QUESTION FOUR [10] The following information was extracted from the accounting records of Niki's Wholesalers for the month ended 31 October 2019. Niki's write up their primary journals and post to their subsidiary ledgers daily. Transactions are posted to their general ledger accounts at the end of the month. Trade creditors control account balances at 1 October 2019 is as follows; Trade creditors control R3 120 (Debit) and R49 540 (credit). Extracted from the subsidiary journals : Totals of selected columns at 31 October 2019: Sales journal Sales returns journal Purchases journal Purchases returns journal Cash receipts journal: Sales column Cash receipts journal: Trade debtors column Cash receipts journal: Settlement discounts granted column Cash payments journal: Purchases column Cash payments journal: Trade creditors column Cash payments journal: Settlement discount received column Cash payments journal; Trade receivables column R 55 256 3 658 44 960 1 640 58 825 49 540 3 928 69 340 65 960 4 880 6 500 Debits-R 5 929 Sundry general journal entries: Trade debtors control Trade creditors control (stationery purchased) General ledger Credits - R 873 1 680 1 230 9 140 Additional information: 1. Niki's Wholesalers use the periodic inventory system to keep records of their trading activities. 2. The debit balance in the Trade creditors control account is in respect of an overpayment to creditor N Jonas. It has been agreed with N Jonas that the amount of R3 120 must be transferred from our trade creditors ledger to N Jonas's account in the trade debtors ledger. The control accounts need to be adjusted accordingly. 3. During October 2019, trade goods to the value of R5 472 were purchased on credit from P Chops. An invoice was received but was not recorded in the relevant journal. Required: Prepare the Trade creditors' control account for the month ended 31 October 2019. The details column of the account must reflect the contra account. The additional information must be taken into account. The account must be balanced at the month end 31 October 2019. You may ignore folio numbers. QUESTION FOUR [10] The following information was extracted from the accounting records of Niki's Wholesalers for the month ended 31 October 2019. Niki's write up their primary journals and post to their subsidiary ledgers daily. Transactions are posted to their general ledger accounts at the end of the month. Trade creditors control account balances at 1 October 2019 is as follows; Trade creditors control R3 120 (Debit) and R49 540 (credit). Extracted from the subsidiary journals : Totals of selected columns at 31 October 2019: Sales journal Sales returns journal Purchases journal Purchases returns journal Cash receipts journal: Sales column Cash receipts journal: Trade debtors column Cash receipts journal: Settlement discounts granted column Cash payments journal: Purchases column Cash payments journal: Trade creditors column Cash payments journal: Settlement discount received column Cash payments journal; Trade receivables column R 55 256 3 658 44 960 1 640 58 825 49 540 3 928 69 340 65 960 4 880 6 500 Debits-R 5 929 Sundry general journal entries: Trade debtors control Trade creditors control (stationery purchased) General ledger Credits - R 873 1 680 1 230 9 140 Additional information: 1. Niki's Wholesalers use the periodic inventory system to keep records of their trading activities. 2. The debit balance in the Trade creditors control account is in respect of an overpayment to creditor N Jonas. It has been agreed with N Jonas that the amount of R3 120 must be transferred from our trade creditors ledger to N Jonas's account in the trade debtors ledger. The control accounts need to be adjusted accordingly. 3. During October 2019, trade goods to the value of R5 472 were purchased on credit from P Chops. An invoice was received but was not recorded in the relevant journal. Required: Prepare the Trade creditors' control account for the month ended 31 October 2019. The details column of the account must reflect the contra account. The additional information must be taken into account. The account must be balanced at the month end 31 October 2019. You may ignore folio numbers
