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 2. Source
Statements Document

3. Subsidiary
Trial Balance
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)

CRJ (Received Money) CPJ (Paid Money)

Cash Sales / Cash Cash Register Roll Cash Register Roll
Register (CRR) (CRR)
Cash Register Roll Cash Register Roll
Debit/Credit Card
(CRR) (CRR)
EFT / Internet
banking / Directly Bank Statement (B/S) Bank Statement (B/S)
into bank account
Interest Bank Statement (B/S) Bank Statement (B/S)
Loan Bank Statement (B/S) Bank Statement (B/S)
Deposited money at
Receipt (REC) Deposit Slip
the bank

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. Which TWO accounts are affected.
4. If no column it goes to sundry account.
5. 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)
(100+𝑀𝑈) SP = Selling Price
SP = CP X 100
MU = Mark up (%)

(𝑆𝑃−𝐶𝑃)
MU = X 100
𝐶𝑃
Link between Cost price, Cost of Sales and
gross profit:

Cost of sales [CP] + [ Mark Up [MU] = SELLING PRICE [SP]

Sales - Cost of Sales = Gross Profit
e.g.
make up 25%

No. Selling Price (in Rands) Cost Price (in Rants) Mark Up

A 4 500 45%

B 5 000 15%

C 12 000 4 000

D 11 000 130%

E 120 360%

F 8 500 7 000

G 500 320

H 480 10%

I 900 28%

J 750 500

K 6800 120%

L 6 750 200%

M 1 500 500

5
 CASH RECEIPTS JOURNAL OF KYLIE’S SALON FOR MARCH 2017
DOC DAY DETAILS F ANALYSIS BANK SALES COST DEBTORS SUNDRY FOL ACCOUNTS
O OF OF CONTROL
L RECEIPT SALES
Amount Details
[SP] [CP]
B/S 2 Kylie 50 000 50 000 Capital
CRR 5 Sales 2000 2000 2000 1600
CRR 7 SALES 1200 1200 960
REC3 L.FOURIE 500 1700 500
53 700 3 200 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 CREDITORS SUNDRY FOL ACCOUNTS
A Of STOCK CONTROL
Y Payee
Amount Details

B/S 2 Nail 4000 4000

Supplier
CC01 5 Game 2500 500 2000 Equipment
CC02 8 Telkom 300 300 Telephone
SA Ltd
B/S 12 Makro 500 500

7300 4000 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’
Assets Liabilities
Equity
Current Current
Trading Stock Total investment
Money owed by customers the owner has in Money business owes to
(debtors) the business other businesses (creditors)
Money in bank account Overdraft
Cash in cash register
Petty Cash
Non-current / Fixed Non-current
Land and Buildings
Bond / Mortgage
Vehicles
Loan
Equipment
DEBIT CREDIT
D Debtors C Creditors
Money is owed to the business from a Business owes money to another
person who buys on account/credit business that was bought on credit
(Affects a business’s liabilities) (Affects a business’s liabilities)

E Expenses L Liabilities
Rent expense Wages
Electricity Maintenance
Bond / Mortgage
Water Repairs
Loan
Stationery Interest Paid
Salary Consumables
A Assets I Income
Current Income
Bank
Vehicle Sales
Equipment
Land & Buildings Rent Income
Trading Stock
Computers Interest Received
Machinery

D Drawings C Capital
Personal Use
eg. Owner takes trading stock for Money used to start/maintain a business
personal use.

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] D C
E L
The heart’s [Asset] Trading Stock [CHIPS] decreases [credit side] A I
The heart’s [Asset] Bank [MONEY] increases [debit side]. D C

Dr Bank Cr Dr Sales Cr

R10 R10

DR Trading Stock CR DR Cost of Sales CR

R5 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 A+ VEHICLE A- B4
Cr

STEP 2: WHICH SIDE IS BIGGER? THEN TOTAL THAT SIDE.

Dr VEHICLE B4
Cr
2016 1 BALANCE B/D 45 000 2016 20 BANK CRJ 2 35 000
APRIL APRIL
10 BANK CPJ2 85 000

10
STEP 3: MAKE THE OTHER SIDE EQUAL
 DOES NOT EQUAL MAKE IT
EQUAL

Total minus what you have]

Dr VEHICLE B4
Cr
2016 1 BALANCE B/D 45 000 2016 20 BANK CRJ 2 35 000
APRIL APRIL
10 BANK CPJ2 85 000
130 000

STEP 4: IT DOES NOT EQUAL THE TOTAL SO MAKE THE OTHER SIDE EQUAL

Dr VEHICLE B4
Cr
2016 1 BALANCE B/D 45 000 2016 20 BANK CRJ 2 35 000
APRIL APRIL
10 BANK CPJ2 85 000
130 000 130 000

STEP 5: MAKE THE OTHER SIDE EQUAL [ ALWAYS C/D TO END OF MONTH]

Dr VEHICLE B4
Cr
2016 1 BALANCE B/D 45 000 2016 20 BANK CRJ 2 35 000
APRIL APRIL
10 BANK 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 VEHICLE B4
Cr
2016 1 BALANCE B/D 45 000 2016 20 BANK CRJ 2 35 000
APRIL APRIL
10 BANK CPJ2 85 000 30 BALANCE C/D 95 000
130 000 130 000

11
NOMINAL SHEET ACCOUNT SECTION
In the Nominal
Account Section
Dr Cost of Sales write total in pencil N2
Cr as it’s a running total.
2016 12 TRADING CRJ2 5 000
APRIL STOCK
16 TRADING DJ 2 8 000
13 000
 12

BIG 5
TRADING STOCK B6
2O18 2018
MARCH 1 BALANCE B/D 2000 MARCH 31 COST OF SALES CRJ 4 4000
31 BANK CPJ 4 15000 31 COST OF SALES DJ4 2000
31 BALANCE C/D 11 000
17 000 17 000
APRI L 1 BALANCE B/D 11 000

DEBTORS CONTROL B7
2018 2018
MARCH 1 BALANCE B/D 10 000 MARCH 31 BANK CRJ 4 8000
31 SALES DJ4 15000 31 BALANCE C/D 17000
25 000 25 000
APRIL 1 BALANCE B/D 17 000

BANK B8
DATE DAY DETAILS FOLS AMOUNT DATE DAY DETAILS FOL AMOUNT
2018 2018
MARCH 1 BALANCE B/D 40 000 MARCH 31 TOTAL Payments cpj4 20000
31 TOTAL RECEI PTS CRJ 4 60 000 31 balance c/d 80 000
100 000 100 000
APRI L 1 BALANCE B/D 80 000

CREDITORS CONTROL B12

2018 2018
MARCH 31 BANK CPJ 4 5000 MARCH 1 BALANCE B/D 20000
31 BALANCE C/D 45 000 31 TOTAL PURCHASES CJ4 30000

50 000 50 000
APRI L 1 BALANCE B/D 45 000

COST OF SALES N2
2018
MARCH 1 BALANCE B/D 3000
31 TRADI NG STOCK CRJ4 4000
31 TRADI NG STOCK DJ4 2000
9 000
 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 CJ1

DO DA DETAIL FO CREDITOR TRADIN CONSUMABLE SUNDR FO DETAILS
C Y S L S G S Y L
CONTROL STOCK
I 03 10 Makro 6 500 4 500 1000 1000 Equipmen
t

CREDITORS ALLOWANCES JOURNAL [CAJ]

DEBTORS LEDGER OF KYLIE’S SALON FOR MAY 20.17

D. LOUBSER D1
DAY DETAILS FOL DEBIT CREDIT BALANCE
6 Invoice 55 DJ1 3000 3000
10 Receipt 9 CRJ1 1500 1500
15 Credit Note 5 DAJ1 1000 500
D. Wallace D2
DAY DETAILS FOL DEBIT CREDIT BALANCE
6 Invoice 56 DJ1 3800 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 DA DETAIL FO CREDITOR TRADIN CONSUMABLE SUNDR FO DETAILS
C Y S L S G S Y L
CONTROL STOCK
DN 15 Makro 1000 1000 Equipmen
3 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

MAKRO
DATE DETAILS FOL DEBIT CREDIT BALANCE
2017 6500 6500
MAR 10 MAKRO CJ1
15 MAKRO CAJ1 1000 5500
20 MAKRO CPJ1 1500 5000
3. On the 20 March you paid Makro R1500 back therefore, your business still owes
th

R4000 to Makro at the end of March 2017.

15
TRIAL BALANCE
1. Summary of the accounts balances in the General Ledger.
2. Accuracy of the double entry system is tested by doing a Trial Balance
3. The total of the debits should equal the credits
4. Only done at the end of the month.

TRIAL BALANCE OF KYLIE SALON ON 31 MARCH 2017

BALANCE SHEET ACCOUNT FOL DEBIT CREDIT
SECTION
OWNERS EQUITY
CAPITAL B1
DRAWINGS B2
FIXED ASSETS
LAND AND BUILDING B3
VEHICLES B4
FURNITURE B5
EQUIPMENT B6
CURRENT ASSETS
TRADING STOCK B7
DEBTORS B8
BANK B9
FIXED LIABILITY
LONG TERM LOAN B10
CURRENT LIABILITY
CREDITORS B11

NOMINAL ACCOUNT SECTION

SALES N1
COST OF SALES N2
DISCOUNT RECEIVED N3
COMMISSION INCOME N4
RENT INCOME N5
EXPENSES ALPHEBETICAL ORDER 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
TRADING BUSINESS RECORDED IN CRJ
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 SALES COST OF SALES

2000 1 000 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

300 300
MU ON CP IS
33 1/3 % MU ON CP IS 100 % MU ON CP % IS 25 % MU ON CP IS 50 %
100/133 1/3
OR 3/4 100/200 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 + Liability Debit Credit

= Equity
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 JNL A/C DEBIT in A/C CREDIT in A= O+ L

Document GL GL
Ex CC CPJ WAGES E + O- BANK A- - 3 000 -3 000 0

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. Bought equipment on credit from TJ Wholesalers, R27 000.

2. Paid via EFT to repay a R3 000 loan from ABSA Bank.
3. Drew cash from the ATM to pay employees wages, R 5 500.
4. 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 JNL A/C DEBIT in GL A/C CREDIT in A= O+ L

Document GL
Ex CC CPJ WAGES E + O- BANK A- - 3 000 -3 000 0

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 ACCOUNT A OE L
DEBIT CREDIT
1
2
3
4
5
6

7
8
9
10

22

Activity 8: AOL
Enter the transactions into the table below. Steps:
1. Identify the two
a) K. Ruby deposited R15 000 directly into the business as accounts
capital contribution. 2. Identify the asset
3. Is the asset going up
b) The business made R700 from services rendered. Customer (debit) or down (credit)
paid cash. 4. Fill the asset into the
c) Paid off a loan to the amount of R400. correct account column
(Debit OR Credit)
d) Paid wages to the workers to the value of R15 000. Paid via 5. Fill in the other account
EFT. column
e) Took Trading stock to the value of R6 500 for personal use. 6. Fill in the asset column
(asset going up +,
asset going down -)
f) Received a new loan to the value of R10 000. 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:
directly into the bank account as her capital contribution. 8. Identify the two accounts
9. Identify the asset
b) Cash sales on trading stock worth R800 (cost of sales R320) 10. Is the asset going up (debit)
c) Paid R9000 for rent via EFT. or down (credit)
11. Fill the asset into the correct
d) Paid wages to staff via EFT worth R9 500. account column (Debit OR
e) Sales of clothing worth R900. Customer paid my debit Credit)
12. Fill in the other account
card. column
f) Paid R2150 to the municipality for electricity via internet 13. Fill in the asset column
banking (asset going up +, asset
going down -)
g) Bought equipment for R8600 via EFT. 14. The other account, which
h) Sold trading stock to the value of R750 (cost of sales R300) column does it belong in?
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.

Source Account Account Owner’s

Journal Document DEBIT CREDIT Assets 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 _______________________________________________________

ANALYSIS SUNDRY
ACCOUNTS
OF COST OF
DOC. DAY DETAILS FOL. RECEIPTS BANK SALES SALES AMOUNT FOL. DETAILS

Cash Payments Journal of _____________________________________________________

SUNDRY
NAME OF ACCOUNTS

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 _______________________________________________________

ANALYSIS SUNDRY
ACCOUNTS
OF COST OF
DOC. DAY DETAILS FOL. RECEIPTS BANK SALES SALES AMOUNT FOL. DETAILS

Cash Payments Journal of _____________________________________________________

SUNDRY
NAME OF ACCOUNTS

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 Cr
Date Day Details Fol Amount Date Day Details Fol Amount

BALANCE SHEET ACCOUNTS SECTION

31
Cr
Date Day Details Fol Amount Date Day Details Fol Amount
 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 FOR

DOC DAY NAME OF FOL BANK SUNDRY ACCOUNT
PAYEE

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 Cr
Date Day Details Fol Amount Date Day Details Fol 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 R100 000 Bank R45 700
Sales R24 000 Equipment R 3 000
Cost of Sales R16 000 Trading Stock R40 500
Equipment R12 000 Wages R2 200

Date Day Details Fol Amount Date 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 N2

Wages
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 Fol Amount

BANK
B1

TRADING STOCK B2

NOMINAL SHEET ACCOUNTS SECTION

CURRENT INCOME
N1

RENT INCOME
N2

WATER & ELECTRICITY

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 FOR

DOC DAY NAME OF FOL BANK SUNDRY ACCOUNT
PAYEE

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 AMOUNT

Activity 19: CASH RECEIPT JOURNAL, CASH PAYMENTS JOURNAL AND DEBTORS JOURNAL
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 Stock was delivered by T. Ree paid R2 800 via eft.

3 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 FOR

DOC D NAME OF F BANK CREDITOR SUNDRY ACCOUNT
A PAYEE O S
Y L 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 ANALYSI SUNDRYF
FO S OF COST OF DEBTORS ACCOUNTSO
DOC Y NAME OF
DETAILS L RECEIPT BANK SALES SALES CONTROL AMOUNT L. DETAILS
DOC. DAY PAYEE FOL. BANK AMOUNT FOL. DETAILS

51

DEBTORS JOURNAL OF________________________________________________

DOC. DAY DETAILS FOL. SALES COST OF SALES

 52

General Ledger of _______________________

Dr Cr
Date Day Details Fol Amount Date Day Details Fol Amount

BALANCE SHEET ACCOUNTS SECTION

 53
Dr Cr
Date Day Details Fol Amount Date Day Details Fol Amount

NOMINAL SHEET ACCOUNTS SECTION

 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

F ANALYS COST
O IS OF OF DEBTORS FO
DOC DAY DETAILS L RECEIPT BANK SALE SALES CONTROL AMOUNT L. DETAILS

57
CASH PAYMENTS JOURNAL OF ________________________________________________
DEBTORS JOURNAL OF__________________________________________________
SUNDRY
ACCOUNTS
NAME OF
DOC. DAY PAYEE FOL. BANK AMOUNT FOL. DETAILS
DOC. DAY DETAILS FOL. SALES COST OF SALES
 58
CREDITORS JOURNAL OF_______________________________________________________

SUNDRY
ACCOUNTS
CREDITORS
DOC. DAY DETAILS 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

F ANALYS COST
O IS OF OF DEBTORS FO
DOC DAY DETAILS L RECEIPT BANK SALE SALES CONTROL AMOUNT L. DETAILS

60
 61
CASH PAYMENTS JOURNAL OF ________________________________________________

SUNDRY
ACCOUNTS
NAME OF
DOC. DAY PAYEE FOL. BANK AMOUNT FOL. DETAILS

General Ledger of _______________________

Dr Cr
Date Day Details Fol Amount Date Day Details Fol Amount

BALANCE SHEET ACCOUNTS SECTION

 62
Date Day Details Fol Amount Date Day Details Fol Amount

NOMINAL SHEET ACCOUNTS SECTION

 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 ANALYSIS
NO DAY DETAILS FOL OF COST OF Debtors SUNDRY ACCOUNT
RECEIPTS BANK SALES SALES Control AMOUNT FOL DETAILS
REC56 1 J Adams 220000 * * *
REC57 3 Sales 26580 * * *
Current
B/S 4 R Rein * 30000 * Income
CRR526 12 Sales * * 21580 *
Loan: IOU
B/S 14 IOU Bank * 80000 * bank
REC59 19 C. Cronje 2900 * *
CRR527 Sales * * * 18700
REC60 26 S.A Melane 7400 * 7400
B
REC61 28 Overmeyer * 12600 *
* * * * *
65

CASH PAYMENTS JOURNAL OF J Adams CLOTHING FOR FEBRUARY 2.20

CPJ 5

DA CREDITOR SUNDRY ACCOUNT

DOC Y TRADING S AMOUN FO
NO DETAILS BANK STOCK WAGES CONTROL T L DETAILS
Land &
CC65 1 Remax Estate 95 000 95 000 Buildings
CC66 2 Linen & Cotton * 9 000
CC67 4 Sewing Dealers 14 950 * Equipment
CC68 6 Central News * 1250 Advertising
CC69 Cash 5000 5000
Calista
9
CC70 Wholesalers 9 690 *
CC71 13 Cash * 5000
B/S 20 J Adams 12 500 12500 *
CC72 21 Telkom 2 355 2355 *
CC73 25 Geo's Fabrics 13 456 *
CC74 26 Pinns Retailers 7 033 *
* * * * *
66
DEBTORS JOURNAL OF J Adams Clothing for Feb 2.20
DOC NO DAY DETAILS FOL SALES COST OF SALES
INV31 11 B Overmeyer * 13135
INV32 24 C Cronje 17528 *
INV33 25 SA Melane * 2400
INV34 26 B Overmeyer 15600 *
* *

CREDITORS JOURNAL OF J Adams for Feb 2.20

CREDITORS TRADING SUNDRYACCOUNT
DOC NO DAY DETAILS CONTROL STATIONERY STOCK AMOUNT FOL DETAILS
INV15 2 Calista Wholesalers * 1523 108750 Equipment
INV16 10 Linen & Cotton 43541 *
INV17 19 Geo's Fabrics 26800 * 974 Drawings
INV18 22 Calista Wholesalers 16864 864 *
INV19 24 Pinn's Retailers 40000 * Vehicles
* * * *
67
General ledger of J Adams Clothing for February 2.20
BALANCE SHEET ACCOUNT SECTION
Date Day Details Fol Amount Date Day Details Fol Amount
DR 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