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QUESTION 3 10 points Save Answer Complete the following statement of profit or loss and other comprehensive income of Thabang Traders for the financial year ended 31 October 2019, taking the information below into consideration: INFORMATION 1. The owner purchased a delivery vehicle for the entity to the value of R235 000 and paid by an electronic fund transfer (EFT) from his personal bank account. 2. Purchased inventory to the value of R12 000 on credit. 3. Paid R4 500...
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Formot Thabong Traders Stalement of Profit Income for the year or loss and other comprehensive ended 31 october 140 ooo (93 000) 47 ooo 1 Sales Cost of sales Gross Potit other expenses water and elechoty stotonery wages Rent expense. ? (15ooo) (45 oo) Poft for the year . QUESTION 3 10 points Save Answer Complete the following statement of profit or loss and other comprehensive income of Thabang Traders for the financial year ended 31 October 2019, taking the...
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Note: Ignore the effect of VAT
on all the transactions.
Complete the following subsidiary
journals in the below EXACT formal:
Cash Receipts
Journal
(22)
Cash Receipts Journal of Superheroes SA for October
2019
Doc no.
D
Details
F
Analysis of Receipts
Bank
Sales
Cost of Sales
Debtors Control
Sundry Accounts
Amount
F
Details
Question 2 [70] Please read the following scenario carefully and then use the information provided to answer the questions. John Brown, the owner of Superheroes SA,...
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QUESTION 1 10 points Save Answer Match transactions with suitable and applicable primary source documents. - The owner contributes a computer to the entity, R8 000. A. Petty cash voucher 1 - Sold merchandise to various customers and received R10 000 cash. B. Invoice (- Bought inventory on credit from a supplier, R3 000. C. Cash register roll A customer returned defective goods to us, which he has bought D. Original credit note originally for R800. E. Journal voucher Paid...
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QUESTION 2 ACCOUNTING EQUATION; DEBTORS CONTROL (20 MARKS)2.1
REQUIRED
■ Show the effect of the following transactions of Suncoast
Repairs on the Accounting equation.Use “+” to denote an increase,
“−” to denote a decrease and “0” to denote no change to theelements
of the equation. Follow the example given.
■ Assume that the bank balance is favourable at all times.
Example: Paid for electricity by cheque, R1 000.
TRANSACTIONS
2.1.1 Issued a cheque to Makro for the purchase of equipment,...
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Sent
Need the answers for that whole question paper
True or false questions
(25) has any effect SECTION TRUE OR FALSE QUESTION (40 Marks) The following questions indicate if it's True or False. Each question carries 2 Marks 1. Accounting Principle is general law or rule followed in the preparation of financial statements 2. Usefulness, objectivity and feasibility are the three basic norms generally found in accounting principles 3. The Cash book record only the cash payments 4. If a...
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Please answer the question using the information
provided on both pictures.
(20 Marks) QUESTIONS The trial balance, adjustments and additional information were extracted from the accounting records of Allied Traders on 28 February 2018, the end of the financial year REQUIRED Prepare the Statement of Comprehensive Income for the year ended 28 February 2018. INFORMATION ALLIED TRADERS PRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 2018 Debit (R) Credit (R) Balance Sheet Accounts Section Capital Drawings Land and buildings Vehicles at...
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Additional information and adjustments The rent for March 2019 has already been received. The value of inventories according to physical stocktaking as at 28 February 2019 are as follows: * Trading inventory R86 000 * Stationery R500 2. 3. An invoice received for an advertisement was erroneously debited to sundry expenses account, R2 400. 4. The telephone account for February 2019 has not yet been paid, R900. 5. Bank charges, which appeared on the bank statement for February 2019, were...
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QUESTION 5 STATEMENT OF FINANCIAL POSITION The trial balance, adjustments and additional information provided below were extracted from the accounting records of Klicks Traders on 29 February 2016, the end of the financial year. REQUIRED Use the trial balance and additional information to prepare the Statement of Financial Position of Klicks Traders as at 29 February 2016. The Statement of Comprehensive Income and notes to the financial statements are not required. Credit (R) 240 950 138 000 54 000 6...
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Using the information given above record the necessary
year
Prepare a post adjust trial balance for N & N enterprises as at
31 December 2010
Question 3 NAN ENTERPRISES TRIAL BALANCE AS AT 31 DECEMBER 2010 130 000 11 000 50 000 81 000 14 000 14 000 100 000 82 000 37 200 90 000 500 000 283 300 Capital Drawings Mortgage loan (8%) Land and buildings Furniture and equipment Bank Inventory (1 January 2010) Debtors control Fixed deposit...
QUESTION 3 10 points Save Answer Complete the following statement of profit or loss and other comprehensive income of Thabang Traders for the financial year ended 31 October 2019, taking the information below into consideration: INFORMATION 1. The owner purchased a delivery vehicle for the entity to the value of R235 000 and paid by an electronic fund transfer (EFT) from his personal bank account. 2. Purchased inventory to the value of R12 000 on credit. 3. Paid R4 500...
Formot Thabong Traders Stalement of Profit Income for the year or loss and other comprehensive ended 31 october 140 ooo (93 000) 47 ooo 1 Sales Cost of sales Gross Potit other expenses water and elechoty stotonery wages Rent expense. ? (15ooo) (45 oo) Poft for the year . QUESTION 3 10 points Save Answer Complete the following statement of profit or loss and other comprehensive income of Thabang Traders for the financial year ended 31 October 2019, taking the...
Note: Ignore the effect of VAT
on all the transactions.
Complete the following subsidiary
journals in the below EXACT formal:
Cash Receipts
Journal
(22)
Cash Receipts Journal of Superheroes SA for October
2019
Doc no.
D
Details
F
Analysis of Receipts
Bank
Sales
Cost of Sales
Debtors Control
Sundry Accounts
Amount
F
Details
Question 2 [70] Please read the following scenario carefully and then use the information provided to answer the questions. John Brown, the owner of Superheroes SA,...
QUESTION 1 10 points Save Answer Match transactions with suitable and applicable primary source documents. - The owner contributes a computer to the entity, R8 000. A. Petty cash voucher 1 - Sold merchandise to various customers and received R10 000 cash. B. Invoice (- Bought inventory on credit from a supplier, R3 000. C. Cash register roll A customer returned defective goods to us, which he has bought D. Original credit note originally for R800. E. Journal voucher Paid...
Sent
Need the answers for that whole question paper
True or false questions
(25) has any effect SECTION TRUE OR FALSE QUESTION (40 Marks) The following questions indicate if it's True or False. Each question carries 2 Marks 1. Accounting Principle is general law or rule followed in the preparation of financial statements 2. Usefulness, objectivity and feasibility are the three basic norms generally found in accounting principles 3. The Cash book record only the cash payments 4. If a...
Please answer the question using the information
provided on both pictures.
(20 Marks) QUESTIONS The trial balance, adjustments and additional information were extracted from the accounting records of Allied Traders on 28 February 2018, the end of the financial year REQUIRED Prepare the Statement of Comprehensive Income for the year ended 28 February 2018. INFORMATION ALLIED TRADERS PRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 2018 Debit (R) Credit (R) Balance Sheet Accounts Section Capital Drawings Land and buildings Vehicles at...
Additional information and adjustments The rent for March 2019 has already been received. The value of inventories according to physical stocktaking as at 28 February 2019 are as follows: * Trading inventory R86 000 * Stationery R500 2. 3. An invoice received for an advertisement was erroneously debited to sundry expenses account, R2 400. 4. The telephone account for February 2019 has not yet been paid, R900. 5. Bank charges, which appeared on the bank statement for February 2019, were...
QUESTION 5 STATEMENT OF FINANCIAL POSITION The trial balance, adjustments and additional information provided below were extracted from the accounting records of Klicks Traders on 29 February 2016, the end of the financial year. REQUIRED Use the trial balance and additional information to prepare the Statement of Financial Position of Klicks Traders as at 29 February 2016. The Statement of Comprehensive Income and notes to the financial statements are not required. Credit (R) 240 950 138 000 54 000 6...
Using the information given above record the necessary
year
Prepare a post adjust trial balance for N & N enterprises as at
31 December 2010
Question 3 NAN ENTERPRISES TRIAL BALANCE AS AT 31 DECEMBER 2010 130 000 11 000 50 000 81 000 14 000 14 000 100 000 82 000 37 200 90 000 500 000 283 300 Capital Drawings Mortgage loan (8%) Land and buildings Furniture and equipment Bank Inventory (1 January 2010) Debtors control Fixed deposit...