Answer this part of the question on the attached framework of journals on pages 25 and 26. Board Riders is an enterprise that trades in skateboards. The following accounting transactions in respect of Board Riders took place during the month ended 31 December 2022: Dec 01 Sold 20 electric skateboards on credit to TakeMuch at R4 000 each, before a 10% trade discount was applied. Board Riders settled the November 2022 statement for internet costs of R6 000 (which was received from Vodafibre, on 30 November) (Bank statement reference: Vodafibre payment). 07 Purchased two laptops on credit the value of R9 000 each from Credible Connection, before a trade discount of 5% was applied (Purchase invoice: PCC005). Received an amount of R38 000 from Amazonian via electronic funds transfer (EFT) to settle their account ter a 5% cash discount was applied. Purchased 200 miniature skateboards at R50 each from Tech Decks (Purchase invoice: TD100). 17 The owner took computer screens belonging to the enterprise for his personal use. The value of the computer screens in the records of the enterprise was R2 000 on 17 December 2022. 03 14 15 Issued a debit note to the value of R4 000 to Credible Connection due to an invoice error in respect of the laptops purchased on 7 December 2022. Returned 50 miniature skateboards to Tech Deck due to poor quality. These miniature skateboards were purchased on 15 December 2022. Sold a trailer for R8 000 on credit to Shane O'Neill. The trailer had a carrying value of R5 000 in the records of Board Riders on 21 December 2022. 24 27 18 19 21 28 29 31 Paid an amount of R37 275 to MrP. Sport via EFT to settle the account of Board Riders, after receiving a R2 725 discount. Issued a credit note to the value of R12 000 to TakeMuch in respect of the sale of electric skateboards on 1 December 2022. Sold 20 swallow-tail skateboards on credit to Kingdom Boards at R1 000 per skateboard and issued Invoice 255. The statement from Sable Square, in respect of rent of R8 500 for December 2022, was received. Payment will occur in January 2023. Received R1 500 interest from Venture Bank, as indicated on the bank statement of December 2022. YOU ARE REQUIRED TO record the above accounting transactions, in date sequence, in the appropriate journals for December 2022. No closing entries, journal totals, or document numbers are required to be recorded. (20) Clearly show all calculations. Round off to the nearest rand, if applicable.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 5EB: Review the following transactions and prepare any necessary journal entries for Lands Inc. A. On...
icon
Related questions
Topic Video
Question
Answer this part of the question on the attached framework of journals
on pages 25 and 26.
Board Riders is an enterprise that trades in skateboards. The following accounting transactions
in respect of Board Riders took place during the month ended 31 December 2022:
Dec 01
Sold 20 electric skateboards on credit to TakeMuch at R4 000 each, before a 10%
trade discount was applied.
Board Riders settled the November 2022 statement for internet costs of R6 000
(which was received from Vodafibre, on 30 November) (Bank statement reference:
Vodafibre payment).
07 Purchased two laptops on credit the value of R9 000 each from Credible
Connection, before a trade discount of 5% was applied (Purchase invoice:
PCC005).
Received an amount of R38 000 from Amazonian via electronic funds transfer
(EFT) to settle their account ter a 5% cash discount was applied.
Purchased 200 miniature skateboards at R50 each from Tech Decks (Purchase
invoice: TD100).
17
The owner took computer screens belonging to the enterprise for his personal
use. The value of the computer screens in the records of the enterprise was
R2 000 on 17 December 2022.
03
14
15
Issued a debit note to the value of R4 000 to Credible Connection due to an invoice
error in respect of the laptops purchased on 7 December 2022.
Returned 50 miniature skateboards to Tech Deck due to poor quality. These
miniature skateboards were purchased on 15 December 2022.
Sold a trailer for R8 000 on credit to Shane O'Neill. The trailer had a carrying value
of R5 000 in the records of Board Riders on 21 December 2022.
24
27
18
19
21
28
29
31
Paid an amount of R37 275 to MrP. Sport via EFT to settle the account of Board
Riders, after receiving a R2 725 discount.
Issued a credit note to the value of R12 000 to TakeMuch in respect of the sale of
electric skateboards on 1 December 2022.
Sold 20 swallow-tail skateboards on credit to Kingdom Boards at R1 000 per
skateboard and issued Invoice 255.
The statement from Sable Square, in respect of rent of R8 500 for
December 2022, was received. Payment will occur in January 2023.
Received R1 500 interest from Venture Bank, as indicated on the bank statement
of December 2022.
YOU ARE REQUIRED TO
record the above accounting transactions, in date sequence, in the appropriate journals for
December 2022. No closing entries, journal totals, or document numbers are required to
be recorded.
(20)
Clearly show all calculations. Round off to the nearest rand, if applicable.
Transcribed Image Text:Answer this part of the question on the attached framework of journals on pages 25 and 26. Board Riders is an enterprise that trades in skateboards. The following accounting transactions in respect of Board Riders took place during the month ended 31 December 2022: Dec 01 Sold 20 electric skateboards on credit to TakeMuch at R4 000 each, before a 10% trade discount was applied. Board Riders settled the November 2022 statement for internet costs of R6 000 (which was received from Vodafibre, on 30 November) (Bank statement reference: Vodafibre payment). 07 Purchased two laptops on credit the value of R9 000 each from Credible Connection, before a trade discount of 5% was applied (Purchase invoice: PCC005). Received an amount of R38 000 from Amazonian via electronic funds transfer (EFT) to settle their account ter a 5% cash discount was applied. Purchased 200 miniature skateboards at R50 each from Tech Decks (Purchase invoice: TD100). 17 The owner took computer screens belonging to the enterprise for his personal use. The value of the computer screens in the records of the enterprise was R2 000 on 17 December 2022. 03 14 15 Issued a debit note to the value of R4 000 to Credible Connection due to an invoice error in respect of the laptops purchased on 7 December 2022. Returned 50 miniature skateboards to Tech Deck due to poor quality. These miniature skateboards were purchased on 15 December 2022. Sold a trailer for R8 000 on credit to Shane O'Neill. The trailer had a carrying value of R5 000 in the records of Board Riders on 21 December 2022. 24 27 18 19 21 28 29 31 Paid an amount of R37 275 to MrP. Sport via EFT to settle the account of Board Riders, after receiving a R2 725 discount. Issued a credit note to the value of R12 000 to TakeMuch in respect of the sale of electric skateboards on 1 December 2022. Sold 20 swallow-tail skateboards on credit to Kingdom Boards at R1 000 per skateboard and issued Invoice 255. The statement from Sable Square, in respect of rent of R8 500 for December 2022, was received. Payment will occur in January 2023. Received R1 500 interest from Venture Bank, as indicated on the bank statement of December 2022. YOU ARE REQUIRED TO record the above accounting transactions, in date sequence, in the appropriate journals for December 2022. No closing entries, journal totals, or document numbers are required to be recorded. (20) Clearly show all calculations. Round off to the nearest rand, if applicable.
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College