REQUIRED
Complete the following accounts in the General Ledger:
Balance sheet section
Raw material stock, Work in progress stock, Finished goods stock, Consumable stores
on hand.
Nominal account section
Sales, Cost of sales, Raw materials issued, Consumable stores, Carriage on purchases,
Salaries and wages, Rent, Electricity, Fuel, Marketing, UIF, Skills development levy,
Repairs and maintenance, Bad debts, Commission: Sales rep, Depreciation, Rates and
taxes, Stationery, Insurance, Telephone
Cost accounts section
Direct material cost, Direct labour cost, Factory overheads cost, Administrative cost,
Sales and distribution cost
Final accounts section
Trading account, Profit and loss account
INFORMATION
2022 2023
Raw materials 42 500 51 900
Consumable stores on hand 1 800 2 150
Work in progress stock 22 000 19 500
Finished goods stock 53 700 49 080
The following balances appeared in the General Ledger on 31 Dec 2023
Sales 1 250 000
Bad debts 2 000
Repairs and maintenance 51 300
Factory machines 39 000
Office printer 2 500
Delivery vehicle 9 800
Commission: Sales rep 4 320
Fuel: delivery vehicle 29 200
Salaries and wages 390 000
Office personnel 95 000
Factory operators 135 000
Factory manager 100 000
Delivery personnel 60 000
UIF (Factory operators) 10 100
Skills development levy (Factory operators) 13 500
Advertising 15 600
Rent expense 65 000
Factory 50 000
Offices 15 000
Rates 6 300
Factory 4 000
Office 2 300
Depreciation 41 700
Factory equipment 20 500
Office equipment 8 900
Delivery vehicles 12 300
Electricity 14 410
Factory 11 210
Offices 3 200
Stationery (Office) 5 400
Insurance 18 100
Factory 13 900
Offices 4 200
Telephone (Office) 13 000
Additional information
• The business purchased raw material during the financial year:
Credit R350 000
Cash R120 000
Carriage on Purchases R5 400
• Packaging material (Indirect cost) of R59 000 was purchased during the financial
year.
• Raw material of R466 000 and packaging material (indirect cost) of R58 650 was
issued to the factory during the financial year.
• The value of finished goods transferred from the factory to the storage
warehouse was R910 460
• Goods to the value of R915 080 were sold during the financial year.