Podcast
Questions and Answers
The opening balance of Bank on 1 April 2023 is R_____ 000
The opening balance of Bank on 1 April 2023 is R_____ 000
30
The opening balance of Trading Stock on 1 April 2023 is R_____ 000
The opening balance of Trading Stock on 1 April 2023 is R_____ 000
20
According to the Cash Receipts Journal, the total debit to the Bank is R_____ 000
According to the Cash Receipts Journal, the total debit to the Bank is R_____ 000
110
According to the Cash Receipts Journal, the sales amount is R_____ 000
According to the Cash Receipts Journal, the sales amount is R_____ 000
According to the Cash Receipts Journal, the cost of sales is R_____ 000
According to the Cash Receipts Journal, the cost of sales is R_____ 000
According to the Cash Payments Journal, the total credit to the Bank is R_____ 000
According to the Cash Payments Journal, the total credit to the Bank is R_____ 000
According to the Cash Payments Journal, the trading stock amount is R_____ 000
According to the Cash Payments Journal, the trading stock amount is R_____ 000
According to the Cash Payments Journal, the wages amount is R_____ 000
According to the Cash Payments Journal, the wages amount is R_____ 000
Flashcards
Cash Receipts Journal
Cash Receipts Journal
A journal used to record all cash inflows, including cash sales and collections from accounts receivable.
Cash Payments Journal
Cash Payments Journal
A journal used to record all cash outflows, including cash purchases and payments of accounts payable.
Bank Balance
Bank Balance
Money held in checking or savings accounts and readily available for transactions.
Trading Stock
Trading Stock
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Wages
Wages
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Sales
Sales
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Cost of Sales
Cost of Sales
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Study Notes
- The task is to use the totals in the Journals to complete accounts in the General Ledger of Thomas Traders for April 2023.
- The opening balances are provided as of April 1, 2023.
Opening Balances on 1 April 2023
- Bank: R30 000
- Trading Stock: R20 000
Totals on 30 April 2023 from the Cash Receipts Journal
- Bank: R80 000 (edited to R110 000)
- Sales : R 80 000
- Cost of Sales : R30 000
Totals from the Cash Payments Journal
- Bank: R50 000
- Trading Stock: R30 000 (edited to R50 000)
- Wages: R10 000
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