General ledger of Zama Traders Trading Stock 2020 125 000,00 Jun 2020 1Balance 30 Bank b/d CPJ Creditors Control a DAJ Jun 30 Cost of Sales CRJ 75 000,00 Cost of Sales 40 000,00 DJ |CAJ 8 000,00 Debtors Control 2020 Band and 30 Discount allowed CRJ 2020 1 Balance b/d DJ 85 000,00 Jun 40 000,00 Jun 45 000 30 Sales DAJ 900,00 Zama Traders operates on a profit mark-up of 50% on cost. Cash sales are equal to 60% of all sales. Additional information • Owner, Z Nkosi, returned merchandise which she took for own use, selling price R600 • The business accepted an old computer, valued at R1000 from S Khumalo in settlement of a debt of R1125 • Received credit note from B May. Trade discount of 20% omitted on the invoice for goods purchased on credit for R560 • Issued an invoice for R560 to a customer R Rayaan, and entered in the subsidiary journal as R56 Required 1. Prepare General Journal for the additional information provided above. Narrations are not required. Post this journal to the relevant account as at 30 June 2020 2. Complete the following accounts in the General ledger a. Trading Stock b. Debtors Control

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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General ledger of Zama Traders
Trading Stock
2020
125 000,00| Jun
2020
1Balance
30 Bank
Creditors Control a
30 Cost of Sales
Cost of Sales
Jun
b/d
CRJ
75 000,00
40 000,00
DJ
CAJ
CPJ
8 000,00
DAJ
Debtors Control
2020
2020
85 000,00 || Jun
Band and
1Balance
30 Sales
b/d
DJ
30 Discount allowed CRJ
DAJ
Jun
45 000
40 000,00
900,00
Zama Traders operates on a profit mark-up of 50% on cost.
Cash sales are equal to 60% of all sales.
Additional information
• Owner, Z Nkosi, returned merchandise which she took for
own use, selling price R600
• The business accepted an old computer, valued at R1000
from S Khumalo in settlement of a debt of R1125
• Received credit note from B May. Trade discount of 20%
omitted on the invoice for goods purchased on credit for
R560
• Issued an invoice for R560 to a customer R Rayaan, and
entered in the subsidiary journal as R56
Required
1. Prepare General Journal for the additional information
provided above. Narrations are not required. Post this
journal to the relevant account as at 30 June 2020
2. Complete the following accounts in the General ledger
a. Trading Stock
b. Debtors Control
Transcribed Image Text:General ledger of Zama Traders Trading Stock 2020 125 000,00| Jun 2020 1Balance 30 Bank Creditors Control a 30 Cost of Sales Cost of Sales Jun b/d CRJ 75 000,00 40 000,00 DJ CAJ CPJ 8 000,00 DAJ Debtors Control 2020 2020 85 000,00 || Jun Band and 1Balance 30 Sales b/d DJ 30 Discount allowed CRJ DAJ Jun 45 000 40 000,00 900,00 Zama Traders operates on a profit mark-up of 50% on cost. Cash sales are equal to 60% of all sales. Additional information • Owner, Z Nkosi, returned merchandise which she took for own use, selling price R600 • The business accepted an old computer, valued at R1000 from S Khumalo in settlement of a debt of R1125 • Received credit note from B May. Trade discount of 20% omitted on the invoice for goods purchased on credit for R560 • Issued an invoice for R560 to a customer R Rayaan, and entered in the subsidiary journal as R56 Required 1. Prepare General Journal for the additional information provided above. Narrations are not required. Post this journal to the relevant account as at 30 June 2020 2. Complete the following accounts in the General ledger a. Trading Stock b. Debtors Control
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