PART B Funky Traders trades in shoes. The following transactions were concluded during May 2020: May...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
PART B Funky Traders trades in shoes. The following transactions were concluded during May 2020: May 1 Purchase shoes on credit from Shoeworks Ltd for R17 100. 7 Purchase fuel for R180 cash. 11 Return shoes to the value of R912 to Shoeworks Ltd. 16 Sales of R13 680 on credit to Mr Boot. 20 Receive R2 000 from Mr Boot as part of his payment. REQUIRED: Journalise the above transactions of Funky Traders during May 2020. Funky Traders is registered for VAT purposes and all amounts include VAT where applicable. Note: Journal narrations (descriptions) are not required VAT is calculated at 15% (15) PART B Funky Traders trades in shoes. The following transactions were concluded during May 2020: May 1 Purchase shoes on credit from Shoeworks Ltd for R17 100. 7 Purchase fuel for R180 cash. 11 Return shoes to the value of R912 to Shoeworks Ltd. 16 Sales of R13 680 on credit to Mr Boot. 20 Receive R2 000 from Mr Boot as part of his payment. REQUIRED: Journalise the above transactions of Funky Traders during May 2020. Funky Traders is registered for VAT purposes and all amounts include VAT where applicable. Note: Journal narrations (descriptions) are not required VAT is calculated at 15% (15)
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith. Question 1 T1 - step 4 - line 66 This is Anna's taxable income Answer: Question 2 T1 - step...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Why must Microsoft report this charge of over $1billion entirelyin one quarter, the last quarter of the company's physicalyear? From an accounting point of view, what willMicrosoft do in the futur?
-
Marquette agreed to provide all cement that Norcem would need for over two years. The quantity and sales price for the first two shipments were specified in the contract. The third shipment,...
-
How can you formally obtain discovery of information about the adverse party posted on a social media site?
-
The following balances come from the trial balance of Wilson State College as of the end of the 2020 fiscal year. Required a. Prepare a statement of revenues, expenses, and changes in net position...
-
How would you expect seasonal fluctuations in demand to affect a rental company's decisions about pricing rented products such as wedding dresses or convertible cars? In terms of pricing principles,...
-
Far Rockaway Manufacturing, a manufacturer of parts for diesel engines, provides the following financial information for the most recent fiscal year. Inventories: As of January 1 : Direct materials 8...
-
The mathematical model of a dynamic system is given as \[ \left\{\begin{array}{l} \ddot{x}_{1}+2 \dot{x}_{1}+\frac{1}{2}\left(x_{1}-x_{2} ight)=f(t) \\ 3...
-
The I/O equation for a dynamic system is given as \(3 \ddot{x}+2 \dot{x}+4 x=f(t)\), where \(f\) and \(x\) denote the input and output, respectively. a. Find the system's transfer function. b....
-
Electric charge \(q\) and electric current \(i\) are related via \(i=d q / d t\). In Problem 15, find the transfer function if \(v(t)\) and \(q(t)\) are the system input and output, respectively.
-
The governing equation for an electric circuit is derived as \[L \frac{d i}{d t}+R i+\frac{1}{C} \int_{0}^{t} i(t) d t=v(t)\] where \(L, R\), and \(C\) are the inductance, resistance, and...
-
A system model and its inputs and outputs are provided. Find the appropriate transfer function or matrix. \(\left\{\begin{array}{l}\ddot{x}_{1}+x_{1}-x_{3}-2\left(\dot{x}_{2}-\dot{x}_{1}...
-
Discussion questions: Read Emily Dickinson introduction and poetry: the soul selects her own society, I heard a fly buzzwhen I died, because I could not stop for death, and tell all the truth, but...
Study smarter with the SolutionInn App