Posters
ECONOMIC AND MANAGEMENT SCIENCES GRADES 7–9
Poster pack (10 posters and Teacher’s Guide) Poster 1: Names and types of accounts Poster 2: Cash journals (services) Poster 3: Cash journals (retail) Poster 4: General Ledger Poster 5: Debtors Poster 6: Creditors
Poster 7: The accounting cycle Poster 8: Forms of ownership Poster 9: The circular flow Poster 10: Price theory Teacher’s Guide
Plakkaatstel (10 Plakkate en Onderwysersgids) Plakkaat 1: Name en soorte rekeninge Plakkaat 2: Kontantjoernale (Diens)
Plakkaat 3: Kontantjoernale (Kleinhandel) Plakkaat 4: Algemene grootboek Plakkaat 5: Debiteure Plakkaat 6: Krediteure
Plakkaat 7: Die rekeningkundige siklus Plakkaat 8: Ondernemingsvorme Plakkaat 9: Die kringloop Plakkaat 10: Prysteorie Onderwysersgids
978 0 19 040921 0 978 0 19 042583 8 978 0 19 042532 6 978 0 19 043248 5 978 0 19 042967 6 978 0 19 044114 2 978 0 19 042952 2 978 0 19 043394 9 978 0 19 043276 8 978 0 19 043700 8 978 0 19 044108 1 978 0 19 042373 5
978 0 19 040482 6 978 0 19 044224 8 978 0 19 042559 3 978 0 19 043540 0 978 0 19 042801 3 978 0 19 043849 4 978 0 19 043536 3 978 0 19 042645 3 978 0 19 043579 0 978 0 19 044016 9 978 0 19 043782 4 978 0 19 042748 1
RESOURCES
Also available in Afrikaans
Cash Journals (service)
Transactions Cuts & Curls is a hairdressing salon in Pretoria. They had the following transactions for June 2015: 2 Cut and styled hair for Jocelyn and received R800. 7 Purchased stationery for the office from Sharpie, R210. Issued cheque 81. 15 Paid wages for the week, R1 500. 28 Received rent from Arnold, R1 020. He rents part of the building to use as a repair shop. Issued receipt 94. 28 Sold an old cash register to Naledi. Received R340 from her. 30 Purchased two chairs for the waiting room at R150 each from Homeware and paid by cheque.
Transactions which do not fit into the available columns
Cash Receipts Journal of Cuts & Curls for June 2015
Doc no Day Details Fol
CRR1 2
Services rendered
R94 28 Arnold R95 28 Naledi
Day of the transaction
Source document
Analysis of receipts Bank
800 00 1 020 00
340 00 1 360 00 2 160 00
Name of the person from whom money was received
Each amount received
Total amount received each day
800 00
Current income
800 00
1 020 00 340 00
800 00 1 360 00
Amounts received for services rendered
Amount of money received other than for services rendered
Name of the other account affected by the transaction
Transactions which do not fit into the available columns
Cash Payments Journal of Cuts & Curls for June 2015
Doc no Day
C81 7 Sharpie C82 15 Cash
Name of payee Fol Bank Wages Stationery 210 00
C83 30 Homeware
Day of the transaction
Source document
1 500 00 1 500 00 300 00
2 010 00 1 500 00
Each amount paid is entered separately
210 00 Sundry accounts Amount Fol Details 210 00
300 00 300 00
Amount of money paid other than for stationery and wages
Equipment
Name of the other account affected by the transaction
Posting to the General Ledger Step 1
Step 2
Open accounts in order
Enter the opening balances
+side/ 1st day Cheque counterfoil Cheque Cash register slip Step 3
Cash Receipts Journal
Step 4
Cash Payments Journal
Step 5
Balance and total
CPJ1
Account has its own column in the journals: one total amount on the last day of the month.
Account appears in the sundry accounts columns: separate entries on the day of the transaction.
Enter one of the following: Balance [Name of the other account affected]
Total receipts Total payments
Enter one of the following: b/d c/d CRJ CPJ
Rent Income Equipment
July Sundry accounts Amount Fol Details 2015 June 1 Balance 1 Balance b/d b/d CRJ1 July
Debit is always on the left-hand side
Dr General Ledger of Zinzi’s Clothing Store
Year/ month Day Details Fol Amount
2015 June 1 Balance 30 Bank
30 30
Creditors Control Debtors
Allowances 1 Balance b/d b/d
CPJ CJ
Balance sheet section Trading Stock
7 680 00 160 00
23 300 00 10 800 00
Bank
30 Total receipts CRJ 96 600 00 107 840 00 94 510 00
B7
11 240 00 2015 June 30 Total payments CPJ 13 330 00 Balance
c/d
94 510 00 107 840 00
Nominal section Sales
2015 June 1 Balance 30 Bank
Creditors Control
B6
8 660 00 2015 June 30 Cost of sales CRJ 6 800 00
30 Cost of sales DJ 30
30 Balance
CAJ c/d
8 400 00 3 210 00
890 00
10 800 00 23 300 00
6
Financial statements
Summaries of the business financials at the end of each year
12-month period
5 N1 b/d 30 Debtors Control DJ 9 860 00 CRJ 11 200 00
4 560 00 25 620 00
Trial balance
List of the accounts and their balances from the General Ledger used to determine the success of the business
4 Ledgers
Books that summarise the information from the journals and show the effect of the month on each account General Ledger
Debtors Ledger Creditors Ledger
3 Journals
Books that summarise the information from all the source documents Cash Receipts Journal
Cash Payments Journal Debtors Journal
Debtors Allowances Journal
Creditors Journal
Creditors Allowances Journal
General Ledger
Credit is always on the right-hand side
Cr
Year/ Month Day Details Fol Amount
7
Analysis and interpretation
Owners and investors evaluate the financial statements to make business decisions
The accounting cycle 1 Transactions
The process of buying or selling a product or service
Two types of transactions income: in which the business receives money expenses: in which the business pays money
2 Source document
Proof of the transaction, such as a receipt or cheque counterfoil
Source documents Invoice RECEIPT No. 459
Received from Ms T King Cash Cheque EFT For carpet cleaning
x
Amount (in words) five hundred rand only ____________________________________
Received by: Kelvin B Receipt R 500 00 Bank deposit slip
Names and types of accounts AL =+ OE Assets
The belongings and possessions of a business that have a monetary value
Non-current assets (> 12 months) land and buildings
equipment fixed deposit
Current assets (< 12 months) trading stock
debtors control bank cash float
Income sales
current income rent income
Expenses cost of sales
water and electricity insurance consumable stores advertising
salaries and wages repairs telephone etc.
Owner’s equity
The value of the assets minus the value of the liabilities
Capital Drawings
Liabilities
The debts that a business or individual has to pay
Non-current liabilities (> 12 months) loans
Current liabilities (< 12 months) creditors control
short-term loans bank overdraft
92 Oxford University Press South Africa
OxfordSASchools
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