On 31 December 20.2, the end of the financial year for Kiyu Traders, the total amount of unused packing material was R4 500. The amount reflecting in the trial balance for packing material at year-end was R6 000. The correct general ledger entries in the packing material account of Kiyu Stores on 31 December 202 are Time left 1:43:29 Instructions: 1. First do the adjustment general ledger entries and then do your closing transfer general ledger entries. 2. Use a full stop to indicate any decimals (eg: 1000.01) 3. Round off to the second decimal after the full stop (eg: 50.56) Dr 20.2 Dec 31 KIYU STORES GENERAL LEDGER R Packing material 20.2 Dec 31 ÷ R Cr 49
On 31 December 20.2, the end of the financial year for Kiyu Traders, the total amount of unused packing material was R4 500. The amount reflecting in the trial balance for packing material at year-end was R6 000. The correct general ledger entries in the packing material account of Kiyu Stores on 31 December 202 are Time left 1:43:29 Instructions: 1. First do the adjustment general ledger entries and then do your closing transfer general ledger entries. 2. Use a full stop to indicate any decimals (eg: 1000.01) 3. Round off to the second decimal after the full stop (eg: 50.56) Dr 20.2 Dec 31 KIYU STORES GENERAL LEDGER R Packing material 20.2 Dec 31 ÷ R Cr 49
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On 31 December 20.2, the end of the financial year for Kiyu Traders, the total amount of unused packing material
was R4 500. The amount reflecting in the trial balance for packing material at year-end was R6 000.
The correct general ledger entries in the packing material account of Kiyu Stores on 31 December 202 are
Time left 1:43:29
Instructions:
1.
First do the adjustment general ledger entries and then do your closing transfer general ledger entries.
2.
Use a full stop to indicate any decimals (eg: 1000.01)
3.
Round off to the second decimal after the full stop (eg: 50.56)
Dr
20.2
Dec 31
KIYU STORES
GENERAL LEDGER
R
Packing material
20.2
Dec 31
÷
R
Cr
49
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