WALENDAR-DISTANCE BACHELOR OF COMMERCE YEAR I - ACADEMIC AND ASSESSMENT CALENDAR -DISTANCE Required: Show general journal entries to record the declaration of dividends on 30 November 2019 and the subsequent payment of dividends on 31 December 2010 Show dates on which the journal entries will be recorded. Include a brief narration (10) to the credit sales amount of R96 330. This entry has been posted correctly to the personal account of the debtor in the debtor's subsidiary ledger. 1.5 The wes journal was over-cast by R840. A credit sale of R340 was not posted to the personal account of the debtor in the debtors ledger account. The amount has been posted correctly to the sales account and the debtors control account in the general ledger A credit note for R140 was recorded correctly in the sales returns journal but posted to the wrong side of the debtor's personal account in the debtors subsidiary ledger 1.8 The debtors column in the cash receipts joumal includes an amount of R390 being a settlement discount received from a creditor QUESTION THREE Dean Stone operates a business, Stone Wear Style, for which the accounting records [20] include control accounts for debtors and a separate control account for creditors. Dean just promoted Charlie Bait to maintain records of the control accounts and to reconcile the lists and the control account balances. The following information relates to March 2019 DR Debtors control alc 201 R 201 R 9 Balance (correct) bu 31 340 9 Sales returns - Credit 1.3 Bank (debtors column) 90 900 313 Bank debtor 850 31.3 Discounts granted 1 370 refunds 67 602 Credit sales 96 330 Credit purchases 2016 Drawings 300 Cash purchases 550 Purchases returns 4262 Discounts received 7 000 credit Bank-creditors 141 174 column Balance old 224 592 224 592 1.4 Balance 141 174 19 The purchase journal was under-cast by R1 436 1.10 The Raso was refunded to a debtor because their account was overpaid. Required: 3.1 Prepare a property balanced debtors control account, corrected for errors that exist in the given account, and a properly balanced creditors control account for March 2019. NB. The additional information must also be taken in account. (16) Prepare the debtors reconciliation statement for March 2010 Additional information: 1.1 At 1 March 2019, the balance of the creditors control account was R16 600 QUESTION FOUR [25 Stan and Ben are in partnership, sharing profits and losses in the ratio of their capital ccount balances at the beginning of the financial yeow 1.2 There are errors in the above debtors control account that need to be corrected. There are items recorded that should not be reflected in the debtors control account. Some items are also on the wrong side of the account. On 30 June 2019, Stan deposited an additional R150 000 into the partnerships bank account. The introduction of Stan's capital has been correctly recorded 1.3 The total of the list of debtors balances at 31 March 2010 was R32 120 An amount of R230 written off as credit losses, has erroneously been added The following is an extract of relevant accounts from the trial balance at financial year and 31 December 2010 1.4 33 REGENT BUSINESS SCHOOL (RBS) - JANUARY 2020 REGENT BUSINESS SCHOOL RAS JANUARY 2020 165 MERCE WALENDAR-DISTANCE BACHELOR OF COMMERCE YEAR I - ACADEMIC AND ASSESSMENT CALENDAR -DISTANCE Required: Show general journal entries to record the declaration of dividends on 30 November 2019 and the subsequent payment of dividends on 31 December 2010 Show dates on which the journal entries will be recorded. Include a brief narration (10) to the credit sales amount of R96 330. This entry has been posted correctly to the personal account of the debtor in the debtor's subsidiary ledger. 1.5 The wes journal was over-cast by R840. A credit sale of R340 was not posted to the personal account of the debtor in the debtors ledger account. The amount has been posted correctly to the sales account and the debtors control account in the general ledger A credit note for R140 was recorded correctly in the sales returns journal but posted to the wrong side of the debtor's personal account in the debtors subsidiary ledger 1.8 The debtors column in the cash receipts joumal includes an amount of R390 being a settlement discount received from a creditor QUESTION THREE Dean Stone operates a business, Stone Wear Style, for which the accounting records [20] include control accounts for debtors and a separate control account for creditors. Dean just promoted Charlie Bait to maintain records of the control accounts and to reconcile the lists and the control account balances. The following information relates to March 2019 DR Debtors control alc 201 R 201 R 9 Balance (correct) bu 31 340 9 Sales returns - Credit 1.3 Bank (debtors column) 90 900 313 Bank debtor 850 31.3 Discounts granted 1 370 refunds 67 602 Credit sales 96 330 Credit purchases 2016 Drawings 300 Cash purchases 550 Purchases returns 4262 Discounts received 7 000 credit Bank-creditors 141 174 column Balance old 224 592 224 592 1.4 Balance 141 174 19 The purchase journal was under-cast by R1 436 1.10 The Raso was refunded to a debtor because their account was overpaid. Required: 3.1 Prepare a property balanced debtors control account, corrected for errors that exist in the given account, and a properly balanced creditors control account for March 2019. NB. The additional information must also be taken in account. (16) Prepare the debtors reconciliation statement for March 2010 Additional information: 1.1 At 1 March 2019, the balance of the creditors control account was R16 600 QUESTION FOUR [25 Stan and Ben are in partnership, sharing profits and losses in the ratio of their capital ccount balances at the beginning of the financial yeow 1.2 There are errors in the above debtors control account that need to be corrected. There are items recorded that should not be reflected in the debtors control account. Some items are also on the wrong side of the account. On 30 June 2019, Stan deposited an additional R150 000 into the partnerships bank account. The introduction of Stan's capital has been correctly recorded 1.3 The total of the list of debtors balances at 31 March 2010 was R32 120 An amount of R230 written off as credit losses, has erroneously been added The following is an extract of relevant accounts from the trial balance at financial year and 31 December 2010 1.4 33 REGENT BUSINESS SCHOOL (RBS) - JANUARY 2020 REGENT BUSINESS SCHOOL RAS JANUARY 2020 165 MERCE