How often Journals & posting to the ledger is asked

Where it was asked

What costs marks here

The questions

1. May/Jun 2015, Q2.18.5 marks

   Sanamuva Distributors, a business registered as a VAT vendor, recorded the following transactions during May 2015. VAT is levied at 14% and is already included in all amounts given where applicable, and the entity applies the periodic inventory system. On 1 May, duplicate receipt number 25 for R50 000 was banked, being an increase in the capital contributed by the owner, Mr Samuva; on the same day cheque counterfoil number 110 for R3 990 was issued to Ingwe Properties for the monthly rent. On 7 May, duplicate cash invoice number 304 recorded goods sold to Road Construct for R41 952. On 10 May, internet payment slip IN204 for R45 200 was processed, made up of a R15 000 salary paid to Mrs Chip and R30 200 paid to creditor Mr P Doors. On 15 May, cheque counterfoil number 111 for R1 500 was issued to establish the petty cash float. On 20 May, cash register roll number 126 reflected total cash sales of R39 900. On 28 May, original invoice IP288 was received from Tools Traders for inventory purchased, amounting to R30 267 after a cash discount had already been deducted. Additionally, on 30 May Mr C Carpenter, a debtor, was declared insolvent; his outstanding balance at the end of April 2015 had been R6 179, of which he paid R3 500 (per duplicate receipt number 26) on 30 May, with the remaining balance to be written off as irrecoverable. Using the suggested column headings of Day, Details, Bank, Sales, Debtors control, VAT Output, and Sundry accounts (Amount and Details), prepare the Cash Receipts Journal (CRJ5) of Sanamuva Distributors for May 2015 based on the transactions described. Do not close off the journal at the end of the month.

2. May/Jun 2015, Q2.211 marks

   Sanamuva Distributors, a business registered as a VAT vendor, recorded the following transactions during May 2015. VAT is levied at 14% and is already included in all amounts given where applicable, and the entity applies the periodic inventory system. On 1 May, duplicate receipt number 25 for R50 000 was banked, being an increase in the capital contributed by the owner, Mr Samuva; on the same day cheque counterfoil number 110 for R3 990 was issued to Ingwe Properties for the monthly rent. On 7 May, duplicate cash invoice number 304 recorded goods sold to Road Construct for R41 952. On 10 May, internet payment slip IN204 for R45 200 was processed, made up of a R15 000 salary paid to Mrs Chip and R30 200 paid to creditor Mr P Doors. On 15 May, cheque counterfoil number 111 for R1 500 was issued to establish the petty cash float. On 20 May, cash register roll number 126 reflected total cash sales of R39 900. On 28 May, original invoice IP288 was received from Tools Traders for inventory purchased, amounting to R30 267 after a cash discount had already been deducted. Additionally, on 30 May Mr C Carpenter, a debtor, was declared insolvent; his outstanding balance at the end of April 2015 had been R6 179, of which he paid R3 500 (per duplicate receipt number 26) on 30 May, with the remaining balance to be written off as irrecoverable. Using the suggested column headings of Day, Details, Bank, Purchases, Creditors control, VAT Input, and Sundry accounts (Amount and Details), prepare the Cash Payments Journal (CPJ5) of Sanamuva Distributors for May 2015 based on the transactions described. Do not close off the journal at the end of the month.

3. May/Jun 2015, Q2.34.5 marks

   Sanamuva Distributors, a business registered as a VAT vendor, recorded the following transactions during May 2015. VAT is levied at 14% and is already included in all amounts given where applicable, and the entity applies the periodic inventory system. On 1 May, duplicate receipt number 25 for R50 000 was banked, being an increase in the capital contributed by the owner, Mr Samuva; on the same day cheque counterfoil number 110 for R3 990 was issued to Ingwe Properties for the monthly rent. On 7 May, duplicate cash invoice number 304 recorded goods sold to Road Construct for R41 952. On 10 May, internet payment slip IN204 for R45 200 was processed, made up of a R15 000 salary paid to Mrs Chip and R30 200 paid to creditor Mr P Doors. On 15 May, cheque counterfoil number 111 for R1 500 was issued to establish the petty cash float. On 20 May, cash register roll number 126 reflected total cash sales of R39 900. On 28 May, original invoice IP288 was received from Tools Traders for inventory purchased, amounting to R30 267 after a cash discount had already been deducted. Additionally, on 30 May Mr C Carpenter, a debtor, was declared insolvent; his outstanding balance at the end of April 2015 had been R6 179, of which he paid R3 500 (per duplicate receipt number 26) on 30 May, with the remaining balance to be written off as irrecoverable. Prepare the General Journal of Sanamuva Distributors for May 2015 to record any transactions from the information given that are not processed through the cash receipts or cash payments journals. Narrations are not required.

4. Oct/Nov 2014, Q3(a)19 marks

   Appliances Stores is a trading entity registered as a VAT vendor, with the applicable VAT rate at 14%. All of the entity's suppliers are also registered VAT vendors, and the amounts in the transactions below include VAT where applicable. The entity uses a periodic inventory system. Appliances Stores entered into the following transactions during August 2014: on 2 August, goods were purchased on credit from Big Appliances for R353 400, with invoice number 457 received; on 5 August, stationery was purchased from Folio Stationers for R1 026 and paid using cheque number 251; on 7 August, Telkom was paid R5 700 for the July telephone account using cheque number 252; on 14 August, the City Council was paid R5 928 for water and electricity using cheque number 253; on 16 August, goods were purchased from Smart Appliances for R228 000 and paid using cheque number 254; on 20 August, goods were purchased on credit from ABC Appliances for R57 000, with invoice number 465 received; on 25 August, Big Appliances was paid R114 000 using cheque number 255 as part payment of the amount owing, and cheque number 256 was drawn for cash to pay salaries of R50 000; and on 26 August, the remaining amount owed to the creditor Big Appliances was settled using cheque number 257, after Appliances Stores received a 20% settlement discount (referring back to the transactions of 2 and 25 August 2014). This question must be started on a new, separate page. Using the transactions of Appliances Stores for August 2014 described in the introduction, record the applicable entries in the cash payments journal. Your journal must include columns for document number, day, details, bank, purchases, VAT input, creditors, settlement discount received (credit), VAT output (credit) and sundry accounts (showing both the amount and details). The journal does not need to be closed off at the end of the month, but all calculations must be shown.

5. Oct/Nov 2014, Q3(b)5 marks

   Appliances Stores is a trading entity registered as a VAT vendor, with the applicable VAT rate at 14%. All of the entity's suppliers are also registered VAT vendors, and the amounts in the transactions below include VAT where applicable. The entity uses a periodic inventory system. Appliances Stores entered into the following transactions during August 2014: on 2 August, goods were purchased on credit from Big Appliances for R353 400, with invoice number 457 received; on 5 August, stationery was purchased from Folio Stationers for R1 026 and paid using cheque number 251; on 7 August, Telkom was paid R5 700 for the July telephone account using cheque number 252; on 14 August, the City Council was paid R5 928 for water and electricity using cheque number 253; on 16 August, goods were purchased from Smart Appliances for R228 000 and paid using cheque number 254; on 20 August, goods were purchased on credit from ABC Appliances for R57 000, with invoice number 465 received; on 25 August, Big Appliances was paid R114 000 using cheque number 255 as part payment of the amount owing, and cheque number 256 was drawn for cash to pay salaries of R50 000; and on 26 August, the remaining amount owed to the creditor Big Appliances was settled using cheque number 257, after Appliances Stores received a 20% settlement discount (referring back to the transactions of 2 and 25 August 2014). This question must be started on a new, separate page. Using the transactions of Appliances Stores for August 2014 described in the introduction, record the applicable entries in the purchases journal. Your journal must include columns for document number, day, details, VAT input, purchases and creditors. The journal does not need to be closed off at the end of the month, but all calculations must be shown.

6. May/Jun 2014, Q3.1 (CRJ)10 marks

   P Home set up a general dealer business known as P Home Dealers, which is registered as a VAT vendor. The following transactions were undertaken by P Home Dealers during March 2014: on 1 March, P Home deposited R40 000 into the business bank account as start-up capital and receipt number 01 was issued; on the same day cheque number 001 for R1 482 was issued to Rent-Me Properties for the monthly rental. On 2 March, goods to the value of R24 510 were bought for cash and paid using cheque number 002, and equipment costing R15 000 was bought on credit from Equip Supplies, with invoice number 113 received. On 5 March, cheque number 003 was issued to Teldigit, covering R798 for a telephone installation and R171 for prepaid airtime. On 7 March, goods worth R3 500 were sold on credit to A Mali, who immediately paid R500 in cash as a part payment; invoice number 01 and receipt number 02 were issued. On 15 March, cheque number 004 for R1 800 was issued to cover the weekly wages, and the total cash sales recorded on cash register roll number 001 came to R3 990. On 22 March, cheque number 005 for R5 000 was issued to Equip Supplies as a part payment for the equipment bought on 2 March. On 25 March, A Mali paid a further R1 000 as part payment for the goods bought on 7 March, and receipt number 03 was issued. On 29 March, total cash sales per cash register roll number 002 amounted to R12 426. On 30 March, a delivery truck costing R75 000 was purchased on credit. Additional information: VAT is calculated at 14% and is already included in the amounts above where applicable; P Home Dealers uses the periodic inventory system. For P Home Dealers, prepare the cash receipts journal (CRJ) for March 2014, providing analysis columns for Day, Details, Bank, Sales, Debtors control, VAT output and Sundry accounts. You are told to ignore the analysis of the receipts column.

7. May/Jun 2014, Q3.1 (CPJ)11.5 marks

   P Home set up a general dealer business known as P Home Dealers, which is registered as a VAT vendor. The following transactions were undertaken by P Home Dealers during March 2014: on 1 March, P Home deposited R40 000 into the business bank account as start-up capital and receipt number 01 was issued; on the same day cheque number 001 for R1 482 was issued to Rent-Me Properties for the monthly rental. On 2 March, goods to the value of R24 510 were bought for cash and paid using cheque number 002, and equipment costing R15 000 was bought on credit from Equip Supplies, with invoice number 113 received. On 5 March, cheque number 003 was issued to Teldigit, covering R798 for a telephone installation and R171 for prepaid airtime. On 7 March, goods worth R3 500 were sold on credit to A Mali, who immediately paid R500 in cash as a part payment; invoice number 01 and receipt number 02 were issued. On 15 March, cheque number 004 for R1 800 was issued to cover the weekly wages, and the total cash sales recorded on cash register roll number 001 came to R3 990. On 22 March, cheque number 005 for R5 000 was issued to Equip Supplies as a part payment for the equipment bought on 2 March. On 25 March, A Mali paid a further R1 000 as part payment for the goods bought on 7 March, and receipt number 03 was issued. On 29 March, total cash sales per cash register roll number 002 amounted to R12 426. On 30 March, a delivery truck costing R75 000 was purchased on credit. Additional information: VAT is calculated at 14% and is already included in the amounts above where applicable; P Home Dealers uses the periodic inventory system. For P Home Dealers, prepare the cash payments journal (CPJ) for March 2014, providing analysis columns for Day, Details, Bank, Purchases, Creditors control, VAT input and Sundry accounts.

8. May/Jun 2014, Q3.23.5 marks

   P Home set up a general dealer business known as P Home Dealers, which is registered as a VAT vendor. The following transactions were undertaken by P Home Dealers during March 2014: on 1 March, P Home deposited R40 000 into the business bank account as start-up capital and receipt number 01 was issued; on the same day cheque number 001 for R1 482 was issued to Rent-Me Properties for the monthly rental. On 2 March, goods to the value of R24 510 were bought for cash and paid using cheque number 002, and equipment costing R15 000 was bought on credit from Equip Supplies, with invoice number 113 received. On 5 March, cheque number 003 was issued to Teldigit, covering R798 for a telephone installation and R171 for prepaid airtime. On 7 March, goods worth R3 500 were sold on credit to A Mali, who immediately paid R500 in cash as a part payment; invoice number 01 and receipt number 02 were issued. On 15 March, cheque number 004 for R1 800 was issued to cover the weekly wages, and the total cash sales recorded on cash register roll number 001 came to R3 990. On 22 March, cheque number 005 for R5 000 was issued to Equip Supplies as a part payment for the equipment bought on 2 March. On 25 March, A Mali paid a further R1 000 as part payment for the goods bought on 7 March, and receipt number 03 was issued. On 29 March, total cash sales per cash register roll number 002 amounted to R12 426. On 30 March, a delivery truck costing R75 000 was purchased on credit. Additional information: VAT is calculated at 14% and is already included in the amounts above where applicable; P Home Dealers uses the periodic inventory system. Using the cash receipts journal and cash payments journal prepared for P Home Dealers, draw up the bank account for March 2014 in the general ledger, ensuring it is properly balanced or closed off at the end of the month.

9. Oct/Nov 2013, Q2.1.112 marks

   Sport Traders buys and sells sport equipment, is registered as a VAT vendor, and charges VAT at 14%. On 1 August 2013 the following debtors' balances appeared in its accounting records: Pretoria Soccer Club (folio DL1) R5 000; Pretoria Tennis Club (folio DL2) R8 000; Pretoria Rugby Club (folio DL3) R4 000; Pretoria Golf Club (folio DL4) R7 000. During August 2013 the following source documents were processed: (1) Duplicate tax invoice No 270 dated 3 August 2013 to Pretoria Rugby Club (VAT reg 4312345678) for 15 rugby balls (code RB10) at R550-00 each less a 10% discount of R825-00, giving a subtotal of R7 425-00, VAT of R1 039-50 and a total (on account) of R8 464-50. (2) Original credit note No 125 dated 4 August 2013 received from Gilbert Stores for 20 rugby balls (product no RB150) at R450-00 each, amount credited R9 000-00, VAT R1 260-00, total credit due R10 260-00. (3) Duplicate tax invoice No 271 dated 8 August 2013 to Pretoria Tennis Club (VAT reg 4387654321) for 90 tennis balls (code TB30) at R70-00 each, total price R6 300-00, VAT R882-00, total (on account) R7 182-00. (4) Original tax invoice No 1345 dated 9 August 2013 received from Slazenger Traders for 100 tennis balls (code TB250) at R50-00 each, total R5 000-00, VAT R700-00, total R5 700-00 (on account). (5) Duplicate credit note No 55 dated 9 August 2013 issued to Pretoria Tennis Club for 20 tennis balls (code TB30) at R70-00 each, amount credited R1 400-00, VAT R196-00, total credit due R1 596-00. (6) Duplicate tax invoice No 272 dated 12 August 2013 to Pretoria Soccer Club (VAT reg 4398745601) for 20 soccer balls (code SB20) at R400-00 each, total R8 000-00, VAT R1 120-00, total (on account) R9 120-00. (7) Duplicate credit note No 56 dated 13 August 2013 issued to Pretoria Soccer Club for 5 soccer balls (code SB20) at R400-00 each, amount credited R2 000-00, VAT R280-00, total credit due R2 280-00. (8) Original tax invoice No 1120 dated 18 August 2013 received from Nike Stores for 40 soccer balls (code SB650) at R300-00 each less a 10% discount of R1 200-00, subtotal R10 800-00, VAT R1 512-00, total R12 312-00 (on account). (9) Duplicate tax invoice No 273 dated 22 August 2013 to Pretoria Golf Club (VAT reg 4321324354) for 30 golf balls (code GB40) at R250-00 each, total R7 500-00, VAT R1 050-00, total (on account) R8 550-00. (10) Duplicate credit note No 57 dated 25 August 2013 issued to Pretoria Golf Club for 4 golf balls (code GB40) at R250-00 each, amount credited R1 000-00, VAT R140-00, total credit due R1 140-00. Note: you are not required to close off the journals at the end of the month, and all calculations must be shown. Using the transactions of Sport Traders for August 2013 described above, draw up the sales journal, providing columns for the document number, the day, the details (customer name), the folio reference, VAT output, sales, and debtors.

10. Oct/Nov 2013, Q2.1.29 marks

    Sport Traders buys and sells sport equipment, is registered as a VAT vendor, and charges VAT at 14%. On 1 August 2013 the following debtors' balances appeared in its accounting records: Pretoria Soccer Club (folio DL1) R5 000; Pretoria Tennis Club (folio DL2) R8 000; Pretoria Rugby Club (folio DL3) R4 000; Pretoria Golf Club (folio DL4) R7 000. During August 2013 the following source documents were processed: (1) Duplicate tax invoice No 270 dated 3 August 2013 to Pretoria Rugby Club (VAT reg 4312345678) for 15 rugby balls (code RB10) at R550-00 each less a 10% discount of R825-00, giving a subtotal of R7 425-00, VAT of R1 039-50 and a total (on account) of R8 464-50. (2) Original credit note No 125 dated 4 August 2013 received from Gilbert Stores for 20 rugby balls (product no RB150) at R450-00 each, amount credited R9 000-00, VAT R1 260-00, total credit due R10 260-00. (3) Duplicate tax invoice No 271 dated 8 August 2013 to Pretoria Tennis Club (VAT reg 4387654321) for 90 tennis balls (code TB30) at R70-00 each, total price R6 300-00, VAT R882-00, total (on account) R7 182-00. (4) Original tax invoice No 1345 dated 9 August 2013 received from Slazenger Traders for 100 tennis balls (code TB250) at R50-00 each, total R5 000-00, VAT R700-00, total R5 700-00 (on account). (5) Duplicate credit note No 55 dated 9 August 2013 issued to Pretoria Tennis Club for 20 tennis balls (code TB30) at R70-00 each, amount credited R1 400-00, VAT R196-00, total credit due R1 596-00. (6) Duplicate tax invoice No 272 dated 12 August 2013 to Pretoria Soccer Club (VAT reg 4398745601) for 20 soccer balls (code SB20) at R400-00 each, total R8 000-00, VAT R1 120-00, total (on account) R9 120-00. (7) Duplicate credit note No 56 dated 13 August 2013 issued to Pretoria Soccer Club for 5 soccer balls (code SB20) at R400-00 each, amount credited R2 000-00, VAT R280-00, total credit due R2 280-00. (8) Original tax invoice No 1120 dated 18 August 2013 received from Nike Stores for 40 soccer balls (code SB650) at R300-00 each less a 10% discount of R1 200-00, subtotal R10 800-00, VAT R1 512-00, total R12 312-00 (on account). (9) Duplicate tax invoice No 273 dated 22 August 2013 to Pretoria Golf Club (VAT reg 4321324354) for 30 golf balls (code GB40) at R250-00 each, total R7 500-00, VAT R1 050-00, total (on account) R8 550-00. (10) Duplicate credit note No 57 dated 25 August 2013 issued to Pretoria Golf Club for 4 golf balls (code GB40) at R250-00 each, amount credited R1 000-00, VAT R140-00, total credit due R1 140-00. Note: you are not required to close off the journals at the end of the month, and all calculations must be shown. Using the same August 2013 transactions of Sport Traders, draw up the sales returns journal, providing columns for the document number, the day, the details (customer name), the folio reference, VAT output, sales returns, and debtors.

11. Oct/Nov 2013, Q2.24 marks

    Sport Traders buys and sells sport equipment, is registered as a VAT vendor, and charges VAT at 14%. On 1 August 2013 the following debtors' balances appeared in its accounting records: Pretoria Soccer Club (folio DL1) R5 000; Pretoria Tennis Club (folio DL2) R8 000; Pretoria Rugby Club (folio DL3) R4 000; Pretoria Golf Club (folio DL4) R7 000. During August 2013 the following source documents were processed: (1) Duplicate tax invoice No 270 dated 3 August 2013 to Pretoria Rugby Club (VAT reg 4312345678) for 15 rugby balls (code RB10) at R550-00 each less a 10% discount of R825-00, giving a subtotal of R7 425-00, VAT of R1 039-50 and a total (on account) of R8 464-50. (2) Original credit note No 125 dated 4 August 2013 received from Gilbert Stores for 20 rugby balls (product no RB150) at R450-00 each, amount credited R9 000-00, VAT R1 260-00, total credit due R10 260-00. (3) Duplicate tax invoice No 271 dated 8 August 2013 to Pretoria Tennis Club (VAT reg 4387654321) for 90 tennis balls (code TB30) at R70-00 each, total price R6 300-00, VAT R882-00, total (on account) R7 182-00. (4) Original tax invoice No 1345 dated 9 August 2013 received from Slazenger Traders for 100 tennis balls (code TB250) at R50-00 each, total R5 000-00, VAT R700-00, total R5 700-00 (on account). (5) Duplicate credit note No 55 dated 9 August 2013 issued to Pretoria Tennis Club for 20 tennis balls (code TB30) at R70-00 each, amount credited R1 400-00, VAT R196-00, total credit due R1 596-00. (6) Duplicate tax invoice No 272 dated 12 August 2013 to Pretoria Soccer Club (VAT reg 4398745601) for 20 soccer balls (code SB20) at R400-00 each, total R8 000-00, VAT R1 120-00, total (on account) R9 120-00. (7) Duplicate credit note No 56 dated 13 August 2013 issued to Pretoria Soccer Club for 5 soccer balls (code SB20) at R400-00 each, amount credited R2 000-00, VAT R280-00, total credit due R2 280-00. (8) Original tax invoice No 1120 dated 18 August 2013 received from Nike Stores for 40 soccer balls (code SB650) at R300-00 each less a 10% discount of R1 200-00, subtotal R10 800-00, VAT R1 512-00, total R12 312-00 (on account). (9) Duplicate tax invoice No 273 dated 22 August 2013 to Pretoria Golf Club (VAT reg 4321324354) for 30 golf balls (code GB40) at R250-00 each, total R7 500-00, VAT R1 050-00, total (on account) R8 550-00. (10) Duplicate credit note No 57 dated 25 August 2013 issued to Pretoria Golf Club for 4 golf balls (code GB40) at R250-00 each, amount credited R1 000-00, VAT R140-00, total credit due R1 140-00. Note: you are not required to close off the journals at the end of the month, and all calculations must be shown. Using the opening debtors' balances at 1 August 2013 (Pretoria Soccer Club R5 000, Pretoria Tennis Club R8 000, Pretoria Rugby Club R4 000, Pretoria Golf Club R7 000) together with the transactions recorded above, prepare the debtors list of Sport Traders as at 31 August 2013.

12. May/Jun 2013, Q230 marks

    Joe Blob owns a property development entity called Big Builders, which is registered as a VAT vendor and applies a periodic inventory system. During March 2013 the following cash transactions were recorded. In the Cash Receipts Journal (CRJ01): on day 3, receipt R01 from Joe Blob banked R20 000, recorded as a sundry account for Capital of R20 000; on day 11, receipt R02 from Fish Takeaways banked R5 700, comprising VAT output of R700 and a sundry account for Rental income of R5 000; on day 30, receipt R03 from Housing Development banked R20 000, with debtors of R20 570, settlement discount granted of R500 (shown as a deduction) and VAT input of R70 (shown as a deduction). The CRJ01 column totals for March were: Bank R45 700, Debtors R20 570, Settlement discount granted (R500), VAT input (R70), VAT output R700, and Sundry accounts R25 000. In the Cash Payments Journal (CPJ01): on day 3, payment 173 to Cash was R700, all for Wages of R700; on day 11, payment 174 to Buildaway was R1 140, comprising Purchases of R1 000 and VAT input of R140; on day 15, payment 175 to ME Builders was R10 000, comprising Creditors of R10 285 less a settlement discount received of R250 and VAT output of R35 (both shown as deductions); on day 30, payment 176 to Cash was R700, all for Wages of R700. The CPJ01 column totals for March were: Bank R12 540, Purchases R1 000, Creditors R10 285, Settlement discount received (R250), Wages R1 400, VAT input R140, and VAT output (R35). On 1 March 2013 the general ledger balances of Big Builders were: Debtors control account R30 000 and Creditors control account R15 000. Using the Cash Receipts Journal (CRJ01) and Cash Payments Journal (CPJ01) of Big Builders for March 2013 as described, open all the necessary ledger accounts in the general ledger of Big Builders and post the amounts from both journals to these accounts for March 2013. Thereafter, properly balance and close off the bank account in the general ledger of Big Builders for March 2013.