Cash Payments Journal

**Simimano** · 05-Mar-13, 06:56 PM

I posted my reply about 2 hours ago with all the details (Instructions, Example and information about the task), but since they are images, I'll have to wait until one of the moderators have approved the post. So check back soon!

**Dave A** · 05-Mar-13, 07:57 PM

Originally Posted by Simimano

I posted my reply about 2 hours ago with all the details (Instructions, Example and information about the task), but since they are images, I'll have to wait until one of the moderators have approved the post. So check back soon!

Sorted.

I soft deleted all the duplicates - but they're still around in the back room if one of them wasn't actually a dulicate.

**Simimano** · 05-Mar-13, 08:19 PM

Thanks!

No, the other two were duplicates..I was paranoid and could not figure out why my post was not showing, since I don't usually post images so I didn't know a mod has to check them..so I tried again and well again.

**Elijah** · 05-Mar-13, 08:48 PM

Instructions point 2 says "Enter the Transactions for July 2010 in the CRJ and CPJ", But there are no transactions given, thats why you confused about the R1800 in Drawings. You can however still open all the other ledger accounts and enter the opening balances taken from the Trial Balance on 30 June 2010, so first carry out the first Instruction given i.e "Open the General Ledger accounts using data in the Trial balance on 30 June, then find out where the transaction for the CPJ and CRJ are, "This is the missing data" Enter these transaction in the Cashbook journals [CPJ and CRJ]. Then post these to their respective ledger accounts, close off the Ledger accounts then extract your next trial balance end of July 2010.

The aim of this task is to show you how data flows in an Accounting Cycle over a period of a Month.

Just keep in mind all the time that your TB must balance, so whatever is Credit in 1 ledger account will show as a debit in another ledger account, if you look at the R120,000 in the Capital a/c it is a Credit, so you must enter it as a debit in the Bank a/c
So with the info given so far, you will open the Bank a/c with R23,900 [from the June 30 TB] and you enter the R120,000 as a debit in Bank a/c and R1,800 as a credit in Bank a/c.

**Simimano** · 06-Mar-13, 08:58 AM

Goodmorning

Thanks a lot for the explanation!

I have a better idea now of what to do, The general ledger ( First instruction) Was straight forward and simple, Lets take Sales for an example;

The total sales they made was R1 424 000, Right, easy we fill that in, in the sales section. Once I have done that all time to complete the CPJ and CRJ,

Your explanation got me thinking..

This is missing data..I'd have to make sums to get the amount for the CJP & CRJ?

That's all I can figure, no more data is provided.

What exactly do you mean by " then find out where the transaction for the CPJ and CRJ are" ?

**Elijah** · 06-Mar-13, 09:09 AM

What exactly do you mean by " then find out where the transaction for the CPJ and CRJ are" ?

Well, I would have expected more transaction for the CPJ and the CRJ, cause this is what would happen in the real world. But if thats all you given then the task is even easier and your TB should balance.

**Simimano** · 06-Mar-13, 11:13 AM

I expected the information to be provided as well..

I love understanding whatever I am doing to the full, such as this subject and right now I cannot really do so..I am confused because the missing data may just have been forgotten since the book does have about 168 pages, But I highly doubt that.

I don't really see it being easier..Now I don't know how to get the values for each CPJ and CRJ, I could just make it balance somehow..though compared to the memo even then it would probably be incorrect..Gahh!!

I should probably just do the general ledger, then try and figure where the CJP and CRJ values can come from.

If only this book could talk..

**CLIVE-TRIANGLE** · 06-Mar-13, 01:24 PM

Simimano, the problem is that you have not posted the July entries. Q2 requires that you enter them in the two journals, but you have none in the pages that you posted.