General ledger of Zama Traders Trading Stock 2020 125 000,00 Jun 75 000,00 2020 1 Balance 30 Bank 30 Cost of Sales CRJ b/d CPJ Creditors Controla DAJ Jun Cost of Sales DJ 40 000,00 CAJ 8 000,00 Debtors Control 2020 85 000,00 Jun Band and 30 Discount allowed CRJ 2020 Jun 1 Balance b/d 45 000 30 Sales DJ 40 000,00 DAJ 900,00 3a 3

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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General ledger of Zama Traders
Trading Stock
2020
125 000,00 Jun
2020
Jun
1Balance
з0 Bank
b/d
CPJ
Creditors Control a
DAJ
30 Cost of Sales
Cost of Sales
CRJ
75 000,00
DJ
40 000,00
CAJ
8 000,00
Debtors Control
2020
2020
Jun
Band and
30 Discount allowed CRJ
b/d
DJ
1Balance
85 000,00 Jun
45 000
30 Sales
40 000,00
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
Transcribed Image Text:General ledger of Zama Traders Trading Stock 2020 125 000,00 Jun 2020 Jun 1Balance з0 Bank b/d CPJ Creditors Control a DAJ 30 Cost of Sales Cost of Sales CRJ 75 000,00 DJ 40 000,00 CAJ 8 000,00 Debtors Control 2020 2020 Jun Band and 30 Discount allowed CRJ b/d DJ 1Balance 85 000,00 Jun 45 000 30 Sales 40 000,00 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
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