Business, 05.08.2021 09:10 Requiem3327

1.1 Sold goods with a cost price of R780 to R Smuts, a debtor. Prorit mark- on the cost price. Source Journal ASSETS OWNER'S EQUITY document Effect Reason Effect Reason 1.1 [8] QUESTION 2 [20 marks; 24 minutes] Use the following information from Subizwe stores for February 2020 and record the transactions in the Cash Receipts Journal and Debtors Journal. The profit mark-up are 50% on cash sales and 60% on credit sales. Transactions for February 2020: 01 Owner, Subizwe, increase his capital contribution with R60 000. Receipt 55 was issued. The money was directly deposited into the business bank account. 05 Issued invoice no 13 to Smith for R1 280. 09 Cash sales for the day are R1 470. 15 Supply goods on credit to Roux for R320. 18 Received a cheque from Smith who paid his debt from 5 February and deposit cash sales for the day of R930 in the bank. 22 Credit sales to Smith with cost price with R330. [20] QUESTION 3 [12 marks; 14 minutes] The following General Ledger are given from Subizwe Stores for March 2020. Answer the questions that follow

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1.1 Sold goods with a cost price of R780 to R Smuts, a debtor. Prorit mark- on the cost price. Sourc...

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