Introduction
Link to existing knowledge and to the development of the conclusion of the lesson.
- Brief explanation of what they already know about a services business
- Ask learners to provide an example of a service business.
- Give an explanation of what Cash Journals are.
copy and paste this link into your URL and watch the video which explains what a services business is.
https://study.com/academy/lesson/what-is-a-service-business.html
Task
LESSON OUTCOMES
By the end of this lesson, the learners will be able to:
- Understand what a Cash Receipts Journal (CRJ) is.
- Understand what a Cash Receipts Journal (CRJ) is used for.
- Know the formats and uses of the columns in the CRJ.
- Able to enter the cash transactions in the CRJ.
- Balancing/closing off if the CRJ.
Provide learners with a brief summary of the development of the lesson including demonstration.
What is a CRJ?
The journal where you record all cash that has been received by the business. This is cash received from any source eg. from income, a loan, or a debtor.
What the CRJ is used for?
Every Cash Receipt is recorded in the CRJ, using deposit slips, receipts, cash register rolls and cash invoice books.
This video will show you the formats and how to enter the cash transactions in the columns of the CRJ. Please watch it as you will need it to complete your activity.
Process
Complete the following activity on your own using the YouTube videos and the notes as a guide. To complete this activity you need to use your 8 column journal book and provide the analysis columns that was shown the the video.
Record the following transactions in the Cash Receipts Journal of Porkies Caterers.
Transactions for December 2021
1 P Porky won R200 000 on the game show Win 'n Spin. it was decided to open a catering business, Porkies Caterers. 60% of the winnings were deposited into the current banking account in the name of the business. Receipt 001 was issued.
8 Cash received for services rendered/ R1 400 from P Party.
14 Catered for a function at Westerford High School. Porkies Caterers charged R12 per head. There were 150 people at the function. Received a cheque for the amount due.
24 The owner decided to increases the capital contribution from R120 000 to R135 000 by depositing a cheque into the current banking account of the business. Cash received for services rendered, R1 560.
29 Received a cheque from F Food for R1 800 for rent for December.
Catered for a kiddies party and received a cheque for R900.
Evaluation
Please check your answers and to the necessary corrections. If there are any questions on this activity, do not hesitate to email me your concerns: tmeyer@gmail.com
CASH RECEIPTS JOURNAL OF PORKIES CATERERS FOR DECEMBER 2020
|
Doc. |
Day |
Details |
Analysis of receipts |
Bank |
Current income |
Sundry accounts
Amount Details |
||||||
|
R001 |
1 |
P Porky |
|
|
120 000 |
- |
|
|
120 000 |
- |
|
Capital |
|
R002 |
8 |
P Party |
1 400 |
- |
1 400 |
- |
1 400 |
- |
|
|
|
|
|
R003 |
14 |
Westerford High School |
1 800 |
- |
1 800 |
- |
1 800 |
- |
|
|
|
|
|
R004 |
24 |
P Porky |
|
|
15 000 |
|
|
|
15 000 |
- |
|
Capital |
|
R005 |
24 |
Services rendered |
1 560 |
- |
1 560 |
- |
1 560 |
- |
|
|
|
|
|
R006 |
29 |
F Food |
1 800 |
- |
|
|
|
|
1 800 |
- |
|
Rent income |
|
R007 |
29 |
Services rendered |
900 |
- |
2 700 |
- |
900 |
- |
|
|
|
|
|
|
|
|
|
|
142 460 |
- |
5 660 |
- |
136 800 |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Conclusion
We our now going to do a quick recap of the main points of the lesson:
What is a CRJ?
The journal where you record all cash that has been received by the business. This is cash received from any source eg. from income, a loan, or a debtor.
What the CRJ is used for?
Every Cash Receipt is recorded in the CRJ, using deposit slips, receipts, cash register rolls and cash invoice books.
This video will show you the formats and how to enter the cash transactions in the columns of the CRJ. Please watch it as you will need it to complete your activity.
We close off/balance the CRJ at the end of every month after the last transaction takes place for that specific month.
Thank you learners for attending my lesson. In the next lesson we will be looking at a combined journal which involves CRJ as well as CPJ.
HOMEWORK ACTIVITY DUE TUESDAY 1 JUNE 2O21:
Complete the following homework activity. I will check it before our next session.
Transactions for November 2021
1 Pluto Dog inherited R120 000. It was decided to invest half of the inheritance in a catering business, Pluto's Caterers. Receipt 001 was issued.
7 A new interior decorating shop opened in Cavendish Square. The owner approached Pluto Caterers to do the catering function for the grade opening. Pluto Caterers agreed to do the catering for R50 people at R15 per head. Received a cheque for the service provided.
11 Spine Road High School needed catering done for their annual Celebration. Pluto Caterers charged them R1 115 for providing the service. A cheque for the amount due was received.
28 Pluto Dog decided to increase his capital contribution by 15%. Received the cheque and issued a receipt.
Credits
Content/Learner Notes
Oxford Successful, Economics and Management Sciences Learner's Book, Grade 8 Caps by J.Bronkhurst, S.King and T.Rousseau
YouTube video
Video on Google
https://study.com/academy/lesson/what-is-a-service-business.html
Activity and homework sheet
Ms. T.Meyer
Memorandum
Ms. T.Meyer
Teacher Page
Leaners can find relevant information and do further research to help with the topic or for clarification purposes.
Learners are more than welcome email me or message me directly via WhatsApp
Contact details: 061 546 5789
Email address: tmeyer@gmail.com