1 The following figures are from the 2004 Godzilla Store books Land and Buildings 90,000 Loan 20,000 Accumulated income 10,000 Drawings 12,000 Uniform 13,000 Net profit 14,000 Debtors 13,000 Creditors 16,000 Telephone 11 000 Machinery 13,000 Motor vehicle expenses 12,000 Administrative expenses 18,000 Installations and accessories 30,000 Water and electricity 10,000 Using financial statement elements, group the accounts under the respective elements and Calculate the amount of Capital that is missing 2 Cymot Cash and Carry, owned by James K and Jones K, made the following transactions for January 2014 2 Started a business with N$50,000 in the business bank account, 25 of which was a loan from Bank of africa 4 Goods sold on credit 6 Machinery purchased for cash N$20,000 8 Water and electricity paid N$3,000 9 Goods purchased on credit N$16,000 11 Repair of company machinery for an amount of N$6,000 14 The owner took property N$6,000 for personal use 16 Debtors who owed N$1,800 were declared unable to pay Date Assets Assets Equity Equity Passive Passive account Effect ( ) $ Account Effects ( ) $ accounts Effects ( ) Required Copy the above table format into your answer book and classify each transaction into the table of accounting equations showing the effects of each transaction on the accounting equation 3 The following is information for Clifton Trading Company which has a fiscal year end of 31 November 19 x 5 Based on the following information, you are requested to prepare a debtors report and creditors control account Sales Cash 344 890 Sales Credit 268 187 Purchases Credit 496 600 Purchases Cash 14,440 Total Customer Collections 600 570 Total payments to suppliers 503 970 Discount allowed to all credit customers 5520 Bad debts written off 780 Credit notes issued to credit customers 4 140 Discount received from credit providers 3 510 Balance in the accounts receivable ledger offset against the balance in the accounts receivable ledger 70 Refunds issued to customers in cash 5,070 Increase in the provision for bad debts 90 Credit notes received from credit providers 1 480

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1 The following figures are from the 2004 Godzilla Store books. Land and Buildings 90,000 Loan 20,000 Accumulated income 10,000 Drawings 12,000 Uniform 13,000 Net

The following figures are from the 2004 Godzilla Store books.

Land and Buildings 90,000

Loan 20,000

Accumulated income 10,000

Drawings 12,000

Uniform 13,000

Net profit 14,000

Debtors 13,000

Creditors 16,000

Telephone 11 000

Machinery 13,000

Motor vehicle expenses 12,000

Administrative expenses 18,000

Installations and accessories 30,000

Water and electricity 10,000

Using financial statement elements, group the accounts under the respective elements and Calculate the amount of Capital that is missing.

Cymot Cash and Carry, owned by James K and Jones K, made the following transactions for January 2014.

2. Started a business with N$50,000 in the business bank account, 25% of which was a loan from Bank of africa

4. Goods sold on credit

6. Machinery purchased for cash N$20,000.

8. Water and electricity paid N$3,000.

9. Goods purchased on credit N$16,000.

11. Repair of company machinery for an amount of N$6,000

14. The owner took property N$6,000 for personal use.

16. Debtors who owed N$1,800 were declared unable to pay.

Date	Assets	Assets	Equity	Equity	Passive	Passive
	account	Effect (+/-) $	Account	Effects (+/-) $	accounts	Effects (+/-)

Required: Copy the above table format into your answer book and classify each transaction into the table of accounting equations showing the effects of each transaction on the accounting equation.

The following is information for Clifton Trading Company which has a fiscal year end of 31 November 19 x 5. Based on the following information, you are requested to prepare a debtors report and creditors control account.

Sales – Cash 344 890

Sales – Credit 268 187

Purchases – Credit 496 600

Purchases – Cash 14,440

Total Customer Collections 600 570

Total payments to suppliers 503 970

Discount allowed to all credit customers 5520

Bad debts written off 780

Credit notes issued to credit customers 4 140

Discount received from credit providers 3 510

Balance in the accounts receivable ledger offset against the balance in the accounts receivable ledger 70

Refunds issued to customers in cash 5,070

Increase in the provision for bad debts 90

Credit notes received from credit providers 1 480

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Question 1 Grouping the accounts under their respective elements Assets Land and Buildings 90000 Debtors 13000 Machinery 13000 Installations and accessories 30000 Liabilities Loan 20000 Creditors 1600... blur-text-image