Identify the journals that would be used to record the following transactions En
ID: 2548130 • Letter: I
Question
Identify the journals that would be used to record the following transactions
Enter the transactions from part (a) above into the appropriate journals and total each journal
Date
Transaction details
Source Documents
Amount
Inc GST
Journal
??
Mar 01
R. Stirling commenced a building supply business by depositing cash in the back
Memo
30,000
02
Purchased fixtures & fittings for cash
Chq 0001
6,600
02
Paid rent on shop premises
Chq 0002
1,100
05
Purchased stock on Credit – B Jones
Invoice 47
2,200
06
Sold goods for cash
Cash
770
06
Credit sales to E. Johnson
Invoice 11
1,100
09
Paid wages
Chq 0003
650
09
Sold goods to F Black
Invoice 12
704
10
Cash sales
Cash
2,750
13
Paid television advertising
Chq 0004
2,420
14
Cash sales
Cash
1,320
14
Sales to E. Thomson
Invoice 13
550
16
Sales to D Brown
Invoice 14
825
16
Purchases from P. Plummer
Invoice 687
792
17
Cash purchases
Chq 0005
1,650
17
Paid wages
Chq 0006
450
21
Cash purchases
Chq 0007
1,265
21
Cash sales
Cash
2,200
25
Credit sales to E. Green
Invoice 15
880
27
Received cash from F Black for payment of account in full
Receipt 01
704
28
Paid bank interest
Chq 0008
250
Cash Receipts Journal
Date
Particulars
Rec No
Accounts Receivables
Sales
GST
Collected
Other
Bank
$
Account
Total
Cash Payments Journal
Date
Particulars
Chq No
Disc Rec
Accounts
Payable
Cash Purchases
GST
Paid
Other
Bank
$
Account
Total
Sales Distribution Journal
Date
Name of Debtors
Inv No
Total
Accounts Receivables
Sales
GST
Collected
Total
Purchase Distribution Journal
Date
Name of Creditors
Inv No
Total
Accounts Payables
Purchases
GST
Paid
Total
Identify the journals that would be used to record the following transactions
Enter the transactions from part (a) above into the appropriate journals and total each journal
Date
Transaction details
Source Documents
Amount
Inc GST
Journal
??
Mar 01
R. Stirling commenced a building supply business by depositing cash in the back
Memo
30,000
02
Purchased fixtures & fittings for cash
Chq 0001
6,600
02
Paid rent on shop premises
Chq 0002
1,100
05
Purchased stock on Credit – B Jones
Invoice 47
2,200
06
Sold goods for cash
Cash
770
06
Credit sales to E. Johnson
Invoice 11
1,100
09
Paid wages
Chq 0003
650
09
Sold goods to F Black
Invoice 12
704
10
Cash sales
Cash
2,750
13
Paid television advertising
Chq 0004
2,420
14
Cash sales
Cash
1,320
14
Sales to E. Thomson
Invoice 13
550
16
Sales to D Brown
Invoice 14
825
16
Purchases from P. Plummer
Invoice 687
792
17
Cash purchases
Chq 0005
1,650
17
Paid wages
Chq 0006
450
21
Cash purchases
Chq 0007
1,265
21
Cash sales
Cash
2,200
25
Credit sales to E. Green
Invoice 15
880
27
Received cash from F Black for payment of account in full
Receipt 01
704
28
Paid bank interest
Chq 0008
250
Specialised Journal Entries: Question 3 a) Identify the journals that would be used to record the following transactions b) Enter the transactions from part (a) above into the appropriate journals and total each journal Date Transaction details Source ournal Mar 01 R. Stirling commenced a Memo building supply business by depositing cash in the back 02 Purchased fixtures & fittings Chq 0001 for cash Paid rent on shop premises Chq 0002 1,100 Purchased stock on Credit-Invoice 47 02 05 200 B Jones Sold goods for cash Credit sales to E. Johnson Invoice 11 1,100 Paid wages Sold goods to F Black Cash sales Paid television advertisingChq 0004 2,420 Cash sales Sales to E. Thomson Sales to D Brown Purchases from P. Plummer Invoice 687 792 06 06 09 09 10 Chq 0003 650 Invoice 12 Cash 750 1,320 Invoice 13 550 16 Invoice 14 825 16Explanation / Answer
Date Transaction details Source Documents Amount Inc GST Journal ?? Mar-01 R. Stirling commenced a building supply business by depositing cash in the bank Memo 30,000 Cash Receipts 2 Purchased fixtures & fittings for cash Chq 0001 6,600 Cash Payments 2 Paid rent on shop premises Chq 0002 1,100 Cash Payments 5 Purchased stock on Credit – B Jones Invoice 47 2,200 Purchase Journal 6 Sold goods for cash Cash 770 Cash Receipts 6 Credit sales to E. Johnson Invoice 11 1,100 Sales Journal 9 Paid wages Chq 0003 650 Cash Payments 9 Sold goods to F Black Invoice 12 704 Sales Journal 10 Cash sales Cash 2,750 Cash Receipts 13 Paid television advertising Chq 0004 2,420 Cash Payments 14 Cash sales Cash 1,320 Cash Receipts 14 Sales to E. Thomson Invoice 13 550 Sales Journal 16 Sales to D Brown Invoice 14 825 Sales Journal 16 Purchases from P. Plummer Invoice 687 792 Purchase Journal 17 Cash purchases Chq 0005 1,650 Cash Payments 17 Paid wages Chq 0006 450 Cash Payments 21 Cash purchases Chq 0007 1,265 Cash Payments 21 Cash sales Cash 2,200 Cash Receipts 25 Credit sales to E. Green Invoice 15 880 Cash Receipts 27 Received cash from F Black for payment of account in full Receipt 01 704 Cash Receipts 28 Paid bank interest Chq 0008 250 Cash Payments Cash Receipts Journal Date Particulars Rec.No. Accounts Sales Cr GST Cr Other Bank Dr Receivable Cr $ Account Mar.1 Investment 30000 Common stock 30000 Mar.6 Sale 700 70 770 Mar.10 Sale 2500 250 2750 Mar.14 Sale 1200 120 1320 Mar.21 Sale 2000 200 2200 Mar.27 Collection 704 704 704 6400 640 30000 0 37744 Cash Disbursement Journal Journal Date Particulars Chq. No. Accounts Cash Purchases GSTPaid Other Bank Cr Payable $ Account Mar.2 Furn. & Fixt. 1 600 6000 Fixt. & Fittings 6600 Mar.2 Rent payment 2 100 1000 Rent Expene 1100 Mar.9 Wages 3 650 Wages Expense 650 Mar.13 Advertising 4 220 2200 Advertising 2420 Mar.17 Purchase 5 1500 150 1650 Mar.17 Wages 6 450 Wages Expense 450 Mar.21 Purchase 7 1150 115 1265 Mar.8 Interest 8 250 Interest 250 2650 1185 10550 0 14385 SALES JOURNAL Date Name of Invoice Accounts Debtor Number Receivable Dr Sales Cr GST Cr Mar.6 E.Johsnon 11 1100 1000 100 Mar.9 F.Black 12 704 640 64 Mar.14 E.Thomson 13 550 500 50 Mar.16 D.Brown 14 825 750 75 E.Green 15 880 800 80 4059 3690 369 PURCHASE JOURNAL Date Name of Invoice Accounts Purchases GST paid Creditor Number Payable Mar.5 B.Jones 47 2200 2000 200 Mar.16 P.Plumber 687 792 720 72 2992 2720 272