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
Prepare the following subsidiary journals for Clivia Traders for February
2020:
Q.4.1.1
Q.4.1.2 Cashbook receipts (11)
Q.4.1.1-
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Doc |
Day |
Name of payee |
Fol . |
Bank |
Creditors control |
Input VAT |
Purchases |
Sundry Accounts |
|
|
| Amount | Fol. | Details |
Q.4.1.2.-
|
Doc |
|
Day |
Details |
Fol . |
Analysis of receipts |
Bank |
Output VAT |
Sales |
Sundry Accounts |
|
Cost of sales |
|
|
Amount Fol Details |
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