Financial Literacy (EMS)

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 

https://www.youtube.com/watch?v=ULFLQP6Q3D4



 

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. 

https://www.youtube.com/watch?v=S_cIRSM5bQE

 

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.

 

https://www.youtube.com/watch?v=DWkPcO9dcmY

 

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. 

 

https://www.youtube.com/watch?v=p8MtqbzWLx0

 

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

  • shuters top class gr 9 by A Hiralaal, L E Janse Van Rensburg and S W Oellermann
  • Notes by Mr IDREES Timm
  • PowerPoint presentation by Mr  IDREES Timm
  • Class activity by Mr IDREES Timm
  • Homework activity by Mr  IDREES Timm

 

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