Literature is a bookstore which buys and sells a variety of books and magazines. The business is a registered VAT vendor, and it is the policy of the business to buy only from other vendors who can provide tax invoices. September 2023 is the business's first month of trading. The bookkeeper has the following petty cash vouchers on file for the month. September 2023: list of petty cash vouchers Day Details Doc. no. Reason 3 Chemren Stationery PC1 Business stationery 5 Forsman's Garage PC2 Petrol for the delivery van 6 Grocery Mall PC3 Tea, coffee and sugar for staff 24 Chemren Stationery PC4 Business stationery 25 Forsman's Garage PC5 R 185.00 of this amount was for 30 John Penn PC6 petrol, and the remainder was for repairs to the business vehicle Part-time wages Amount paid (R) 400 280 806 334 1 480 1 500

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 3PA
icon
Related questions
Question

Required:           
Draw up the petty cash journal for the month with analysis columns for petty cash, input VAT, stationery, 
petrol and sundries.  

Use the below table format and round off answers to the nearest rand. 
Show all calculations. 

Literature is a bookstore which buys and sells a variety of books and magazines. The business is a
registered VAT vendor, and it is the policy of the business to buy only from other vendors who can provide
tax invoices. September 2023 is the business's first month of trading.
The bookkeeper has the following petty cash vouchers on file for the month.
September 2023: list of petty cash vouchers
Day
Details
Doc. no.
Reason
3
Chemren Stationery
PC1
Business stationery
5
Forsman's Garage
PC2
Petrol for the delivery van
6
Grocery Mall
PC3
Tea, coffee and sugar for staff
24
Chemren Stationery
PC4 Business stationery
25
Forsman's Garage
PC5
R 185.00 of this amount was for
30
John Penn
PC6
petrol, and the remainder was for
repairs to the business vehicle
Part-time wages
Amount paid (R)
400
280
806
334
1 480
1 500
Transcribed Image Text:Literature is a bookstore which buys and sells a variety of books and magazines. The business is a registered VAT vendor, and it is the policy of the business to buy only from other vendors who can provide tax invoices. September 2023 is the business's first month of trading. The bookkeeper has the following petty cash vouchers on file for the month. September 2023: list of petty cash vouchers Day Details Doc. no. Reason 3 Chemren Stationery PC1 Business stationery 5 Forsman's Garage PC2 Petrol for the delivery van 6 Grocery Mall PC3 Tea, coffee and sugar for staff 24 Chemren Stationery PC4 Business stationery 25 Forsman's Garage PC5 R 185.00 of this amount was for 30 John Penn PC6 petrol, and the remainder was for repairs to the business vehicle Part-time wages Amount paid (R) 400 280 806 334 1 480 1 500
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SWFT Comprehensive Vol 2020
SWFT Comprehensive Vol 2020
Accounting
ISBN:
9780357391723
Author:
Maloney
Publisher:
Cengage
Individual Income Taxes
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
SWFT Individual Income Taxes
SWFT Individual Income Taxes
Accounting
ISBN:
9780357391365
Author:
YOUNG
Publisher:
Cengage
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College