ACTIVITY 1:

To transfer the auxiliary journals to the ledger

[LO 3.3]

Once the entries in the auxiliary journals have been completed, all the information is transferred to the ledger.

The column totals of the CRJ are transferred on the last day of the month and the entries in the sundries column are transferred individually on the date of the entry.

Cash received by a service enterprise is transferred as follows to the CRJ:

1. Bank account – debit with the total cash received (Asset increases on the debit side).

2. Current Income account – credit with the total for the month (Ownership interest increases on the credit side).

3. Capital account – credit with the capital amount deposited (Ownership interest increases on the credit side).

The names of the other accounts involved appear in the “details” column of the ledger.

In the case of the bank account - capital and current income (total receipts)In the case of the capital account - bankIn the case of the current income account - bank

ASSIGNMENT 1: Transfer of the CRJ in a Service Enterprise

ASSIGNMENT 2: Transfer of the CRJ in a Commercial Enterprise

1. Bank account – debit with the total receipts for the month (Asset increases on the debit side.)

2. Capital account – credit with all capital deposited during the month(Ownership interest increases on the credit side.)

3. Sales account – credit with the sales for the month(Ownership interest increases on the credit side.)

4. Selling costs – debit with the amount for the month(Ownership interest decreases on the debit side.)

5. Trading inventory – credit with cost price of the sales amount(Asset decreases on the credit side.)

Bank account – Double entry is total receipts

Capital – Double entry is bank accountSales – Double entry is bank account

Selling costs – Double entry is trading inventory

ASSIGNMENT 3: transfer of the CPJ

1. Bank account – credit with the total payments for the month(Asset decreases on the credit side.)

2. Assets purchased for cash – debit every asset separately with the relevant amount(Assets increase on the debit side.)

3. Expenditure paid by cheque – debit each expenditure separately with the relevant amount(Ownership interest decreases on the debit side.)

Bank account – Double entry is total payments

Assets – Double entry is bank accountExpenditure – Double entry is bank account

ASSIGNMENT 4: transfer of CRJ with cost price of sales

ASSIGNMENT 5: transfer of the debtors journal

sales column

1. Debtors control account – debit with the total of credits sales for the month(Asset increases on the debit side.)

2. Sales account – credit with the total of the credit sales for the month(Ownership interest increases on the credit side.)

The double entry for sales is debtors control and the double entry for debtors control is sales.

selling costs column

1. Selling costs account – debit with the total selling costs for the month (Ownership interest decreases on the debit side.)

2. Trading inventory account – credit with the total of the credit sales for the month(Asset decreases on the credit side.)

Double entry for selling costs is trading inventory and double entry for trading inventory is selling costs.

ASSIGNMENT 6: transfer of the creditors journal

1. Creditors control – credit with all the credit purchases for the month(Liability increases on the credit side.)

2. All assets purchased are debited separately with the amount of purchases(Asset increases on the debit side.)

3 All expenditure incurred on credit is debited with the specific amount(Ownership interest decreases on the debit side.)

The double entry for creditors control is sundry purchases. The double entry for every asset purchased or expenditure incurred on credit, is creditors control.

ASSIGNMENT 7: receipts from debtors: transfer of the DJ and CRJ

1. Bank – debit with the cash received(Asset increases on the debit side.)

2. Debtors control – credit with the amount paid by debtors(Asset decreases on the credit side.)

The double entry in the case of bank is debtors control, and in the case of debtors control it is bank.

ASSIGNMENT 8: payments to creditors: transfer of the CJ and CPJ

1. Creditors control – debit with all payments to creditors for the month(Liability that decreases is debited.)

ASSIGNMENT 9: Transfer of all the auxiliary journals - CRJ, CPJ, DJ and CJ

ACTIVITY 1

ASSIGNMENT 1

General Ledger of Mzondi Plumbers

ACTIVITY 1

ASSIGNMENT 2

General Ledger of Levubu Dealers

ACTIVITY 1

ASSIGNMENTS 3

General Ledger of Levubu Dealers

ACTIVITY 1

ASSIGNMENT 4

General Ledger of Lubbe Dealers

ACTIVITY 1

ASSIGNMENT 5

General Ledger of Gesina Dealers

ACTIVITY 1

ASSIGNMENT 6

General Ledger of Toledo Dealers

ACTIVITY 1

ASSIGNMENT 7

General Ledger of Highway Dealers

ACTIVITY 1

ASSIGNMENT 8

General Ledger of Marais Dealers

ACTIVITY 1

ASSIGNMENT 9

General Ledger of Enslin Dealers