s Salon. Debtors allowance journal of Kylle’s Salon DOC | DAY | DETAILS FOL | DEBTORS COST OF ALLOWANCES SALES CNS [15 __|D. Loubser 1000, 800 DEBTORS LEDGERS [DL] 1. Working out how much each Debtor's still in debt to the company. 2. The business still has RS 300 worth of assets outstanding from debtors. [1500 +3 800] [customers who owe them money]CREDITORS 14 CREDITORS JOURNAL [CJ 1. Used for items you [ the business] buy on creaitt from another business. 2. The bank column is replaced by Creditors control as no money was PAID. 3. Total amount of invoice your Business has received Is in the creditors control column, 4, Source Document: Original invoice received. TRANSACTION: Kylie went to Makro and bought on account: stock for R4 500, Consumables R1 000 and a chair for R 1000. CREDITORS JOURNAL OF KYLIE’S SALON FOR MARCH 2017 on DO |DA | DETAIL | FO [CREDITOR | TRADIN | CONSUMABLE | SUNDR | FO | DETAILS c jy |s Lis GS s Y L CONTROL STOCK 103 [10 | Makro 6 500 4500 | 1000 1000 Equiomen t CREDITORS ALLOWANCES JOURNAL [CAJ] DEBTORS LEDGER OF KYLIE’S SALON FOR MAY 20.17 D. LOUBSER DI DAY | DETAILS FOL | DEBIT CREDIT BALANCE 6 [Invoice 55 Ds1_| 3000 3000 10 | Receipt 9 CRI 1500 1500 15 | Credit Note 5 DAs 1000 ‘500 D. Wallace D2 DAY | DETAILS FOL | DEBIT CREDIT BALANCE 6 invoice 56 bu1_| 3800 3800 1. The value of goods retumed to the supplier due to a number of reasons. This reduces the total amount owed to the creditors. 2. Source Document: Duplicate Debit NoteTRANSACTION: Kylie was happy with the chair from Makro therefore she retuned it the chair to Makro. CREDITORS ALLOWANCE JOURNAL OF KYLIE'S SALON FOR MARCH 2017 DO |DA | DETAIL | FO | CREDITOR |TRADIN | CONSUMABLE | SUNDR | FO | DETAILS ce |y js Lis G 8 Y i CONTROL | STOCK DN | 15 | Makro 1000 1000) Equiomen 3 t CREDITORS LEDGER [Cl] 1, CL—What your business buys on credit from another business. 2. The bank column Is replaced by creditors control as no money was received. ‘CREDITORS LEDGER OF KYLIE'S SALOON MAKRO DATE DETAILS | FOL DEBIT ‘CREDIT BALANCE 2017 6500 6500 MAR 10 MAKRO__| CJT 15 MAKRO | CAJT 1000, ‘5500 20 MAKRO__| CPJI 1500, ‘5000 3. On the 207 March you paid Makro R1500 back therefore, your business still owes R4000 to Makro at the end of March 2017. TRIAL BALANCE 1. Summary of the accounts balances in the General Ledger. 2. Accuracy of the double eniry system is tested by doing a Trial Balance 3. The total of the debits should equal the credits 4, Only done at the end of the month. TRIAL BALANCE OF KYLIE SALON ON 31 MARCH 2017 BALANCE SHEET ACCOUNT FOL DEBIT ‘CREDIT SECTION OWNERS EQUITY CAPITAL Bl DRAWINGS. B2 FIXED ASSETS LAND AND BUILDING. B3 VEHICLES: Ba FURNITURE BS EQUIPMENT Bé CURRENT ASSETS TRADING STOCK 87 DEBTORS 8 BANK BeFIXED LIABILITY LONG TERM LOAN BIO | ‘CURRENT LIABILITY I CREDITORS. Bi I NOMINAL ACCOUNT SECTION ‘SALES NI ‘COST OF SALES N2 DISCOUNT RECEIVED N3 I COMMISSION INCOME N4 | RENT INCOME NS EXPENSES ALPHEBETICAL ORDER __| Né- PROFITS = INCOME — EXPENSES. SALES- COST OF SALES= GROSS PROFIT GROSS PROFIT + OTHER INCOME — ALL OTHER EXPENSES= NET PROFIT 16 ACTIVITY 1: Transaction Subsidiary Journal [book of 1* entry] ‘Cash received by us [other than for Sales} Cash Sales Credit sales Credit Purchase EFT Issued by you ‘Goods returned by us ‘Goods returned fo us ACTIVITY 2: CASH SALES TRADING BUSINESS RECORDED IN CRJ ‘COST PRICE + MARK UP = SELLINGPRICE COST OF SALES (R) = SALES [R] X 100 / (100 + MU) SALES [R] = COST OF SALES [R] X [100 + MU] / 100 Fill in the missing blocks AMY STORES 1 MUON CP IS100% | — WADESTORES MU ON CP IS 50%SALES. COST OF SALES SALES COST OF SALES 2000 1.000 6000 500 2.400 300 300 ALVIN STORES | MU ON CPIS 33 1/3% DAISY STORES MU ON CP IS 25 % SALES. ‘COST OF SALES SALES COST OF SALES 2.400 6000 4000 500 300 300 MU ON CP IS 3831/3 % MUON CPIS100% | MUON CP%IS25% | MUONCPIS 50% 100/133 1/3 OR 3/4 100/200 OR Ys 100/125 OR 4/5 100/150 OR 2/3 ACTIVITY 3: 17Working out Mark UP FORMULA:[SP-CP=MU] MU/CPX 100 1. John Deer brought trading stock for the business each item was bought at R450 and sold at R720. Work out John Deer's mark up. . Jimmy Choo bought the latest shoes for R230 and decided to sell the shoes for R900. Work out Jimmy Choo Mark-up. . Mr Fourie sells Bar-one chocolates at the girls waterpolo tournament for R11 he bought it from Makro for R8. Work out Mr Fourie's Mark-up per chocolate. . Bought goods for R400 & sold these same goods for R600. ANSWER SPACE: 1. ACTIVITY 4: Transactions of Saulse Dry Cleaners, owner Peter Saulse INSTRUCTIONS:(a)Show the effect of each of the transactions on assets and/or owner's equity. Use a + to show an increase and a - to show a decrease. Give the amount concerned and a reason in each case (b)Prepare a cumulative summary of the assets and owner's equity after each transaction. (¢) Calculate the total income. (a) Calculate the total expenses. (e) Calculate the profit. 1 P.Saulse started a business, Saulse Dry Cleaners, by depositing R150 000 in the current bank account of the business; issued receipt 01 2 Paid the local newspaper, Indaba, for advertising: PAID VIA EFT, R400 3 Rented floor space from Fisher Properties; paid by internet banking R1000 4 Bought delivery vehicle from Reeston Motors; paid by EFT, R120 000 5 Bought stationary from CA store: ; ald by EFT 004, R370 6 Paid via Internet banking R3 500 to MM Distributors for cleaning materials bought 7 Cash received for services rendered, cash register roll, R6 450 & Paid telephone account to Telkom by EFT, R360 9 Paid by internet banking to Mapede Traders for equipment bought, R15 000 10 Paid Council R 600 by EFT for water and electricity 11 Drew cash from the ATM to pay employees R1 800; for wages 12 Bought motorcycle for local delivery from Restion Motors; paid by EFT, R15 000 A Assets | Owners + | Liability Debit Credit = Equity 1 Zz 3 4 5 6 7 8 | 9 10 u 12 19 Summary:ACTIVITY 5: AOL Read the transactions and then Record the entries in the table below. Record the amounts and whether it is + or - Ex Issued a cheque fo pay wages, R3 000. The owner pala his son’s university fees by EFT, RS 000. Paid via internet banking to pay the business telephone a/c, 81 000. Sold goods for cash to Amy, RA0O. (Mark up on Cos price Is 33 1/3%] Bough! a truck from Ford and paid by EFT for 240 000. Recelved 820 000 from Nedoank as c loan airectty Into the bank a/c. Recelved R200 fram a tenant fo settle his rent of the business store room. Bought merchandise from Amy Stores for R7 000, px bby EFT. Sold goods on cred fo Gavin for R2 400. ( Mork Up on Cost price Is 30%) Bough! inventory on credit from Jenny Suppbers For R200, NO] Source | JNL | A/C DEBITin | A/C CREDITin A= OF L Document GL GL x cc CPI | WAGES E+O- | BANK A- = 3000 ~3000 | 0 20 ACTIVITY 6: AOL Study the given transactions and complete the accounting equation.Note: The bank has a favourable balance. Example: Received R2 500 for the rental of a storage room. Issued receipt 005. 1. Bought equipment on credit from TJ Wholesalers, R27 000. 2. Paid via EFT to repay a R3 000 loan from ABSA Bank. 3. Drew cash from the ATM to pay employees wages, R 5 500. 4, The owner took R800 from the business account to pay for his child Joe's birthday cake. 5. Received R3250 for sales. Mark up Is 35%. 6, Received R7500 for rent. NO] Source | JNL | A/C DEBITin GL] A/C CREDITin A= OF L Document GL & cc CPS [WAGES E+O- | BANK A- ~ 3000 -3 000 o 1 2 3 4 5 6 21 ACTIVITY 7: AOLSpongeBob owns a bakery called Krusty Cakes. Enter the transactions into the table below. 1. He pays R120 000 into the business as capital contribution. 2. Purchased stock worth R350. 3. He took out a loan worth R35 000. 4, Bought a fancy new mixer to the value of R12 000. 5. Paid MrKrabs his salary of R4 500. 6. Sold stock worth R1 000 (cost price R800) 7. Bought stationery to the value of R140. 8. Received RI 400 for rent of property. 9. Received R300 for services rendered. 10.Sold cakes worth RB 000 (cost price R3 800) ACCOUNT | ACCOUNT A OE (t DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 AOLEnter the transactions into the table below. ©) K. Ruby deposited R15 000 directly Into the business as capital contribution. 'b) The business made R700 from services rendered. Customer paid cash. ¢) Paid off a loan to the amount of R400, d) Paid wages to the workers fo the value of R15 000. Paid via EFT. €) Took Trading stock to the value of R6 500 for personal use. f] Received a new loan to the value of R10 000. Q) Paid R200 to the municipality for electricity via internet banking, h] Paid R8 800 for merchandise (cost of sales R6000). i) Received R600 for offering a service. Customer paid with debit card |) Received R1 000 cash for merchandise sold at his shop. k) Bought equipment worth R8 000 and paid via EFT. steps: Ieentiy the two accounts Identity the asset Is the asset going up (debit) or down (cre) Fil the asset into the correct account column (Debit OR Cred) Fill inthe other account column Filia the asset column (asset going up +, asset going down -) ‘The other account, which column does it belong in? A? L? OE? Journal Source Document Account DEBIT Account CREDIT Asset OE Liabilities xz |—|> Ia |>]0 JoJo |oja ACTIVITY 9: AOL 23@) J Hans, owner of Heartfelt Clothing, deposited R20 000 directly into the bank account as her capital contribution. b) Cash sales on trading stock worth R800 (cost of sales R320} ¢) Paid R9000 for rent via EFT. ) Paid wages to staff via EFT worth R9 500. e) Sales of clothing worth R900. Customer paid my debit card f) Paid R2150 to the municipality for electricity via internet banking g) Bought equipment for R8600 via EFT. h) Sold trading stock to the value of R750 (cost of sales R300) 1) Received R1600 for rent of a store room. Recelved ‘Stops: a 8 10. 1. 2 18, 4. Identify the two accounts Identity the asset Is the asset going up (debit) ‘or down (credit) Fl the asset into the correct account column (Debit OR reat) Flin the other account column Fl inthe asset column (asset going up +, asset going down -) The other account, which ‘column does itbelong in? 1A? L2 OE? payment via EFT. })_ J Haris took trading stock worth R240 for personal use. k) Bought stationery worth R475 and paid via internet banking. |) Services rendered to the value of R900. Customer paid by credit card. Source Account Account Joumal| Document DEBIT CREDIT Assets Owner's Equity | Liabilities 24Enter the following transactions into the Cash Receipts Journal and the Cash Payment Jounal for Steers in Humewood for month end August 2.21. Mark-up is 40% All columns should be added up and the totals should be written down in each column at the end of the month. Make sure that all columns balance at the end of the month, CRJ: Analysis of receipts, Bank, Current Income, Sundry Account CPJ: Bank, Equipment, Trading Stock, Wages, Sundry Account Transactions for August 2.19 1 LKondile, the owner, deposited R100 000 into the bank account of the business as his capital contribution. The business issued him with receipt 78. L Kondile paid the owner of the building, $ Reid, R4 000 for rental of the building and paid via EFT. Purchased consumables from Makro via EFT, R12 000. According to the Cash Register Roll, the business received R59 000 for sales. Mr J Cooper paid the business R31 500 for services rendered. Paid via EFT. 10 — Paid Core Suppliers for equipment purchased. Paid R2 300 via EFT. Paid Finn Cash & Carry for consumable purchased for the shop for R5 000 via credit card. Paid Waltons for stationery purchased and paid R500. Paid via intemet banking 16 Paid wages of R6 000 in cash. 19 Cash Sales R28 000. L Kondile invested another R65 000 as part of his capital contribution and the business. issued him with a receipt 24 Cash sales of R42 000. Purchased consumables from G Rogers for R60 000 and paid via debit card. 29 Paid cash for wages of R6 000. Paid the manager, P Dube, his salary of R9 000 via EFT. 25Cash Receipts Journal of ANALYSIS OF Doc DAY| DETAILS ~—_—FOL.| RECEIPTS BANK SALES SUNDRY ACCOUNTS COST OF | SALES |amount|Fou.|peTais Cash Payments Journal of NAME OF Doc.|DAY) PAYEE FOL, BANK ‘SUNDRY ACCOUNTS lamounTfroL| DETAILS ACTIVITY 11: GL & TRIAL BALANCE 26Take the CRJ and CPJ totals from the CRJ and CPJ for Steers Humewood and post them to the General Ledger GENERAL LEDGER OF STEER HUMEWOOD FOR AUGUST 2021 BALANCE SHEET ACCOUNT SECTION DATE DAY | DETAILS | FOL | AMOUNT | DATE | DAY | DETAILS | FOL | AMOUNT. 27 GENERAL LEDGER OF STEER HUMEWOOD FOR AUGUST 2021[DAY | DETAILS [FOL | AMOUNT | DATE | DAY TAILS | FOL | AMOUNT. 28Enter the following transactions into the Cash Receipts Journal and the Cash Payment Jounal for Mr Price Sport for month end December 2.21. Mark-up is 70% All columns should be added up and the totals should be written down in each column at the end of the month. Make sure that all columns balance at the end of the month, CRJ: Analysis of receipts, Bank, Current Income, Sundry Account CPJ: Bank, Equipment, Stationery, Salary, Sundry Account Transactions for December 2.19 1 R Andrews, the owner, deposited R500 000 into the bank account of the business as his capital contribution. Issued receipt 01 The owner, R Andrews, paid the owner of the building, M Grey, R7 000 for rental of part of the building and paid via EFT. Purchased stationery from CNA. Paid R85 000 via EFT. 6 According to the Cash Register Roll, the business received R60 000 for sales. L Meyer paid cash to the business R1 200 for sales. 10 Paid Shop4U for equipment purchased totalling R8 500 via EFT. Paid S Daniels her salary of R20 000. Paid via EFT. Paid R Stevens for materials purchased and paid R100 000 via EFT. 16 Paid wages of R70 000 via EFT 19 Cash Sales of R56 000. R Andrews invested another R250 000 as part of his capital contribution and the business issued him with a receipt. 24 Fees received for sales, according to the Cash Register Roll, totalled R22 000. Paid the manager, A Jackson, his salary of R30 000 and paid via EFT. 29Cash Receipts Journal of ANALYSIS OF Doc] DAY| DETAILS FOL RECEIPTS BANK | SALES SUNDRY ACCOUNTS COST OF | SALES |amount|Fou|peTais Cash Payments Journal of NAME OF Doc.|DAY) PAYEE FOL! BANK ‘SUNDRY ACCOUNTS lamountFou] DETAILS ACTIVITY 12: GENERAL LEDGER AND TRIAL BALANCE 30Take the CRJ and CPJ totals from the CRJ and CPJ for Mr Price Sport and post them to the General Ledger General Ledger of Dr cr Date | Day | Details [Foi[ Amount [Date [ Day | Details [Fol [Amount JALANCE SHEET ACCOUNTS SECTION 31 cr [Date | Day | Details [Fot[ Amount [Date | Day | Details. [Fol] Amount]NOMINAL SHEET ACCOUNTS SECTION Activi 4 CRJ& CPJ 32Brian Bands is a sport shop in Gqeberha that sells a variety of sporting equipment. All merchandise is sold at a mark-up of 80% REQUIRED 1. Enter the transactions in the cash Receipts and Cash Payments Journal for May 2.21 CRJ: Analysis of Receipts, Bank, Sales, Costs of Sales and Sundry Accounts. CPJ: Bank, Trading Stock, Wages, Stationery and Sundry Accounts. TRANSACTIONS 1 Owner, Peter Brian, paid R50 000 as his capital contribution and paid directly into the business bank account. 3 Paid RS 500 for wages and paid via EFT. Bought trading stock from sports world to the value of R7 800 and paid via EFT. 5 Cash sales of merchandise for R3 600 Received payment from A Saunders for rent of a building, R3 900 and paid via EFT. 9 Paid R5 500 for wages and paid cash 10 Bought stationery to the value of R400 to PNA and paid by debit card 11 Paid for rent of a storage facility, R800 and paid cash. 13 Cash sales of merchandise for R600 Standard Bank issued bank statement for interested eared of R140. 15 Paid stationery to PNA, R500, using a credit card 16 Paid Engen R660 for petrol. Paid cash. 17 Took R850 for the bosses daughters birthday present. 20 Cash sales of merchandise worth R5 850. Received R500 for services rendered. Customer paid cash 21 Paid NMB Municipality R1 800 for rates and taxes and paid via EFT. Paid Eskom R1 200 for electricity and paid via EFT. 24 Received merchandise from Simon's Sports values at R45 000 and paid via EFT. 25 Cash sales of R2 350 29° Cash sales of R6 000. 30 Owner, Peter Brian, increased his contribution to the business by R6 000 in the form of capital via EFT 33 CASH RECEIPTS JOURNAL OF FORDOC | DAY | DETAILS | FOL | ANALYSIS | BANK | SALES | COST | SUNDRY ACCOUNT OF OF RECEIPTS SALES | AMOUNT | FOL | DETAILS ‘CASH PAYMENTS JOURNAL FOR FOR Doc /DAY| NAMEOF |FOL| BANK ‘SUNDRY ACCOUNT PAYEE AMOUNT | FOL | DETAILS 34ACTIVITY 14: GENERAL LEDGER AND TRIAL BALANCE Take the CRJ and CPJ totals from the CRJ and CPJ for Brian Bands and post them to the General Ledger General Ledger of Dr cr Date | Day | Details [Fol] Amount [Date | Day | Details [Fol | Amount BALANCE SHEET ACCOUNTS SECTION 35Date | Day | Details Fol[ Amount [Date | Day | Details Fol ‘Amount NOMINAL SHEET ACCOUNTS SECTION 36 Trial Balance forDETAILS FOL | DEBIT CREDIT 37 ACTIVITY 15: GLUsing the information below to complete the following general ledger accounts for July 2.18 for Checkers Newton Park: Note: All accounts must be closed off properly at the end of the month. Cash Receipts Journal (CRJ6): Cash Payments Journal (CPJ6): Bank R100 000 Bank R45 700 Sales R24 000 Equipment R3000 Cost of Sales R16 000 Trading Stock R40 500 Equipment 12.000 Wages R2.200 Date] Day | Delais Fol] Amount | Dato] Day ] Details Fol] Amount BALANCE SHEET ACCOUNTS SECTION 4 ! EQUIPMENT a BS TRADING STOCK Be BANK Bs NOMINAL SHEET ACCOUNTS SECTION Sales Mt 38Cost of Sales N2 Wages N3 ACTIVITY 16: GL 39Using the information below to complete the following General ledger accounts for January 2.18 for The General Store: Note: All accounts must be closed off properly at the end of the month. ‘The following balances (amongst others) appeared in the books of Newton Park Spar on 1 January 2018: Trading Stock R9200 Bank (favourable) R14 000 Favourable means positive Extracted Totals of Journals on 31 January 2018: Cash Receipts Journal (CRJ16): Cash Payments Journal (CPJ16): Bank R31 500 Bank R13 500 Current Income 22.000 Trading Stock R11 500 Rent Income R7500 Water & Electricity 2.000 Date | Day | Details Fol | Amount [Date | Day | Details Fol | Amount BANK Bt TRADING STOCK a NOMINAL SHEET ACCOUNTS SECTION CURRENT INCOME M RENT INCOME 7 WATER & ELECTRICITY N3 40 ACTIVITY 47:‘The Heart is a cafeteria/tuckshop run within Alex High School. They sell a variety of food, treats and beverages to the students. The mark-up is 40% REQUIRED: Enter the transactions in the Cash Receipts and Cash Payments Journal for June 2.21 CRJ: Analysis of Receipts, Bank, Sales, Cost of Sales and Sundry Accounts CPJ: Bank, Trading Stock, Wages, Consumables. TRANSACTIONS 1 The owner, A Smith, paid R6 000 directly into the business bank account as his capital contribution. 2 Cash sales of R1 250 Received R1 500 for rent of The Atrium by K Glover who paid via EFT. 4 Paid wages of R2 400 and paid EFT. Received trading stock worth RS 400 from Coca-Cola and paid via EFT. 6 Cash sales of R2 300 9 Paid Makro for trading stock of R4 000 and R400 for consumables and paid via EFT. Received R800 for sales of merchandise. 12 Cash sales of R550. 13 Paid wages of 2400 via EFT. 18 Cash received for services provided, R50 19 Paid the Municipality R800 for water and electricity. 21 Cash sales of R6 900 24 Paid wages for R2 400 and paid cash 26 Bought trading stock from WestPack for R680 and paid using a credit card. 29 Cash sales of R900. Services rendered for R150 and customer paid cash. 30 __ Took R900 for personal use. Paid via EFT. 4lCASH RECEIPTS JOURNAL OF FOR DOC | DAY | DETAILS | FOL | ANALYSIS | BANK | SALES | COST | SUNDRY ACCOUNT OF OF RECEIPTS. SALES | AMOUNT | FOL | DETAILS CASH PAYMENTS JOURNAL FOR FOR Doc|DAY| NAMEOF [FOL] BANK ‘SUNDRY ACCOUNT PAYEE AMOUNT | FOL | DETAILS 42Activity 18: GL ‘Take the CRJ and CPJ totals from the CRJ and CPJ — Activity 1 (page 19) for The Heart and post them to the General Ledger. GENERAL LEDGER OF Date | Day Details Fol “Amnount Date [Day Details Fol ‘Amount 4344 DATE | DAY | DETAILS FOL | AMOUNT | DATE | DAY | DETAILS FOL AMOUNT Activity 19: CASH RECEIPT JOURNAL, CASH PAYMENTS JOURNAL AND DEBTORS JOURNALKevin and Gavin opened a Tennis gear shop, called Match Point. 1 2. Enter the following transactions into the correct journals HINT: You must remember to enter all the cash received into the Cash Receipts Journal and all credit sales into the Debtors Journal, NOTE: You will need Cash Receipts joumal with columns for: Document, Day, Details, Analysis of Receipts, Bank, Sales Cost of Sales, Debtors Control and Sundry Account © Cash Payments Journal with columns for: Document. Day. Name of Payee Bank. Trading Stock, Wages and Sundry Account Debtors Journal with the columns: Document number, Day, Details, Sales, Cost of Salles, General Ledger = Tial 8alance TRANSACTIONS FOR DECEMBER 2019 DAY 1 3 14 15 v7 21 23. 25. 29 31 31 Stock was delivered by T. Ree paid R2 800 via eft, Goods with a selling price of R82 were sold to X Mas on account. Invoice no 42 issued. Cost Price was R49. Bought R1500 worth of Equipment FROM MAKROO and paid by EFT. Paid employees their wages with cash, R5500, withdrawn from the bank. Merchandise was sold on account to AN Gel. The selling price was R250 and the cost price was R180 as per invoice 43. Paid employees their wages with cash, R5500. Cash sales were R600 according to the cash reaister roll. The cost price was R300. C Arol bought goods warth R270 on account. These goods had been marked up by 50% on the cost price invoice 44 issued to C Arol. Merchandise was sold on account to A N Gel. The Selling Price was R350 and the cost Price was R280 as per invoice 45. Paid employees their wages with cash, R500. Sold goods to C Aol with a selling price of R900 as per cash register roll. These goods were marked up by 100%. Paid Telkom the telephone account R 1000 and the owners private cellphone account R 850, via EFT, X Mas arrived at the store to pay for goods purchased on creaill earlier in the month. X Mas was given receipt no 29. Sold goods for cash. R650. These goods were marked up by 25% on cost. AN Gel settled her account as per, rec 30 given. Collected R80 commission from Jingle Bells. 45CASH RECEIPTS JOURNAL OF FOR DOC | DAY DETAILS | FOL ANALYSIS BANK | SALES) COST SUNDRY ACCOUNT OF OF RECEIPTS ‘SALES | AMOUNT | FOL | DETAILS CASH PAYMENTS JOURNAL FOR FOR Doc|/D| NAMEOF |F/ BANK CREDITOR | SUNDRY ACCOUNT A PAYEE ° s Y L CONTROL AMOUNT DETAILS ron 46DEBTORS JOURNAL OF Doc. | DAY DETAILS FOL. SALES COST OF SALES 47 GENERAL LEDGER OF DATE | DAY | DETAILS FOL | AMOUNT | DATE | DAY | DETAILS FOL | AMOUNT48 Trial Balance forDETAILS FOL CREDIT 49 Activity 20: CASH RECEIPT JOURNAL, CASH PAYMENTS JOURNAL AND DEBTORS JOURNAL3. Enler the folowing transactions into the correct jours of Season Retailers far the month of October 2018. HINT: You must remember to enter all he cash received into the Cash Receipts Journal and all crecit soles Into the Debtors Journal 4. Merchandise Is sold at cost price plus 25%. Al documents are isued in sequence. 5. Al the end of September 2018 ihe business had the folowing amounts owing To them by debtors. Frosty Winter: R600 Sunny Summer R400. Chilly Autumn R300 Pretty Spring) R100 6. .NOTE: You wil need: ‘= Cash Receipts joumal with columns for: Document, Day, Detals, Analysis of Receipts, Bonk, Sales Cost of Sates, Debtors Control and Sundry Account + Cash Payments Journal with colurnns for: Document, Day, Name af Payee Bank, Tracing Stock, ‘wages and Sundry Account ‘© Debtors Journal with the columns: Document number, Day, Details, Sales, Cost of Sales. General Ledger Tol balance TRANSACTIONS FOR OCTOBER 2018 DAY 3 Bought more stock trom luckylips for R4300 and paid via internet banking. 7 Received Payment via Debit Card from § Summer for R400 to settle his account, Cash Sales of Merchandise, R5000. 10 Issued receipt no 13 to P Spring for the amount outstanding on 30 September. Sold goods to F Winter on credit for R 340 [IV 10]. 12. Received Payment via internet banking from F Winter, R 600 to settle his account as at 1 October. Sold Merchandise on credit to $ Summer, R360. 14. Cash Sales of goods as per CRR R 850. Paid employees their wages with cash, R8500. 16 Sold goods to C Autumn on credit for R290. 18 Paid via EFT fo luckylips for merchandise R6500. 20 QNeer, the owner, increased his capital contribution by R 10.009, which he deposited directly into the bank account of Season Retailers. 25 Paid Nelson Mandela Bay Municipality for Rates & Taxes R 1500 and Water and Electricity R1200 and paid via EFT. 28 — Cash Sales of goods as per CRR, R 1050. 30 C Autumn settled all amounts owed, receipt was issued. Paid employees ther wages with cash, R8500. 50CASH RECEIPTS JOURNAL OF. SUNDRY] ESSE ‘A ALYSI fo] | SoF ‘COST OF|DEBTORS| accouwTs Doc DEARESOF ECEIPT | BANK |SALES| SALES] |CONTROL|aMOUNT|L. | DETAILS Doc, DAY, PAYEE ||FoL ANI Jourrou] Beran CASB|PAYMENTS JOURNAL OF. 51 DEBTORS JOURNAL OF. Doc. | DAY DETAILS FOL. SALES COST OF SALESGeneral Ledger of, 52 Dr Date | Day | Details [Fol] Amount [Date [Day | Details cr [Fol_[ Amount BALANCE SHEET ACCOUNTS SECTIONDr 53 cr Date | Day | Deiaiis [Day [Details ‘Amount NOMINAL SHEET ACCOU! INTS SECTIONTrial Balance for DETAILS FOL CREDITActivity 21; 55 Amy sells cans of cool drink. She calls her business Amy's SLURPEES. She Buys cans at R3 and sells them at RS. 1. Record the following transactions in the journals of Amy's Slurpees. You will need to draw up a: tm. IV. Cash Receipt Journal (include columns for Sales, Cost of sales and debtors control) Cash Payments Journal (include columns for Trading Stock and Creditors control) Debtors Journal Creditors Journal (include column for trading Stock) TRANSACTIONS FOR JULY 20171. Amy starts her business, Amy's Slurpees, by depositing R350 into the firm's bank account. Issued receipt 1. 1. Amy buys 10 cans of cola on credit for R30. She receives Suppliers. 3, Amy buys 10 cans of cola for R30 cash. She pays Cash & Cary with cheque 001. Invoice 01 from Zondi 4, Amy uses a cheque to pay Advertco R50 to advertise her business. 5. Amy sells 8 cans of cola for R40 on account. She issues Invoice 1 to Sally Zulu. 8. Amy sells 9 cans of cola for cash, R45 as per cash register roll 01 10. Amy buys 12 cans of cola on credit, R36, She receives Invoice 02 from Zondi Suppliers. 10. Mark buy 6 cans of cola from Amy's Slurpees on credit. 13 Amy sells 2 cans of cola on account. She issues invoice 3 to Precious King. 16 Amy gives a cheque to P Renter to pay the rent for her shop, R60. 12. Amy pays Zondi Suppliers the amount owing to them. 19. Mark paid for 2 of the cans he bought on the 10h 23. Amy sells 1 can of cola for RS for cash. She tings this up on the cash register. 25. Mark settled his account 56CASH RECEIPTS JOURNAL OF. SUNDRY ACCOUNTS F /ANALYS cost 0] ISOF OF |DEBTORS FO DOc|DAY DETAILS | L|RECEIPT, BANK | SALE |SALES|CONTROL| AMOUNT] L. | DETAILS 57 CASH PAYMENTS JOURNAL OF DEBTORS JOURNAL Of ‘SUNDRY ‘ACCOUNTS NAME OF gee pay’) FE oer i PaNk FOL. SALES CORT OE Sites es T TT58 CREDITORS JOURNAL OF. SUNDRY ACCOUNTS CREDITORS Doc.|DAY) DETAILS FOL CONTROL. lamountFou| DETAILS AcTIVITY Opening Balances for Keketsi Suppliers on 30 April 20.8 Capital R 360 000, Drawings R1 500, Buildings R154 000, Vehicles R80 600, Equipment R 19-900, Trading Stock R47 618, Bank R51 813, Cash Float R 700, Sales R22 314, Cost of Sales R14 792, Rent Expense R2 225, Stationery R200, Advertising R3 090, Insurance RI 150, Water and Electricity R 526, Salaries R4 200. Open the accounts in the General leger of Keketsi Suppliers with the balances given in the Trial balance on 30 April 20.06. [a] Cash Receipt Journal [CRIS], with analysis columns for Analysis of receipts, Bank, Sales, Cost of Sales and Sundry Account. [b] Cash Payments Journal [ CPJ5], with analysis columns for Bank Trading Stock, Stationery, Wages and Sundry Account. [c] Close off the Journals on 31 May and post to the General Ledger. Show folio numbers. Balance the ledger accounts where necessary. Prepare the Trial Balance on 31 May 20.06 Transactions: May 20.06 1B. Keketsi inherited R260 000; deposited this money in current bank account of Keketsi Suppliers as capital; receipt 020 issued. 2 Received title deeds for building bought: paid Rainbow Builders R205 000 by EFT.Sold merchandise for cash to A. Beyers, R10 500 (profit mark-up on all Goods is 50%on cost price) 4 Paid wages by drawing cash from the ATM, R2 860. Cash sales as per cash register roll, R4 800. 7 Bought delivery vehicle from GM Motors by internet banking, RBO 000. 8 Bought stationery from Paper & Co. R153 paid by EFT. 9 Paid by EFT to Prima Services for repairs to equipment, R631 10 Cash sales as per cash register roll, R16 500 1] Paid wages cash that was drawing out the ATM, R2 860 14 Bought new computer from Officeauip, RP 600; paid by internet banking. 15 B. Keketsi drew out of the businesses bank account for personal use, R1 200. 16 Sold goods for cash to P.Ponie for R7 200. 18 Cash sales as per cash register roll, RE 400. Bought merchandise from Leo Suppliers by EFT, R19 200. 59 19 Paid wages cash taking from bank account, R2 860 22 Paid rent by EFT to AA Estates, R 3150 25 Paid Wages with cash from the ATM, R2 860 26 Cash sales as per cash reaister roll, R6 000. 28 Paid A. Vermaak, Manager, salary of R 5 120 via EFT. B. Kekelsi drew CASH for personal use, R 2 650. 31 Paid EFT to Telkom SA Ld for Telephone, R481. Paid via internet banking as an investment of R15 000 on a fixed deposit with Protea Bank for 12 months at 10% interest per annum: interest payable every 6 monthsCASH RECEIPTS JOURNAL OF. 'ANALYS| Is OF RECEIPT, rom Doc|DAY DETAILS BANK SALE cost OF SALES SUNDRY ACCOUNTS DEBTORS| |CONTROL| Fo AMOUNT) L.| DETAILS 6061 CASH PAYMENTS JOURNAL OF SUNDRY ACCOUNTS. NAME OF DOC. |DAY PAYEE FOL, BANK AMOUNT |FOL! DETAILS: General Ledger of Dr cr Date | Day | Details [Fol Amount [Date [Day [Details [Fol_—| “Amount BALANCE SHEET ACCOUNTS SECTION62 Date [ Day | Details Fol[ Amount [Date | Day_| Details Fal [Amount NOMINAL SHEET ACCOUNTS SECTIONTrial Balance for DETAILS FOL CREDIT64ACTIVITY 23: ACCOUNTING REVISION [ACCOUTING REVISION ~ ‘CRJ, CPJ, DJ, CJ, GL. TB. Makeup of 80% ‘CASH RECEIPTS JOURNAL OF J Adams CLOTHING FOR FEBRUARY 2.20 cus 306 ROY [oav[oerans rou] A¥LYS5 cost oF] patton |___ SUNDRY ACCOUNT rectors | sank | saves |“saise’ | Conte [aMoUNT [rot | OETALS maces | 1 [ahaa 72000) : : eos? | 3 [sates 26580 anim carent os_| « [ren : 0000 : freon cnnsze| 12 | saee : reo ood os _| 1 lrovsum | |- 0000 : i acces | 19 |e croye 7000 2 crnez7| | soes : : 76700 rece | 26 |saMeere 700 7H00 3 acct | 28 [Sveme : 12500 :so ‘GASH PAYMENTS JOURNAL OF J Adams CLOTHING FOR FEBRUARY 2.20 cpus DA CREDITOR |__SUNDRY ACCOUNT voc | '¥ TRADING S_ AMOUN | FO No. DETAILS | BANK | STOCK | WAGES | CONTROL T DETAILS Land & coss_| 1 _|Remax Estate 95.000 ‘95 000 Buildings cce6_| 2 | Linen & Cotton 9.000 cce7_| 4 | Sewing Dealers 44.950 Equipment ces | 6 | Central News 1250 Advertising cose Cash 5000 5000 @ [Calista cc70. Wholesalers. 9690 ‘ cc71_| 13 | Cash 5000 BS 20 J Adams 12.500 12500 * cc72_| 21 | Telkom 2355 2355 : cc73_| 25 | Geo's Fabrics 13.456 i cc74_| 26 | Pinns Retailers 7.033 *99DEBTORS JOURNAL OF J Adams Clothing for Feb 2.20 Lo ‘Doc NO DAY | DETAILS FOL [SALES COSTOF SALES inal 17] Bovemmer : BE INVaE 24 | Ccrene 728 = inva 25 | SaMelane z 2200 nvad 25 [5 Overmeyer 75800 = ‘CREDITORS JOURNAL OF J Adams for Feb 220 | — i SUNDRYACCOUNT 0c No pay __ eras CONTROL | starionery | "STOCK [AMOUNT |FOL DETAILS ivis | 21 Galata wholesales = 1523 108760 | Equpment iNvie | 10/ Linen & Coton 6a = invir | 19) Geo’ Fant. 20800 aa| [proving INVia | 22 Casta Wholesales ‘64 wel INVI8|_24| Pn Rotaters 0000 = Venices I : 7 7 lGeneral ledger of J Adams Clothing for February 2.20 BALANCE SHEET ACCOUNT SECTION Date’ Fol Amount Date Fol Amount DR CAPITAL B1 CR DRAWINGS B2 LAND AND BUILDINGS B3 VEHICLES B4 EQUIPMENT BSTRADING STOCK BG DEBTORS CONTROL B7 BANK BB CREDITORS CONTROL BO LOAN: IOU BANK B10 69NOMINAL ACCOUNT SECTION SALES N41 COST OF SALES N2 CURRENT INCOME N3 ADVERTISING N4 STATIONERY NS TELEPHONE NG WAGES N7 70TRIAL BALANCE OF J Adams Clothing for 28 February 2.20 BALANCE SHEET ACCOUNT SECTION FOL DEBITR CREDIT R NOMINAL ACCOUNTS SECTION 71