TASK $5\mathrm{.}12$

Majola's Superette: Journals, Debtors$/$

Creditors Ledger, General Ledger

Required:

$5\mathrm{.}12\mathrm{.}1$ Record the transactions given below in the correct Journals. Cast the relevant columns in the journals. Relevant folio references must be shown.

$5\mathrm{.}12\mathrm{.}2$ Post to the account of Bey Knowles in the Debtors Ledger.

$5\mathrm{.}12\mathrm{.}3$ Post to the account of Yebo Wholesalers in the Creditors Ledger.

$5\mathrm{.}12\mathrm{.}4$ Post to the following accounts in the General Ledger: $($Some balances$/$totals are given in brackets$)$

Debtors control

$(?)$

Creditors control

$(?)$

Trading stock $($R$38000)$

Sales

$($R$47000)$

New Era Accounting: Grade $10$

Information:

The following information was extracted from the records of Majola's Superette.

$\backslash$table$[[$Debtors List on $31$ January $20\mathrm{.}2],[$Bey Knowles,R$450],[$Ms X$.$ Quisite,R$280],[,$R$730]]$

$\backslash$table$[[$Creditors List on $31$ January $20\mathrm{.}2,],[$Upfront Wholesalers,R$1900],[$Yebo Wholesalers,R$2340],[,$R$4240]]$

Transactions for February $20\mathrm{.}2$

$1$ Took a loan from ZBS for R$20000$ at an interest rate of $12\%$ p$.$a$.$ The money was deposited directly in the bank account. CRJ

$3$ Paid the telephone account by cheque to Telfone, R$360.$ CPJ

$5$ Ms X$.$ Quisite settled her account. She sent a cheque for R$265.$

$7$ Supplied merchandise on credit to Bey Knowles, R$640($cost of sal RJ Cash sales for the week amounted to R$7800($cost of sales R$5850).$CR $.$CRJ Paid the weekly wages of the two employees by cheque R$3900.($Th the same wage$).($Ignore deductions$).$ CPJ

$10$ Cashed a R$250$ cheque for change for the till $($cash register$).$

$12$ Acquired the following on credit from Upfront Wholesalers:

Trading stock R$330$

Stationery R$100$

Cash sales for the week, R$6200($cost of sales R$4650).($ R J

Paid the weekly wages $($ignore deductions$).($ PJ

Forwarded a cheque for R$1000$ to Yebo Wholesalers as part payment of their account. A discount of $R30$ was received. CPJ

Supplied merchandise on credit to Bey Knowles, R$320($cost of sales R$240).$ CRJ

Paid the water and electricity account to TLC by cheque, R$522.$ C P J

Received a cheque for R$430$ from Bey Knowles in settlement of her account on $31$ st January $20\mathrm{.}2.$

$21$ Cash sales as per CRT$,$ R$9200($cost of sales R$6900)$:CR J

Paid the weekly wages by cheque $($ignore deductions$).$ C $p$ J

Note: A third worker was employed at the beginning of the week and he earns the same salary as the other two. C PJ

$22$ Issued credit sales invoices to: $D$ J

Ms X$.$ Quisite R$520($cost of sales R$390).$

Bey Knowles R$780($cost of sales R$585).$

$23$ Bought trading stock on credit from the following suppliers: $>$

Yebo Wholesalers R$340$

Upfront Wholesalers R$2410$

$25$ Issued a cheque to Upfront Wholesalers for R$3077$ for the following items bought:

CPJ

Merchandise R$2777$ and

A calculator $($equipment$)$ for office use.

$26$ Cash sales as per CRT$,$ R$12000($cost of sales R$9000).$ CR J

Paid the weekly wages by cheque $($ignore deductions$).$

CPJ

Note: All three workers were given a $10\%$ increase.

Received the monthly rental of R$1200$ from tenant, Bluray Videos.

$27$ Issued a cheque to CWT Printers for the printing of letterheads $($s$)($ J J

Settled the account of Yebo Wholesalers to

$29$ Sent a cheque for R$545$ to DeeJo Supplie date by cheque less a discount of $2\%$ C consumable stores. CPY $$ New Era Accounting: Grade $10$