Please do 4.1.1 and use the table below. Please also complete the totals for each column Clivia Traders, a stationery shop, situated in Sea Point is owned by Daisy Garden. Thebusiness is a registered VAT vendor and trades only with other registered vendors. Allamounts include 15% VAT where applicable, except if otherwise indicated. They use aperpetual inventory system and all goods are marked up at 20% above cost, before takinginto account any trade discounts. The business does not expect to award any settlementdiscounts nor to qualify for any settlement discounts. All occurrences of settlementdiscounts are thereforeincidental in nature.All money received is banked daily.The following transactions took place in the month of February 2020:DATETRANSACTION1Owner contributed R5 000 cashCash sales R13 800 including VATCash purchases R8 000 excluding VAT10Paid Telkom for telephone account R34515Paid R2 000 towards a loan settlement with Mzanzi Bank20Cash sales R5 750 including VAT23Cash purchases R4 600 including VAT25Paid wages R800Q.4.1 Prepare the following subsidiary journals for Clivia Traders for February2020:Q.4.1.1Cashbook paymentsQ.4.1.2Cashbook receiptsNote: Document numbers and folios are not required. Totals are also not needed.Round to the nearest rand. Cashbook payments of Clivia Traders - February 2020Doc Day Name of payeeFol BankCreditors Input VATPurchasesSundry AccountscontrolAmountFol. Details

We are answering 4.1.1 as it is specifically mentioned to do 4.1.1.

Clivia Traders, a stationery shop, situated in Sea Point is owned by Daisy Garden. The business is a registered VAT vendor and trades only with other registered vendors. All amounts include 15% VAT where applicable, except if otherwise indicated. They use a perpetual inventory system and all goods are marked up at 20% above cost, before taking into account any trade discounts. The business does not expect to award any settlement discounts nor to qualify for any settlement discounts. All occurrences of settlement discounts are therefore incidental in nature. All money received is banked daily. The following transactions took place in the month of February 2020:

Clivia Traders, a stationery shop, situated in Sea Point is owned by Daisy Garden. The business is a registered VAT vendor and trades only with other registered vendors. All amounts include 15% VAT where applicable, except if otherwise indicated. They use a perpetual inventory system and all goods are marked up at 20% above cost, before taking into account any trade discounts. The business does not expect to award any settlement discounts nor to qualify for any settlement discounts. All occurrences of settlement discounts are therefore incidental in nature. All money received is banked daily. The following transactions took place in the month of February 2020:

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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