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Economic and management sciences

Grade 9

Business, consumer and financial knowledge and skills

Module 22

Transferring the auxilliary journals to the ledger

ACTIVITY 1:

To transfer the auxiliary journals to the ledger

[LO 3.3]

Once the entries in the auxiliary journals have been completed, all the information is transferred to the ledger.

The column totals of the CRJ are transferred on the last day of the month and the entries in the sundries column are transferred individually on the date of the entry.

Cash received by a service enterprise is transferred as follows to the CRJ:

1. Bank account – debit with the total cash received (Asset increases on the debit side).

2. Current Income account – credit with the total for the month (Ownership interest increases on the credit side).

3. Capital account – credit with the capital amount deposited (Ownership interest increases on the credit side).

The names of the other accounts involved appear in the “details” column of the ledger.

In the case of the bank account - capital and current income (total receipts)In the case of the capital account - bankIn the case of the current income account - bank

ASSIGNMENT 1: Transfer of the CRJ in a Service Enterprise

  • Use the completed CRJ of Mzondi Plumbers (Activity 3.1 Assignment 1) and transfer the CRJ to the ledger. (Supply your own ledger paper to complete the activity.)

ASSIGNMENT 2: Transfer of the CRJ in a Commercial Enterprise

  • Use the completed CRJ of Levubu Dealers (Activity 3.1 Assignment 2) and transfer the CRJ. (Supply your own ledger paper to complete the activity.)
  • The same principles apply. The transfer is done as follows:

1. Bank account – debit with the total receipts for the month (Asset increases on the debit side.)

2. Capital account – credit with all capital deposited during the month(Ownership interest increases on the credit side.)

3. Sales account – credit with the sales for the month(Ownership interest increases on the credit side.)

4. Selling costs – debit with the amount for the month(Ownership interest decreases on the debit side.)

5. Trading inventory – credit with cost price of the sales amount(Asset decreases on the credit side.)

Bank account – Double entry is total receipts

Capital – Double entry is bank accountSales – Double entry is bank account

Selling costs – Double entry is trading inventory

ASSIGNMENT 3: transfer of the CPJ

  • Use the completed journals of Levubu Dealers (Activity 3.1 Assignment 2) and transfer the CPJ. (Supply your own ledger paper.)
  • The total of the bank column and all the other columns is transferred on the last day of the month. The entries in the sundries column are transferred as individual amounts to the specific account on the date of the entry.
  • The transfer is done as follows:

1. Bank account – credit with the total payments for the month(Asset decreases on the credit side.)

2. Assets purchased for cash – debit every asset separately with the relevant amount(Assets increase on the debit side.)

3. Expenditure paid by cheque – debit each expenditure separately with the relevant amount(Ownership interest decreases on the debit side.)

Questions & Answers

Application of nanotechnology in medicine
what is variations in raman spectra for nanomaterials
Jyoti Reply
I only see partial conversation and what's the question here!
Crow Reply
what about nanotechnology for water purification
RAW Reply
please someone correct me if I'm wrong but I think one can use nanoparticles, specially silver nanoparticles for water treatment.
Damian
yes that's correct
Professor
I think
Professor
what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
Rafiq
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
Damian
How we are making nano material?
LITNING Reply
what is a peer
LITNING Reply
What is meant by 'nano scale'?
LITNING Reply
What is STMs full form?
LITNING
scanning tunneling microscope
Sahil
how nano science is used for hydrophobicity
Santosh
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
Rafiq
what is differents between GO and RGO?
Mahi
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
Rafiq
if virus is killing to make ARTIFICIAL DNA OF GRAPHENE FOR KILLED THE VIRUS .THIS IS OUR ASSUMPTION
Anam
analytical skills graphene is prepared to kill any type viruses .
Anam
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
Bob
The nanotechnology is as new science, to scale nanometric
brayan
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Damian
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
Renato
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
?
Kyle
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
Adin
why?
Adin
what school?
Kyle
biomolecules are e building blocks of every organics and inorganic materials.
Joe
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
research.net
kanaga
sciencedirect big data base
Ernesto
Introduction about quantum dots in nanotechnology
Praveena Reply
hi
Loga
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Bharti
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic and management sciences grade 9. OpenStax CNX. Sep 15, 2009 Download for free at http://cnx.org/content/col11074/1.1
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