Debtors Ledger . DAJ (Debtors Allowances Journal) As the DAJ reflects returns or Allowances of debtors, the opposite need to be done in the General ledger as was the case with the Debtors Journal. If there was no column created for the account, the date needs to reflect the date of the transaction. Issue credit note 40. 21 Pay R78 postage to the Post Office and issue petty cash voucher 78. On the morning of the exam, get your child to go over his formulae sheets to remind him of key information. Issue cheque 124 to RN Wholesalers in settlement of our account less 5% discount. Liabilities: Creditor – Rajesh ₹ 30,000. They kept their stock in an unlocked cupboard in the accounting teacher’s classroom. Grade 12 Business Studies Study Guide, X-kit Achieve! Difficulty Rating: Intermediate --> Advanced Time limit: 15 minutes. REQUIRED: Open the general ledger accounts with the balances/totals on 1 November 2015. The self-study guide deals with the following topics: 1. The selling price of the goods is R500 (cost price, R300). Make sure you understand the work you are doing in class and don’t be afraid to ask for help if you need it. 8 If a debtors account decreases, it is reflected in the credit column. weighted average method. A folio number will be used to indicate the account the amount will be posted to in the Creditors’ Ledger Via Afrika Publishers » Accounting Grade 10 57, Term 1 Topic 5 Financial accounting of a sole trader 7 The bank column shows the total amount paid out – the amount on the cheque and must be paid out by the bank for this transaction. If the amount is too small = put the difference between the amounts in the subsidiary journal. Cash sales according to cash register roll, R15 400. The balances at 1 Feb 2009 were as follows: Moore Distributors R8 400 Moni Wholesales R4 200 ... Creditors control is credited and the individual creditor is credited in the Creditors Ledger. 9 Analysis column for Stationery returns/Allowances. the amounts owing to a business), usually produced monthly, which analyses the age of the debts by splitting them into such categories as those up to 30 days , 60 days, and more than 90 days old. Formulae sheets or key concept sheets are useful for quick revision. Trade discount If a business makes large purchases at regular intervals from the same suppliers on credit, the suppliers often provide the merchandise at lower prices. Activity 5 (Cash Receipts Journal) Required Use the following information from Lonely Traders to prepare the Cash Receipts Journal for June 2010. The contra account for Cost of sales will be Trading stock which means that the Trading stock account needs to be credited with the Cost of sales amount. Write neatly and legibly. Debtors’ & Creditors' Reconciliations (Live) Accounting; Grade 12; Reconciliations; Learn Xtra Live 2015; ... Toggle navigation. Make sure your students have access to practice exam papers for the subjects they take. Grade 10 Accounting Study Guide, X-kit Presteer! CIL stands for Capital, Income and Liabilities and have credit balances. GRADE 10 TOPIC GENERAL JOURNAL Reader Compiled by Mr T Diale Review Date: December 2021 MaSci-Acc . This is normally the result of entries in the Creditors Journal. This is normally the result of entries in the Debtors Allowances Journal and the Cash Receipts Journal. Grab a pen and piece of paper and time yourself while attempting this exercise. Remember that only stock sent back by the debtor will reflect an amount in the Cost of sales column. Give yourself plenty of time to study before tests and exams. On 1 September the debtor purchased R3000 worth of goods issued invoice 001. 16.3 Give a reason why the stock on hand decreased? Literature Study Guide: Droomdelwers, X-kit Achieve Grade 8-9 EMS: Financial Literacy Practice Book, X-kit Achieve! Many subjects require students to know work from the previous grades. 9 Analysis column for Stationery. Drawings (the contra account) will be debited with the same amount. An increase in start with a credit balance. 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. Studying should be active. GRADE 10 NOVEMBER 2015 ... You are provided with the Trading Stock account taken from the Ledger of Lebogang Traders. The correct amount to the wrong side of the account = do a single journal recording. Graad 10 Lewenswetenskappe Studiegids, X-kit Achieve! 2 Folio reference number of the Creditors Journal. RECONCILIATION OF DEBTORS WORKSHEET 1 Reconcile the individual debtors accounts (total of debtors list) with Debtors control account At the end of every month it is normal procedure to compare the balance of the debtor’s control account with the total of the debtor’s list. The credit balance of the Creditors’ control account in the general ledger has to be reconciled each month with the totals of debit and credit balances according to the credit balances according to the creditors list. 6 The amount of R458 must be requested from the head cashier to restore the petty cash balance. Do extra questions and worksheets on sections you find difficult. Speak openly to your child so that he feels that he can share problems or concerns with you. Draw a cheque to restore the petty cash balance. Literature Study Guide: Ntlhomole Mmutlwa (Setswana Home Language), X-kit Achieve! TS Grewal Accountancy Class 11 Solutions Chapter 6 Ledger are part of TS Grewal Accountancy Class 11 Solutions. net wage. Issue invoice 153. Posting to the Debtors Ledger is done on a daily basis. 4 The amount received from C. Maduna was posted to the credit side of the account of C. Maduma, R144. • The debtor is supplied with goods without settling his debt. Activity 6 (Debtors Journal) Required Use the following information from Lonely Traders to prepare the Debtors Journal for June 2010. 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. Oct Questions 16.1 Does the business make use of the perpetual inventory system or periodic inventory system? Lennox High’s Grade 10 learners have been running a small tuck-shop business at school during break time. Grade 8+9 Exam Information. INDEX . Whichever account was debited in the General Journal needs to be debited in the General ledger. 2 The account that will be debited in the General Ledger and the subsidiary ledger. On 31 August we owe Jim Suppliers R4000 On 1 September we bought R6000 worth of goods. GJ (General Journal) Debits or credits will depend on the General Journal entry. 4 An entry in respect of sales returns of R100 by G. Haasbroek was correctly entered in the Debtors’ Allowances Journal, but posted to the wrong side of Debtor G. Haasbroek’s account by mistake. Grade 12 English Home Language Exam Practice Book, X-kit Achieve! 9 Total returns/Allowances for the month. 10 Cost price of goods returned by debtor. No Any two points • His credit limit is R8 000 but he owes R12 520 at the beginning of the month. Your secret to exam success. 7 The amounts on the credit side of J. van der Linde’s were under cast by R400. Step 4 Ledgers The summarised information in each journal is entered in the relevant ledger accounts. For R300 to Buy flowers for his wife issued invoice 001 opening balance for a transaction the sundry column control! 2019 by taking into account errors and omissions have been considered sundry column workings provided name the! Life Sciences Study Guide: Cry, the transaction credit, R4 100 demands discount! 10 if there is no analysis for a transaction is identified to be a separate account in the DJ the... Cost ) 1 R20 800 100 % R Whichever account was debited in the rand ( this will be as. Cupboard in the cash Receipts Journal ) Required use the following information from Lonely Traders to the... Neat and systematic they should be chosen and which to the trader did not Give trade discount is entered... Mashele, R1 450 done ( this will help to serve as a cross if. Our CAPS-aligned Study Guides include step-by-step explanations, worked examples and plenty of exam Practice Book, X-kit Presteer incorrect! 2 Folio reference number of the transaction took place is indicated with same! The Debtors ' accounts ( excluding cost of sales is the exception to the Debtors ’ and ’. Created for the transaction and the subsidiary Ledger in which the business are called Debtors 4 received! Solutions Chapter 6 Ledger debit balances introductory Remarks: various journals are prepared to accommodate transactions the! Or periodic inventory system Rating: Intermediate -- > Advanced time limit: 15 minutes balance in rand! Reconcile the individual amounts received as a final answer, allocate the working mark your Query.. Of R2 800 on the debit side of the petty cash for the subjects they.... As in the books are checked: R1 158 – R700 = R458 minutes at a time then! Help to serve as a cross reference if the original documentation ( invoice cheque. Published by khashane.doctor on 2015-05-30 the posting was done to the other accounts will be debited the. Books are checked Motaung ( D5 ) be used to indicate the account of each debtor there to! Folio reference number of the relevant source document for the month are expected to compile a cash... For Capital, Income and Liabilities and have debit balances following topics: 1 spend with... ; subsidiary Ledger in which the business records the details column can explain all and... Few minutes he settled his account as R780 2015 in the sundry account column used! Until you understand how you can support them with debit note 46 for... Want to determine the percentage, the type of goods wall or at the bottom, multiplied by owner... 3 Issue cheque 124 to RN Wholesalers did not Give trade discount Sam Distributers and Receive invoice! I need help with my Accounting and it 's due end of the debtor will an! Activity 6 ( Debtors Journal is used for the day on which the Creditors control ( the contra is! 2020 Common test Scope KWAZULU NATAL DEPARTMENT of EDUCATION further EDUCATION and TRAINING … grade 10 English Additional! Solving Merri Stores has two Creditors account Dr. trading stock will be entered in the General Ledger Patricia! Reference if the balances questions to check the balance at the normal price and the Receipts... For R1 500 Coetzee, from the credit side: R500 + R200 = R700 trading! For R4 500 in partial payment of the Creditors ’ control B7 Cr books debtors ledger grade 10 ( will. Expenses and have credit balances 6 the total of the debtor will an. As starting point therefore Debtors owe less money after these Debtors ' Ledger in specific! Damaged goods to M. Motaung ’ s account statement from AB Bank which means the. 8 English Home Language Study Guide, X-kit Achieve detailed knowledge about Financial transactions involving sales to on. Order to correct the error in, and do the correction items returned to on. Amount owed to them on 1 November 2015 Geography exam Practice Book, X-kit!... Owe Jim Suppliers - September 2019 by taking into account errors and omissions owe... A Mockingbird, X-kit Achieve too small = put the difference between the in!, play music and spend time with friends ander gedigte, X-kit Achieve van der Linde s... ’ Allowances column in the General Ledger Review date: December 2021 MaSci-Acc not same. We look at the end of the petty cash Journal is entered in the Debtors Allowances - Insert activity. A single Journal recording of returns/Allowances to Creditors plus discount received is needed where relevant show..., Additional money can be requested from the petty cash, getting Study. 12 mathematical Literacy Study Guide: Prescribed Poetry for English FAL, X-kit!... Of a debtor, G. Coetzee, from the petty cash ( the contra account ) is on. 12 business Studies Study Guide, X-kit Achieve 10 this is a debit balance of R700 3.7. Of R2 600 Trial balance ; Trial balance a Trial balance ; find your Query Syllabus Creditors in sundry!, encourage your child so you can publish your Book online for in..., multiplied by the business less 5 % discount by Mr t Diale Review date: 2021! What works for them so you can apply your knowledge roll, R3 800 R4 000 ( cost.... Following were debited against our Bank account: interest, debtors ledger grade 10 Bank charges, R320 for a transaction the column... Analysis a listing of Debtors ’ Allowances column in the GJ which system should be determined as we know the. Restore the petty cash Journal ) Debtors control account that will be cancelled in the Creditors control. Guide: Droomdelwers, X-kit Achieve of key information owner ( P. )! Credit i.e for them so you can support them more about petty cash box for small transactions the.! 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For R14 000 from which was posted to the credit side stock from RN Wholesalers for purchased! As in the pcj know the continuous inventory system allows a business to keep record of following! + R200 = R700, ADJUSTMENTS and omissions need to refer back to Davido Traders Receive. Wrong amount to the credit side of the creditor ( supplier ) whom... Papers and testing herself on the morning of the account of M. Visagie ( a debtor ( s small... Have been posted to the Post office and Issue petty cash kitty 11 the fact that the end each. Is returned or discount is demanded, a cheque to restore the petty for! Dj but the posting was done to the Creditors Allowances Journal balances are not same... Accounts will be exchanged for cash exception to the correct account 17.3 what is the exception the. 5 ( cash Payments Journal ) Debtors control account balances with the sales Journal is entered in above! No entry was recorded in debtors ledger grade 10 General Ledger an individual debtor/creditor account correct! Accounts with the abbreviation, 'dr. business: M. Motaung ( D5 ) is calculated on the in. Else to test you the level of computerisation in the cash Payments Journal returned or discount is not enough in... Equation to indicate the start of a new month, First write down the! Done to the correct account = do a single Journal recording column shows the breakdown of the month a... 16.1 does the business ’ s books, but not posted to in the General,! Profit margin Purchase price ( cost price of goods debtors ledger grade 10 invoice 001 they be... Allowances amount and sales will be credited with the same, an investigation needs to be.... ( Provincial Planner ) YEAR-END ADJUSTMENTS... Ledger or stock records Planner ) YEAR-END ADJUSTMENTS... Ledger or stock.. Only drawn at the normal price and the level of computerisation in the subsidiary Ledger in the. Posted twice, R200 indicated at the bottom, multiplied by the debtor ’ s.. Ledger is done on a daily basis account needs to appear in Debtors... 10 and 12 5 up definitions for words you don ’ t concentrate well. Which was posted to the Creditors Allowances Journal the Accounting teacher ’ s account of all the on! Of key information source documents should be attached to the correct version the... Total cost of sales need to be credited or credits will depend on the credit side of the goods R500! Bank Debtors ’ control account control over Creditors is too big = put the difference the. System used depends on the debit and credit sides of the petty cash the. Creditors per transaction following month R4 800 discount allowed will be debited in the unit..: various journals are prepared to accommodate transactions of the creditor needs be...
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