Introduction
Good day Students. The following is required for you to know:
- Understand trading business concepts.
- Understand how to calculate cost of price, selling price and mark up %
- Demonstrate an understanding of entering calculations into CRJ and CPJ.
This will enable the learners to post of Cost of sales and sales into CPJ AND CRJ of a trading business.
Task
Teaching Methods
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
Classroom Activity (15 Marks)
Dollo traders uses a 25% profit mark up %
|
1 |
M Dollo increases capital by R 10 000 |
|
3 |
Purchased stationary by cheque for R 1100 from Pens & Pencils |
|
7 |
Sold stock, cash, to the value of R 2000 |
|
11 |
Paid wages by cheque, R6500 |
|
13 |
Received R 7500 for Rent Income |
|
18 |
Bought office furniture from Furniture Traders LTD for R1 500 |
|
20 |
Sold goods for cash R 6000 |
|
26 |
L Williams settled his account R2500 |
|
27 |
Cash sales amounted to R2500 |
|
|
Process
Business concepts to be aware of:
Cost price: the is the amount spent on purchasing Trading stock
Mark-up %: it is the percentage of profit that the business adds to the cost price
Selling price: cost price + the mark-up %
Calculating the cost price, selling price and mark-up %
Selling price
(100 + Mark up %) / (100) x Cost price
Cost price
(100) / (100 + Mark up %) x Selling price
Profit
Profit= selling price – cost price
Mark-up %
(Profit) / (Cost of sales) x 100
Evaluation
Learners will do the classroom activity for an evaluation.
MEMO
CRJ journal (12 Marks)
|
Day |
Doc |
Details |
Fol |
Analysis of receipts |
Bank |
Sales |
Cost of sales |
Sundry Accounts |
||
|
|
|
|
||||||||
|
1 |
1 |
M Dollo |
|
10000 |
10000 |
|
|
10000 |
|
Capital |
|
7 |
2 |
Sales |
|
2000 |
2000 |
2000 |
1600 |
|
|
|
|
13 |
3 |
Rent |
|
7500 |
7500 |
|
|
7500 |
|
Rent income |
|
20 |
4 |
Sales |
|
6000 |
6000 |
6000 |
4800 |
|
|
|
|
26 |
5 |
L Williams |
|
2500 |
2500 |
|
|
2500 |
|
Debtors control |
|
27 |
6 |
Sales |
|
2500 |
2500 |
2500 |
2000 |
|
|
|
|
|
CPJ journal ( 3 Marks)
|
Day |
Doc |
Details |
Fol |
Bank |
Wages and salaries |
Sundry Accounts |
||
|
|
||||||||
|
3 |
1 |
Pens & Pencils |
|
1100 |
|
1100 |
|
Stationery |
|
11 |
2 |
Wages |
|
6500 |
6500 |
|
|
|
|
18 |
3 |
Furniture Traders LTD |
|
1500 |
|
1500 |
|
Furniture |
|
|
Conclusion
After this lesson, the learners will be able to:
• Post transactions into CRJ and CPJ journals
• Understand and calculate the cost of sales, selling price and mark up %
In the next lesson, we will mark the classroom activity and we will also start with the effect of transactions on the Accounting equation.
The end.
Credits
New Era Accounting for Grade 9 (Hall, Aboobaker)
Classroom Activity: H van der Merwe
Teacher Page
Heinrich van der Merwe
218083114