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Transferring the auxiliary journals to the ledger

Module by: Siyavula Uploaders. E-mail the author

ECONOMIC AND MANAGEMENT SCIENCES

Grade 9

BUSINESS, CONSUMER AND FINANCIAL KNOWLEDGE AND SKILLS

Module 22

TRANSFERRING THE AUXILLIARY JOURNALS TO THE LEDGER

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

  • Use the completed CRJ of Mzondi Plumbers (Activity 3.1 Assignment 1) and transfer the CRJ to the ledger. (Supply your own ledger paper to complete the activity.)

ASSIGNMENT 2: Transfer of the CRJ in a Commercial Enterprise

  • Use the completed CRJ of Levubu Dealers (Activity 3.1 Assignment 2) and transfer the CRJ. (Supply your own ledger paper to complete the activity.)
  • The same principles apply. The transfer is done as follows:

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

  • Use the completed journals of Levubu Dealers (Activity 3.1 Assignment 2) and transfer the CPJ. (Supply your own ledger paper.)
  • The total of the bank column and all the other columns is transferred on the last day of the month. The entries in the sundries column are transferred as individual amounts to the specific account on the date of the entry.
  • The transfer is done as follows:

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

  • Use the completed CRJ of Lubbe Dealers (Activity 3.1 Assignment 3) and transfer. (Supply own ledger paper.)

ASSIGNMENT 5: transfer of the debtors journal

  • Use the complete DJ of Gesina Dealers (Activity 3.2 Assignment 1) and transfer it to the ledger.
  • The total of the sales column, as well as the total of the selling costs column, is transferred to two accounts as follows:

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

  • Use the completed CJ of Toledo Dealers (Activity 3.2 Assignment 2) and transfer it to the ledger.
  • Column totals are transferred on the last day of the month. Entries in the sundries column are individually transferred to the specific account on the date of the entry.
  • The transfer is done as follows:

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

  • Use the completed DJ and CRJ of Highway Dealers (Activity 3.3) and complete the transfer.
  • When a debtor pays his account, it is recorded in the CRJ and then transferred to the ledger as follows:

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

  • Use the completed CJ and CPJ of Marais Dealers (Activity 3.4 Assignment 1) and complete the transfer.
  • When payments are made to creditors, they are recorded in the CPJ and then transferred to the ledger.
  • This is done as follows:

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

  1. Bank – credit with cash payments(Asset that decreases is credited.)

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

  • Use the completed journals of Enslin Dealers (ctivity 3.4 Assignment 2) and transfer them.

Assessment

Table 1
Learning Outcomes(LOs)
 
LO 3
MANAGERIAL, Consumer and Financial Knowledge and SkillsThe learner will be able to demonstrate knowledge and the ability to apply responsibly a range of managerial, consumer and financial skills.
Assessment Standards(ASs)
 
We know this if the learner :
3.1 completes a basic income statement and balance sheet for a service and retail business;
3.2 investigates the public relations, social responsibility and environmental responsibility strategies and actions of different businesses and organisations;
3.3 completes cash and credit transactions in the books of service and retail businesses;
3.4 uses keyboard skills and function keys in developing, storing, retrieving and editing business documentation;
3.5 analyses financial statements for decision-making at a basic level;
3.6 differentiates between the forms of credit purchases.

Memorandum

ACTIVITY 1

ASSIGNMENT 1

General Ledger of Mzondi Plumbers

Table 2
    Balance Sheet Section      
Date Details Fol Amount   Date Details Fol Amount  
    Capital B1    
            Sept. 1 Bank CRJ3.1.1 50 000 -
    Bank B2    
Sept. 30 Total receipts CRJ3.1.1 56 286              
    Nominal Accounts Section      
    Current Income N1    
            Sept. 30 Bank CRJ3.1.1 6 286 -

ACTIVITY 1

ASSIGNMENT 2

General Ledger of Levubu Dealers

Table 3
    Balance Sheet Section      
Date Details Fol Amount   Date Details Fol Amount  
    Capital B1    
            Jul. 1 Bank CRJ3.1.2 130 000 -
    Trading Inventory B2    
            Jul. 31 Cost price of sales CRJ3.1.2 8 720 -
    Bank B3    
Jul. 31 Total receipts CRJ3.1.2 140 900 -            
    Nominal Accounts Section      
    Sales N1    
            Jul. 31 Bank CRJ3.1.2 10 900 -
    Selling Costs N2    
Jul. 31 Trading Inventory CRJ3.1.2 8 720 -            

ACTIVITY 1

ASSIGNMENTS 3

General Ledger of Levubu Dealers

Table 4
    Balance Sheet Section      
Date Details Fol Amount   Date Details Fol Amount  
    Equipment B1    
Jul. 6 Bank CPJ3.1.2 6 000 -            
    Vehicle B2    
Jul. 15 Bank CPJ3.1.2 23 300 -            
    Trading Inventory B3    
Jul. 31 Bank CPJ3.1.2 14 500 -            
    Bank B4    
            Jul. 31 Total Payments CPJ3.1.2 49 809 -
    Nominal Accounts Section      
    Stationery N1    
Jul. 31 Bank CPJ3.1.2 220 -            
    Rental Expenditure N2    
Jul. 2 Bank CPJ3.1.2 1 400 -            
    Trade Licence N3    
Jul. 8 Bank CPJ3.1.2 150 -            
    Telephone N4    
Jul. 18 Bank CPJ3.1.2 125 -            
    Salary N5    
Jul. 26 Bank CPJ3.1.2 2 650 -            
    Fuel N6    
Jul. 28 Bank CPJ3.1.2 78 -            
    Water and Electricity N7    
Jul. 30 Bank CPJ3.1.2 56 -            
    Wages N8    
Jul. 31 Bank CPJ3.1.2 1 330 -            

ACTIVITY 1

ASSIGNMENT 4

General Ledger of Lubbe Dealers

Table 5
    Balance Sheet Section      
Date Details Fol Amount   Date Details Fol Amount  
    Capital B1    
            May 1 Bank CRJ3.1.3 80 000 -
    Trading Inventory B2    
            May 31 Selling costs CRJ3.1.3 2 220 -
    Bank B3    
May 31 Total Receipts CRJ3.1.3 82 960 -            
    Nominal Accounts Section      
    Verkope N1    
            May 31 Bank CRJ3.1.3 2 960 -
    Selling Costs N2    
May 31 Trading Inventory CRJ3.1.3 2 220 -            

ACTIVITY 1

ASSIGNMENT 5

General Ledger of Gesina Dealers

Table 6
    Balance Sheet Section      
Date Details Fol Amount   Date Details Fol Amount  
    Trading Inventory B1    
            Apr. 30 Selling costs DJ3.2.1 1 641 -
    Debtors Control B2    
Apr. 30 Sales DJ3.2.1 2 188 -            
    Nominal Accounts Section      
    Sales N1    
            Apr. 30 Debtors control DJ3.2.1 2 188 -
    Cost Price of Sales N2    
Apr. 30 Trading Inventory DJ3.2.1 1 641 -            

ACTIVITY 1

ASSIGNMENT 6

General Ledger of Toledo Dealers

Table 7
    Balance Sheet Section      
Date Details Fol Amount   Date Details Fol Amount  
    Equipment B1    
May 1 Creditors Control CJ3.2.1 380 -            
    Trading Inventory B2    
May 31 Creditors Control CJ3.2.1 2 783 -            
    Creditors Control B3    
            May 31 Sundry Purchases CJ3.2.1 4 958 -
    Nominal Accounts Section      
    Stationery N1    
May 31 Creditors Control CJ3.2.1 405 -            
    Packaging Material N2    
May 31 Creditors Control CJ3.2.1 605 -            
    Repairs N3    
May 12 Creditors Control CJ3.2.1 500              
    Advertisement N4    
May 25 Creditors Control CJ3.2.1 285 -            

ACTIVITY 1

ASSIGNMENT 7

General Ledger of Highway Dealers

Table 8
    Balance Sheet Section      
Date Details Fol Amount   Date Details Fol Amount  
    Trading Inventory B1    
            May 31 Selling costs DJ3.3.1 896 -
            Jun 30 Selling costs DJ3.3.2 192 -
            Jun 30 Selling costs CRJ3.3.1 9 280 -
    Debtors Control B2    
May 31 Sales DJ3.3.1 1 120 - Jun. 30 Bank CRJ13 760 -
Jun. 30 Sales DJ3.3.2 240 -            
    Bank B3    
Jun. 30 Total receipts CRJ3.3.1 12 360 -            
    Nominal Accounts Section      
    Sales N1    
            May 31 Debtors control DJ3.3.1 1 120 -
            Jun. 30 Debtors control DJ3.3.2 240 -
            Jun. 30 Bank CRJ3.3.1 11 600 -
    Selling Costs N2    
May 31 Trading Inventory DJ3.3.1 896 -            
Jun. 30 Trading Inventory DJ3.3.2 192 -            
  30 Trading Inventory CRJ3.3.1 9 280 -            

ACTIVITY 1

ASSIGNMENT 8

General Ledger of Marais Dealers

Table 9
    Balance Sheet Section      
Date Details Fol Amount   Date Details Fol Amount  
    Withdrawals B1    
Apr. 15 Bank CPJ3.4.1 500 -            
    Furniture and Equipment B2    
Apr. 18 Bank CPJ3.4.1 400 -            
    Vehicles B3    
Apr. 8 Creditors control CJ3.4.2 7 500 -            
    Trading Inventory B4    
March 31 Creditors control CJ3.4.1 2 340 -            
Apr. 30 Creditors control CJ3.4.2 1 317 -            
Apr. 30 Bank CPJ3.4.1 1 550 -            
    Bank B5    
            Apr. 30 Total Payments CPJ3.4.1 7 823 -
    Creditors Control B6    
Apr. 30 Bank CPJ14 3 568 - March 31 Sundry purchases CJ3.4.1 3 948 -
            Apr. 30 Sundry purchases CJ3.4.2 9 427 -
    Nominal Accounts Section      
    Wages N1    
Apr. 30 Bank CPJ3.4.1 210   -          
    Advertisements N2    
March 10 Creditors control CJ3.4.1 258 -            
Apr. 20 Bank CPJ3.4.1 235 -            
    Salary N3    
Apr. 30 Bank CPJ3.4.1 1 250 -            
    Stationery N4    
March 31 Creditors control CJ3.4.1 345 -            
Apr. 30 Creditors control CJ3.4.2 280 -            
    Vehicle Expenses N5    
March 31 Creditors control CJ3.4.1 380 -            
Apr. 30 Creditors control CJ3.4.2 330 -            
    Packaging Material N6    
March 31 Creditors control CJ3.4.1 625 -            
    Water and Electricity N7    
Apr. 6 Bank CPJ3.4.1 110 -            

ACTIVITY 1

ASSIGNMENT 9

General Ledger of Enslin Dealers

Table 10
    Balance Sheet Section      
Date Details Fol Amount   Date Details Fol Amount  
    Capital B1    
            Nov. 1 Bank CRJ3.4.1 20 000 -
              10 Bank CRJ3.4.1 10 000 -
                    30 000 -
    Withdrawals B2    
Nov. 21 Bank CPJ3.4.2 100 -            
    Vehicles B3    
Nov. 2 Bank CPJ3.4.2 7 800 -            
    Equipment B4    
Nov. 1 Creditors control CJ3.4.3 2 630 -            
  10 Bank CPJ3.4.2 1 310 -            
  30 Bank CPJ3.4.2 700 -            
        4 640 -            
    Trading Inventory B5    
Nov. 30 Bank CPJ3.4.2 1 720 - Nov. 30 Selling costs DJ3.4.1 1 960 -
  30 Creditors control CJ3.4.3 5 950 -   30 Selling costs CRJ3.4.1 3 000 -
              30 Balance b/f 2 710 -
        7 670 -         7 670 -
Dec. 1 Balance c/f 2 710 -            
    Debtors Control B6    
Nov. 30 Sales DJ3.4.1 2 750 -            
    Bank B7    
Nov. 30 Total Receipts CRJ3.4.1 33 750 - Nov. 30 Total Payments CPJ3.4.2 12 405 -
              30 Balance b/f 21 345 -
        33 750 -         33 750  
Dec. 1 Balance c/f 21 345 -           -
    Creditors Control B8    
            Nov. 30 Sundry Purchases CJ3.4.3 11 253 -
    Nominal Accounts Section      
    Sales N1    
            Nov. 30 Bank CRJ3.4.1 3 750 -
              30 Debtors control DJ3.4.1 2 750 -
                    6 500  
    Cost Price of Sales N2    
Nov. 30 Trading inventory CRJ3.4.1 3 000 -            
  30 Trading inventory DJ3.4.1 1 960 -            
        4 960 -            
    Wages N3    
Nov. 30 Bank CPJ3.4.2 300 -            
Table 11
    Stationery N4    
Nov. 30 Bank CPJ3.4.2 340 -            
  6 Creditors control CJ3.4.3 312 -            
        652 -            
    Telephone N5    
Nov. 15 Bank CPJ3.4.2 135 -            
    Packaging Material N6    
Nov. 30 Creditors control CJ3.4.3 1 740 -            
    Repairs N7    
Nov. 22 Creditors control CJ3.4.3 621 -            

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