FAC1503
EXAM PACK
1
, FINANCIAL
ACCOUNTING
PINCIPLES FOR
LAW
PRACTITIONERS
2
,OCTOBER –
NOVEMBER
2017
3
, SOLUTION 1: SUBSIDIARY JOURNALS
EXPRESS SERVICES SUPPLIES
(a) CASH RECEIPTS JOURNAL – APRIL 2017
Date Details Bank Sales Trade Services VAT Sundry accounts
Receivables rendered Output
Control
Amount Details
R R R R R R
13 Cash Sales (i) 1 482 1 300 182
28 S Smith 400 400
30 Services rendered 5 700 5 000 700
(i) Cash Sales – 13 April
R
Total Sales 1 482
14 (182)
VAT Output (1 482 ∗ )
114
Sales 1 300
(ii) April 30 Services rendered
R
Total Services rendered 5 700
14 (700)
VAT Output (1 482 ∗ 114)
Services rendered 5 000
(b) CASH PAYMENTS JOURNAL – APRIL 2017
Date Details Bank Purchases Trade VAT Sundry Accounts
Payables Input
Control
Amount Details
R R R R R
15 Copu Traders 700 700
26 Cash Purchases (ii) 1 539 1 350 189
30 Wages 3 600 3 600 Wages
4
EXAM PACK
1
, FINANCIAL
ACCOUNTING
PINCIPLES FOR
LAW
PRACTITIONERS
2
,OCTOBER –
NOVEMBER
2017
3
, SOLUTION 1: SUBSIDIARY JOURNALS
EXPRESS SERVICES SUPPLIES
(a) CASH RECEIPTS JOURNAL – APRIL 2017
Date Details Bank Sales Trade Services VAT Sundry accounts
Receivables rendered Output
Control
Amount Details
R R R R R R
13 Cash Sales (i) 1 482 1 300 182
28 S Smith 400 400
30 Services rendered 5 700 5 000 700
(i) Cash Sales – 13 April
R
Total Sales 1 482
14 (182)
VAT Output (1 482 ∗ )
114
Sales 1 300
(ii) April 30 Services rendered
R
Total Services rendered 5 700
14 (700)
VAT Output (1 482 ∗ 114)
Services rendered 5 000
(b) CASH PAYMENTS JOURNAL – APRIL 2017
Date Details Bank Purchases Trade VAT Sundry Accounts
Payables Input
Control
Amount Details
R R R R R
15 Copu Traders 700 700
26 Cash Purchases (ii) 1 539 1 350 189
30 Wages 3 600 3 600 Wages
4
