Revision of CRJ and CPJ
Financial Literacy: Combined transactions in CRJ and CPJ
Activity 9:
Mr Jason Josephs started a garden service business on 1 May 2012, called J&J Gardens. He needs your help to keep track of his finances.
Record the following transactions in the relevant cash journals for May 2012
1. Complete the Cash Receipts Journal (CRJ1) for October 2012 with analysis columns for Analysis of Receipts, Bank, Current Income and Sundry Accounts.
2. Complete the Cash Payments Journal (CPJ1) for October 2012 with analysis columns for Bank, Wages, Equipment and Sundry Accounts.
3. Close off the Journals.
Transactions for May 2020.
1. Jason made a direct deposit of R50 000 in the business Current Bank account as capital contribution (Rec X1).
3. Paid Sheffield Properties R3 500 for rent of the business premises (CC50).
5. Issued a cheque to Landscape Suppliers for R9 400. R8 600 is for equipment and the balance for consumable stores.
7. Issued a cash cheque of R4 000 to pay his staff.
11. Three customers had their gardens mowed and cleaned at a cost of R600 each (CRT 1-3).
14. Paid staff their wages.
16. Received R4 200 from seven happy customers (CRT 4-10)
18. Paid R400 to Fine Liners for an advertisement.
21. A good week led to 14 customers using his services, and each paid R600 (CRT 11-25)
24. Cashed a cheque for wages.
26. Due to a good response from the advertisement, 23 customers each paid R600 for work completed (CRT 25 -48).
28. Jason needed more garden equipment; he paid R4 200 to Landscape Suppliers.
30. Paid the weekly wages.
31. Issued a cheque of R1 200 to Telkom. R900 was for the business telephone and the balance was for his private telephone.
Lesson Files
Lesson Questions
Answer sheets:
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Details |
Fol |
Analysis of Receipts |
Bank |
Current Income |
Sundry Accounts |
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Amount |
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Name of Payee |
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Bank |
Wages |
Equipment |
Sundry Account |
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Amount |
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