QUESTION 3 CRJ, CPJ, DJ AND CJ 34 marks Alicia Newton's is the owner of JM traders. The business uses a mark-up percentage of 25% on cost REQUIRED 3.1 Cash Receipts journal with analysis columns for Analysis of receipts, Bank, Sales, Cost of Sales and Sundry accounts. 3.2 Cash Payments Journal with analysis columns for Bank, Trading stock, Wages, Stationery and Sundry accounts. 3.3 Creditors journal with analysis columns for Creditors control, Trading stock, Equipment and sundry accounts 3.4 Debtors Journal Page NOTE: DO NOT ADD THE JOURNALS L TRANSACTIONS FOR THE MONTH OF JULY 2021. DAY 1 DATAILS Received additional Capital from the owner Alicia Newton of R50 000, receipt 120 Paid Daily Moon for Advertising RT 900 (EFT ref. 25) 3 8 Paid the weekly Wages, R 4500 10 Goods sold on credit to the following RRanaka R 2400 Inv 122 Trading stock bought on credit from TT Traders, R35 000, Invoice 66 Stationery bought on credit from CAN Stationers for R650, Invoice 67 issued 22 Cash sales of Merchandise, R 7600 (CS26-33) 25 Salary paid to Bongiwe, R 10 000, electronically 26 Paid weekly Wages, R 4 500 28 29 Paid by EFT AB wholesalers for Trading stock, R12 000 and Stationery, R500 bought The bank statement received from Capita Bank shows the following: Bank charges, R350, Interest on current account, R210 30 Issued an invoice to R Mohlala for goods sold, R1 600 4/6
QUESTION 3 CRJ, CPJ, DJ AND CJ 34 marks Alicia Newton's is the owner of JM traders. The business uses a mark-up percentage of 25% on cost REQUIRED 3.1 Cash Receipts journal with analysis columns for Analysis of receipts, Bank, Sales, Cost of Sales and Sundry accounts. 3.2 Cash Payments Journal with analysis columns for Bank, Trading stock, Wages, Stationery and Sundry accounts. 3.3 Creditors journal with analysis columns for Creditors control, Trading stock, Equipment and sundry accounts 3.4 Debtors Journal Page NOTE: DO NOT ADD THE JOURNALS L TRANSACTIONS FOR THE MONTH OF JULY 2021. DAY 1 DATAILS Received additional Capital from the owner Alicia Newton of R50 000, receipt 120 Paid Daily Moon for Advertising RT 900 (EFT ref. 25) 3 8 Paid the weekly Wages, R 4500 10 Goods sold on credit to the following RRanaka R 2400 Inv 122 Trading stock bought on credit from TT Traders, R35 000, Invoice 66 Stationery bought on credit from CAN Stationers for R650, Invoice 67 issued 22 Cash sales of Merchandise, R 7600 (CS26-33) 25 Salary paid to Bongiwe, R 10 000, electronically 26 Paid weekly Wages, R 4 500 28 29 Paid by EFT AB wholesalers for Trading stock, R12 000 and Stationery, R500 bought The bank statement received from Capita Bank shows the following: Bank charges, R350, Interest on current account, R210 30 Issued an invoice to R Mohlala for goods sold, R1 600 4/6
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Answers for 3.4
Transcribed Image Text:QUESTION 3 CRJ, CPJ, DJ AND CJ
34 marks
Alicia Newton's is the owner of JM traders. The business uses a mark-up percentage
of 25% on cost
REQUIRED
3.1 Cash Receipts journal with analysis columns for
Analysis of receipts, Bank, Sales, Cost of Sales and Sundry accounts.
3.2 Cash Payments Journal with analysis columns for
Bank, Trading stock, Wages, Stationery and Sundry accounts.
3.3 Creditors journal with analysis columns for
Creditors control, Trading stock, Equipment and sundry accounts
3.4 Debtors Journal
Page
NOTE: DO NOT ADD THE JOURNALS
L
TRANSACTIONS FOR THE MONTH OF JULY 2021.
DAY
1
DATAILS
Received additional Capital from the owner Alicia Newton of R50 000, receipt
120
Paid Daily Moon for Advertising RT 900 (EFT ref. 25)
3
8
Paid the weekly Wages, R 4500
10
Goods sold on credit to the following
RRanaka R 2400 Inv 122
Trading stock bought on credit from TT Traders, R35 000, Invoice 66
Stationery bought on credit from CAN Stationers for R650, Invoice 67 issued
22
Cash sales of Merchandise, R 7600 (CS26-33)
25
Salary paid to Bongiwe, R 10 000, electronically
26
Paid weekly Wages, R 4 500
28
29
Paid by EFT AB wholesalers for Trading stock, R12 000 and Stationery, R500
bought
The bank statement received from Capita Bank shows the following: Bank
charges, R350, Interest on current account, R210
30
Issued an invoice to R Mohlala for goods sold, R1 600
4/6
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education