FAC 1502 Journals and Debtors control Journals Sales

FAC 1502 Journals and Debtors control

Journals Sales Journal - Jan 20. 2 Invoice Date Details Fol Sales R 245774 30 SA Meshesha 750. 00 VAT Output Debtors R R 105. 00 855. 00

Journals Sales Journal - Jan 20. 2 Invoice Date Details Fol Sales R 245774 30 SA Meshesha 750. 00 VAT Output Debtors R R 105. 00 855. 00 Ledger accounts SA Meshesha Date Invoice 2 245774 Details Sales (Prescribed Book) R 855. 00 Date Detail R

Exercise Journals Sales Journal - May 20. 2 Date Details Fol Sales VAT Output Debtors R R R 2 A DL 1 200. 00 220. 00 B DL 2 400. 00 440. 00 C DL 3 100. 00 110. 00 70. 00 770. 00 GL 5 Sales Returns Journal - May 20. 2 Date Details Fol Sales R 8 VAT Output Debtors R R B DL 2 40. 00 44. 00 C DL 3 20. 00 22. 00 60. 00 66. 00 GL 5

Exercise Journals Cash Receipts Journal - May 20. 2 Date Details Fol Bank R 15 Debtors Settlement Discount granted VAT Input R R R A DL 1 600. 00 670. 00 64. 00 *6. 00 B DL 2 400. 00 C DL 3 500. 00 522. 00 20. 00 2. 00 1 500. 00 1 592. 00 84. 00 8. 00 GL 5 * Approximation

Exercise Journals General Journal - May 20. 2 Date Details Fol Total Debit 15 C DL 3 Furniture VAT Input C Received furniture back from C Credit 803. 00 Furniture VAT Output Sold furniture on credit to C 18 Debtors control Debit Credit 803. 00 730. 00 73. 00 DL 3 230. 00 23. 00 253. 00 1056. 00 253. 00 803. 00 253. 00 GL 3 Creditors control Dr Cr

Exercise Journals �Required: � 1 Prepare the debtors control account in the general ledger. � 2 Prepare the ledger accounts of the three debtors in the debtors ledger. �* List of opening balances of debtors: �A R 450. 00 �B R 680. 00 �C R 220. 00 �R 1 350. 00

Exercise Journals Sales Journal - May 20. 2 Date Details Fol Sales VAT Output Debtors R R R 2 A DL 1 200. 00 220. 00 B DL 2 400. 00 440. 00 C DL 3 100. 00 110. 00 70. 00 770. 00 GL 5 Sales Returns Journal - May 20. 2 Date Details Fol Sales R 8 VAT Output Debtors R R B DL 2 40. 00 44. 00 C DL 3 20. 00 22. 00 60. 00 66. 00 GL 5

Solution Journals Ledger accounts Dr Debtors control Date Detail Fol May 1 Balance * b/d 31 Sales SJ 1 Sundry journal debits J 1 R Balance ** b/d Detail 1 350. 00 May 31 Sales returns 770. 00 803. 00 2 923. 00 Jun 1 Date GL 5 Cr 1012. 00 Bank and discount Fol R SRJ 1 66. 00 CRJ 1 1 592. 00 Sundry journal credits J 1 253. 00 Balance c/d 1 012. 00 2 923. 00

Exercise Journals Cash Receipts Journal - May 20. 2 Date Details Fol Bank R 15 Debtors Settlement Discount granted VAT Input R R R A DL 1 600. 00 670. 00 64. 00 *6. 00 B DL 2 400. 00 C DL 3 500. 00 522. 00 20. 00 2. 00 1 500. 00 1 592. 00 84. 00 8. 00 GL 5 * Approximation

Solution Journals Ledger accounts Dr Debtors control Date Detail Fol May 1 Balance * b/d 31 Sales SJ 1 Sundry journal debits J 1 R Balance ** b/d Detail 1 350. 00 May 31 Sales returns 770. 00 803. 00 2 923. 00 Jun 1 Date GL 5 Cr 1012. 00 Bank and discount Fol R SRJ 1 66. 00 CRJ 1 1 592. 00 Sundry journal credits J 1 253. 00 Balance c/d 1 012. 00 2 923. 00

Exercise Journals General Journal - May 20. 2 Date Details Fol Total Debit 15 C DL 3 Furniture VAT Input C Received furniture back from C Credit 803. 00 Furniture VAT Output Sold furniture on credit to C 18 Debtors control Debit Credit 803. 00 730. 00 73. 00 DL 3 230. 00 23. 00 253. 00 1056. 00 253. 00 803. 00 253. 00 GL 3 Creditors control Dr Cr

Solution Journals Ledger accounts Dr Debtors control Date Detail Fol May 1 Balance * b/d 31 Sales SJ 1 Sundry journal debits J 1 R Balance ** b/d Detail 1 350. 00 May 31 Sales returns 770. 00 803. 00 2 923. 00 Jun 1 Date GL 5 Cr 1012. 00 Bank and discount Fol R SRJ 1 66. 00 CRJ 1 1 592. 00 Sundry journal credits J 1 253. 00 Balance c/d 1 012. 00 2 923. 00

Solution Journals Ledger accounts Dr Debtors control Date Detail Fol May 1 Balance * b/d 31 Sales SJ 1 Sundry journal debits J 1 R Balance ** b/d Detail 1 350. 00 May 31 Sales returns 770. 00 803. 00 2 923. 00 Jun 1 Date GL 5 Cr 1012. 00 Bank and discount Fol R SRJ 1 66. 00 CRJ 1 1 592. 00 Sundry journal credits J 1 253. 00 Balance c/d 1 012. 00 2 923. 00

Solution Journals Debtors Ledger accounts Dr A Date May 1 2 Detail Balance * Sales Fol b/d SJ 1 R DL 1 Cr Date Detail 450. 00 May 15 Bank and discount Fol CRJ 1 Dr May 1 2 Fol R DL 2 Cr Date Detail Fol R Balance * b/d 680. 00 May 8 Sales returns SRJ 1 44. 00 Sales SJ 1 440. 00 15 Bank CRJ 1 400. 00 31 Balance c/d 676. 00 1 120. 00 Jun 1 670. 00 B Detail 670. 00 220. 00 670. 00 Date R Balance ** b/d 676. 00 1 120. 00

Solution Journals Debtors Ledger accounts Dr C Date May 1 2 Detail Fol R Date Detail Fol R Balance * b/d 220. 00 May 8 Sales returns SRJ 1 22. 00 Sales SJ 1 110. 00 Bank and discount CRJ 1 522. 00 18 Furniture J 1 253. 00 31 Balance 1 133. 00 Jun 1 DL 3 Cr Balance ** b/d 336. 00 * List of closing balances of debtors: A R B R 676. 00 C R 336. 00 R 1 012. 00 15 c/d 336. 00 1 133. 00

Solution Journals Debtors Ledger accounts Dr C Date May 1 2 Detail Fol R Date Detail Fol R Balance * b/d 220. 00 May 8 Sales returns SRJ 1 22. 00 Sales SJ 1 110. 00 Bank and discount CRJ 1 522. 00 18 Furniture J 1 253. 00 31 Balance 1 133. 00 Jun 1 DL 3 Cr Balance ** b/d 336. 00 * List of closing balances of debtors: A R B R 676. 00 C R 336. 00 R 1 012. 00 15 c/d 336. 00 1 133. 00

Solution Journals Ledger accounts Dr Debtors control Date Detail Fol May 1 Balance * b/d 31 Sales SJ 1 Sundry journal debits J 1 R Balance ** b/d Detail 1 350. 00 May 31 Sales returns 770. 00 803. 00 2 923. 00 Jun 1 Date GL 5 Cr 1012. 00 Bank and discount Fol R SRJ 1 66. 00 CRJ 1 1 592. 00 Sundry journal credits J 1 253. 00 Balance c/d 1 012. 00 2 923. 00