Q.4.1 Prepare the following subsidiary journals for Clivia Traders for February 2020: Q.4.1.1 Cashbook payments (14) Q.4.1.2 Cashbook receipts (11)
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 :
DATE TRANSACTION
1 Owner contributed R5 000 cash
4 Cash sales R13 800 including VAT
6 Cash purchases R8 000 excluding VAT
10 Paid Telkom for telephone account R345
15 Paid R2 000 towards a loan settlement with Mzanzi Bank
20 Cash sales R5 750 including VAT
23 Cash purchases R4 600 including VAT
25 Paid wages R800
Q.4.1 Prepare the following subsidiary journals for Clivia Traders for February
2020:
Q.4.1.1
Q.4.1.2 Cashbook receipts (11)
Note: Document numbers and folios are not required
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