Traders as partial settlement of our outstanding debt

Assignment Help Financial Accounting

Reference no: EM133775912

Question: Use the following information from the subsidiary journals above to complete the following and close off the accounts

Creditors leadger of L. Traderes
General Ledger
Infromation

1. Creditors list
L.Diego Traders                                      50,000
V.Junior Dealers                                      60,500
C.Benzema Traders                                  30,000
Balance on the Creaditors control               140,500

2. Balances and Totals in the general ledger on 1 August 2024:

Inventory    100,000
Equipment                                                 90,000
Bank                                                        38,000
Creaditors control                                     140,500
Packaging material                                      4000
Stationery                                                  6,000

Transactions
2. Draw EFT 36 to V. Junior dealers for R 19 000 as partial settlement on account.
6 Issued a debit note no. 12 for stationery R150, equipment R2 160 and stock, R580 to C. Benzema Traders.
7 Made an EFT of R20 000 to L. Diego Traders as partial settlement of our outstanding debt.
3 Credit purchase invoices received fromthe following creditors.
• C. Benzema Traders for stock R3 000 and packaging material, R1 900. Renumbered invoice 29.
• V. Junior Dealers for inventory R5 000 and stationery RA 400.
• L. Diego Traders for Trading stock, R1 200 subject to 10% trade discount.

Reference no: EM133775912

Questions Cloud

How does the concept of the social construction of theory : How does the concept of the social construction of theory, as discussed in Chapter 1, influence the way social work practitioners apply.

Explain about during your service-learning experience : Explain two-three areas that you enjoyed learning about during your service-learning experience.

Examples of white privilege in operation in society : Do we believe that White privilege is a real phenomenon? Why or why not? Provide at least 2 examples of White privilege in operation in society?

Do you confront in decision making using irr : BUS286 Corporate Finance, Murdoch University - Provide a response to your client that demonstrates that the new portfolio does or does not reflect the benefits

Traders as partial settlement of our outstanding debt : C. Benzema Traders for stock R3 000 and packaging material, R1 900. Renumbered invoice 29. • V. Junior Dealers for inventory R5 000 and stationery RA 400

Draw eft 36 to v. junior dealers : Draw EFT 36 to V. Junior dealers for R 19 000 as partial settlement on account. 6 Issued a debit note no. 12 for stationery R150, equipment R2 160 and stock

Identify the elements of clinical deterioration : Identify the elements of clinical deterioration and timely reportin using documentation and clinical handover

Describe the various roles and responsibilities associated : Describe the various roles and responsibilities associated with an organisational performance development program. Complete the table to answer

Interconnected and cultural responsiveness practices : How the holistic, integrated and interconnected and cultural responsiveness practices are related). Using the readings and prescribed text along with your own

User Account

All Pages