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Fin Acc Assignment 1
Fin Acc Assignment 1
Fin Acc Assignment 1
Loghdey, MS
Lovell, EC
Ntsele, NHF
Songo, A
189019670
193060728
208105360
205117430
Lecturer: Mr E. Fongwa
Question 6,1(A)
1.
General ledger of Survivor Traders, 30 June x3
30/06/X3
Cost of
sales
Profit and
loss
Trading Account
R81 30/06/X
680,00 3
Sales
R118
420,00
R200
100,00
R200
100,00
R200
100,00
SALES 2037003600
CoS 12700045320
P&L 35000+2370+
920+2400+77730
2.
01/07/x2
1/12/x3
Bank
Bank
01/07/x3
Balance
b/d
Stationary on hand
Stationary
R300,00 30/06/x3 Expense
R1 020,00
Balance c/d
R1 320,00
R920,00
R400,00
R1 320,00
R400,00
3.
General Journal of Survivor Traders 30 June x3
31/3/x3 Bank
Interest Income
Interest of fixed deposit for past 6 months
30/6/x3 Accrued Income
Interest Income
Interest income not yet received for past 3
months
Rent expense
Debit
Credit
R500,00
R500,00
R250,00
R250,00
R2 400,00
2
R2 400,00
R600,00
R920,00
R600,00
R920,00
R920,00
R920,00
R2 400,00
R2 370,00
R2 400,00
R2 370,00
R35 000,00
Trading Account
Cost of sales
Close off sales account to profit and loss
R81 680,00
R35 000,00
R81 680,00
Sales
Trading Account
Close off sales income to trading account
R200 100
R118 420
Accumulated Profit
Drawings
R200 100
R118 420
R19 200,00
R19 200,00
3
R400
R750
Question6.2(B)
1.
General Journal of Kayser Stores 31 October X1
Debit
31/10/x
1
Consumable Stores
Credit
R3 770,00
R3 770,00
Advertising
R13 000,00
R13 000,00
R600,00
Accrued expense
R600,00
Depreciation
R5 500,00
R5 500,00
Subscription income
R2 600,00
R2 600,00
2.
General ledger of Keyser Stores 31 October X1
01/11/X0
1/12/x0
Balance b/d
Bank
01/11/X1
Balance b/d
R10 950,00
01/11/X0
1/12/x0
Balance b/d
Bank
01/11/X1
Balance b/d
R13
R10
R23
2.
R1 700,00
R13
R1
R14