Accounting record of lunar enterprises during february 2020
Bank Sales Cost of
Sales
Debtors
Control Sundry
232 500 48 300 32 200 ? 151 200
Cash Payments Journal
Bank Inventory Creditors
Control Wages Sundry
118 550 21 000 ? 6 600 80 225
Debtors Journal
Debtors Control Sales Cost of Sales
? 87 000 58 000
Creditors Journal
Creditors Control Inventory Sundry
122 675 53 175 69 500
Balances as at 1 February 2020
Bank R69 725
Debtors control R29 165
Creditors control R36 285
Required:
Post the transactions for February 2020 to the following ledger accounts and then balance
these accounts:
4.1. Bank (5)
4.2. Debtors control (5)
4.3. Creditors control (5)
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Cash Receipts Journal Bank Sales Cost of Sales Debtors Control Sundry 232 500 48 300 32...
Cash Receipts Journal Bank Sales Cost of Sales Debtors Control Sundry 232 500 48 300 32 200 151 200 Cash Payments Journal Bank Inventory Wages Sundry Creditors Control ? 118 550 21 000 6600 80 225 Debtors Journal Debtors Control Cost of Sales Sales 87 000 ? 58 000 Creditors Journal Creditors Control 122 675 Inventory 53 175 Sundry 69 500 Balances as at 1 February 2020 Bank Debtors control Creditors control R69 725 R29 165 R36 285 Required: Post...
Cash Receipts Journal Bank Sales Cost of Sales 32 200 Debtors Control Sundry 232 500 48...
Cash Receipts Journal Bank Sales Cost of Sales 32 200 Debtors Control Sundry 232 500 48 300 151 200 Cash Payments Journal Bank Creditors Control Wages Inventory 21000 Sundry 80 225 118 550 ? 6600 Debtors Journal Debtors Control Sales 87 000 Cost of Sales 58 000 Creditors Journal Creditors Control Inventory 53 175 Sundry 69 500 122 675 Balances as at 1 February 2020 Bank Debtors control Creditors control R69 725 R29 165 R36 285 Required: Post the transactions...
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financial accounting
Financial Reporting and Analysis Case Study (1).pdf
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Please help me with number 6,7 and 8
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Using the information given above record the necessary year Prepare a post adjust trial balance for...
Using the information given above record the necessary
year
Prepare a post adjust trial balance for N & N enterprises as at
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ni w two Question 3 [42] Bueve Brummer opened a stationery store, Ursa Major Traders. The following transactions took place during March 2020. All inventory is marked up at 35% on cost. The entity is not registered for VAT. Bueve Brummer, the owner, deposited R50 000 as capital in the entity's bank account. Purchased inventory on credit from Wild Malva, R10 553. Received invoice 8563. Sold inventory on credit to a new customer, Big Dog, R22 275 (invoice 17). Purchased...
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Cash Receipts Journal Bank Sales Cost of Sales 32 200 Debtors Control Sundry 232 500 48 300 151 200 Cash Payments Journal Bank Creditors Control Wages Inventory 21000 Sundry 80 225 118 550 ? 6600 Debtors Journal Debtors Control Sales 87 000 Cost of Sales 58 000 Creditors Journal Creditors Control Inventory 53 175 Sundry 69 500 122 675 Balances as at 1 February 2020 Bank Debtors control Creditors control R69 725 R29 165 R36 285 Required: Post the transactions...
Value Added Tax (VAT) must be ignored.
QUESTION 2 VALUE ADDED TAX (VAT) The totals of the journals provided below were extracted from the records of Musi Traders, a registered VAT vendor, for June 2016. Musi Traders commenced operations on 01 June 2016. VAT is levied at 14%. None of the products sold by Musi Traders are zero-rated or VAT exempt. REQUIRED Post to the following accounts in the General Ledger: 2.1 VAT Input 2.2 VAT Output 2.3 Debtors Control...
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...
Celestial Enterprise General Ledger April 2020
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Use the information of Mbombela Traders for the year ended 31 March 2020 provided below, to answer questions 6 to 8: Vehicles Inventory Bank (overdraft) Debtors control Creditors control Equipment..... 700 000 200 000 50 000 600 000 500 000 400 000 6. What is the amount of non-current assets? (2) (3) 700 000 1 100 000 750 000 400 000 1 950 000 (4) (5) What is the amount of current...
Using the information given above record the necessary
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