ACTIVITY 15

Peter Pan started a plumbing business, Peter Plumbers, on 1 March 2018. Record
the following transactions for March 2018:

REQUIRED:

15.1 Record the following transactions in the Cash Receipts Journal for March 2018.
Provide analysis columns for analysis of receipts, bank, current income and sundry
accounts. Close off the journal at the end of the month.

15.2 Record the following transactions in the Cash Payment Journal for March 2018.
Provide analysis column for Bank, equipment, wages, material costs and sundry
accounts. Close off the journal at the end of the month.

Transactions:

1 The owner, Peter Pan deposited R75 000 as capital contribution directly into the
business bank account. Issue receipt 001.

3 Issued cheque 001 to the City council for the trading licence, R4 300.

5 Bought the following from Blue traders and paid by cheque 002.

 Tools to do services, R10 400

 Material costs to do services, R3 800

7 Paid wages by electronic transfer, R1 450

9 Cash received for services rendered, R13 200

13 Paid LM Insurers R840 for the monthly insurance by electronic transfer.

14 Bought the following from green traders and paid by cheque 003.

 Computer and printer, R7 560

 Paper for the printer, R320

17 Paid the following by electronic transfer:

 Wages, R1 400
 Cash float, R400

19 Cash received for services rendered, R15 690

22 Paid SA properties by electronic transfer for the rent of the building, R6 700

25 Paid Telkom R2 230 for the telephone account by electronic transfer.

27 The owner took R2 500 from the business for personal use.
 30 Cash received for services rendered, R9 200.

Cash Receipts Journal of Peter Plumbers – March 2018

Doc Day Details Fol Analysis of Bank Current Sundry accounts

receipts income Amount Fol Details

Cash Payment Journal of Peter Plumbers – March 2018

Doc Day Name Fol Bank Equipment Wages Material Sundry accounts
of costs Amount F Details
payee