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Question 2 Cashbook Receipts of Towel Talk - February 2021 The following information was taken from the books of Towel Talk for January and February 2021: DOC DATE DETAILS FOL BANK DESTORS OUTPUT SALES SUNDRIES List of balances in the Debtors Ledger of Towel Talk as at 31 January 2021: CONTROL VAT AMOUNT FOL DETAILS NO CR A Pitt 20 00 2 700 18 000 Debtor CRI347 H. . 3795 495 3 300 Fol Amount Services Homer Rendered LSimpson D1 R12 000 DR28 14 L D1 8000 8000 Marvel Ltd D2 R13 900 Simpson RGreen D3 R9 600 CRIIS 19 Cash 27600 3600 24 000 R2 300 DR29 23 D. Patel os 24 961 24961 Home Centre Ltd D4 DR30 26 L 5985 5985 D Patel D5 R16 500 Simpson RS4 300 6 795 3 300 91041 38946 42000 O The independent institute of tducation (yi 2021 Pagesof Pageof 21 2021 General Journal of Towel Talk - February 2021 21 2021 DOC DATE DETAILS FOL DEBIT CREDIT NO JV25 23 Sales 1 143 Debtors Journal of Towel Talk - February 2021 Input VAT 171 DOC NO DATE DETAILS FOL DEBTORS OUTPUT SALES Debtors Control/D. Patel (Settlement Discount of SN) DS 1 314 CONTROL VAT INV203 2 Marvel Ltd DZ 17 250 2 250 15 000 JV26 26 Sales 274 INV204 8 Home Centre Ltd D4 24 150 3 150 21 000 Input VAT 41 INV205 12 L Simpson D1 2 875 375 2 500 Debtors Control/L Simpson D1 315 INV206 18 D. Patel D5 9 775 1275 8 500 (Settlement Discount of 5%) COZANI INV207 22 R. Green D3 1093 143 950 JV27 28 Credit losses 23 000 INV208 24 L. Simpson D1 5 175 675 4 500 Input VAT 3 450 INV209 28 D. Patel DS 2 300 300 2 000 Debtors Control/Home D4 26 450 62 618 8 168 54 450 Centre (Amount written off as irrecoverable) Debtors Allowances Journal of Towel Talk- February 2021 28 Debtors Control/Marvel Ltd D2 ? JV28 DOC NO DATE DETAILS FOL DEBTORS INPUT VAT SALES Interest Received CONTROL RETURNS (Interest for the month on overdue CN45 4 Marvel Ltd D2 2 875 375 2 500 account at 10% per annum calculated CN46 13 L. Simpson D1 575 75 500 on the month end balance) CN47 23 R. Green D3 230 30 200 CN48 25 L Simpson D1 5 175 675 4 500 Additional information: 8 855 1155 7 700 The cheque received from L. Simpson on the 26" February in settlement of her account was returned by the bank marked R/D on the 28 February 2021. This transaction has not Cashbook Receipts of Towel Talk-February 2021 yet been recorded. The debtors control and debtors list was reconciled on the 31" January 2021

Question 2 Cashbook Receipts of Towel Talk - February 2021 The following information was taken from the books of Towel Talk for January and February 2021: DOC DATE DETAILS FOL BANK DESTORS OUTPUT SALES SUNDRIES List of balances in the Debtors Ledger of Towel Talk as at 31 January 2021: CONTROL VAT AMOUNT FOL DETAILS NO CR A Pitt 20 00 2 700 18 000 Debtor CRI347 H. . 3795 495 3 300 Fol Amount Services Homer Rendered LSimpson D1 R12 000 DR28 14 L D1 8000 8000 Marvel Ltd D2 R13 900 Simpson RGreen D3 R9 600 CRIIS 19 Cash 27600 3600 24 000 R2 300 DR29 23 D. Patel os 24 961 24961 Home Centre Ltd D4 DR30 26 L 5985 5985 D Patel D5 R16 500 Simpson RS4 300 6 795 3 300 91041 38946 42000 O The independent institute of tducation (yi 2021 Pagesof Pageof 21 2021 General Journal of Towel Talk - February 2021 21 2021 DOC DATE DETAILS FOL DEBIT CREDIT NO JV25 23 Sales 1 143 Debtors Journal of Towel Talk - February 2021 Input VAT 171 DOC NO DATE DETAILS FOL DEBTORS OUTPUT SALES Debtors Control/D. Patel (Settlement Discount of SN) DS 1 314 CONTROL VAT INV203 2 Marvel Ltd DZ 17 250 2 250 15 000 JV26 26 Sales 274 INV204 8 Home Centre Ltd D4 24 150 3 150 21 000 Input VAT 41 INV205 12 L Simpson D1 2 875 375 2 500 Debtors Control/L Simpson D1 315 INV206 18 D. Patel D5 9 775 1275 8 500 (Settlement Discount of 5%) COZANI INV207 22 R. Green D3 1093 143 950 JV27 28 Credit losses 23 000 INV208 24 L. Simpson D1 5 175 675 4 500 Input VAT 3 450 INV209 28 D. Patel DS 2 300 300 2 000 Debtors Control/Home D4 26 450 62 618 8 168 54 450 Centre (Amount written off as irrecoverable) Debtors Allowances Journal of Towel Talk- February 2021 28 Debtors Control/Marvel Ltd D2 ? JV28 DOC NO DATE DETAILS FOL DEBTORS INPUT VAT SALES Interest Received CONTROL RETURNS (Interest for the month on overdue CN45 4 Marvel Ltd D2 2 875 375 2 500 account at 10% per annum calculated CN46 13 L. Simpson D1 575 75 500 on the month end balance) CN47 23 R. Green D3 230 30 200 CN48 25 L Simpson D1 5 175 675 4 500 Additional information: 8 855 1155 7 700 The cheque received from L. Simpson on the 26" February in settlement of her account was returned by the bank marked R/D on the 28 February 2021. This transaction has not Cashbook Receipts of Towel Talk-February 2021 yet been recorded. The debtors control and debtors list was reconciled on the 31" January 2021

FINANCIAL ACCOUNTING
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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Prepare the debtors list of Towel Talk as at 28 February 2021. (Round off to
the nearest rand) (Show all workings)

Q.2.3 DEBTORS LIST OF TOWEL TALK AS AT 28 FEBRUARY 2021 DEBTOR FOL AMOUNT
Transcribed Image Text:Q.2.3 DEBTORS LIST OF TOWEL TALK AS AT 28 FEBRUARY 2021 DEBTOR FOL AMOUNT
Question 2 Cashbook Receipts of Towel Talk - February 2021 The following information was taken from the books of Towel Talk for January and February 2021: DOC DATE DETAILS FOL BANK DEBTORS OUTPUT SALES SUNDRIES List of balances in the Debtors Ledger of Towel Talk as at 31 January 2021: NO CONTROL AMOUNT FOL DETAILS VAT CR333 B Pitt 20 700 2 700 18 000 Fol CR3347 H. 3795 Debtor Amount 495 3300 Services Homer Rendered L Simpson D1 R12 000 DR28 14 D1 8 000 8 000 Marvel Ltd D2 R13 900 Simpson CR335 19 DR29 23 DR30 26 Cash 3 600 27 600 24 961 5 985 R Green D3 R9 600 24 000 R2 300 D. Patel DS 24 961 Home Centre Ltd D4 L D1 5 985 D Patel D5 R16 500 Simpson R54 300 91 041 地946 6 795 42 000 3300 O The Independent Institute of Education (Pty) Ltd 2021 Page Sof Page 4 of 21 2021 General Journal of Towel Talk - February 2021 21 2021 DATE DETAILS FOL DEBIT DOC CREDIT NO JV25 23 Sales 1 143 Debtors Journal of Towel Talk - February 2021 Input VAT 171 DOC NO DATE DETAILS FOL DEBTORS OUTPUT SALES Debtors Control/D. Patel D5 1 314 CONTROL VAT (Settlement Discount of 5%) INV203 2 Marvel Ltd D2 17 250 2 250 15 000 JV26 26 Sales 274 INV204 Home Centre Ltd D4 24 150 3 150 21 000 Input VAT 41 INV205 12 L. Simpson D1 2 875 375 2 500 Debtors Control/L. Simpson D1 315 INV206 18 D. Patel D5 9 775 1275 8 500 (Settlement Discount of 5%) INV207 22 R. Green D3 1 093 143 950 JV27 28 Credit losses 23 000 INV208 24 L. Simpson D1 5 175 675 4 500 Input VAT 3 450 INV209 28 D. Patel D5 2 300 300 2 000 Debtors Control/Home D4 26 450 62 618 8 168 54 450 Centre (Amount written off as irrecoverable) Debtors Allowances Journal of Towel Talk - February 2021 Debtors Control/Marvel Ltd D2 JV28 28 DOC NO DATE DETAILS FOL DEBTORS INPUT VAT SALES Interest Received CONTROL RETURNS (Interest for the month on overdue CN45 4 Marvel Ltd D2 2 875 375 2 500 account at 10% per annum calculated CN46 13 L. Simpson D1 575 75 500 on the month end balance) CN47 23 R. Green D3 230 30 200 CN48 L. Simpson D1 5 175 4 500 Additional information: 25 675 8 855 7 700 The cheque received from L. Simpson on the 26 February in settlement of her account 1155 was returned by the bank marked R/D on the 28 February 2021. This transaction has not Cashbook Receipts of Towel Talk - February 2021 yet been recorded. The debtors control and debtors list was reconciled on the 31" January 2021
Transcribed Image Text:Question 2 Cashbook Receipts of Towel Talk - February 2021 The following information was taken from the books of Towel Talk for January and February 2021: DOC DATE DETAILS FOL BANK DEBTORS OUTPUT SALES SUNDRIES List of balances in the Debtors Ledger of Towel Talk as at 31 January 2021: NO CONTROL AMOUNT FOL DETAILS VAT CR333 B Pitt 20 700 2 700 18 000 Fol CR3347 H. 3795 Debtor Amount 495 3300 Services Homer Rendered L Simpson D1 R12 000 DR28 14 D1 8 000 8 000 Marvel Ltd D2 R13 900 Simpson CR335 19 DR29 23 DR30 26 Cash 3 600 27 600 24 961 5 985 R Green D3 R9 600 24 000 R2 300 D. Patel DS 24 961 Home Centre Ltd D4 L D1 5 985 D Patel D5 R16 500 Simpson R54 300 91 041 地946 6 795 42 000 3300 O The Independent Institute of Education (Pty) Ltd 2021 Page Sof Page 4 of 21 2021 General Journal of Towel Talk - February 2021 21 2021 DATE DETAILS FOL DEBIT DOC CREDIT NO JV25 23 Sales 1 143 Debtors Journal of Towel Talk - February 2021 Input VAT 171 DOC NO DATE DETAILS FOL DEBTORS OUTPUT SALES Debtors Control/D. Patel D5 1 314 CONTROL VAT (Settlement Discount of 5%) INV203 2 Marvel Ltd D2 17 250 2 250 15 000 JV26 26 Sales 274 INV204 Home Centre Ltd D4 24 150 3 150 21 000 Input VAT 41 INV205 12 L. Simpson D1 2 875 375 2 500 Debtors Control/L. Simpson D1 315 INV206 18 D. Patel D5 9 775 1275 8 500 (Settlement Discount of 5%) INV207 22 R. Green D3 1 093 143 950 JV27 28 Credit losses 23 000 INV208 24 L. Simpson D1 5 175 675 4 500 Input VAT 3 450 INV209 28 D. Patel D5 2 300 300 2 000 Debtors Control/Home D4 26 450 62 618 8 168 54 450 Centre (Amount written off as irrecoverable) Debtors Allowances Journal of Towel Talk - February 2021 Debtors Control/Marvel Ltd D2 JV28 28 DOC NO DATE DETAILS FOL DEBTORS INPUT VAT SALES Interest Received CONTROL RETURNS (Interest for the month on overdue CN45 4 Marvel Ltd D2 2 875 375 2 500 account at 10% per annum calculated CN46 13 L. Simpson D1 575 75 500 on the month end balance) CN47 23 R. Green D3 230 30 200 CN48 L. Simpson D1 5 175 4 500 Additional information: 25 675 8 855 7 700 The cheque received from L. Simpson on the 26 February in settlement of her account 1155 was returned by the bank marked R/D on the 28 February 2021. This transaction has not Cashbook Receipts of Towel Talk - February 2021 yet been recorded. The debtors control and debtors list was reconciled on the 31" January 2021
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