Question 3 03 The following are the transactions of A Sutherland for the month of January 2007 Type of Transaction Jan 01 A Sutherland paid R5 000 into a business bank account cash receipt 02 Purchased goods for resale from W Co Ltd on credit, credit purchase R900 Sold goods on credit to Arthur for R1 000 credit sale 04 Purchased goods for resale and paid by cheque no 901, R480 cash payment 08 Sold goods on credit to Brown for R800 credit sale 09 Purchased goods for resale from X Co Ltd on credit, R260 credit purchase 10 A cheque for R760 was received from Brown in full settlement of his account cash receipt Paid R234 to X Co Ltd by cheque no 902 and received R26 discount cash payment 15 Sold goods on credit to Cohen for R1 600 credit sale 16 Purchased goods for resale from Y Co Ltd on credit, R520 credit purchase 17 Received a cheque from Cohen for R1 520 in full settlement of his debt cash receipt 18 Paid wages by cheque no 903, R240 cash payment 22 Sold goods on credit to Doby for R600 credit sale 23 Purchased goods for resale from Z Co Ltd on credit, R320 credit purchase 11 24 25 Sold goods for cash R2 320 and banked this sum cash receipt Paid R810 to W Co Ltd by cheque no 904 and received R90 discount cash payment All amounts are 14 VAT inclusive, where applicable Do all calculations to the nearest cent Required 1 (a) Record the above transactions in the following specialised journals sales journal debtors journal purchases journal creditors journal cash receipts journal and cash payments journal Total the journals after the last transaction for the month (b) Post the relevant transactions from the journals to the debtors ledger and creditors ledger (c) Post from the journals to the relevant counts in the general ledger (d) Prepare the trial balance at 31 January as well as lists of balances from the debtors ledger and creditors ledger, le) Agree the totals of the list of subsidiary ledger balances with the relevant control account totals on the trial balance 864 2 Record the cash receipt and cash payment transactions in the cash book and compare this with cash receipts and cash payments journals 20

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Question 3 03 The following are the transactions of A  Sutherland for the month of January 2007  Type of Transaction Jan  01 A  Sutherland paid R5 000 into a business bank account  cash receipt 02 Purchased goods for resale from W Co  Ltd  on credit, credit purchase R900 Sold goods on credit to Arthur for R1 000  credit sale 04 Purchased goods for resale and paid by cheque no  901, R480  cash payment 08 Sold goods on credit to Brown for R800  credit sale 09 Purchased goods for resale from X Co  Ltd  on credit, R260  credit purchase 10 A cheque for R760 was received from Brown in full settlement of his account  cash receipt Paid R234 to X Co  Ltd  by cheque no  902 and received R26 discount cash payment 15 Sold goods on credit to Cohen for R1 600  credit sale 16 Purchased goods for resale from Y Co  Ltd  on credit, R520 credit purchase 17 Received a cheque from Cohen for R1 520 in full settlement of his debt  cash receipt 18 Paid wages by cheque no  903, R240  cash payment 22 Sold goods on credit to Doby for R600  credit sale 23 Purchased goods for resale from Z Co  Ltd  on credit, R320  credit purchase 11 24 25 Sold goods for cash R2 320 and banked this sum  cash receipt Paid R810 to W Co  Ltd  by cheque no  904 and received R90 discount  cash payment All amounts are 14  VAT inclusive, where applicable  Do all calculations to the nearest cent  Required 1  (a) Record the above transactions in the following specialised journals  sales journal debtors journal purchases journal creditors journal cash receipts journal  and cash payments journal  Total the journals after the last transaction for the month  (b) Post the relevant transactions from the journals to the debtors ledger and creditors ledger  (c) Post from the journals to the relevant counts in the general ledger  (d) Prepare the trial balance at 31 January as well as lists of balances from the debtors ledger and creditors ledger, le) Agree the totals of the list of subsidiary ledger balances with the relevant control account totals on the trial balance  864 2  Record the cash receipt and cash payment transactions in the cash book and compare this with cash receipts and cash payments journals   20

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Question 3 03 The following are the transactions of A. Sutherland for the month of January 2007: Type of Transaction Jan. 01 A. Sutherland paid

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