Is this correct The Cash Recelpts Journal was extracted from the books of Cynoh Traders.Balances/totals in the General Ledger on 1 January 2021:Capital R250 000:Trading Stock R88 000:Loan: CB Bank R150 000;Sales R4 500:Bank (Cr) R5 000:Cost of Sales R1 500:Commission income R2 000REQUIREDPost to the accounts in the General Ledger as provided on the Answer sheet.Balance the Balance Sheet accounts ONLY,Cash Receipts Journal of Cynoh Traders - January 2021Doe NoCRJ3DetailsFol Analysis of BankReceiptsSalesCostof salesAmount80 00040 000Sundry accnuntsDetailsCaoitalFolR01R02CRT1CRT2RO3Cynoh| CH Bank380 C0040 0001 0002 000Toan Ca Bark41215SalesSalesAmy Stores10002 0005001 0002 0006001 100R03500CommissionincomeCRT3CRT4Sales21 SalesAmy Stores4 0001 0004 5001 0004 0001 0002 100900R0429Commission120120incomeСупoh30 SalesCB BankCynohR05CRT 5B/S5 0005 1205 000Capital3 0003 0001 800503 05050Interest onfoxed deposit136 67011 000125 670ACTIVITY 2: ANSWER SHEETGENERAL LEDGER OF CYNOH TRADERSBalance Sheet Account SectionCAPITALDRJan 3 BankB1CRCRJ EO COo JanBalance29 BankICRJ, | 250 000ICRJ. GO00Feb Balarce cld255 O00Feb Balance bld175C00BANKJan 31 tal ieceipts CRJ 136 67o JanB3FelBailance131670136670136 L70Feb Balcnce bld1316 1013edo Pau Traders Al ther producta are mated at 100% on costps Joumal lor January 2021.

Amounts are transferred or recorded into respective ledger accounts is the activity which are…

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Business

Accounting

Is this correct

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 4QY: What is the journal entry to record an NSF check, from J. Smith for 250, that is returned with the...

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Concept explainers

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Is this correct

The Cash Recelpts Journal was extracted from the books of Cynoh Traders.
Balances/totals in the General Ledger on 1 January 2021:
Capital R250 000:
Trading Stock R88 000:
Loan: CB Bank R150 000;
Sales R4 500:
Bank (Cr) R5 000:
Cost of Sales R1 500:
Commission income R2 000
REQUIRED
Post to the accounts in the General Ledger as provided on the Answer sheet.
Balance the Balance Sheet accounts ONLY,
Cash Receipts Journal of Cynoh Traders - January 2021
Doe No
CRJ3
Details
Fol Analysis of Bank
Receipts
Sales
Cost
of sales
Amount
80 000
40 000
Sundry accnunts
Details
Caoital
Fol
R01
R02
CRT1
CRT2
RO3
Cynoh
| CH Bank
3
80 C00
40 000
1 000
2 000
Toan Ca Bark
4
12
15
Sales
Sales
Amy Stores
1000
2 000
500
1 000
2 000
600
1 100
R03
500
Commission
income
CRT3
CRT4
Sales
21 Sales
Amy Stores
4 000
1 000
4 500
1 000
4 000
1 000
2 100
900
R04
29
Commission
120
120
income
Супoh
30 Sales
CB Bank
Cynoh
R05
CRT 5
B/S
5 000
5 120
5 000
Capital
3 000
3 000
1 800
50
3 050
50
Interest on
foxed deposit
136 670
11 000
125 670
ACTIVITY 2: ANSWER SHEET
GENERAL LEDGER OF CYNOH TRADERS
Balance Sheet Account Section
CAPITAL
DR
Jan 3 Bank
B1
CR
CRJ EO COo Jan
Balance
29 Bank
ICRJ, | 250 000
ICRJ. GO00
Feb Balarce cld
255 O00
Feb Balance bld
175C00
BANK
Jan 31 tal ieceipts CRJ 136 67o Jan
B3
Fel
Bailance
131670
136670
136 L70
Feb Balcnce bld
1316 10
13
ed
o Pau Traders Al ther producta are mated at 100% on cost
ps Joumal lor January 2021.

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