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    ACN100 Claasen

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    Jayson Claasen

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    © All Rights Reserved
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    ACN100 Claasen

    Uploaded by

    Jayson Claasen
    20 views5 pages

    Original Title

    22408785 ACN100 Claasen

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    Copyright:

    © All Rights Reserved
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    20 views5 pages

    ACN100 Claasen

    Uploaded by

    Jayson Claasen

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 5

    ACCOUNTING FOR MANAGERS I – ACN100

    ASSIGNMENT ANSWER BOOK FOR FIRST SEMESTER 2022

    Question 1 [36]

    General Ledger Owner’s


    No. Assets Liabilities
    Account Dr Account Cr equity
    E.g. Wages Bank –1 000 –1 000 0

    1. Bank Capital +120 000 +120 000

    2. Trade Receivables Sales +18 000 +18 000

    Cost of Sales Trading Inventory -15 000 -15 000

    3. ABSA Bank (loan) Bank -15 000 -15 000

    +90 000
    4. Vehicles Bank
    -90 000

    5. Rent Expense Bank -9500 -9500

    6. Bank Sales +15 000 +15 000

    Cost of Sales Trading inventory -12 000 -12 000

    7. Drawings Inventory -720 -720

    8. Trade receivables Sales/Services +2500 +2500

    9. Equipment Loan (DHL) +8200 +8200

    10. Advertising Bank -2600 -2600


    Question 2 [18]
    2.1 (8)

    Transactions for the two-month Excluding VAT Including


    No.
    period VAT amount VAT

    Example Services rendered 1 000 150 1 150

    1. Telephone account R780 R117 R897

    2. Interest paid R500 0 R500

    3. Canned pilchards R200 0 R200

    4. Equipment for the office R6520 R978 R7498

    2.2 (10)

    Items Amount Output VAT Input VAT

    Sales invoices R132 854 17328,79 15068.51

    Cash sales R83 620 10906.96 9484.31

    Received insurance payout R18 560 0 0

    Bought new computers R130 000 16956.52 14744.80

    Inventory purchased R90 000 11739.13 10207.94

    Credit notes issued R16 320 2128.70 1851.04

    TOTALS 59060.10 51356.60

    Payable to/Receivable from SARS R7703.50 Payable to SARS

    2
    Question 3 [21]
    3.1 (7)
    Creditors Journal of Supa Smoothies – April 2021 CJ1
    Sundry accounts
    Doc Trade Trading
    Day Details Fol. Amount Fol. Details
    no. payables inventory

    3.2 (5)
    Creditors Allowances Journal of Supa Smoothies – April 2021 CAJ1
    Sundry accounts
    Doc. Trade Trading
    Day Details Fol. Amount Fol. Details
    no. payables inventory

    3.3 (9)
    Creditors Ledger – Fruity Tooty (C8)
    Date Document no. Fol. Debit Credit Balance

    3
    Question 4 [25]
    4.1 (16)
    Cash Receipts Journal of FunFair Traders – February 2021
    Details Bank Sundry accounts
    Total receipts R37 520

    Cash Payments Journal of FunFair Traders – February 2021


    Details Bank Sundry accounts
    Total payments R49 780

    4.2 (9)

    Bank Reconciliation Statement on 28 February 2021


    Details Debit Credit
    Balance as per bank statement

    Balance as per bank account

    TOTALS

    4
    Question 5 [20]
    5.1 Cash Book Receipts of Catan Wholesalers – September 2021 (11)
    Analysis Cost of
    Doc Output Sundry accounts
    Day Details Fol. of Bank Sales sales
    no. VAT
    receipts Amount Fol. Details

    5.2 Cash Book Payments of Catan Wholesalers – September 2021 (9)


    Doc Trading Sundry accounts
    Day Name of payee Fol. Bank Input VAT Wages
    no. inventory Amount Fol. Details

    TOTAL: 120

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