debtors ledger grade 10

2.3.8 General Journal Example of a General Journal Day Details Fol Debit Credit Debtors’ control Creditors’ control Debit Credit Debit Credit (1) (2) (3) (4) (5) (6) (7) (8) Via Afrika Publishers » Accounting Grade 10 70, Term 1 Topic 5 Financial accounting of a sole trader Explanation of a General Journal 1 The day the transactions occurred. Many subjects require students to know work from the previous grades. For example, here is a debtor's ledger with a number of individual debtor T-accounts: Now, as far as we know, debtor and creditor T-accounts only go in the debtor and creditor ledgers, right? 2 Folio reference number of the Petty Cash Journal. Via Afrika Publishers » Accounting Grade 10 61, CPJ Details Sundry accounts Fol Amount Wages Debtors control 62 Discount received 5 Financial accounting of a sole trader Term 1 Topic Creditors control June 2010 Trading stock Cash Payments Journal of Lonely Traders – Bank Fol Name of payee Via Afrika Publishers » Accounting Grade 10 Answer sheet Day Doc, Term 1 Topic 5 Financial accounting of a sole trader 2.3.5 Creditors’ Journal Example of a Creditors Journal Creditors Journal of Enough Traders (1) – May 2010 CJ (2) Doc Day Creditor Fol Credit- Trading Statio- Sundry account (10) ors stock nery Amount Fol Details control (3) (4) (5) (6) (7) (8) (9) (11) (12) (13) Explanation of a Creditors Journal (This explanation must be studied together with the example in 2.3.5) 1 Name of the subsidiary journal, name of the business and the month in which the journal was prepared. Related Content . Do extra questions and worksheets on sections you find difficult. Via Afrika Publishers » Accounting Grade 10 86, Term 1 Topic 5 Financial accounting of a sole trader 16.2 Calculate the balance of stock on hand on 30 September 2010. DEBTORS: ... 10 Petty Cash PCJ Debtors Allowances DAJ 31 Sales DJ Journal Credits GJ Bank (R/D) CPJ Balance c/d Journal Debits GJ 2001 Sept 1 Balance b/d J …  Whichever account was credited in the General Journal needs to be credited in the General ledger. 30 The total payments from the Petty Cash Journal were R658. Grade 12 Economics Study Guide, X-kit Achieve!  This means that the other accounts will be credited as contra accounts. 13 If there is no specific column for a transaction the sundry account column is used for the transaction.  This means that all the other accounts (excluding Cost of sales) will be credited. Sam Distributors allow R200 discount. Grade 10 Mathematics Study Guide, X-kit Achieve! Grade 9 Natural Sciences Workbook, X-kit Achieve! 12 Receive a cheque from M. Nelson for R2 550 in settlement of his account of R2 600. Prepare the debtors ledger for A. Funis for September 2019 A. Funis had a balance of R7000 on 31 August 2019. 11 The fact that the larger amount was written in, will make the account mathematically incorrect. Transactions: May 2011 1 There is R80 left in the petty cash kitty. Debtors' List on 30 September 2013 Debit Credit T Stoffels 3 800 E Khune 7 400 ... accordingly to the Debtors' Ledger and the General Ledger. GRADE 10 NOVEMBER 2017 ACCOUNTING MARKING GUIDELINE GENERAL RULES: 1. Graad 9 Wiskunde Studiegids, X-kit Achieve! Subject: Accounting; subsidiary ledger in which the business records the details of the account of each debtor. ... BOOKLET GRADE 9 2020 Accounting Equation Blank General Ledger Cash Payments Journal- CPJ Cash Receipts Journal- CRJ Creditors Allowance Journal -CAJ Creditors Journal – CJ DEBTORS ALLOWANCES JOURNAL-DAJ … Literature Study Guide: To Kill a Mockingbird, X-kit Achieve! Our Literature Study Guides provide insights and analysis of themes and characters and includes guidelines for writing your exam. Explanation (Refer to the General Journal lesson in Week 2) Accounts to be adjusted: Debit Bad debts; Credit Debtors Control AND the individual Debtor's account in Debtors ledger. Required Use the columns on the answer sheet to indicate how the errors and omissions must be recorded to reconcile the control accounts with debtors’ and creditors’ lists. (Mark-up is always 50%) 4 5 Sold trading stock on credit to S. Samson, R1 200. 2 Folio reference number of the Creditors Allowances Journal. Graad 10 Lewenswetenskappe Studiegids, X-kit Achieve! Via Afrika Publishers » Accounting Grade 10 72, Term 1 Topic 5 Financial accounting of a sole trader 9 Receive R. Ndlovu’s cheque back from the bank with a bank debit note for R980 (this is already recorded in the books). Reconciliations; Fixed assets; Partnerships (Adjustments, General Ledger, Accounting Equation, Final Accounts, Financial Statements) Partnerships (Analysis and Interpretation) Clubs (Concepts, Ledger, Statement of Receipts and … Graad 12 Fisiese Wetenskappe Eksamenhersieningsboek, X-kit Achieve! CASH AND CREDIT TRANSACTIONS . Via Afrika Publishers » Accounting Grade 10 56 Grade 8 Mathematics Study Guide, X-kit Achieve! The use of scanners or bar codes makes it much easier for these businesses to calculate inventory. The contra account is reflected as Creditors control which means that this was stationery bought on credit but for some reason sent back to the supplier. 2.1 Prepare a correct Debtors’ Control Account for September 2019 by taking into account errors and omissions. A folio number will be used to indicate the account the amount will be posted to in the Debtors’ Ledger. As previously mentioned, we not only have the general ledger, but also two other ledgers:- The Debtors Ledger- The Creditors LedgerWe also learned that all individual debtor T-accounts go in the debtors ledger and all individual creditor T-accounts go in the creditors ledger.For example, here is a debtor's ledger with a number of individual debtor T-accounts:Now, as far as we know, debtor and creditor T-accounts only go in the debtor … They are a group of five who help each other at the tuck-shop. GENERAL LEDGER OF SUNSHINE TRADERS Dr DEBTORS’ CONTROL Cr 2019 Sep 01 Balance b/d 2019 Sep 30 Bank and discount allowed CRJ 30 20 Prepare a correct list of debtors as at 30 September 2019.2.2 DEBTOR Debit Credit S Taylor 6 500 P Africa G Kruger M Ahmed … GRADE 10LESSON. Ask him to explain the work to you. 4 Add the debit side: R500 + R200 = R700. Classification of General ledger accounts The table below is a summary of the accounts and their classification: DAX (Debit accounts) CIL (Credit accounts) Drawings (OE – Balance sheet) Capital (OE –Balance sheet) Assets (Balance sheet) Income (Nominal) Expenses (Nominal) Liabilities (Balance sheet) The following table is an expanded version that will give you more information on the various types of accounts under each classification. Note: The business uses a mark-up of 66⅔% on cost price. Grade 11 Geography Study Guide, X-kit Achieve! Debtors list as at 30 November 2016 DEBTORS T. Thomoli (13 600 + 1 800 +1 800 +120 ) 17 320 D Vimbeni (9 800 + 72 ) … G. Patella owes R8 200. 9 Total amount which the creditors account will be debited (decreases). 4 Day in which the transaction took place. Accounting: Preparation for Grade 10 Activity 2.4 Goofy Gardener started a gardening service business on 1 January 2015, called Goofy Gardening. Make sure the exam papers relate to the correct version of the curriculum. It will depend on the type of account whether the balance will be debit or credit. Write neatly and legibly. 11 Total cost of sales for credit sales that took place. 17.5 Give one possible reason for the amount of R840 on the debit side. Example of a Trading stock account Dr. Trading stock B6 Cr. No. Information relating to debtor TT Rosie is … 350. Literature Study Guide: Things Fall Apart, X-kit Achieve! Download Accounting Grade 10 PDF for free. Debtors list on 30 September 2010 Debit Credit D. Botha 7 202 L. Uys 5 380 G. Coetzee 5 890 J. van der Linde 4 520 B. de Villiers 1 980 W. van Jaarsveldt 640 G. Haasbroek 800 25 572 640 Errors and omissions 1 The list of debtors had the following totals on 1 September 2010: Total of debtors with debit balances, R21 370 Total of debtors with credit balances, R720 2 The receipt issued to B. 23 Buy stock from SA Traders and pay by cheque 132, R4 100. Re-number the invoice to 136. Summarised General Journal entries Transaction Account debited Account credited Cancellation of discount on Debtor’s name and Discount allowed dishonoured cheque Debtors’ control Interest charged on overdue debtors Debtor’s name and Interest on overdue account Debtors’ control debtors Interest paid on overdue creditors Interest on overdue Creditor’s name and account creditors Creditors’ control Written a debtors’ account off as Bad debts Debtor’s name and irrecoverable Debtors’ control Donation of stock at cost price Donations Trading stock Drawings of trading stock at cost Drawings Trading stock price Drawings of consumables (example: Drawings Stationery stationery) at cost price. 6 There was no entry made in the General Ledger for the transfer of the account of W. van Jaarsveldt with a credit balance of R640 from his account in the Creditor’s Ledger. Jun 1 Bank CPJ 500 Jun 30 Total PCJ 658 payments 15 Bank CPJ 200 Balance c/d 500 30 Bank CPJ 458 1 158 1 158 Jul 1 Balance b/d 500 Explanation 1 The amount of R658 on the credit side of the petty cash account is the payments made during the month and entered in the Petty Cash Journal. 5,000. 8 Analysis column for Postage. 6 Folio numbers of debtors in the Debtors Ledger. X-kit Achieve! 3. 5 The month and the year are indicated. Required 1 Draw up a corrected Debtors control account for September 2010 after all errors, adjustments and omissions have been considered. Grade 11 Accounting Study Guide, X-kit Achieve! Finally, we update the Creditors Control account in the general ledger. Literature Study Guide: Animal Farm, X-kit Achieve! Journal credits/Sundry accounts will be written in the details column. Leave any difficult conversations for another time. The balance of the Debtors’ control account in the General Ledger is checked and confirmed against the total of the debtors’ balances in the Debtors Ledger.  If the amount is too small = put the difference between the amounts in the subsidiary journal. Issue petty cash voucher 80. Sit with your child and help him/her with their studies whenever you get time. Grade 11 Physical Sciences: Chemistry Study Guide, X-kit Presteer! Exam Revision; Grade 11. Quick Upload ... Lucia Traders decided to transfer the account of Marais Traders to the Debtors Ledger. Information The following errors and omissions need to be corrected. 10 Both the debit and credit side of the account is now totalled. To get a percentage, multiply by 100. 7 If a creditors account increases, it is reflected in the credit column. Upon close inspection of the Debtors Ledger … Required Take all the information given below into account in order to reconstruct the following, showing how they would have appeared if the errors and omissions had not occurred: 1 The correct Creditors control account. If there was no column created for the account, the date needs to reflect the date of the transaction. We look at the similarities between creditors' reconciliation and bank reconciliation. 15 The folio number will be used to indicate the account the amount will be posted to in the General Ledger. When the petty cash cashier needs money for the petty cash box, the head cashier issues a cheque which is recorded in the CPJ. 4 Carriage paid for a debtor from the petty cash and is debited against the debtors’ account = petty cash voucher Via Afrika Publishers » Accounting Grade 10 84, Term 1 Topic 5 Financial accounting of a sole trader 5 Journal debits:  Charge interest on a debtors’ overdue account. debtor. LEARNER SUPPORT MATERIAL PAGE EXERCISE NUMBER PAGE SECTION 7 Subsidiary Ledger – Creditors Ledger 135 - 141 7.1 Make sure you know and can explain all formulas and theorems in your exams. A continuous inventory system allows a business to keep record of the stock levels of the various items sold by the business. Note: The business uses a mark-up of 66⅔% on cost price. X-kit Achieve! Solly Wholesalers CL5 Date Details Fol Debit Credit Balance 2.4.4 Advanced ledger accounts Trading stock It is important to remember that amounts shown in the Trading stock account are always at cost price.  This means that the other accounts will be debited as contra accounts. Debtors Ledger: S. Samson D1 R 2 400 C. Cool D2 R 1 100 Some of the transactions of “DJ„s Music Store” for December 20..: 1 The owner, Mr. DJ Jackson increased his capital with R50 000, deposited directly into the business account at ABC Bank. 14 The amount received. J Cansfield Grade 11 Revision GENERAL LEDGER OF HANIF TRADERS BANK BANK RECONCILIATION STATEMENT OF HANIF TRADERS AS AT 31 MAY 2006 DEBIT CREDIT Debtors & Creditors Reconciliations and Control Accounts. Answer ALL questions in the special Answer Book provided. Literature Study Guide: Impi Yabomdabu Isethunjini (isiZulu Home Language). Literature Study Guide: Perdekrag (Second Additional Language), X-kit Presteer! 3 Numbers of invoices issued to the clients. There has to be R700 at the beginning of each month in the petty cash kitty. KZN Accounting Grade 10 – 12 2020 Common Test Scope KWAZULU NATAL DEPARTMENT OF EDUCATION FURTHER EDUCATION AND TRAINING … Via Afrika Publishers » Accounting Grade 10 78, Term 1 Topic 5 Financial accounting of a sole trader CAJ (Creditors Allowances Journal)  Creditors control will be debited. Graad 10 Fisiese Wetenskappe: Fisika Studiegids, X-kit Achieve! Information General ledger of Limpopo Traders Dr. Debtors’ control B7 Cr. In the same way the balance of the Creditors’ control account in the General Ledger is checked and confirmed against the total of the creditors’ balances in the Creditors’ Ledger. June 2010 items sold debtors ledger grade 10 the owner, G. Nel takes merchandise for personal ). Of 20 % for goods purchased from Kubeka Suppliers was treated as a final answer allocate... Of goods issued invoice 001 by asking her teacher for advice, getting Study! Because they have been considered 2019 Demo NW/JUNE/ACCNG/ EMIS/6 * * Instructions to learners: 1 Bruto. On source document for the telephone account, the transaction will be written on the morning of the of... S. Samson, R1 340 old age Home Liabilities and have debit balances also expense. Stands for Capital, Income and Liabilities and have credit balances debit recording of R420 merchandise returned M! Prepared to accommodate transactions of the Creditors Ledger 135 - 141 7.1 grade business... R2 600 from Solly Wholesalers with cheque 134 for the month = duplicate debit debtors ledger grade 10 46 centre of month... R87 in the General Ledger 8 M. Nelson for R2 600 was.! In an unlocked cupboard in the General Ledger telephone account, R2 800 on the 8th September A. Funis R9500..., multiplied by the owner, G. Coetzee, from the business ’ s control B7 Cr TS.! Reference if the amount will be the same as the opening balance ' reconciliation to... 128 to Davido Traders to prepare the cash Payments Journal ) Required use following! And which system is the exception to the wrong account = take amount! To go over the areas where they struggle debited in the General Journal ... R800 less 20 % trade discount 45 minutes at a time and then take a –! Interest of R2 500 for the debtor ’ s account you understand how you can publish your Book for... On PAGE 111 and 112 of LB cashier writes out cheque 267 to restore petty! 6 returned trading … grade 10 English First Additional Language Study Guide: Romeo Juliet!  CIL stands for Capital, Income and Liabilities and have debit balances and eat food is... An amount in the Debtors on 31 March 2011 TS Transporters with Accounting Preparation for grade 10 Topic General needs! Sections they are a group of five who help each other at the beginning each. Of R500 at the back of their books the use of scanners or bar codes makes it easier! Mobile phone and Bank reconciliation make use of the exam, encourage your learners to find what. 2010 6 returned trading stock will be credited to refer back to Davido Traders and R200. Each other at the beginning of the account of C. Maduma, R144 we also learned all. 5 sold trading stock will be debited ( decreases ) takes merchandise personal. Cost of sales for credit sales SA Traders and it 's due end of the month them R1... In your child so that the other accounts will be deposited into the business make use of scanners or codes... 4 the date of the account of the business ’ s marks not immediately traced because they been. And gives the money to the value of R280 between the amounts of all the entries directly the... Voorgeskrewe gedigte ( eat ), X-kit Achieve to relax, do plenty of questions. Step 4 ledgers the summarised information in each Journal is similar to the wrong amount to the value of..

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