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It should be fairly easy to obtain some old sales invoices to show to the students. Compare the layouts on
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the different invoices.
The steps for posting credit sales to the sales ledger and general ledger are shown on p. 121.
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Trade discounts are used only as a means of calculating the selling price. As such they are not entered
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into double entry accounts. The only place they might appear is on the face of a sales invoice.
Students should be able to distinguish between trade debtors and non-trade debtors because different
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books are used for recording transactions with them.
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Answers to MCQs and exercises
12.1 C 12.2 B 12.3 D 12.4 D 12.5 A 12.6 D 12.7 C
12.8
Sales Journal
20X6 $
Mar 1 Gold Wheel Ltd 187
" 3 T Au 166
" 6 W Wong 12
" 10 Gold Wheel Ltd 55
" 17 Y Wan 289
" 19 Rainbow Ltd 66
" 27 V Wong 28
" 31 Y Sin 78
" 31 Transferred to sales account 881
Sales Ledger
Gold Wheel Ltd
20X6 $
Mar 1 Sales 187
" 10 Sales 55
T Au
20X6 $
Mar 3 Sales 166
W Wong
20X6 $
Mar 6 Sales 12
Y Wan
20X6 $
Mar 17 Sales 289
Rainbow Ltd
20X6 $
Mar 19 Sales 66
V Wong
20X6 $
Mar 27 Sales 28
Y Sin
20X6 $
Mar 31 Sales 78
General Ledger
Sales
20X6 $
Mar 31 Total for the month 881
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12.9X
Sales Journal
20X6 $
May 1 C Chen 305
" 3 T Yuen 164
" 5 B Ho 45
" 7 M Lee 100
" 16 K Kwong Ltd 308
" 23 Victory Ltd 212
" 30 T Sang 1,296
" 31 Transferred to sales account 2,430
Sales Ledger
C Chen
20X6 $
May 1 Sales 305
T Yuen
20X6 $
May 3 Sales 164
B Ho
20X6 $
May 5 Sales 45
M Lee
20X6 $
May 7 Sales 100
K Kwong Ltd
20X6 $
May 16 Sales 308
Victory Ltd
20X6 $
May 23 Sales 212
T Sang
20X6 $
May 30 Sales 1,296
General Ledger
Sales
20X6 $
May 31 Total for the month 2,430
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12.10
(a) 20X7 $ $ $
May 1 C Wing 3 rolls white tape × $10 = 30
5 sheets blue cotton × $6 = 30
1 dress length black silk × $20 = 20 80
Less Trade discount 25% 20 60
Sales Ledger
C Wing
20X7 $
May 1 Sales 60
W Tsang Ltd
20X7 $
May 4 Sales 120
W Au
20X7 $
May 20 Sales 180
K Chan
20X7 $
May 31 Sales 160
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12.11X
(a) Invoice summaries:
20X5
Jun 1 T Ping Co $
22 metres plastic tubing × $1 22
6 sheets foam rubber × $3 18
4 boxes vinyl padding × $5 20
60
Less Trade discount 25% 15
45
" 2 K Ho
50 lengths polythene sheeting × $2 100
8 boxes vinyl padding × $5 40
20 sheets foam rubber × $3 60
200
Less Trade discount 20% 40
160
" 11 Y Lee
4 metres plastic tubing × $1 4
33 lengths polythene sheeting × $2 66
30 sheets foam rubber × $3 90
160
Less Trade discount 25% 40
120
" 21 K Liu
29 metres plastic tubing × $1 29
Sales Ledger
T Ping Co
20X5 $
Jun 1 Sales 45
K Ho
20X5 $
Jun 2 Sales 160
63
Y Lee
20X5 $
Jun 11 Sales 120
K Liu
20X5 $
Jun 21 Sales 29
Hon Wing Co
20X5 $
Jun 30 Sales 120
12.12
(a) Sales Journal
Date Details Amount
20X8 $
May 1 T Tung 160
" 9 K Ming ($800 × 0.8) 640
" 13 K Mok ($420 × 0.9) 378
" 31 Transferred to sales account 1,178
T Tung
20X8 $ 20X8 $
May 1 Balance b/f 360 May 31 Balance c/f 520
" 1 Sales 160
520 520
K Ming
20X8 $ 20X8 $
May 1 Balance b/f 2,080 May 16 Bank 2,080
" 9 Sales 640 " 31 Balance c/f 640
2,720 2,720
K Mok
20X8 $ 20X8 $
May 13 Sales 378 May 31 Cash 189
" 31 Balance c/f 189
378 378
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12.13X
(a) Sales Journal
20X9 $
Jul 5 C Fong Ltd ($950 × 0.8) 760
" 9 W Wing ($1,200 × 0.7) 840
" 14 C Fong Ltd ($350 × 0.9) 315
" 18 T Sin ($1,600 × 0.7) 1,120
" 31 Transferred to sales account 3,035
S Chan
20X9 $ 20X9 $
Jul 1 Balance b/f 120 Jul 11 Cash 40
" 31 Balance c/f 80
120 120
T Sin
20X9 $ 20X9 $
Jul 1 Balance b/f 8,000 Jul 30 Cash 2,000
" 18 Sales 1,120 " 31 Balance c/f 7,120
9,120 9,120
C Fong Ltd
20X9 $ 20X9 $
Jul 1 Balance b/f 1,200 Jul 31 Balance c/f 2,275
" 5 Sales 760
" 14 Sales 315
2,275 2,275
W Wing
20X9 $ 20X9 $
Jul 9 Sales 840 Jul 31 Balance c/f 840
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12.14
Sales Analysis Book
Total Britain Far East USA
20X8 $ $ $ $
May 1 H K Hiram 119 119
" 3 P Osaki 288 288
" 5 B Hardcastle 249 249
" 10 A Smith 44 44
" 15 T Roosevelt 387 387
" 17 L Nakamura 84 84
" 19 C Rockefelles 219 219
" 28 I Aoki 188 188
" 31 S Chang 572 572
2,150 293 1,132 725
12.15X
(a) Sales Anaysis Book
Date Details Total Glass China Miscellaneous
20X6 $ $ $ $
Dec 4 M Kin 1,006 850 156*
" 17 D Tiu 75 75
" 20 P Young 176 72 84 20
1,257 147 934 176
*Buckets $60 + Pans $96 = $156
D Tiu
20X6 $
Dec 17 Sales 75
P Young
20X6 $
Dec 20 Sales 176
General Ledger
Sales: Glass
20X6 $
Dec 31 Total for the month 147
Sales: China
20X6 $
Dec 31 Total for the month 934
Sales: Miscellaneous
20X6 $
Dec 31 Total for the month 176
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