Activity 4:Prepare a Debtors JournalRequired:1. Record the following transactions of Alma Suppliers in the Debtors Journal for May 2015.Close off the journal at the end of the month.2. Analyse transactions for days 6 and 10.Invoice NoC56C57C58C59DateName of clientB BlignautBB FashionsC. MokoenaBB FashionsSelling PriceR520Cost PriceMay 6R26010R1 300R1 040R1 560R650R520R7801623Answer sheet:Debtors Journal of S l forDay1.DJ1DocDetailsFolSalesCost of Sales2. Effect on the accounting equation:+ DrASSETS- Cr -Dr OWNERS EQUITY +Cr-Dr LIABILITIES +CrDayEffectReasonEffectReason

Debtors Journal is prepared for all the credit sales done during a particular period of time.…

Prepare a Debtors Journal Required: 1. Record the following transactions of Alma Suppliers in the Debtors Journal for May 2015. Close off the journal at the end of the month. 2. Analyse transactions for days 6 and 10. Date Invoice No Name of client Selling Price R520 R1 300 R1 040 May 6 10 Cost Price R260 C56 B Blignaut BB Fashions C. Mokoena BB Fashions C57 C58 R650 R520 R780 16 23 C59 R1 560 Answer sheet: Debtors Journal of S for Day 1. DJ1 Doc Details Fol Sales Cost of Sales 2. Effect on the accounting equation: + Dr ASSETS - Cr -Dr OWNERS EQUITY +Cr -Dr LIABILITIES +Cr ay Effect Reason Effect Reason

Prepare a Debtors Journal Required: 1. Record the following transactions of Alma Suppliers in the Debtors Journal for May 2015. Close off the journal at the end of the month. 2. Analyse transactions for days 6 and 10. Date Invoice No Name of client Selling Price R520 R1 300 R1 040 May 6 10 Cost Price R260 C56 B Blignaut BB Fashions C. Mokoena BB Fashions C57 C58 R650 R520 R780 16 23 C59 R1 560 Answer sheet: Debtors Journal of S for Day 1. DJ1 Doc Details Fol Sales Cost of Sales 2. Effect on the accounting equation: + Dr ASSETS - Cr -Dr OWNERS EQUITY +Cr -Dr LIABILITIES +Cr ay Effect Reason Effect Reason

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section: Chapter Questions

Problem 2AP

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QUESTION 1 The following debtor control account and debtors list were prepared by the owner of Siyadula Traders. The owner is unsure if he has correctly prepared it. REQUIRED: Jse the following information to prepare the correct account and list: Debtors control account for January 2021 Debtors list at 31 January 2021. General Ledger DEBTORS CONTROL ACCOUNT Jan 01 Balance b/d 54 300 Jan 31 Bank and discount CRJ5 36 200 Sales Returns SRJ 6 200 Sales SJ 62 110 Balance c/d 37 810 98 310 98 310 Feb 01 Balance b/d 37 810 Debtors List as at 31 January 2021 Debit Credit B. Afleck 12 525 M. Damon 19 085 J. Peter 18 100 A. Paul 9 200 D. Carter 17 900 76 810
Prepare the entries for transaction below and indicate what journal it is 30 Aug received the balance due from ultracity for the credit sales dated on August 19
Prepare the entries for transaction below and indicate what journal it is 21 august issued a $600 credit memo to ultracity co. For an allowance on good sold on august 19, 2020
A Attachment-1.pdf - Adobe Acrobat Pro DC (32-bit) English File Edit View Sign Window Help Home Tools Attachment-1.pdf Subscribe 3 / 5 з /5 75% Accounts. Post the entries to the two accounts (use T-accounts), and determine the balances, Search tools (c) Prepare the journal entry to record bad debt expense for 2014, assuming that an aging of accounts receivable indicates that estimated bad debts are Tk.22,000. (d) Compute the accounts receivable turnover ratio for the year 2014, assuming the expected bad debt information presented in (c). Create PDF Question-2: Presented below is an aging schedule for Garry Owen Company Edit PDF 1 Number of Days Past Due 2 Not 3 Customer Total Yet Due 1-30 31-60 61-90 Over 90 $ 26,000 Export PDF 4 Alma $11,500 $14,500 5 Browne 45,000 $ 45,000 6 Conlon 75,000 22,500 7,500 $45,000 Comment 7 Dalton 57,000 $57,000 8 Others 189,000 138,000 22,500 19,500 9,000 F0 Organize Pages $392,000 $205,500 $41,500 $34,000 $45,000 $66,000 Estimated 10 percentage…
The following information has been presented to you for 2018 by Wonder Projects Limited: September October November Rand Rand Rand Cash revenue 200 000 220 000 240 000 Credit revenue 120 000 180 000 190 000 Purchases (all credit) 130 000 140 000 120 000 Additional information: Collection of credit revenue: 50% in the month of invoice 30% one month after invoice 15% two months after invoice and the balance written off as irrecoverable. Purchases are on credit and are paid for one month after the purchase, less 5% Rent income amounts to R10 000 per The rent will increase by 8% on 1 October 2018. A fixed deposit of R150 000 will mature on 31 October 2018. Interest of R15 000 will also be received on this A new computer will be purchased on 3 September 2018 for R25 000 Salaries amount to R20 000 per A 10% increase will take effect on 1 October 2018. The owner is expected to take R5 000 cash from the business on 20 October…
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wo transactions were posted to the following customer account. NAME: Boogie Board Water WearADDRESS: 2340 Xtreme Surf Date Item Post. Ref. Debit Credit Balance July 1 Balance 805 6 Invoice No. 406 R42 645 1,450 24 Invoice No. 456 CR56 710 740 Describe each transaction and the source of each posting. July 6 Sold $_______on account to Boogie Board Water Wear. July 24 Cash of $_________ was collected from Boogie Board Water Wear.
Prepare the correct Creditors Control account for May 2020 after taking into account the additional information, errors and omissions. Balance the account Balance b/d June R112 000 Additional information, errors and omissions1. The debit balance in the account of a creditor, R300, must be transferred to the Debtors ledger.2. An invoice for goods purchased from Super Suppliers was entered in the Purchases journal as R6 400 instead of R4 600.3. A credit purchase of equipment from Minto Enterprises was not recorded, R5 000.4. A credit note received from HD Wholesalers for trading goods returned was not recorded in the Purchases Returns Journal, R1 000.5. Stardom Traders, a creditor, charged Oyster Traders interest on overdue account, R50
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You are provided with the following extracts (totals) of the subsidiary journals for Fit Traders for March 2020. Cashbook payments Bank Creditors control VAT Input |Sundry accounts R126 500 R75 000 R16 500 R35 000 Creditors journal Creditors control R74 750 VAT Input Trading inventory Sundry accounts R60 000 R9 750 R5 000 Creditors allowances journal Creditors control R25 300 Trading inventory R20 000 VAT Output Sundry accounts R2 000 R3 300 The general journal reflects a transaction of R575 including 15% VAT that relates to a settlement discount that was received from a creditor. Required: Q.5.1 Prepare the creditors control account in the generalledge of Fit traders for March 2020. Assume an opening balance of R30 000. Properly balance the account at the end of the month.
be Preview File Edit View V Go mgt120h-a17.pdf Page 3 of 10 DOLAY Tools Window Help risinin D .. .. .. ... ... O V C. For an amount that the company estimates it will not collect. d. Several times during the accounting period. ܐ. . .. . . Search (Cª 5. Under the allowance method for uncollectible accounts, Bad Debts Expense is recorded a. When an individual account is written off. b. When the loss amount is known. Sat Apr 15 3:04 PM 6. A company sells an asset that originally cost $150,000 for $50,000 on December 31, 2016. The accumulated depreciation account had a balance of $60.000 after the current year'e Cost-Volume-Profit Analysis The Effect Of Prepaid Taxes On Assets Debenture Valuation And Liabili... 90 77