question archive Use the following information to complete the Investment Account (general ledger) in the books of Value Led for the financial period ended 30 September 2020 and any other information required
Use the following information to complete the Investment Account (general ledger) in the books of Value Led for the financial period ended 30 September 2020 and any other information required
Subject:AccountingPrice: Bought3
Use the following information to complete the Investment Account (general ledger) in the books of Value Led for the financial period ended 30 September 2020 and any other information required. On 1 October 2019 Value Led held 1 000 6% Matts R10 Stock at a value of R9 560 that was purchased during 2017. Interest is paid on 31 July and 31 January every year. The following transactions took place during the 2020 financial year: 1 November 2019: purchased 500 at R9.80 each cum interest 1 January 2020: purchased 400 at R9.70 each ex interest 31 March 2020: sold 800 at R10.10 each cum interest 1 June 2020: purchased 600 at R9.95 each ex interest 30 August 2020: sold 400 at R9.00 each ex interest. Value uses the FIFO method of valuation for these stock and a broker's fee of 1% is payable on all transactions.
