Question 3
The following information for August 2025 relates to Jambo Traders.
Answer saved
Marked out of 1. The following information appeared in the bank reconciliation statement for July 2025,
3000
Bank reconciliation statement as at 31 July 2025
Debit [Credit
R R
Unfavourable balance as per the bank statement 22900
Outstanding deposit 305 150
Outstanding EFT no:
No. 309 7000
No.316 3000
(Credit correction of error 90!
Unfavourable balance as per bank account 30 50!
~ The following appeared in the cash journals, but not on the bank statement.
Outstanding deposit of R8 200
EFT 320 for R4 900 to MW for stationery purchased.
“The following information pertains to the bank reconciliation statement of July 2025
‘The outstanding EFT payments in the July reconciliation appear in the August 2025 bank statement
The error made by the bank during July 2025 was not corrected on the bank statement for August 2025.
‘The outstanding deposit 305 does not appear on the current bank statement for August 2025.
4. EFT315 (payment to the local municipality) for R1 100 appeared twice on the bank statement.
‘The following appeared on the bank statement but not in the cash journals.
A debit order for the monthly office rent R6 000.
+__Online sales amounting o R2 000
Bank charges ~ R800
6. Jambo Traders made an EFT payment of R12 400 for wages. The bookkeeper incorrectly entered the amount as R3 400 in the
cash payments journal,
7. Balances and subtotals at 31 August 2025.
Cash receipts journal R195 500
Cash payments journal R127 900
Favourable bank statement R16 500
REQUIRED:
Complete the following in the accounting records of Jambo Traders for the month ended on 31 August 2025:
+ The cash receipts and cash payments journals (bank columns only), properly totalled, for August 2025
+ The bank account in the general ledger, properly balanced, as at 31 August 2025
« The bank reconciliation statement as at 31 August 2025
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. An entry in the credit column of the bank reconciliation statement must be indicated by using a negative sign in front of the
amount (eg:-1000.01)
4. An entry i the debit column of the bank reconciliation statement must be indicated by the amount without any sign (eg:
1000.01)
,Hambo Traders
(Cash receipts journal - 31 August 2025
Date Details R
31 Subtotal [ 9550000
Cash Sales ] [ 2000.00
197500.00
Jambo Traders
Cash payments journal - 31 August 2025
Date Details R
31 subtotal 12790000
Bank charges J [ 800.00
Rent expense ] [ 6000.00
Wages (incorrect entry) [ 9000.00 (12400-3400)
14370000
or Bank B1 cr
Date Details Fol Amount Date Details Fol Amount
2025 R 2025 R
lug 1 Balance b/d 0 Aug 1 [Balance b/d 30500
1| Total receipts | CRJ | 197500.00 1| Total payments | Py | 14370000
Balance >/d o Balance c/d 23300
197500.00 197500.00
Sept 1 Balance b/d 23300 Sept[1 Balance b/d 0
Jambo Traders
Bank reconciliation statement as at 31 August 2025 | Debit/Credit
R
Balance per bank account 16500.00
Outstanding deposits 9700.00 (8200+1500)
, Y
Outstanding payments -4900.00
Correction of errors 1100.00
Balance per bank statement 23300
, Question 4 ‘Tyamo Traders is a registered VAT vendor and applies the principles of the perpetual inventory system.
Answer saved The following information was extracted from the financial records of Tyamo Traders on 30 June 2024.
Marked outof
800
TTYAMO TRADERS
EXTRACT FROM THE TRIAL BALANCE AS AT 30 JUNE
2024
Debit Credit
R R
Capital: S Tyamo (1 July 2023) 297 440)
Drawings 17 84
Loan receivable 323305
Inventory: Trading 35001
Additional information:
‘The following information must still be taken into account for the year ended 30 June 2024:
a) During the current financial year, the owner contributed an amount of R37 752. The accountant mistakenly didn't account for it
b) Revenue for the year amounted to R399 150
©) Cost of sales for the year amounted to R261 800
d) Distribution, administrative and other expenses for the year amounted to R109 480
Required:
Prepare the Statement of changes in equity for the year ended 30 June 2024
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.07)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. All amounts that will be deducted from the balance must be recorded with a negative sign in front of the amount (eg:
-1000.01)
4. When no amount needs to be entered in a column, then indicate this by entering "0" in the column.
Tyamo Traders
Statement of changes in equity for the year ended 30 June
2024
Capital
R
Balance as ax[ 1 July 2023 J [ 29744000 |
( Capital contribution ) " 37752.00
( Net profit for the year ] ( 27870.00 ) 3991 50_261 800,1 09480
Less: Drawings -17840.00 1
Balance as att 0due2024 | L 34522200 |
The following information for August 2025 relates to Jambo Traders.
Answer saved
Marked out of 1. The following information appeared in the bank reconciliation statement for July 2025,
3000
Bank reconciliation statement as at 31 July 2025
Debit [Credit
R R
Unfavourable balance as per the bank statement 22900
Outstanding deposit 305 150
Outstanding EFT no:
No. 309 7000
No.316 3000
(Credit correction of error 90!
Unfavourable balance as per bank account 30 50!
~ The following appeared in the cash journals, but not on the bank statement.
Outstanding deposit of R8 200
EFT 320 for R4 900 to MW for stationery purchased.
“The following information pertains to the bank reconciliation statement of July 2025
‘The outstanding EFT payments in the July reconciliation appear in the August 2025 bank statement
The error made by the bank during July 2025 was not corrected on the bank statement for August 2025.
‘The outstanding deposit 305 does not appear on the current bank statement for August 2025.
4. EFT315 (payment to the local municipality) for R1 100 appeared twice on the bank statement.
‘The following appeared on the bank statement but not in the cash journals.
A debit order for the monthly office rent R6 000.
+__Online sales amounting o R2 000
Bank charges ~ R800
6. Jambo Traders made an EFT payment of R12 400 for wages. The bookkeeper incorrectly entered the amount as R3 400 in the
cash payments journal,
7. Balances and subtotals at 31 August 2025.
Cash receipts journal R195 500
Cash payments journal R127 900
Favourable bank statement R16 500
REQUIRED:
Complete the following in the accounting records of Jambo Traders for the month ended on 31 August 2025:
+ The cash receipts and cash payments journals (bank columns only), properly totalled, for August 2025
+ The bank account in the general ledger, properly balanced, as at 31 August 2025
« The bank reconciliation statement as at 31 August 2025
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. An entry in the credit column of the bank reconciliation statement must be indicated by using a negative sign in front of the
amount (eg:-1000.01)
4. An entry i the debit column of the bank reconciliation statement must be indicated by the amount without any sign (eg:
1000.01)
,Hambo Traders
(Cash receipts journal - 31 August 2025
Date Details R
31 Subtotal [ 9550000
Cash Sales ] [ 2000.00
197500.00
Jambo Traders
Cash payments journal - 31 August 2025
Date Details R
31 subtotal 12790000
Bank charges J [ 800.00
Rent expense ] [ 6000.00
Wages (incorrect entry) [ 9000.00 (12400-3400)
14370000
or Bank B1 cr
Date Details Fol Amount Date Details Fol Amount
2025 R 2025 R
lug 1 Balance b/d 0 Aug 1 [Balance b/d 30500
1| Total receipts | CRJ | 197500.00 1| Total payments | Py | 14370000
Balance >/d o Balance c/d 23300
197500.00 197500.00
Sept 1 Balance b/d 23300 Sept[1 Balance b/d 0
Jambo Traders
Bank reconciliation statement as at 31 August 2025 | Debit/Credit
R
Balance per bank account 16500.00
Outstanding deposits 9700.00 (8200+1500)
, Y
Outstanding payments -4900.00
Correction of errors 1100.00
Balance per bank statement 23300
, Question 4 ‘Tyamo Traders is a registered VAT vendor and applies the principles of the perpetual inventory system.
Answer saved The following information was extracted from the financial records of Tyamo Traders on 30 June 2024.
Marked outof
800
TTYAMO TRADERS
EXTRACT FROM THE TRIAL BALANCE AS AT 30 JUNE
2024
Debit Credit
R R
Capital: S Tyamo (1 July 2023) 297 440)
Drawings 17 84
Loan receivable 323305
Inventory: Trading 35001
Additional information:
‘The following information must still be taken into account for the year ended 30 June 2024:
a) During the current financial year, the owner contributed an amount of R37 752. The accountant mistakenly didn't account for it
b) Revenue for the year amounted to R399 150
©) Cost of sales for the year amounted to R261 800
d) Distribution, administrative and other expenses for the year amounted to R109 480
Required:
Prepare the Statement of changes in equity for the year ended 30 June 2024
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.07)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. All amounts that will be deducted from the balance must be recorded with a negative sign in front of the amount (eg:
-1000.01)
4. When no amount needs to be entered in a column, then indicate this by entering "0" in the column.
Tyamo Traders
Statement of changes in equity for the year ended 30 June
2024
Capital
R
Balance as ax[ 1 July 2023 J [ 29744000 |
( Capital contribution ) " 37752.00
( Net profit for the year ] ( 27870.00 ) 3991 50_261 800,1 09480
Less: Drawings -17840.00 1
Balance as att 0due2024 | L 34522200 |
