Q2) Katie is a trader and carried out following transactions during Oct 20-4. The following transactions took place in October 20-4: October 2 Bought goods on credit from Zara, $1500 7 Returned goods to Zara, $80 (hint: One entry will be purchase return which is always credited) 14 Paid Zara a cheque for the amount owing on 1 October 20-4 21 Cash received from sales of goods, paid directly into the bank, $940 ( hint: This entry will not be added to Zara trade payable account) 28 Katie took goods for her own use, $140 -Opening balance on 1st Oct 20-4 in Zaras account was $ 1760. a) prepare general journal entries for the above transactions: b) Prepare Zaras account in the book of Katie and balance the bank account and Zara's account and bring down the balances on 1 November 20-4. Hint: Zaras account will be the Trade payable/accounts payable account)

Q2) Katie is a trader and carried out following transactions during Oct 20-4. The following transactions took place in October 20-4: October 2 Bought goods on credit from Zara, $1500 7 Returned goods to Zara, $80 (hint: One entry will be purchase return which is always credited) 14 Paid Zara a cheque for the amount owing on 1 October 20-4 21 Cash received from sales of goods, paid directly into the bank, $940 ( hint: This entry will not be added to Zara trade payable account) 28 Katie took goods for her own use, $140 -Opening balance on 1st Oct 20-4 in Zaras account was $ 1760. a) prepare general journal entries for the above transactions: b) Prepare Zaras account in the book of Katie and balance the bank account and Zara's account and bring down the balances on 1 November 20-4. Hint: Zaras account will be the Trade payable/accounts payable account)

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Description: Q2) Katie is a trader and carried out followingtransactions during Oct 20-4.The following transactions took place inOctober 20-4:October 2 Bought goods on credit from Zara, $15007 Returned goods to Zara, $80 ( hint: One entrywill be purchase return

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Good day, please may you help me with accounting debtors journal and allowances on Nerina traders a gift shop situated in Illovo. debtors journal headings day,details,debtors controloutput vat,sales debtors allowances headings day,debtors control,input vat ,sales return
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Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: a. Sold merchandise for cash, $22,060. The cost of the merchandise sold was $13,240. (Record the sale first.) fill in the blank 36fbb5ffffdef81_2 fill in the blank 36fbb5ffffdef81_3 fill in the blank 36fbb5ffffdef81_5 fill in the blank 36fbb5ffffdef81_6 fill in the blank 36fbb5ffffdef81_8 fill in the blank 36fbb5ffffdef81_9 fill in the blank 36fbb5ffffdef81_11 fill in the blank 36fbb5ffffdef81_12 b. Sold merchandise on account, $13,920. The cost of the merchandise sold was $8,350. (Record the sale first.) fill in the blank e95153f82fd6002_2 fill in the blank e95153f82fd6002_3 fill in the blank e95153f82fd6002_5 fill in the blank e95153f82fd6002_6 fill in the blank e95153f82fd6002_8 fill in the blank e95153f82fd6002_9 fill in the blank e95153f82fd6002_11 fill in the blank e95153f82fd6002_12…
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