Debtors Journal of Olympia Sport and Trade for August 2020 DJ 8

Doc
No Day Debtors Fol Sales Cost of sales
24 3 R. Fish 1 800 - 900 -
25 11 G. Naude 2 400 - 1 200 -
26 17 M. Ndaka 3 800 - 1 900 -
27 23 G Naude 1 480 - 740 -
9 480 - 4 740 -
B9/N1 B6/N2

Cash Receipts Journal of Olympia Sport and Trade for August 2020 CRJ 8
Da Analysis Cost of Debtors Sundry account
Doc No y Details Fol of receipts Bank Sales sales control Amount Fol Details
-
R43 1 Mark Verster 8 000 - 8 000 B1 Capital
R44 8 G. Naude 2 800 - 2 800 -
CRR28 Sales 18 400 - 21 200 - 18 400 - 9 200 -
-
R45 14 M. Naledi 5 000 - 5 000 N4 Rent income
CRR29 Sales 24 200 - 29 200 - 24 200 - 12 100 -
R46 18 M. Ndaka 1 400 - 1 400 - 1 400 -
R47 22 R Fish 1 000 - 1 000
CRR30 Sales 28 600 - 29 600 - 28 600 - 14 300
-
89 400 - 71 200 - 35 600 - 5 200 - 13 000
B8 N1 B6/N2 B9
Cash Payments Journal of Olympia Sport and Trade for August 2020 CPJ 8
Doc Trading Creditors Sundry accounts
no Day Name of payee Fol Bank inventory Wages control Amount Fol Details
88 2 Dumela Distributors 6 900 - 6 900 -
89 4 King Traders 3 800 - 3 800 -
90 6 SN Insurers 960 - 960 - N6 Insurance
91 9 Sony Motors 4 100 - 4 100 - B2 Drawings
92 13 Cash 1 900 - 1 700 - 200 - B9 Cash float
93 14 Telkom 2 100 - 2 100 - N8 Telephone
94 16 Petunia Stores 5 400 - 5 400 -
95 18 SN Stationers 340 - 340 - N5 Stationery
96 20 Remo Traders 15 800 - 15 800 - B4 Equipment
97 24 KG Traders 4 800 - 4 800 -
46 100 - 3 800 - 1 700 - 17 100 - 23 500 -
B8 B6 N4 B10

Creditors Journal of Olympia Sport and Trade for August 2020 CJ 8

Doc Creditors Trading Sundry accounts

No Day Creditors Fol control inventory Stationery Amount Fol Details
28 6 KG Traders 10 800 - 10 800 -
29 11 Dumela Distributors 11 400 - 11 400 - B4 Equipment
30 14 Petunia Stores 3 200 - 1 800 - 1 400 - N9 Packing material
31 28 KG Traders 5 760 - 5 760 -
31 160 - 16 560 - 1 800 - 12 800 -
B10 B6 N5
2. Some of the Ledger accounts are already completed. Complete the rest of the
General ledger accounts. Balance the accounts at the end of the month.

Balances in the General ledger on 1 August 2020:

Capital, R602 000; Drawings, R6 400; Land and buildings, R280 000; Equipment,
R78 000; Vehicles, R192 000; Trading stock, R38 600; Bank, R43 200; Cash float,
R500; Debtors control, R6 400; Creditors control, R23 800; Sales, R72 400; Cost of
sales, R36 200; Debtors allowances, R2 800; Rent income, R10 000; Wages, R6 800;
Stationery, R3 400; Insurance, R4 200; Water and electricity, R5 300; Telephone,
R2 800 and Packing material, R1 600.

General Ledger of Olympia Sport and Trade

Balance Sheet accounts Section

Dr Capital B1 Cr
Aug 1 Balance b/d 602 000
Bank CRJ 8 000
610 000

Dr Drawings B2 Cr
Mar 1 Balance b/d 6 400
9 Bank CPJ 4 100
10 500

Dr Land and Buildings B3 Cr

Mar 1 Balance b/d 280 000

Dr Equipment B4 Cr
Aug 1 Balance b/d 78 000
Creditors
11 CJ 11 400
control
20 Bank CPJ 15 800

104
Se 1 Balance b/d
560

Dr Vehicles B5 Cr
Mar 1 Balance b/d 192 000

Dr Trading stock B6 Cr
Aug 31 Cost of CRJ 35 600
Aug 1 Balance b/d 38 600
sales
 Cost of DJ 4 740
31 Bank CPJ 3 800
sales
Creditors
CJ 16 560
control

Dr Debtors control B7 Cr
Aug 1 Balance b/d 6 400 Aug 31 Bank CRJ 5 200
31 Sales DJ 9 480
Balance c/d 10 680
15 880 15 880
Sep 1 Balance b/d 10 680

Dr Bank B8 Cr
Au 31 Total CPJ 46 100
Au 1 Balance b/d 43 200
payments
31 Total receipts CRJ 89 400 Balance c/d 86 500
132 600 132 600
Se 1 Balance b/d 86 500

Dr Cash float B9 Cr
Aug 1 Balance b/d 500
13 Bank CPJ 200
700

Dr Creditors control B10 Cr

Aug 31 Bank CPJ 17 100 Aug 1 Balance b/d 23 800
31 Total CJ 31 160
purchases
Balance c/d 37 860
54 960 54 960
Sep 1 Balance b/d 37 860

NOMINAL ACCOUNTS SECTION

Dr Sales N1 Cr
Aug 1 Balance b/d 72 400
31 Bank CRJ 71 200
Debtors DJ 9 480
control
153 080

Dr Cost of sales N2 Cr
Aug 1 Balance b/d 36 200
31 Trading stock CRJ 35 600
Trading stock DJ 4 740
76 540
Se 1 Balance b/d 76 205

Dr Rent income N4 Cr
Mar 1 Balance b/d 10 000
14 Bank CRJ 5 000
15 000

Dr Wages N5 Cr
Mar 1 Balance b/d 6 800
31 Bank CPJ 1 700
8 500

Dr Stationery N6 Cr
Aug 1 Balance b/d 3 400
18 Bank CPJ 340
Creditors
31 CJ 1 800
control

Sep 1 Balance b/d 5 540

Dr Insurance N7 Cr
Mar 1 Balance b/d 4 200
6 Bank CPJ 960
5 160

Dr Water and electricity N8 Cr

Mar 1 Balance b/d 5 300

Dr Packing material N10 Cr

Mar 1 Balance b/d 1 600
Creditors
14 CJ 1 400
control
3 000
3. Post the previous completed journals to the debtor R. Fish in the Debtors’
ledger and prepare a debtors’ list.

Debtors list on 1 August 2020 Creditors list on 1 August 2020

G Naude, R2 800 Petunia Stores, R8 300
R Fish, R1 400 KG Traders, R6 400
M Ndaka, R2 200 Dumela Distributors, R9 100

Debtors Ledger of Olympia Sport and Trade

Month Day Details Fol Debit Credit Balance

G. Naude D1
Aug 1 Account rendered 2 800 -
8 Receipt 44 CRJ 2 800 - -
11 Invoice 25 DJ 2 400 - 2 400 -
23 Invoice 27 DJ 1 480 - 3 880 -
R. Fish D2
Aug 1 Account rendered 1 400
3 Invoice 24 DJ 1 800 - 3 200
22 Receipt 46 CRJ 1 000 - 2 100

M. Ndaka D3
Aug 1 Account rendered 2 200 -
17 Invoice 26 DJ 3 800 - 6 000 -
18 Receipt 46 CRJ 1 400 - 4 600 -

Debtors’ list
Debtor Fol Debit
G. Naude D1 3 880 -
R. Fish D2 2 100
M. Ndaka D3 4 600 -