Introduction
Good day Students. The following will be required of you to do.
The learner will be able to Posting of Cost of sales and sales into CPJ AND CRJ of a trading business.
1. Understand trading business concepts.
2.Understand how to calculate cost of price, selling price and mark up %
3.Demonstrate an understanding of entering calculations into CRJ and CPJ.
The lesson of how to calculate cost of sales, mark-up percentage and sales.
- Cash transactions of a trading business, effect of cash transactions on the accounting equation.
-Teacher captures learners attention by allowing them to watch a video on Trading business
-We will have a Q&A mini session to cover any knowledge gaps, on the following:
• Trading stock
• Cost price
• Mark-up %
• Selling price
• Cost of sales
• Sales
We now proceed to the next topic which is Posting of cost of sales, selling price and mark-up % to CRJ AND CPJ
Task
•Direct instruction: I want to introduce specific content of the CRJ AND CPJ journals and give background on the topic.
•Demonstration method: I use it to show the learners how entering the journals are done step by step were done on the slide through online platforms
•Cooperative learning method: Groups are already paired up and is expected to do the classroom activity through the online platform or message each other privately through whatsapp or Zoom meetings.
Classroom activity. Grade 9 Financial literacy
Massa traders uses a 25% profit mark up
|
1 |
R.Dambo increases capital by R25 000 |
|
3 |
Purchased stationary by cheque 302 for R1200 by CSA stationery traders |
|
7 |
Cash sales amounted to, R1700 |
|
11 |
Paid wages by cheque amounted to R7000 |
|
13 |
Rent income received by O.Williams of R7200 |
|
18 |
Bought office furniture by furniture for R1900 |
|
20 |
Sold goods for cash R7000 |
|
26 |
R. Mambo settled his account R2300 |
|
27 |
Cash sales amounted to R3200 |
|
28 |
Owner increases capital, R18 000 |
|
30 |
Paid wages, R7000 |
Process
Notes
Business concepts
Cost price: this is the money that the business spends to buy trading stock
Mark-up %: this is the percentage of profit that the business adds to the cost price
Selling price: this is the cost price + the mark-up %
Cost of sales: this is a nominal account in which the cost price is recorded
Sales: this is a nominal account in which the selling price is recorded
Calculating the cost price, selling price and mark-up %
Selling price
You can find the selling price from the cost price by multiplying the cost price with (100 +mark-up)/100
Cost price
You can find the cost price from the selling price by taking the selling price and multiplying is with (100/100+mark-up %)
Profit
Profit= selling price – cost price
Mark-up %
You can get the mark-up % by taking the profit/cost price multiplying it with 100
After looking back on prior knowledge, an example will be done of how sales of a trading business will be entered into the subsidiary journal.
Evaluation
The Learners will have to do the homework activity and read through the next chapter which is completing the CRJ and CPJ from given information.
MEMO (10 Marks)
CRJ journal
|
Day |
Doc |
Details |
Fol |
Analysis of receipts |
Bank |
Sales |
Cost of sales |
Sundry Accounts |
||
|
Amount |
Fol |
Details |
||||||||
|
1 |
R01 |
R. Dambo |
|
25000 |
25000 |
|
|
25000 |
|
Capital |
|
7 |
R02 |
Sales |
|
1700 |
1700 |
1700 |
1360 |
|
|
|
|
13 |
R03 |
O.williams |
|
7200 |
7200 |
|
|
7200 |
|
Rent income |
|
20 |
R04 |
Sales |
|
7000 |
7000 |
7000 |
5600 |
|
|
|
|
26 |
R05 |
R.mambo |
|
2300 |
2300 |
|
|
2300 |
|
Debtors control |
|
27 |
R06 |
Sales |
|
3200 |
3200 |
3200 |
2560 |
|
|
|
|
28 |
R07 |
R.Dambo |
|
18000 |
18000 |
|
|
18000 |
|
Capital |
CPJ journal ( 10 Marks)
|
Day |
Doc |
Details |
Fol |
Bank |
Wages and salaries |
Sundry Accounts |
||
|
Amount |
Fol |
Details |
||||||
|
3 |
301 |
CSA stationery traders |
|
1200 |
|
1200 |
|
Stationery |
|
11 |
302 |
Wages |
|
7000 |
7000 |
|
|
|
|
18 |
303 |
Furnistore |
|
1900 |
|
1900 |
|
Furniture |
|
30 |
304
|
Wages |
|
7000 |
7000 |
|
|
|
TOTAL 20 MARKS : The following video will also aid in ensuring you did the work correctly.
Conclusion
Learner’s pay attention to the clear and orderly instructions slideshow presentation, the presentation automatically gets up dated to Google drive where learners are able to access .
-Learner’s follow the demonstration method from the teacher explanation until slides are done, this way learners are taught how to enter into the journals and also shown how to enter the journals.
-Learner’s work in pairs/groups to practice, compare answers. This promotes engagement of students in their own learning. Cooperation and reflection.
-Learners in our class are all unique therefore we were able to show different teaching strategies like, They were taught, they were shown and now they do.
-Learners will do the classroom activity and any questions on the CRJ and CPJ journals
After this lesson, the learners will be able to:
• Post transactions into CRJ and CPJ journals
• Understand and implement cost of sales, selling price and mark up %
Start next lesson with the marking of the homework activity.
Start with the next chapter: the effect of cash sales of a trading business in the accounting equation.
-Learners in our class are all unique therefore we were able to show different teaching strategies like, They were taught, they were shown and now they do.
-Learners will do the classroom activity and any questions on the CRJ and CPJ journals.
Learners are reminded of the previous knowledge that we did.
-Learners are able to explain what cost of sales, selling price and mark up% are.
-Learners are well informed about previous content and excited to start new content. Next chapter we will be focusing on Trading
Credits
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