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Majola Traders is a registered VAT vendor and the financial year end is 28 February 2023 . The bookkeeper of Majola Traders requested your assistance
Majola Traders is a registered VAT vendor and the financial year end is 28 February 2023 . The bookkeeper of Majola Traders requested your assistance after noting the following: a) On 5 September 2022, Majola Traders received an electronic funds transfer of R135240 (VAT inclusive) for rental of a new office building from September 2022 up to 31 August 2023 . The total amount recorded on the trial balance on 28 February 2023 is R117600. b) The total insurance paid for the year as per the trial balance on 28 February 2023 is R21 250 . The monthly insurance premium is R7 437.50 (VAT inclusive). Required: Prepare the general journal with regard to the adjustments of Majola Traders at 28 February 2023 MAJOLA TRADERS GENERAL JOURNAL - FEBRUARY 2023 Majola Traders is a registered VAT vendor and the financial year end is 28 February 2023 . The bookkeeper of Majola Traders requested your assistance after noting the following: a) On 5 September 2022, Majola Traders received an electronic funds transfer of R135240 (VAT inclusive) for rental of a new office building from September 2022 up to 31 August 2023 . The total amount recorded on the trial balance on 28 February 2023 is R117600. b) The total insurance paid for the year as per the trial balance on 28 February 2023 is R21 250 . The monthly insurance premium is R7 437.50 (VAT inclusive). Required: Prepare the general journal with regard to the adjustments of Majola Traders at 28 February 2023 MAJOLA TRADERS GENERAL JOURNAL - FEBRUARY 2023
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