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FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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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