QUESTION 2 130 MARKS 45 MINUTES Mr Golden is the owner of Golden pyTraderer "OCT, The Decis buying and selling fully refined 20s of deep frying or to bowl Tuck wrope Individus anders across South Africa OCT accounts for inventory ung perpetual memory system on the Free Fest O FIFO be the only and VAT wander andere in trading with VAT leved at 15%20Hensyngstale-up of 80% on COGCT metre ventory at the lower of cost ar netrable value. Tractions include VAT, we therwise The following concurred during May 2011 1. Invertory on hand Mey 2021 urted to R10 000. Each 2L frying a cont RA0 exciting VAT) 2. During the fruiwek of May. GCT sad 1400 ryngolah 2. A customer red string of the were sold during the first week of May to the game and requested a refund. The refund was processed wa EFT. On the same day. GCT decided to discard at the 50 synonce they cannot be soldagar 4. During the second war, GCT cated 1000 20L of tryngol cash for RAGOch The suporter offered trade discount for the purch CCT sopid R13 800 for transporting the new stock from the wpier to me te prem. The suppler insured the delivers win - Trip Insurance at a cost of R450 per delety. The insurance premiums are cost to supplier, this is to ensure that all customers receive their stock in good condition and prevent any losses or damages while lock in the bookkeeper of GCT w wysed on how to record racion but wing to process follow Accounts affected DRA CRR Purchases 160x1000) 460 000 Insurance 430 Transport expense 1300 474 200 6. During the week of May, GCT od 600 20L of fryngol Of these woes48 mshd here berg on credit OCT perime physical inventory count on 31 M 2021 which revealed that the business in having 445 20L of trying olon and excluding the 5 that were returned and thrown awy refer to 513 CACCO11 JUNE JULY EXAMINATION REQURED: MARKS 14 14 wahrnce transaction you to do the town Dichter of you are with the journal entry of the Sokker You don should be on the account sected only cuolations are not required 2. Provide the correct journal entry Calculations are required Date and nations are not required Prepare the journal arties that would appear in the words of OCT for the month and 1 May 2021 1. Transactions 2. Transaction Transaction & Transaction Dales and answergured Show al calon 15 19 QUESTION 2 130 MARKS 45 MINUTES Mr Golden is the owner of Golden pyTraderer "OCT, The Decis buying and selling fully refined 20s of deep frying or to bowl Tuck wrope Individus anders across South Africa OCT accounts for inventory ung perpetual memory system on the Free Fest O FIFO be the only and VAT wander andere in trading with VAT leved at 15%20Hensyngstale-up of 80% on COGCT metre ventory at the lower of cost ar netrable value. Tractions include VAT, we therwise The following concurred during May 2011 1. Invertory on hand Mey 2021 urted to R10 000. Each 2L frying a cont RA0 exciting VAT) 2. During the fruiwek of May. GCT sad 1400 ryngolah 2. A customer red string of the were sold during the first week of May to the game and requested a refund. The refund was processed wa EFT. On the same day. GCT decided to discard at the 50 synonce they cannot be soldagar 4. During the second war, GCT cated 1000 20L of tryngol cash for RAGOch The suporter offered trade discount for the purch CCT sopid R13 800 for transporting the new stock from the wpier to me te prem. The suppler insured the delivers win - Trip Insurance at a cost of R450 per delety. The insurance premiums are cost to supplier, this is to ensure that all customers receive their stock in good condition and prevent any losses or damages while lock in the bookkeeper of GCT w wysed on how to record racion but wing to process follow Accounts affected DRA CRR Purchases 160x1000) 460 000 Insurance 430 Transport expense 1300 474 200 6. During the week of May, GCT od 600 20L of fryngol Of these woes48 mshd here berg on credit OCT perime physical inventory count on 31 M 2021 which revealed that the business in having 445 20L of trying olon and excluding the 5 that were returned and thrown awy refer to 513 CACCO11 JUNE JULY EXAMINATION REQURED: MARKS 14 14 wahrnce transaction you to do the town Dichter of you are with the journal entry of the Sokker You don should be on the account sected only cuolations are not required 2. Provide the correct journal entry Calculations are required Date and nations are not required Prepare the journal arties that would appear in the words of OCT for the month and 1 May 2021 1. Transactions 2. Transaction Transaction & Transaction Dales and answergured Show al calon 15 19