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Home / Questions / The following are miscellaneous transactions for Sliced Lemon for March 2019. Ignore VAT.

The following are miscellaneous transactions for Sliced Lemon for March 2019. Ignore VAT.

The following are miscellaneous transactions for Sliced Lemon for March 2019. Ignore VAT. The business uses
the perpetual inventory method with a mark-up of 25 % on cost.
Date Transaction Details
6 The owner took clothing from stock for personal use, selling price = R 775.00.
9 Paid the Kings Municipal Council the business water and electricity bill by cheque, R 1 450.00.
13 Purchased trading inventory on credit from Hidding CC, R 32 500.00.
14 Cash sales of trading inventory, selling price = R 925.00.
25 Credit sales of trading inventory, selling price = R 2 250.00.
28 A debtor returned some of the goods purchased from Sliced Lemon on 25 March. The cost price of the
goods was R 800.00.

Dec 05 2019 View more View Less

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