QUESTION TWO [45] 9. Rental of R600 was paid as per the entered lease agreement. The accounting equation is the Alpha of Accounting rules. As the junior accountant at the stationery 10. Cash sales of R750 was made to Mrs. Strong. The cost of the goods is R400. shop, Polka-Dots (Pty) Lto. 11. Fuel of R800 for the delivery truck was posted to the salaries and wages account. 12. Mr. Plan's son was accepted to study at the university. The stationery needs are not yet communicated. As Mr. Plan will be travelling he paid a deposit of R4 000 to Polka-Dot (Pty) Transactions related to the 2022 financial year: Lto to apply to his son's stationery needs. 1. Posters to the value of R550 was purchased by the primany school. Payment was made in 13. Mr. Sick passed away. His estate has insufficient funds to settle his account of R3500. The cash. lawyers offered a final settlement of 60c in the rand. 2. Unwanted goods of R800 purchased by Mrs. Strong on account, was returned. The cost of 14. Depreciation is calculated on the straight-line basis of 25% by Polka-Dot (Pty) Ltd. The the goods is R500. annual depreciation on the delivery truck, purchased for R350 000 in 2020 , have not been accounted. 3. Mr. Prince applied to open an account at Polka-Dots (Pty) Lto. A limit of R2 000 was 15. The company uses the periodic inventory system. At financial year-end stock of R5500 was approved by management. on hand. The opening balance on the inventory account amounts to R8000. 4. Mr. Prince purchased stationery of R1 750 for his Grade 9 child on credit. 5. Fly Bank charged the monthly bank charges of R45. Required: 6. The municipal bill in respect of water and electicity usage, amounting to R850 was received. 2.1. Record the transactions (1-16) in the accounting records via general journals for the financial 7. A long-outstanding dispute with the cellphone company was finally resolved. The correcting year ended 31 July 2022 (35) credit was passed by the cellphone company of R140. 2.2. From the transaction provided (1-16), prepare the debtors control account in the general 8. To fill up the stock shortages, an order of R5 OOO was issued to GREAT L Lto. ledger of Polka-Dot (Pty) Ltd. The account has and opening balance of R5 000. (6) 2.3. In considering the entries (1-16) provided, prepare the fuel and salaries and wages general ledger accounts of Polka-Dot (Pty) Ltd for the financial closure. Salaries recorded before your appointment amounts to R6000. (4)
