Date Transaction Mr Parker made an additional capital contribution, R20 000. This amount was deposited directly in the bank account of Brioche Furnishers. Paid the business rent via a debit order to Rental Boss, R9 500. Purchased inventory on credit from Delish Dealers and received their credit invoice no. DX5, R84 102. Purchased trading inventory from Hi Rise Traders and paid immediately by EFT (numbered 02/01), R17 110. Sold goods on credit to T Carole (a new customer) and issued credit invoice no. 8 IN901, R5 452. 9. Sold inventory for cash, R12 992. Cash invoice C003 was isSued to the customer. Issued receipt no. R102 to T Carole as payment on her account, R3 000. 11 Cash was drawn to pay biweekly wages, R7 539. 12 Cash sale according to the cash register roll, R23 345 (receipt no. R103). 16 Sold merchandise on credit to D Venter, R6 235, and issued credit invoice no. IN902. Purchased a microwave oven for the staff kitchen on Vat-a-lot, R2 999. This was 19 paid immediately by EFT (numbered 02/02). Bought inventory from Boss Bunks, R21 170. This was paid immediately via a 22 bank transfer (numbered 02/03) Sold inventory for cash, R25 230 (receipt no. R104). 23 Received a cash payment from T Carole as full settlement of her account. Issued receipt no. R105. This amount was deposited with the cash sales. Received a statement from Pretzel Enterprises. Settled the account with Pretzel 25 Enterprises by EFT, R31 500. 26 Cash was drawn to pay biweekly wages, R7 640. Sold inventory on credit to B Naan, R21 895. Issued invoice no. IN903. Bought a boardroom table for the office from Challah on credit for R35 250, as well as inventory for R4 955. Received their credit invoice 35698. The bank statement reflects the following credits: • Interest, R546. The bank statement reflects the following debits: • Bank charges, R86 28 Debit order for insurance, R650. Required: Record the transactions for February 2021 in the following subsidiary journals: 2.1. 22. Cash Receipts Journal Cash Payments Journal

Date Transaction Mr Parker made an additional capital contribution, R20 000. This amount was deposited directly in the bank account of Brioche Furnishers. Paid the business rent via a debit order to Rental Boss, R9 500. Purchased inventory on credit from Delish Dealers and received their credit invoice no. DX5, R84 102. Purchased trading inventory from Hi Rise Traders and paid immediately by EFT (numbered 02/01), R17 110. Sold goods on credit to T Carole (a new customer) and issued credit invoice no. 8 IN901, R5 452. 9. Sold inventory for cash, R12 992. Cash invoice C003 was isSued to the customer. Issued receipt no. R102 to T Carole as payment on her account, R3 000. 11 Cash was drawn to pay biweekly wages, R7 539. 12 Cash sale according to the cash register roll, R23 345 (receipt no. R103). 16 Sold merchandise on credit to D Venter, R6 235, and issued credit invoice no. IN902. Purchased a microwave oven for the staff kitchen on Vat-a-lot, R2 999. This was 19 paid immediately by EFT (numbered 02/02). Bought inventory from Boss Bunks, R21 170. This was paid immediately via a 22 bank transfer (numbered 02/03) Sold inventory for cash, R25 230 (receipt no. R104). 23 Received a cash payment from T Carole as full settlement of her account. Issued receipt no. R105. This amount was deposited with the cash sales. Received a statement from Pretzel Enterprises. Settled the account with Pretzel 25 Enterprises by EFT, R31 500. 26 Cash was drawn to pay biweekly wages, R7 640. Sold inventory on credit to B Naan, R21 895. Issued invoice no. IN903. Bought a boardroom table for the office from Challah on credit for R35 250, as well as inventory for R4 955. Received their credit invoice 35698. The bank statement reflects the following credits: • Interest, R546. The bank statement reflects the following debits: • Bank charges, R86 28 Debit order for insurance, R650. Required: Record the transactions for February 2021 in the following subsidiary journals: 2.1. 22. Cash Receipts Journal Cash Payments Journal

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 14DQ

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