general ledger, Cost Accounting

Assignment Help:
Jp Rhodes started a bowling club called " bowl them over". The following transactions took place 4 March 2012.

1. Bowling LTD transferred R20 000 bank account of the club as an initial donation.
2. Jonty borrowed a further R12000 frm Century bank @ an interest of 5% per annum 3. Purchase land & buildings for R100 000 A 10% deposit was paid and lords building Society granted & a mortgage loan for the outstanding amount An invoice for R17500 was received from Lanes R US Ltd for the erection of the new bowling lane.
4. Bowling balls were bought frm Ten Pin Limited for R6 150 on credit 5.A manager was appointed & JP agreed to pay him R7500 @ the end of each month 6. Advertisement costing R750 cash was placed in the local newspaper.
7. Score sheets were printed @ Howzat limited for R500 cash.
8. A computer system supplied by computa ltd was installed for R7200.
The account will only be settled in November 20 members joined the club & each paid their membership fees of R500.

20. Settled 1/3 of ten pin limited account

30. The managers salary was paid by cheque

Required
A. Record the above transactions in the general ledger

Related Discussions:- general ledger

Physical measure and net realizable value, Physical Measure and Net Realiza...

Physical Measure and Net Realizable Value Physical Measure/Unit Joint costs are assigned to the joint products according to the ratio of physical measurement of the outpu

Determine taxable profit, While on a business trip to Texas, David attended...

While on a business trip to Texas, David attended a mortgage foreclosure auction. At the auction (held on February 4, 1999), he acquired an abandoned sugarcane farm near Pearland.

What are the total units to be accounted for on the cost of, The Butchering...

The Butchering Department of the Santa Fe Meat Packing Corporation (a process costing corporation, FIFO costing) had 1,500 units, 1/3 completed at the beginning of the period and 1

How would i calculate the debt amortization, How would I calculate the debt...

How would I calculate the debt amortization for a bond issued at discount with a maturity of 12 years, market interest rate at issue 10% annually, 5% semi annually, and has a state

Organization of budgetary control, Organization of Budgetary Control B...

Organization of Budgetary Control Budgetary control ideally includes the given steps as: 1. The creation of budget centres. 2. The introduction of sufficient

Cost Accountng, a local government autority owns and operates a leisure cen...

a local government autority owns and operates a leisure center with numerous sporting facilities , residential accomodation , a cafeterial and a sports shop. the summer season last

Depreciation (to be computed) by slm method, sabonis consmetics co. purchas...

sabonis consmetics co. purchased machinery on december 31,2011, paying $50,000 down and agreeing to pay the balance in four equal installments of $40,000 payable each dec 31. an as

Marginal costing and differential costing, MARGINAL COSTING AND DIFFERENTIA...

MARGINAL COSTING AND DIFFERENTIAL COSTING 1.     Differential costing can be used both in case of marginal costing and absorption costing. 2.     In case of marginal costing

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd