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Activity 2 Use the information in the sum following General Ledger acco systems

Activity 2 Use the information in the sum following General Ledger acco systems

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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General ledger accounts
that you don't have a Cost ol Sales ucto Activity 2 Use the information in the summaries of the journals to post to the following General Ledger accounts of Dudu Traders for April 20.1. The ry systems
Transcribed Image Text:that you don't have a Cost ol Sales ucto Activity 2 Use the information in the summaries of the journals to post to the following General Ledger accounts of Dudu Traders for April 20.1. The ry systems
the accounts at the end of the month. Totals of the subsidiary journals for April 20.1: balances are in brackets next to each account. Balance/total opening Debtors control (R5 200) Creditors control (R15 450) Purchases (R31 200) Sales (R42 500) Debtors Journal (DJ4) Debtors Allowances Journal (DAJ4) R25 000 Debtors allowances Sales Creditors Journal (CJ4) R2 400 Creditors Allowances Journal (CAJ4) Creditors control R40 000 Creditors control Purchases R29 450 Purchases R4 100 R2 800 Equipment Packing materials R8 000 Equipment Packing materials Sundry accounts R800 R1 750 R350 Sundry accounts Cash Receipts Journal (CRJ4) R800 R150 Cash Payments Journal (CPJ4) Bank R25 000 Bank R24 200 Sales R8 000 Purchases R7 600 Debtors control Discount allowed Sundry accounts R14 300 Creditors control R10 700 R300 Discount received R700 R3 000 Wages R6 000 Debtors control R450 Sundry accounts R150 eneral Journal (GJ4) -btors control (Dr.) editors control (Dr.) R250 Debtors control (Cr.) R100 R210 Creditors control (Cr.) R270 lear-end procedure using the periodic stock system end of the accounting period, the business has to report a profit or otion of the General Ledger. The
Transcribed Image Text:the accounts at the end of the month. Totals of the subsidiary journals for April 20.1: balances are in brackets next to each account. Balance/total opening Debtors control (R5 200) Creditors control (R15 450) Purchases (R31 200) Sales (R42 500) Debtors Journal (DJ4) Debtors Allowances Journal (DAJ4) R25 000 Debtors allowances Sales Creditors Journal (CJ4) R2 400 Creditors Allowances Journal (CAJ4) Creditors control R40 000 Creditors control Purchases R29 450 Purchases R4 100 R2 800 Equipment Packing materials R8 000 Equipment Packing materials Sundry accounts R800 R1 750 R350 Sundry accounts Cash Receipts Journal (CRJ4) R800 R150 Cash Payments Journal (CPJ4) Bank R25 000 Bank R24 200 Sales R8 000 Purchases R7 600 Debtors control Discount allowed Sundry accounts R14 300 Creditors control R10 700 R300 Discount received R700 R3 000 Wages R6 000 Debtors control R450 Sundry accounts R150 eneral Journal (GJ4) -btors control (Dr.) editors control (Dr.) R250 Debtors control (Cr.) R100 R210 Creditors control (Cr.) R270 lear-end procedure using the periodic stock system end of the accounting period, the business has to report a profit or otion of the General Ledger. The
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