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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Is this correct
Transcribed Image Text:The Cash Recelpts Journal was extracted from the books of Cynoh Traders.
Balances/totals in the General Ledger on 1 January 2021:
Capital R250 000:
Trading Stock R88 000:
Loan: CB Bank R150 000;
Sales R4 500:
Bank (Cr) R5 000:
Cost of Sales R1 500:
Commission income R2 000
REQUIRED
Post to the accounts in the General Ledger as provided on the Answer sheet.
Balance the Balance Sheet accounts ONLY,
Cash Receipts Journal of Cynoh Traders - January 2021
Doe No
CRJ3
Details
Fol Analysis of Bank
Receipts
Sales
Cost
of sales
Amount
80 000
40 000
Sundry accnunts
Details
Caoital
Fol
R01
R02
CRT1
CRT2
RO3
Cynoh
| CH Bank
3
80 C00
40 000
1 000
2 000
Toan Ca Bark
4
12
15
Sales
Sales
Amy Stores
1000
2 000
500
1 000
2 000
600
1 100
R03
500
Commission
income
CRT3
CRT4
Sales
21 Sales
Amy Stores
4 000
1 000
4 500
1 000
4 000
1 000
2 100
900
R04
29
Commission
120
120
income
Супoh
30 Sales
CB Bank
Cynoh
R05
CRT 5
B/S
5 000
5 120
5 000
Capital
3 000
3 000
1 800
50
3 050
50
Interest on
foxed deposit
136 670
11 000
125 670
ACTIVITY 2: ANSWER SHEET
GENERAL LEDGER OF CYNOH TRADERS
Balance Sheet Account Section
CAPITAL
DR
Jan 3 Bank
B1
CR
CRJ EO COo Jan
Balance
29 Bank
ICRJ, | 250 000
ICRJ. GO00
Feb Balarce cld
255 O00
Feb Balance bld
175C00
BANK
Jan 31 tal ieceipts CRJ 136 67o Jan
B3
Fel
Bailance
131670
136670
136 L70
Feb Balcnce bld
1316 10
13
ed
o Pau Traders Al ther producta are mated at 100% on cost
ps Joumal lor January 2021.
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