Accounting - Grade 11- Lesson 9

A payment of R550 was made on 27 August 2021 but is not yet reflected in the creditors statement.

• Dr. Creditors ledger

• Cr. Creditors Ledger

• Dr. Creditors Reconciliation Statement

• Cr. Creditors Reconciliation Statement

An invoice for R7 100 was incorrectly posted to the account of our

business instead of another business that has a similar name.

• Dr. Creditors Ledger

• Cr. Creditors Ledger

• Dr. Creditors Reconciliation

• Cr. Creditors Reconciliation

We returned items to the value of R410 but this is not yet reflected on the creditor statement.

• Dr. Creditors Reconciliation

• Cr. Creditors Reconciliation

• Dr. Creditors Ledger

• Cr. Creditors Ledger

An invoice received from our

creditor was incorrectly captured in the creditors ledger as R2 800

instead of R8 200.

• Dr. Creditors Ledger R8200

• Cr. Creditors Ledger R8200

• Dr. Creditors Ledger R5400

• Cr. Creditors Ledger R5400

Interest of R41 was charged because of a late payment and only became known when the creditor statement was received.

• Dr. Creditors Ledger

• Dr. Creditors Reconciliation Statement

• Cr. Creditors Ledger

• Cr. Creditors Reconciliation Statement

We purchased goods on credit from our creditors. This transaction occured after our account was closed off for the month.

• Dr. Creditors Ledger

• Dr. Creditors Reconciliation

• Cr. Creditors Ledger

• Dr. Creditors Reconcilaition

There was an invoice on the creditor statement of R1 645 that we did not receive. Upon further investigation we found that this amount was incorrectly posted to our account instead of another client.

• Dr. Creditors Ledger

• Cr. Creditors Ledger

• Dr. Creditors Reconciliation

• Cr. Creditors Reconcilaition

The bookkeeper of Thabo Trading made a mistake in the records when posting from the creditors journal to the creditors ledger of Wonderful Wholesalers. They recorded an invoice as R7 214 instead of R1 247.

• Dr. Creditors Ledger R5967

• Cr. Creditors Ledger R1247

• Dr. Creditors Reconcilaition R5967

• Cr. Creditors Reconciliation R1247