NAME: _______________ CLASS: 9____
GRADE 9
EMS
ACCOUNTING
BOOKLET
2023
INDEX:
1.
NOTES:
•
•
•
•
•
•
•
Accounting Theory
Accounting cycle
Accounting Equation
Cash Receipts Journal
Cash Payments Journal
General Ledger
Debtors Journal, Debtors Allowance Journal and Debtors
Ledger
• Creditors Journal, Creditors Allowance Journal and Creditors
Ledger
• Trial Balance
2.
ACTIVITIES
ACCOUNTING THEORY
ASSETS
•
•
•
Owned by the business and has value and can be converted into cash.
Non-current / Fixed-Assets: help the business make money and aren’t exchanged for
money
• Land and buildings
•
Vehicles
•
Equipment
Current assets: items that can be converted into cash
• Trading stock
•
Amount owing by customers (debtors)
•
Money in bank
•
Cash in register
•
Petty cash
OWNER’S EQUITY
•
Amount the business owes the owner
•
OE increases when business receives money and vice versa
•
All income and expenses classified as OE
LIABILITIES
•
Non-current
•
Mortgage bond
•
Loans
•
Current
•
Money owed by the business to other businesses (creditors
•
Bank overdraft
1
ACCOUNTING CYCLE
1.Transactions
Financial
Statements
2. Source
Document
Trial Balance
3. Subsidiary
journals
General
Ledger
GOODS AND SERVICES
Sell products/merchandise/trading stock = SALES
Offer a service for money = CURRENT INCOME
2
ACCOUNTING EQUATION
A = OE + L
A: Assets
O: Owner’s Equity
L: Liabilities
SOURCE DOCUMENTS
Proof that a payment was made to/by the business
If the business RECEIVES money, it goes into the CRJ (Cash Receipts Journal)
If the business PAYS money, it goes into the CPJ (Cash Payments Journal)
Cash Sales / Cash
Register
Debit/Credit Card
EFT / Internet
banking / Directly
into bank account
Interest
Loan
Deposited money at
the bank
CRJ (Received Money)
Cash Register Roll
(CRR)
Cash Register Roll
(CRR)
CPJ (Paid Money)
Cash Register Roll
(CRR)
Cash Register Roll
(CRR)
Bank Statement (B/S)
Bank Statement (B/S)
Bank Statement (B/S)
Bank Statement (B/S)
Bank Statement (B/S)
Bank Statement (B/S)
Receipt (REC)
Deposit Slip
3
JOURNALS
All journals get posted to the ledgers at the end of the month.
CRJ, CPJ, DJ, DAJ, CJ, CAJ
Cash Receipts Journal [CRJ]
1. Identify the business name. You are the accountant for the business, and for what
month you doing the books for. Is it a service business or a Trading business ?
2.
In every transaction there are trigger words for the entries in the CRJ
e.g. received cash, issued original receipt/cash slip [CRR]
3.
Money coming in.
3.
4.
5.
Which TWO accounts are affected.
If no column it goes to sundry account.
Source Document:
• number in numerical order. e.g. Receipt or CRR [ Cash Register Roll,
CRR for cash sales. Receipt if you require name of who paid you.
• EFT or B/S for direct deposit in your account.
• When dealing with Services Rendered according to the cash register roll,
then the Doc Number is always CRR.
6.
Analysis of receipts:
• Money received through the till.
• Holding spot for the day.
• Always underline Analysis of Receipts after the last transaction for that
date[day].
• Never total the Analysis of Receipts column. It’s the “till”. It is emptied
every day so at the end of the month there isn’t the whole month
amount of money in there
7.
Details:
• When you receive money for services rendered, you write ‘Services
Rendered’ in details and record the amount in the Current Income column.
[GRADE8]
• When you receive a EFT OR payment via internet banking, you will record
the name of the person in details.
• If it’s a Trading business than in details you write sales and record the amount
in the Sales and Cost of Sales columns.
8.
Write the total amount of money DEPOSITED for the day in Bank.
9.
Clues for CRJ: Received a EFT/issued a receipt/cash received.
10. Always record each transaction in two columns due to the double entry system.
11. At the end of the month total all the columns. All the columns should equal up to
the Bank, excluding Cost of Sales.
BANK TOTAL = SALES+ DEBTORS CONTROL+ SUNDRY ACCOUNT
[ALWAYS EXCLUDE: COST OF SALES]
4
CALCULATION
100
CP = SP X (100+𝑚𝑢)
CP = Cost Price (Cost of Sales)
SP = CP X
MU =
SP = Selling Price
(100+𝑀𝑈)
(𝑆𝑃−𝐶𝑃)
𝐶𝑃
100
MU = Mark up (%)
X 100
Link between Cost price, Cost of Sales and
gross profit:
Cost of sales [CP] + [ Mark Up [MU]
Sales - Cost of Sales = Gross Profit
e.g.
= SELLING PRICE [SP]
make up 25%
No.
Selling Price (in Rands)
A
4 500
B
Cost Price (in Rants)
45%
5 000
C
12 000
D
11 000
E
130%
F
8 500
7 000
G
500
320
H
480
750
K
6800
L
M
28%
500
120%
6 750
1 500
360%
10%
900
J
15%
4 000
120
I
Mark Up
200%
500
5
CASH RECEIPTS JOURNAL OF KYLIE’S SALON FOR MARCH 2017
DOC
DAY
DETAILS
F
O
L
ANALYSIS
OF
RECEIPT
BANK
SALES
COST
OF
SALES
[SP]
B/S
2
CRR 5
CRR 7
REC3
Kylie
Sales
SALES
L.FOURIE
2000
1200
500
50 000
2000
1700
53 700
DEBTORS
CONTROL
SUNDRY
FOL
ACCOUNTS
Amount
Details
50 000
Capital
[CP]
2000
1200
1600
960
3 200
500
2560 500
50 000
Cash Payments Journal [CPJ]
1. Source Document: “is what you holding in your hand when you record a payment
we have made?”
E.G: BANK STATEMENT, Via internet banking
If the transaction states it was directly deposited or paid via EFT then source
document is Bank Statement- B/S.
2. Name of Payee: “who did you pay look at the beneficiary list on your bank
statement that is whose name of payee
3. Bank column amount in CPJ is the same amount you paid from bank account. You
only record the actual amount at the bottom of the bank account the total
amount.
4. Wages is paid in cash there for you write cash as the document you will be looking
at to pay wages is a bank statement and it will have a cash withdrawal from it. To
pay in cash the business draws cash from the ATM to pay the wages, therefore the
bank statement is the source document and it will say cash withdrawal.
CASH PAYMENTS JOURNAL OF KYLIE’S SALON FOR MARCH 2017
DOC
D
Name
FOL BANK TRADING STATIONTERY
A
Of
STOCK
Y
Payee
B/S
CC01
CC02
B/S
2
Nail
Supplier
5
Game
8
Telkom
SA Ltd
12 Makro
CREDITORS
CONTROL
SUNDRY
FOL
ACCOUNTS
Amount
Details
2000
300
Equipment
Telephone
4000 4000
2500
300
500
500
7300 4000
500
500
500
2300
6
GENERAL LEDGER
ORDER FOR THE GENERAL LEDGER
BALANCE SHEET ACCOUNT SECTION
OWNERS EQUITY
B1- CAPITAL
B2- DRAWINGS
FIXED ASSET
B3- LAND AND BUILDING
B4- VEHICLES
B5- EQUIPMENT
CURRENT ASSETS
B6- TRADING STOCK
B7- DEBTORS CONTROL
B8- BANK
B9- CASH FLOAT
B10- PETTY CASH
NON CURRENT LIABILITY
B11 – LOAN
CURRENT LIABILITY
B12- CREDITORS CONTROL
B13- BANK “OVERDRAFT”
NOMINAL SHEET ACCOUNT SECTION
INCOME
N1- CURRENT INCOME OR SALES
N2- COST OF SALES
N3- OTHER INCOME
N4- DEBTORS ALLOWANCE
EXPENSES
N5- IN ALPHABETICAL ORDER
7
Owners’
Equity
Assets
Current
Trading Stock
Money owed by customers
(debtors)
Money in bank account
Cash in cash register
Petty Cash
Non-current / Fixed
Land and Buildings
Vehicles
Equipment
Liabilities
Current
Total investment
the owner has in
the business
Money business owes to
other businesses (creditors)
Overdraft
Non-current
Bond / Mortgage
Loan
DEBIT
D
CREDIT
Debtors
Money is owed to the business from a
person who buys on account/credit
(Affects a business’s liabilities)
E
Expenses
Rent expense
Electricity
Water
Stationery
Salary
A
D
L
Personal Use
eg. Owner takes trading stock for
personal use.
Liabilities
Bond / Mortgage
Loan
I
Income
Current Income
Sales
Rent Income
Interest Received
Vehicle
Land & Buildings
Computers
Drawings
Creditors
Business owes money to another
business that was bought on credit
(Affects a business’s liabilities)
Wages
Maintenance
Repairs
Interest Paid
Consumables
Assets
Bank
Equipment
Trading Stock
Machinery
C
C
Capital
Money used to start/maintain a business
8
GENERAL LEDGERS [GL]:
1. For every DEBIT there is a CREDIT and for every CREDIT there is a DEBIT.
Trading Business:
e.g. Aunty Monty sells chips R 10 [SP] at the heart. [ CP R5]
[ you are the accountant for The Heart]
The heart’s [Asset] Trading Stock [CHIPS] decreases [credit side]
The heart’s [Asset] Bank [MONEY] increases [debit side].
Dr
Bank
Cr
Dr
Sales
R10
D
E
A
D
C
L
I
C
Cr
R10
DR Trading Stock
CR
R5
DR
Cost of Sales CR
R5
2. Remember when posting from Journals to General Ledger indicate in the FOL
column in the Journals where you are posting that information too.
3. To add the correct FOL in the General Ledger where are you getting the info
from- which journal. CRJ, CPJ, DJ, CJ
4. If the business is a new business [1st month of operation] all journals are 1.
e.g. CRJ1, CPJ1, DJ1 and CJ1
OR
If the business has been running for more than one month [ you will know this if
there are balances from the month before.] Then you can make it any number
more than 1 unless its stipulates how many months the business has been running
or If not given.
e.g. CRJ3, CPJ3, DJ3 and CJ3
5. Steps in recording accounting transactions:
• Record opening balances and totals from previous months Trial Balance or
opening balances and totals that are given? [only if the business has been
open for more than 1 month.]
N.B: use DEAD CLIC to determine which side to record balances and totals
B accounts “1 Balance b/d”
N accounts “ 1 Total b/d”
•
Read the Transaction!
- Determine the TWO Accounts. CASH or CREDIT transaction?
If cash then BANK account.
9
-
If credit then DEBTOR or CREDITOR replaces Bank.
CATEGORISE the TWO accounts: USING DEAD CLIC
Has the account & category INCREASED or DECREASED?
Refer to the DR CR TABLE to decide whether to debit or credit the TWO
accounts.
For every DEBIT ENTRY there is an equal & corresponding CREDIT ENTRY.
BALANCING
• ONLY Balance The balance sheet account section
• Once you have posted all information from the journals to the right
accounts then you can balance.
• C/D AND B/D are always on the opposite side from step 5 and step 6
EXAMPLE:Vehicle R 45 000 -31st March 2016
Vehicle bought by cheque on the -10th April 2016 R85 000
Vehicle sold at cost price on the -20th April 2016 R35 000
Balance for April 2016
Vehicle is an asset. [INCREASE ON DEBIT SIDE AND DECREASES CREDIT SIDE]
STEP 1: PLOT ALL INFORMATION [ LOOK - OPENING BALANCES & LOOK AT ALL JOURNALS]
Dr
Cr
A+
VEHICLE
A-
B4
STEP 2: WHICH SIDE IS BIGGER? THEN TOTAL THAT SIDE.
Dr
Cr
2016 1
APRIL
10
VEHICLE
BALANCE
BANK
B/D
45 000
CPJ2
85 000
2016 20
APRIL
B4
BANK
CRJ 2
35 000
10
STEP 3: MAKE THE OTHER SIDE EQUAL
DOES NOT EQUAL MAKE IT
EQUAL
Total minus what you have]
Dr
Cr
2016 1
APRIL
10
VEHICLE
BALANCE
BANK
B/D
CPJ2
45 000
2016 20
APRIL
B4
BANK
CRJ 2
35 000
85 000
130 000
STEP 4: IT DOES NOT EQUAL THE TOTAL SO MAKE THE OTHER SIDE EQUAL
Dr
Cr
2016 1
APRIL
10
VEHICLE
BALANCE
BANK
B/D
45 000
CPJ2
85 000
2016 20
APRIL
B4
BANK
CRJ 2
130 000
35 000
130 000
STEP 5: MAKE THE OTHER SIDE EQUAL [ ALWAYS C/D TO END OF MONTH]
Dr
Cr
2016 1
APRIL
10
VEHICLE
BALANCE
BANK
2016 20
APRIL
B4
B/D
45 000
BANK
CRJ 2
35 000
CPJ2
85 000
95 000
130 000
130 000
STEP 6: BRING THE AMOUNT FORWARD TO THE NEW MONTH [ALWAYS B/D TO THE NEW
MONTH
Dr
Cr
VEHICLE
B4
2016 1
APRIL
10
BALANCE
BANK
B/D
45 000
CPJ2
85 000
2016 20
APRIL
30
BANK
CRJ 2
35 000
BALANCE
C/D
95 000
130 000
130 000
11
NOMINAL SHEET ACCOUNT SECTION
Dr
Cr
2016
APRIL
Cost of Sales
12
16
TRADING CRJ2
STOCK
TRADING DJ 2
5 000
8 000
13 000
In the Nominal
Account Section
write total in pencil
as it’s a running total.
N2
12
BIG 5
2O18
MARCH
1 BALANCE
31 BANK
B/D
CPJ 4
1
B/D
TRADING STOCK
2018
2000 MARCH
15000
B6
31 COST OF SALES
31 COST OF SALES
31 BALANCE
CRJ 4
DJ4
C/D
17 000
APRI L
2018
MARCH
APRIL
DATE
2018
MARCH
BALANCE
1 BALANCE
31 SALES
1
BALANCE
DAY DETAILS
1 BALANCE
31 TOTAL RECEI PTS
B/D
DJ4
B/D
FOLS
B/D
CRJ 4
17 000
11 000
DEBTORS CONTROL
2018
10 000 MARCH
15000
25 000
17 000
BANK
AMOUNT
DATE
2018
40 000 MARCH
60 000
B7
31 BANK
31 BALANCE
DAY DETAILS
31 TOTAL Payments
31 balance
CRJ 4
C/D
B8
FOL
cpj4
c/d
100 000
APRI L
2018
MARCH
1
BALANCE
31 BANK
31 BALANCE
B/D
CPJ 4
C/D
CREDITORS CONTROL
2018
5000 MARCH
1 BALANCE
45 000
31 TOTAL PURCHASES
20000
80 000
B12
B/D
CJ4
3000
4000
2000
9 000
20000
30000
50 000
COST OF SALES
B/D
CRJ4
DJ4
AMOUNT
80 000
APRI L
1 BALANCE
31 TRADI NG STOCK
31 TRADI NG STOCK
8000
17000
25 000
100 000
50 000
2018
MARCH
4000
2000
11 000
1 BALANCE
B/D
N2
45 000
DEBTORS
13
DEBTORS JOURNAL [DJ]
1. When customers are allowed to buy on credit- CAN’T go in to CRJ it must go into
the DJ as money hasn’t been received.
2. Source Document: a [Credit] Invoice.
TRANSACTION:
6 D.Loubser came in to Kylie’s Salon and bought goods on credit for R3000, I 55
was issued.
10 D Wallace purchased stock from Kylie’s salon & put it on her account. Issued
I56.
6. Kylie’s Salon has 25% mark-up on cost.
DEBTORS JOURNAL OF KYLIE’S SALON
DOC
DAY DETAILS
FOL SALES
COST OF SALE
I 55
6
D. Loubser
D1 3000
2400
I 56
10
D. Wallace
D2 3800
3040
DEBTORS ALLOWANCES JOURNAL [DAJ]
1. Debtor returns goods to supplier [the customer is not happy with the product they
received]
2. Source Document: duplicate Credit Note
TRANSACTION: D.Loubser was unhappy with the quality of item there for she
returned the item to Kylie’s Salon.
Debtors allowance journal of Kylie’s Salon
DOC DAY DETAILS
FOL DEBTORS
COST OF
ALLOWANCES
SALES
CN 5 15
D. Loubser
1000
800
DEBTORS LEDGERS [DL]
1. Working out how much each Debtor is still in debt to the company.
2. The business still has R5 300 worth of assets outstanding from debtors. [1500
+3 800] [customers who owe them money]
CREDITORS
14
CREDITORS JOURNAL [CJ]
1. Used for items you [ the business] buy on credit from another business.
2. The bank column is replaced by Creditors control as no money was PAID.
3. Total amount of invoice your Business has received is in the creditors control
column.
4. Source Document: Original Invoice received.
TRANSACTION:
Kylie went to Makro and bought on account: stock for R4 500, Consumables
R1 000 and a chair for R 1000.
CREDITORS JOURNAL OF KYLIE’S SALON FOR MARCH 2017
DO
C
DA
Y
DETAIL
S
I 03
10
Makro
FO
L
CJ1
CREDITOR
S
CONTROL
TRADIN
G
STOCK
CONSUMABLE
S
SUNDR
Y
6 500
4 500
1000
1000
FO
L
DETAILS
Equipmen
t
CREDITORS ALLOWANCES JOURNAL [CAJ]
DEBTORS LEDGER OF KYLIE’S SALON FOR MAY 20.17
D. LOUBSER
DAY DETAILS
FOL
DEBIT
6
Invoice 55
DJ1
3000
10
Receipt 9
CRJ1
15
Credit Note 5
DAJ1
D. Wallace
DAY DETAILS
FOL
DEBIT
6
Invoice 56
DJ1
3800
CREDIT
1500
1000
CREDIT
D1
BALANCE
3000
1500
500
D2
BALANCE
3800
1. The value of goods returned to the supplier due to a number of reasons. This
reduces the total amount owed to the creditors.
2. Source Document: Duplicate Debit Note
TRANSACTION: Kylie was happy with the chair from Makro therefore she returned
it the chair to Makro.
CREDITORS ALLOWANCE JOURNAL OF KYLIE’S SALON FOR MARCH 2017
DO
C
DA
Y
DETAIL
S
DN
3
15
Makro
FO
L
CREDITOR
S
CONTROL
TRADIN
G
STOCK
CONSUMABLE
S
1000
SUNDR
Y
1000
FO
L
DETAILS
Equipmen
t
CREDITORS LEDGER [CL]
1. CL –What your business buys on credit from another business.
2. The bank column is replaced by creditors control as no money was received.
CREDITORS LEDGER OF KYLIE’S SALOON
DATE
2017
MAR
DETAILS
MAKRO
FOL
DEBIT
CREDIT
6500
BALANCE
6500
10
MAKRO
CJ1
15
MAKRO
CAJ1
1000
5500
20
MAKRO
CPJ1
1500
5000
th
3. On the 20 March you paid Makro R1500 back therefore, your business still owes
R4000 to Makro at the end of March 2017.
15
TRIAL BALANCE
1.
2.
3.
4.
Summary of the accounts balances in the General Ledger.
Accuracy of the double entry system is tested by doing a Trial Balance
The total of the debits should equal the credits
Only done at the end of the month.
TRIAL BALANCE OF KYLIE SALON ON 31 MARCH 2017
BALANCE SHEET ACCOUNT
SECTION
OWNERS EQUITY
CAPITAL
DRAWINGS
FIXED ASSETS
LAND AND BUILDING
VEHICLES
FURNITURE
EQUIPMENT
CURRENT ASSETS
TRADING STOCK
DEBTORS
BANK
FOL
B1
B2
B3
B4
B5
B6
B7
B8
B9
DEBIT
CREDIT
FIXED LIABILITY
LONG TERM LOAN
CURRENT LIABILITY
CREDITORS
B10
B11
NOMINAL ACCOUNT SECTION
SALES
COST OF SALES
DISCOUNT RECEIVED
COMMISSION INCOME
RENT INCOME
EXPENSES ALPHEBETICAL ORDER
N1
N2
N3
N4
N5
N6-
PROFITS = INCOME – EXPENSES
SALES- COST OF SALES= GROSS PROFIT
GROSS PROFIT + OTHER INCOME – ALL OTHER EXPENSES= NET
PROFIT
16
ACTIVITIES
ACTIVITY 1:
Transaction
Source document
Subsidiary Journal
[book of 1st entry]
Cash received by us [other than for Sales]
Cash Sales
Credit sales
Credit Purchase
EFT issued by you
Goods returned by us
Goods returned to us
ACTIVITY 2:
CASH SALES
RECORDED IN CRJ
TRADING BUSINESS
COST PRICE + MARK UP = SELLINGPRICE
COST OF SALES (R) = SALES [R] X 100 / (100 + MU)
SALES [R] = COST OF SALES [R] X [100 + MU] / 100
Fill in the missing blocks
AMY STORES
MU ON CP IS 100%
WADE STORES
MU ON CP IS 50 %
SALES
COST OF SALES
2000
SALES
1 000
COST OF SALES
6 000
500
2 400
300
300
ALVIN STORES
MU ON CP IS 33 1/3%
DAISY STORES
MU ON CP IS 25 %
SALES
COST OF SALES
SALES
COST OF SALES
2 400
6 000
4 000
500
300
MU ON CP IS
33 1/3 %
100/133 1/3
OR 3/4
300
MU ON CP IS 100 %
MU ON CP % IS 25 %
MU ON CP IS 50 %
100/200 OR ½
100/125 OR 4/5
100/150 OR 2/3
17
ACTIVITY 3:
Working out Mark UP
FORMULA:[SP-CP=MU] MU/CPX 100
1. John Deer brought trading stock for the business each
item was bought at R450 and sold at R720. Work out John
Deer’s mark up.
2. Jimmy Choo bought the latest shoes for R230 and
decided to sell the shoes for R900. Work out Jimmy Choo
Mark-up.
3. Mr Fourie sells Bar-one chocolates at the girls waterpolo
tournament for R11 he bought it from Makro for R8. Work
out Mr Fourie’s Mark-up per chocolate.
4. Bought goods for R400 & sold these same goods for R600.
ANSWER SPACE:
1.___________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
2.___________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
3.___________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
4.___________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
18
ACTIVITY 4: Transactions of Saulse Dry Cleaners, owner Peter Saulse
INSTRUCTIONS:
(a) Show the effect of each of the transactions on assets and/or owner’s equity. Use
a + to show an increase and a – to show a decrease. Give the amount
concerned and a reason in each case
(b) Prepare a cumulative summary of the assets and owner’s equity after each
transaction.
(c) Calculate the total income.
(d) Calculate the total expenses.
(e) Calculate the profit.
1 P.Saulse started a business, Saulse Dry Cleaners, by depositing R150 000 in the current
bank account of the business; issued receipt 01
2 Paid the local newspaper, Indaba, for advertising; PAID VIA EFT, R400
3 Rented floor space from Fisher Properties; paid by internet banking R1000
4 Bought delivery vehicle from Reeston Motors; paid by EFT, R120 000
5 Bought stationary from CA stores; paid by EFT 004, R370
6 Paid via internet banking R3 500 to MM Distributors for cleaning materials bought
7 Cash received for services rendered, cash register roll, R6 450
8 Paid telephone account to Telkom by EFT, R360
9 Paid by internet banking to Mapede Traders for equipment bought, R15 000
10 Paid Council R 600 by EFT for water and electricity
11 Drew cash from the ATM to pay employees R1 800; for wages
12 Bought motorcycle for local delivery from Restion Motors; paid by EFT, R15 000
A
Assets
=
Owners +
Equity
Liability
Debit
Credit
1
2
3
4
5
6
7
8
9
10
11
12
19
b.___Summary:______________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
c.___________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
d.___________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
e.___________________________________________________________________________________
_____________________________________________________________________________________
ACTIVITY 5: AOL
Read the transactions and then Record the entries in the table below. Record the amounts
and whether it is + or Ex: Issued a cheque to pay wages, R3 000.
1.
The owner paid his son’s university fees by EFT, R5 000.
2.
Paid via internet banking to pay the business telephone a/c, R1 000.
3.
Sold goods for cash to Amy, R400. (Mark up on Cost price is 33 1/3%)
4.
Bought a truck from Ford and paid by EFT for R40 000.
5.
Received R20 000 from Nedbank as a loan directly into the bank a/c.
6.
Received R200 from a tenant to settle his rent of the business store room.
7.
Bought merchandise from Amy Stores for R7 000, paid by EFT.
8.
Sold goods on credit to Gavin for R2 400. ( Mark up on Cost price is 50%)
9.
Bought inventory on credit from Jenny Suppliers for R3000.
NO
Source
Document
JNL
Ex
CC
CPJ
A/C DEBIT in
GL
WAGES
E + O-
A/C CREDIT in
GL
A=
BANK
-
A-
3 000
O+
-3 000
L
0
1
2
3
3
4
5
20
ACTIVITY 6: AOL
Study the given transactions and complete the accounting equation.
Note: The bank has a favourable balance.
Example: Received R2 500 for the rental of a storage room. Issued receipt 005.
1.
2.
3.
4.
Bought equipment on credit from TJ Wholesalers, R27 000.
Paid via EFT to repay a R3 000 loan from ABSA Bank.
Drew cash from the ATM to pay employees wages, R 5 500.
The owner took R300 from the business account to pay for his child Joe’s birthday
cake.
5. Received R3250 for sales. Mark up is 35%.
6. Received R7500 for rent.
NO
Source
Document
JNL
A/C DEBIT in GL
Ex
CC
CPJ
WAGES
E + O-
A/C CREDIT in
GL
BANK
A-
A=
-
3 000
O+
L
-3 000
0
1
2
3
4
5
6
21
ACTIVITY 7: AOL
SpongeBob owns a bakery called Krusty Cakes. Enter the transactions into the table
below.
1. He pays R120 000 into the business as capital contribution.
2. Purchased stock worth R350.
3. He took out a loan worth R35 000.
4. Bought a fancy new mixer to the value of R12 000.
5. Paid Mr Krabs his salary of R4 500.
6. Sold stock worth R1 000 (cost price R800)
7. Bought stationery to the value of R140.
8. Received R1 400 for rent of property.
9. Received R300 for services rendered.
10. Sold cakes worth R8 000 (cost price R3 800)
ACCOUNT
DEBIT
ACCOUNT
CREDIT
A
OE
L
1
2
3
4
5
6
7
8
9
10
22
Activity 8: AOL
Enter the transactions into the table below.
a) K. Ruby deposited R15 000 directly into the business as
capital contribution.
b) The business made R700 from services rendered. Customer
paid cash.
c) Paid off a loan to the amount of R400.
d) Paid wages to the workers to the value of R15 000. Paid via
EFT.
e) Took Trading stock to the value of R6 500 for personal use.
f) Received a new loan to the value of R10 000.
Steps:
1. Identify the two
accounts
2. Identify the asset
3. Is the asset going up
(debit) or down (credit)
4. Fill the asset into the
correct account column
(Debit OR Credit)
5. Fill in the other account
column
6. Fill in the asset column
(asset going up +,
asset going down -)
7. The other account,
which column does it
belong in? A? L? OE?
g) Paid R200 to the municipality for electricity via internet
banking.
h) Paid R8 800 for merchandise (cost of sales R6000).
i) Received R600 for offering a service. Customer paid with debit card
j) Received R1 000 cash for merchandise sold at his shop.
k) Bought equipment worth R3 000 and paid via EFT.
Journal
Source
Account Account Asset OE Liabilities
Document
DEBIT
CREDIT
a
b
c
d
e
f
g
h
i
j
k
23
ACTIVITY 9: AOL
a) J Harris, owner of Heartfelt Clothing, deposited R20 000
Steps:
8. Identify the two accounts
directly into the bank account as her capital contribution.
9. Identify the asset
b) Cash sales on trading stock worth R800 (cost of sales R320)
10. Is the asset going up (debit)
or down (credit)
c) Paid R9000 for rent via EFT.
11. Fill the asset into the correct
d) Paid wages to staff via EFT worth R9 500.
account column (Debit OR
Credit)
e) Sales of clothing worth R900. Customer paid my debit
12. Fill in the other account
card.
column
f) Paid R2150 to the municipality for electricity via internet
13. Fill in the asset column
(asset going up +, asset
banking
going down -)
g) Bought equipment for R8600 via EFT.
14. The other account, which
column does it belong in?
h) Sold trading stock to the value of R750 (cost of sales R300)
A? L? OE?
i) Received R1600 for rent of a store room. Received
payment via EFT.
j) J Harris took trading stock worth R240 for personal use.
k) Bought stationery worth R475 and paid via internet banking.
l) Services rendered to the value of R900. Customer paid by credit card.
Journal
Source
Document
Account
DEBIT
Account
CREDIT
Assets
Owner’s
Equity
Liabilities
a)
b)
c)
d)
e)
f)
g)
h)
i)
j)
k)
l)
24
ACTIVITY 10: CRJ & CPJ
Enter the following transactions into the Cash Receipts Journal and the Cash Payment Journal
for Steers in Humewood for month end August 2.21. Mark-up is 40%
All columns should be added up and the totals should be written down in each column at the
end of the month. Make sure that all columns balance at the end of the month.
CRJ: Analysis of receipts, Bank, Current Income, Sundry Account
CPJ: Bank, Equipment, Trading Stock, Wages, Sundry Account
Transactions for August 2.19
1
L Kondile, the owner, deposited R100 000 into the bank account of the business as his
capital contribution. The business issued him with receipt 78.
L Kondile paid the owner of the building, S Reid, R4 000 for rental of the building and
paid via EFT.
Purchased consumables from Makro via EFT, R12 000.
According to the Cash Register Roll, the business received R59 000 for sales.
Mr J Cooper paid the business R31 500 for services rendered. Paid via EFT.
10
Paid Core Suppliers for equipment purchased. Paid R2 300 via EFT.
Paid Finn Cash & Carry for consumable purchased for the shop for R5 000 via credit
card.
Paid Waltons for stationery purchased and paid R500. Paid via internet banking.
16
Paid wages of R6 000 in cash.
19
Cash Sales R28 000.
L Kondile invested another R65 000 as part of his capital contribution and the business
issued him with a receipt.
24
Cash sales of R42 000.
Purchased consumables from G Rogers for R60 000 and paid via debit card.
29
Paid cash for wages of R6 000.
Paid the manager, P Dube, his salary of R9 000 via EFT.
25
Cash Receipts Journal of _______________________________________________________
SUNDRY
ACCOUNTS
ANALYSIS
DOC. DAY
DETAILS
OF
FOL. RECEIPTS
BANK
COST OF
SALES SALES
AMOUNT FOL. DETAILS
Cash Payments Journal of _____________________________________________________
SUNDRY
ACCOUNTS
NAME OF
DOC. DAY
PAYEE
FOL.
BANK
AMOUNT FOL.
DETAILS
26
ACTIVITY 11: GL & TRIAL BALANCE
Take the CRJ and CPJ totals from the CRJ and CPJ for Steers Humewood and post them to
the General Ledger
GENERAL LEDGER OF STEER HUMEWOOD FOR AUGUST 2021
BALANCE SHEET ACCOUNT SECTION
DATE
DAY DETAILS FOL AMOUNT DATE DAY DETAILS FOL AMOUNT
27
GENERAL LEDGER OF STEER HUMEWOOD FOR AUGUST 2021
NOMINAL SHEET ACCOUNT SECTION
DATE
DAY DETAILS FOL AMOUNT DATE DAY DETAILS FOL AMOUNT
28
ACTIVITY 12: CRJ & CPJ
Enter the following transactions into the Cash Receipts Journal and the Cash Payment Journal
for Mr Price Sport for month end December 2.21. Mark-up is 70%
All columns should be added up and the totals should be written down in each column at the
end of the month. Make sure that all columns balance at the end of the month.
CRJ: Analysis of receipts, Bank, Current Income, Sundry Account
CPJ: Bank, Equipment, Stationery, Salary, Sundry Account
Transactions for December 2.19
1
R Andrews, the owner, deposited R500 000 into the bank account of the business as his
capital contribution. Issued receipt 01.
The owner, R Andrews, paid the owner of the building, M Grey, R7 000 for rental of part
of the building and paid via EFT.
Purchased stationery from CNA. Paid R85 000 via EFT.
6
According to the Cash Register Roll, the business received R60 000 for sales.
L Meyer paid cash to the business R1 200 for sales.
10
Paid Shop4U for equipment purchased totalling R8 500 via EFT.
Paid S Daniels her salary of R20 000. Paid via EFT.
Paid R Stevens for materials purchased and paid R100 000 via EFT.
16
Paid wages of R70 000 via EFT
19
Cash Sales of R56 000.
R Andrews invested another R250 000 as part of his capital contribution and the
business issued him with a receipt.
24
Fees received for sales, according to the Cash Register Roll, totalled R22 000.
Paid the manager, A Jackson, his salary of R30 000 and paid via EFT.
29
Cash Receipts Journal of _______________________________________________________
SUNDRY
ACCOUNTS
ANALYSIS
DOC. DAY
DETAILS
OF
FOL. RECEIPTS
BANK
COST OF
SALES SALES
AMOUNT FOL. DETAILS
Cash Payments Journal of _____________________________________________________
SUNDRY
ACCOUNTS
NAME OF
DOC. DAY
PAYEE
FOL.
BANK
AMOUNT FOL.
DETAILS
30
ACTIVITY 12: GENERAL LEDGER AND TRIAL BALANCE
Take the CRJ and CPJ totals from the CRJ and CPJ for Mr Price Sport and post them to the
General Ledger
General Ledger of _______________________
Dr
Date
Day
Details
Fol
Amount
Date
Day
Details
Fol
Cr
Amount
Fol
Cr
Amount
BALANCE SHEET ACCOUNTS SECTION
31
Date
Day
Details
Fol
Amount
Date
Day
Details
NOMINAL SHEET ACCOUNTS SECTION
32
Activity 13: CRJ & CPJ
Brian Bands is a sport shop in Gqeberha that sells a variety of sporting equipment. All
merchandise is sold at a mark-up of 80%
REQUIRED
1. Enter the transactions in the cash Receipts and Cash Payments Journal for May 2.21
CRJ: Analysis of Receipts, Bank, Sales, Costs of Sales and Sundry Accounts.
CPJ: Bank, Trading Stock, Wages, Stationery and Sundry Accounts.
TRANSACTIONS
1
Owner, Peter Brian, paid R50 000 as his capital contribution and paid directly into the
business bank account.
3
Paid R5 500 for wages and paid via EFT.
Bought trading stock from sports world to the value of R7 800 and paid via EFT.
5
Cash sales of merchandise for R3 600
Received payment from A Saunders for rent of a building, R3 900 and paid via EFT.
9
Paid R5 500 for wages and paid cash.
10
Bought stationery to the value of R400 to PNA and paid by debit card.
11
Paid for rent of a storage facility, R800 and paid cash.
13
Cash sales of merchandise for R600
Standard Bank issued bank statement for interested earned of R140.
15
Paid stationery to PNA, R500, using a credit card.
16
Paid Engen R660 for petrol. Paid cash.
17
Took R850 for the bosses daughters birthday present.
20
Cash sales of merchandise worth R5 850.
Received R500 for services rendered. Customer paid cash.
21
Paid NMB Municipality R1 800 for rates and taxes and paid via EFT.
Paid Eskom R1 200 for electricity and paid via EFT.
24
Received merchandise from Simon’s Sports values at R45 000 and paid via EFT.
25
Cash sales of R2 350.
29
Cash sales of R6 000.
30
Owner, Peter Brian, increased his contribution to the business by R6 000 in the form
of capital via EFT .
33
CASH RECEIPTS JOURNAL OF
FOR
DOC DAY DETAILS FOL ANALYSIS BANK SALES COST
SUNDRY ACCOUNT
OF
OF
RECEIPTS
SALES AMOUNT FOL DETAILS
CASH PAYMENTS JOURNAL FOR
DOC DAY
NAME OF
FOL
PAYEE
BANK
FOR
SUNDRY ACCOUNT
AMOUNT
FOL
DETAILS
34
ACTIVITY 14: GENERAL LEDGER AND TRIAL BALANCE
Take the CRJ and CPJ totals from the CRJ and CPJ for Brian Bands and post them to the
General Ledger
General Ledger of _______________________
Dr
Date
Day
Details
Fol
Amount
Date
Day
Details
Fol
Cr
Amount
BALANCE SHEET ACCOUNTS SECTION
35
Dr
Cr
Date
Day
Details
Fol
Amount
Date
Day
Details
Fol
Amount
NOMINAL SHEET ACCOUNTS SECTION
36
Trial Balance for
DETAILS
FOL
DEBIT
CREDIT
37
ACTIVITY 15: GL
Using the information below to complete the following general ledger accounts for July 2.18 for
Checkers Newton Park:
Note: All accounts must be closed off properly at the end of the month.
Cash Receipts Journal (CRJ6):
Cash Payments Journal (CPJ6):
Bank
Sales
Cost of Sales
Equipment
Date
Day
Details
R100 000
R24 000
R16 000
R12 000
Bank
Equipment
Trading Stock
Wages
Fol
Amount
Date
R45 700
R 3 000
R40 500
R2 200
Day
Details
Fol
Amount
BALANCE SHEET ACCOUNTS SECTION
EQUIPMENT
B5
TRADING STOCK
B6
BANK
B8
NOMINAL SHEET ACCOUNTS SECTION
Sales
N1
38
Cost of Sales
Wages
N2
N3
39
ACTIVITY 16: GL
Using the information below to complete the following General ledger accounts for January 2.18
for The General Store:
Note: All accounts must be closed off properly at the end of the month.
The following balances (amongst others) appeared in the books of Newton Park Spar on 1 January
2018:
Trading Stock
R9 200
Bank (favourable)
R14 000
Favourable means positive
Extracted Totals of Journals on 31 January 2018:
Cash Receipts Journal (CRJ16):
Cash Payments Journal (CPJ16):
Bank
R31 500
Bank
R13 500
Current Income
R22 000
Trading Stock
R11 500
Rent Income
R 7 500
Water & Electricity
R2 000
Date
Day
Details
Fol
Amount
Date
Day
Details
BANK
TRADING STOCK
Fol
Amount
B1
B2
NOMINAL SHEET ACCOUNTS SECTION
CURRENT INCOME
RENT INCOME
WATER & ELECTRICITY
N1
N2
N3
40
ACTIVITY 17:
The Heart is a cafeteria/tuckshop run within Alex High School. They sell a variety of food, treats
and beverages to the students. The mark-up is 40%.
REQUIRED:
Enter the transactions in the Cash Receipts and Cash Payments Journal for June 2.21
CRJ: Analysis of Receipts, Bank, Sales, Cost of Sales and Sundry Accounts
CPJ: Bank, Trading Stock, Wages, Consumables.
TRANSACTIONS
1
The owner, A Smith, paid R6 000 directly into the business bank account as his capital
contribution.
2
Cash sales of R1 250.
Received R1 500 for rent of The Atrium by K Glover who paid via EFT.
4
Paid wages of R2 400 and paid EFT.
Received trading stock worth R5 400 from Coca-Cola and paid via EFT.
6
Cash sales of R2 300.
9
Paid Makro for trading stock of R4 000 and R400 for consumables and paid via EFT.
Received R800 for sales of merchandise.
12
Cash sales of R550.
13
Paid wages of 2400 via EFT.
18
Cash received for services provided, R50.
19
Paid the Municipality R800 for water and electricity.
21
Cash sales of R6 900.
24
Paid wages for R2 400 and paid cash.
26
Bought trading stock from WestPack for R680 and paid using a credit card.
29
Cash sales of R900.
Services rendered for R150 and customer paid cash.
30
Took R900 for personal use. Paid via EFT.
41
CASH RECEIPTS JOURNAL OF
FOR
DOC DAY DETAILS FOL ANALYSIS BANK SALES COST
SUNDRY ACCOUNT
OF
OF
RECEIPTS
SALES AMOUNT FOL DETAILS
CASH PAYMENTS JOURNAL FOR
DOC DAY
NAME OF
FOL
PAYEE
BANK
FOR
SUNDRY ACCOUNT
AMOUNT
FOL
DETAILS
42
Activity 18: GL
Take the CRJ and CPJ totals from the CRJ and CPJ – Activity 1 (page 19) for The Heart and post
them to the General Ledger.
GENERAL LEDGER OF __________________________________________________________
Date
Day
Details
Fol
Amount
Date
Day
Details
Fol
Amount
43
44
DATE
DAY
DETAILS
FOL
AMOUNT
DATE
DAY
DETAILS
FOL
Activity 19: CASH RECEIPT JOURNAL, CASH PAYMENTS JOURNAL AND DEBTORS JOURNAL
AMOUNT
Kevin and Gavin opened a Tennis gear shop, called Match Point.
1. Enter the following transactions into the correct journals.
HINT: You must remember to enter all the cash received into the Cash Receipts Journal and all
credit sales into the Debtors Journal.
2.
NOTE: You will need:
• Cash Receipts journal with columns for: Document, Day, Details, Analysis of Receipts, Bank,
Sales Cost of Sales, Debtors Control and Sundry Account
• Cash Payments Journal with columns for: Document, Day, Name of Payee Bank, Trading
Stock, Wages and Sundry Account
• Debtors Journal with the columns: Document number, Day, Details, Sales, Cost of Sales.
• General Ledger
• Trial Balance
TRANSACTIONS FOR DECEMBER 2019
DAY
1
3
Stock was delivered by T. Ree paid R2 800 via eft.
Goods with a selling price of R82 were sold to X Mas on account. Invoice no 42 issued.
Cost Price was R49.
Bought R1500 worth of Equipment FROM MAKROO and paid by EFT.
7
Paid employees their wages with cash, R5500, withdrawn from the bank.
9
Merchandise was sold on account to A N Gel. The selling price was R250 and the cost
price was R180 as per invoice 43.
14
Paid employees their wages with cash, R5500.
15
Cash sales were R600 according to the cash register roll. The cost price was R300.
17
C Arol bought goods worth R270 on account. These goods had been marked up by
50% on the cost price invoice 44 issued to C Arol.
21
Merchandise was sold on account to A N Gel. The Selling Price was R350 and the cost
price was R280 as per invoice 45.
Paid employees their wages with cash, R5500.
23
Sold goods to C Arol with a selling price of R900 as per cash register roll. These goods
were marked up by 100%.
25.
Paid Telkom the telephone account R 1000 and the owners private cellphone account R
850, via EFT.
29
X Mas arrived at the store to pay for goods purchased on credit earlier in the month. X
Mas was given receipt no 29.
31
Sold goods for cash. R650. These goods were marked up by 25% on cost.
A N Gel settled her account as per, rec 30 given.
31
Collected R80 commission from Jingle Bells.
45
CASH RECEIPTS JOURNAL OF
FOR
DOC DAY DETAILS FOL ANALYSIS BANK SALES COST
SUNDRY ACCOUNT
OF
OF
RECEIPTS
SALES AMOUNT FOL DETAILS
CASH PAYMENTS JOURNAL FOR
DOC D
NAME OF
F
BANK
A
PAYEE
O
Y
L
FOR
CREDITOR
SUNDRY ACCOUNT
S
CONTROL
AMOUNT F DETAILS
O
L
46
DEBTORS JOURNAL OF ________________________________________________
DOC.
DAY
DETAILS
FOL.
SALES
COST OF SALES
47
GENERAL LEDGER OF ____________________________________________
DATE
DAY
DETAILS
FOL AMOUNT DATE
DAY
DETAILS
FOL AMOUNT
48
Trial Balance for
DETAILS
FOL
DEBIT
CREDIT
49
Activity 20: CASH RECEIPT JOURNAL, CASH PAYMENTS JOURNAL AND DEBTORS JOURNAL
3.
Enter the following transactions into the correct journals of Season Retailers for the month of October 2018.
HINT: You must remember to enter all the cash received into the Cash Receipts Journal and all credit sales
into the Debtors Journal.
4.
Merchandise is sold at cost price plus 25%. All documents are issued in sequence.
5.
At the end of September 2018 the business had the following amounts owing to them by debtors.
Frosty Winter
R600
Sunny Summer
R400
Chilly Autumn
R300
Pretty Spring
R100
6.
NOTE: You will need:
•
Cash Receipts journal with columns for: Document, Day, Details, Analysis of Receipts, Bank, Sales
Cost of Sales, Debtors Control and Sundry Account
•
Cash Payments Journal with columns for: Document, Day, Name of Payee Bank, Trading Stock,
wages and Sundry Account
•
•
•
Debtors Journal with the columns: Document number, Day, Details, Sales,
Cost of Sales.
General Ledger
Trial balance
TRANSACTIONS FOR OCTOBER 2018
DAY
3
Bought more stock from luckylips for R4300 and paid via internet banking.
7
Received Payment via Debit Card from S Summer for R400 to settle his account.
Cash Sales of Merchandise, R5000.
10
Issued receipt no 13 to P Spring for the amount outstanding on 30 September. Sold goods
to F Winter on credit for R 340 [IV 10].
12
Received Payment via internet banking from F Winter, R 600 to settle his account as at 1
October.
Sold Merchandise on credit to S Summer, R360.
14
Cash Sales of goods as per CRR R 850.
Paid employees their wages with cash, R8500.
16
Sold goods to C Autumn on credit for R290.
18
Paid via EFT to luckylips for merchandise R6500.
20
O Neer, the owner, increased his capital contribution by R 10 000, which he deposited
directly into the bank account of Season Retailers.
25
Paid Nelson Mandela Bay Municipality for Rates & Taxes R 1500 and Water and Electricity
R1200 and paid via EFT.
26
Cash Sales of goods as per CRR, R 1050.
30
C Autumn settled all amounts owed, receipt was issued.
Paid employees their wages with cash, R8500.
50
CASH RECEIPTS JOURNAL OF_________________________________________________
SUNDRY
CASH
D PAYMENTS JOURNAL OF__________________________________________________
ACCOUNTS
A
DOC Y
DETAILS
NAME OF
PAYEE
DOC. DAY
SUNDRY
ANALYSI
F
COST
OF
DEBTORS
ACCOUNTS
FO
S OF
O
L
RECEIPT BANK SALES SALES CONTROL AMOUNT L. DETAILS
FOL.
BANK
AMOUNT FOL. DETAILS
51
DEBTORS JOURNAL OF________________________________________________
DOC.
DAY
DETAILS
FOL.
SALES
COST OF SALES
52
General Ledger of _______________________
Dr
Date
Day
Details
Fol
Amount
Date
Day
Details
BALANCE SHEET ACCOUNTS SECTION
Fol
Cr
Amount
53
Dr
Date
Day
Details
Fol
Amount
Date
Day
Details
NOMINAL SHEET ACCOUNTS SECTION
Fol
Cr
Amount
54
Trial Balance for
DETAILS
FOL
DEBIT
CREDIT
55
Activity 21:
Amy sells cans of cool drink. She calls her business Amy’s SLURPEES.
She Buys cans at R3 and sells them at R5.
1. Record the following transactions in the journals of Amy’s Slurpees.
You will need to draw up a:
I. Cash Receipt Journal (include columns for Sales, Cost of sales and
debtors control)
II. Cash Payments Journal (include columns for Trading Stock and Creditors
control)
III. Debtors Journal
IV. Creditors Journal
(include column for trading Stock)
TRANSACTIONS FOR JULY 2017
1. Amy starts her business, Amy’s Slurpees, by depositing R350 into the firm’s bank
account. Issued receipt 1.
1. Amy buys 10 cans of cola on credit for R30. She receives invoice 01 from Zondi
Suppliers.
3. Amy buys 10 cans of cola for R30 cash. She pays Cash & Carry with cheque 001.
4. Amy uses a cheque to pay Advertco R50 to advertise her business.
5. Amy sells 8 cans of cola for R40 on account. She issues invoice 1 to Sally Zulu.
8. Amy sells 9 cans of cola for cash, R45 as per cash register roll 01.
10. Amy buys 12 cans of cola on credit, R36. She receives invoice 02 from Zondi
Suppliers.
10. Mark buy 6 cans of cola from Amy’s Slurpees on credit.
13 Amy sells 2 cans of cola on account. She issues invoice 3 to Precious King.
16 Amy gives a cheque to P Renter to pay the rent for her shop, R60.
12. Amy pays Zondi Suppliers the amount owing to them.
19. Mark paid for 2 of the cans he bought on the 10th
23. Amy sells 1 can of cola for R5 for cash. She rings this up on the cash register.
25. Mark settled his account
56
CASH RECEIPTS JOURNAL OF___________________________________________________
SUNDRY ACCOUNTS
DOC DAY
DETAILS
F ANALYS
O IS OF
L RECEIPT BANK
COST
OF DEBTORS
FO
SALE SALES CONTROL AMOUNT L.
DETAILS
57
CASH PAYMENTS JOURNAL OF ________________________________________________
DEBTORS JOURNAL OF__________________________________________________
SUNDRY
ACCOUNTS
NAME OF
DOC. DAY
PAYEE
DOC.
DAY
FOL.
BANK
DETAILS
FOL.
SALES
AMOUNT FOL.
DETAILS
COST OF SALES
58
CREDITORS JOURNAL OF_______________________________________________________
SUNDRY
ACCOUNTS
DOC. DAY
DETAILS
CREDITORS
FOL. CONTROL
AMOUNT FOL.
DETAILS
ACTIVITY 22:
Opening Balances for Keketsi Suppliers on 30 April 20.6
Capital R 360 000, Drawings R1 500, Buildings R154 000, Vehicles R80 600, Equipment R
19 900,
Trading Stock R47 618, Bank R51 813, Cash Float R 700, Sales R22 314, Cost of Sales
R14 792, Rent Expense R2 225, Stationery R200, Advertising R3 090, Insurance R1 150,
Water and Electricity R 526, Salaries R4 200.
Open the accounts in the General leger of Keketsi Suppliers with the balances given in
the Trial balance on 30 April 20.06.
[a] Cash Receipt Journal [CRJ5], with analysis columns for Analysis of receipts, Bank, Sales,
Cost of Sales and Sundry Account.
[b] Cash Payments Journal [ CPJ5], with analysis columns for Bank Trading Stock,
Stationery, Wages and Sundry Account.
[c] Close off the Journals on 31 May and post to the General Ledger. Show folio numbers.
Balance the ledger accounts where necessary. Prepare the Trial Balance on 31 May 20.06
Transactions: May 20.06
1 B. Keketsi inherited R260 000; deposited this money in current bank account of Keketsi
Suppliers as capital; receipt 020 issued.
2 Received title deeds for building bought; paid Rainbow Builders R205 000 by EFT.
Sold merchandise for cash to A. Beyers, R10 500 (profit mark-up on all goods is 50%on cost
price)
4 Paid wages by drawing cash from the ATM, R2 860.
Cash sales as per cash register roll, R4 800.
7 Bought delivery vehicle from GM Motors by internet banking, R80 000.
8 Bought stationery from Paper & Co. R153 paid by EFT.
9 Paid by EFT to Prima Services for repairs to equipment, R631.
10 Cash sales as per cash register roll, R16 500
11 Paid wages cash that was drawing out the ATM, R2 860
14 Bought new computer from Officequip, R9 600; paid by internet banking.
15 B. Keketsi drew out of the businesses bank account for personal use, R1 200.
16 Sold goods for cash to P.Ponie for R7 200.
18 Cash sales as per cash register roll, R8 400.
Bought merchandise from Leo Suppliers by EFT, R19 200.
59
19 Paid wages cash taking from bank account, R2 860
22 Paid rent by EFT to AA Estates, R 3150
25 Paid Wages with cash from the ATM, R2 860
26 Cash sales as per cash register roll, R6 000.
28 Paid A. Vermaak, Manager, salary of R 5 120 via EFT.
B. Keketsi drew CASH for personal use, R 2 650.
31 Paid EFT to Telkom SA Ltd for Telephone, R481.
Paid via internet banking as an investment of R15 000 on a fixed deposit with Protea Bank
for 12 months at 10% interest per annum; interest payable every 6 months
CASH RECEIPTS JOURNAL OF___________________________________________________
SUNDRY ACCOUNTS
DOC DAY
DETAILS
F ANALYS
O IS OF
L RECEIPT BANK
COST
OF DEBTORS
FO
SALE SALES CONTROL AMOUNT L.
DETAILS
60
61
CASH PAYMENTS JOURNAL OF ________________________________________________
SUNDRY
ACCOUNTS
DOC. DAY
NAME OF
PAYEE
FOL.
BANK
AMOUNT FOL.
DETAILS
General Ledger of _______________________
Dr
Date
Day
Details
Fol
Amount
Date
Day
Details
BALANCE SHEET ACCOUNTS SECTION
Fol
Cr
Amount
62
Date
Day
Details
Fol
Amount
Date
Day
Details
NOMINAL SHEET ACCOUNTS SECTION
Fol
Amount
63
Trial Balance for
DETAILS
FOL
DEBIT
CREDIT
64
ACTIVITY 23: ACCOUNTING REVISION
ACCOUTING REVISION –
CRJ, CPJ, DJ, CJ, GL, TB
Mark up of 80%
CASH RECEIPTS JOURNAL OF J Adams CLOTHING FOR FEBRUARY 2.20
CRJ 5
DOC
NO
DAY DETAILS
REC56
1
J Adams
REC57
3
Sales
FOL
ANALYSIS
OF
RECEIPTS
26580 *
4
R Rein
*
CRR526
12
Sales
*
14
IOU Bank
REC59
19
C. Cronje
CRR527
Sales
REC60
26
REC61
28
S.A Melane
B
Overmeyer
SALES
Debtors
Control
220000 *
B/S
B/S
BANK
COST OF
SALES
*
*
80000
*
*
*
Current
Income
*
Loan: IOU
bank
18700
7400 *
7400
12600
*
DETAILS
*
*
*
*
FOL
21580 *
2900 *
*
AMOUNT
*
30000
*
SUNDRY ACCOUNT
*
*
*
*
*
65
CASH PAYMENTS JOURNAL OF J Adams CLOTHING FOR FEBRUARY 2.20
CPJ 5
DOC
NO
CC65
DA
Y
DETAILS
Remax Estate
CC66
1
2
CC67
4
Sewing Dealers
CC68
6
Central News
CC69
CC70
9
Linen & Cotton
BANK
TRADING
STOCK
WAGES
CREDITOR
S
CONTROL
95 000
*
SUNDRY ACCOUNT
AMOUN
FO
T
L DETAILS
Land &
95 000
Buildings
9 000
14 950
*
*
Cash
Calista
Wholesalers
1250
5000
Advertising
5000
9 690
*
CC71
13
Cash
B/S
20
J Adams
CC72
21
Telkom
CC73
25
Geo's Fabrics
13 456
*
CC74
26
Pinns Retailers
7 033
*
*
*
Equipment
5000
12 500
12500
*
2 355
2355
*
*
*
*
*
66
DEBTORS JOURNAL OF J Adams Clothing for Feb 2.20
DOC NO
INV31
INV32
INV33
INV34
DAY
11
24
25
26
DETAILS
B Overmeyer
C Cronje
SA Melane
B Overmeyer
FOL
SALES
*
COST OF SALES
13135
17528 *
*
2400
15600 *
*
*
CREDITORS JOURNAL OF J Adams for Feb 2.20
DOC NO
INV15
INV16
INV17
INV18
INV19
DAY
2
10
19
22
24
DETAILS
Calista Wholesalers
Linen & Cotton
Geo's Fabrics
Calista Wholesalers
Pinn's Retailers
CREDITORS
CONTROL
STATIONERY
1523
*
43541
26800
16864
40000
*
TRADING
STOCK
SUNDRYACCOUNT
AMOUNT FOL DETAILS
108750
Equipment
*
*
864 *
974
*
*
*
*
Drawings
Vehicles
67
General ledger of J Adams Clothing for February 2.20
BALANCE SHEET ACCOUNT SECTION
Date
DR
Day
Details
Fol Amount
Date
Day
Details
Fol
Amount
CAPITAL
B1
CR
DRAWINGS
B2
LAND AND
BUILDINGS
B3
VEHICLES
B4
EQUIPMENT
B5
68
TRADING STOCK
B6
DEBTORS CONTROL
B7
BANK
B8
CREDITORS
CONTROL
B9
LOAN: IOU BANK
B10
69
NOMINAL ACCOUNT SECTION
SALES
N1
COST OF SALES
N2
CURRENT
INCOME
N3
ADVERTISING
N4
STATIONERY
N5
TELEPHONE
N6
WAGES
N7
70
TRIAL BALANCE OF J Adams
Clothing for 28 February 2.20
BALANCE SHEET ACCOUNT
SECTION
FOL
DEBIT R
CREDIT R
NOMINAL ACCOUNTS SECTION
71