CPD Hardware is registered as a VAT vendor. All the suppliers of the entity are also registered for VAT.  All goods are sold at a constant mark-up of 25% on cost and a perpetual inventory system is in use. The following is an extract from the subsidiary journals of CPD Hardware for the month ended 30 June 2023: Purchases journal RVAT Input2 250Inventory15 000Trade payables control17 250  Purchases returns journal RVAT Input345Inventory2 300Trade payables control2 645  Sales journal RVAT Output1 170Sales7 800Trade receivables control8 970Cost of sales?  Sales returns journal RVAT Output330Sales returns2 200Trade receivables control2 530Cost of sales? Required: Post the applicable totals from the above subsidiary journals to the inventory account in the general ledger of CPD Hardware for the month ended 30 June 2023.Instructions:Use a full stop to indicate any decimals (eg: 1000.01)Round off to the second decimal after the full stop (eg: 50.56)If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")   DrInventoryCr2023   R2023   RJun30AnswerAnswerAnswerJun30AnswerAnswerAnswer  AnswerAnswerAnswer  AnswerAnswerAnswer  Balancec/dAnswer  Balancec/dAnswer    Answer    AnswerJul1Balanceb/dAnswerJul1Balanceb/dAnswer

CPD CO. produces a product using an expensive proprietary machine that can onlybe leased. The leasing company offers two contracts. The first (unit-rate lease) is onewhere CPD would pay $4 per unit produced, regardless of the number of productionunits. The second lease option (flat-rate lease) is one where CPD would pay $60,000per month, regardless of the number produced. The lease will run one year, and thelease option chosen cannot be changed during the year. All other lease terms are thesame.The product sells for $35 per unit and unit variable cost (excluding any machine leasecosts) are $17. Monthly fixed costs (excluding any machine lease costs) are $205,000.The sales volume is the same as the production volume. At what volume would theoperating profit be the same regardless of the lease option chosen?A. 13000 unitsB. 10000 unitsC. 12500 unitsD. 15000 units

The inventory transactions of VTS Corporation are shown below. Date Transaction Number of Units Unit Cost/PriceJanuary 1 Beginning inventory 500 $10February 25 Sale 300 20May 21 Purchase 400 12July 15 Purchase 500 15December 10 Sale 800 20All purchase/sale transactions are made on credit. The company uses the FIFO method and perpetual inventory system to record transactions. Which of the following will be recorded on February 25?Multiple ChoiceDebit to Accounts Receivable for $3,000Credit to Sales Revenue for $6,000Debit to Cost of Goods Sold for $6,000Credit to Inventory for $5,000

he following are the inventory transactions of Maseru (Pty) Ltd, a retailer, for the month ended 30 April 2024. Maseru (Pty) Ltd uses the perpetual inventory system. The company applies a mark-up of 20% of cost on all goods sold. RPurchased inventory for cash405 227Paid for delivery of the inventory in cash8 648Sold inventory for cash384 264Purchased inventory on account117 315Returned unwanted goods to the supplier15 225Sold inventory on account98 400Paid for delivery of sold goods to the customer in cash5 465 Required:Complete the journal entries for the above-mentioned transactions by selecting the appropriate accounts and related data. DebitCredit RRBlank 1405 227 Blank 2 405 227Inventory purchased for cash    DebitCredit RRBlank 38 648 Blank 4 8 648Paid delivery cost of purchases    DebitCredit RRBlank 5Blank 6 Blank 7 Blank 8Cash sales    DebitCredit RRBlank 9Blank 10 Blank 11 Blank 12Recording cost of sales    DebitCredit RRBlank 13117 315 Blank 14 117 315Inventory purchased on account    DebitCredit RRBlank 1515 225 Blank 16 15 225Goods returned    DebitCredit RRBlank 17Blank 18 Blank 19 Blank 20Sales on credit

Zack’s Hardware, a registered VAT vendor, makes use of the periodic inventory system. The VAT rate is 15%.The following is an extract from the financial records of Zack’s Hardware for January 2023: RTrade receivables: opening balance (1 January)33 000Credit sales131 200Cash receipts journal: Trade receivables column total (31 January)64 600Sales returns journal: Trade receivables column (31 January)6 200 On month end, the auditors completed a debtors reconciliation and found the following:On 10 January, Mr Zack returned goods sold to him for cash to the amount of R550. This transaction was incorrectly recorded in the sales returns journalThe trade receivables column in the cash receipts journal were overcast by R400.On 18 January, goods sold on credit to the amount of 8 500 was recorded in the sales journal as R5 300. No journal entry has been made to correct this error. Required:Complete the trade receivables account in the general ledger of Zack’s Hardware for the month ending 31 January 2023. Instructions:Use a full stop to indicate any decimals (eg: 1000.01)Round off to the second decimal after the full stop (eg: 50.56)If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")  Dr Trade receivables control Cr2023   R2023   RJan1Balanceb/dAnswerJan1Balanceb/dAnswer 31AnswerAnswerAnswer 31AnswerAnswerAnswer       AnswerSRJAnswer  Balancec/dAnswer  Balancec/dAnswer    Answer    AnswerFeb1Balanceb/dAnswerFeb1Balanceb/dAnswer

Under the periodic inventory system, the account debited to record the cost of merchandise purchased is*a. Purchasesb. Purchase Discountc. Merchandise Inventoryd. Purchase returns and allowances