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help please [30] QUESTION TWO Inventories of Waka Traders amounted to R6 000 on 01 January 2020. Transactions during 2020 year were as follows: R
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[30] QUESTION TWO Inventories of Waka Traders amounted to R6 000 on 01 January 2020. Transactions during 2020 year were as follows: R Credit purchases 10 000 Returns out 1 000 Credit sales 20 000 Required: 2.1. According to the periodic inventory system, if the closing inventories on 31 December 2020 amounted to R3 000: (6) 2.1.1 Journalise the transactions for 2020. (9) 2.1.2 Prepare the trading statement for the year ended 31 December 2020. 2.2. According to the perpetual inventory system, if the gross profit percentage on sales in 30%: (6) 2.2.1 Journalise the transactions for 2020. (9) 2.2.2 Prepare the trading statement for the year ended 31 December 2020. QUESTION THREE [25] The following balances are obtained from the general ledger of Moya Entity on 31 December 2020: R Sales 500 000 Sales returns 40 000 Purchases 300 000 Purchase returns 20 000 Salaries 33 000 Rent expense 52 000 Interest income 26 000 Rent income 11 000Step by Step Solution
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