You are the Senior Accountant at Peet's Poultry (Pty) Ltd (Peet's Poultry), a renowned butcher in...

 

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You are the Senior Accountant at Peet's Poultry (Pty) Ltd ("Peet's Poultry"), a renowned butcher in Bloemfontein. The company is known for its delectable chicken nuggets and top-quality eggs. Peet's Poultry's financial year concludes on 31 December 2023. The following transactions occurred during December 2023, leading up to the 2023 financial yearend: 1. Peet's Poultry employs 10 staff members who receive their wages bi-weekly. By the close of December, wages for only one week, amounting to R20 000, have be been disbursed. The remaining week's wages, also totalling R20 000, will settled on January 5th of the subsequent year. 2. On 1 July 2023, Peet's Poultry remitted an insurance premium of R12 000, providing coverage for one year starting from that date. The full amount of R12 000 was paid in cash on that date. 3. On the last day of December, the company sold chicken nuggets valued at R15 000 to Happy Feet (Pty) Ltd. The nuggets were delivered in December, but the invoice was sent to Happy Feet in January of the following year. Happy Feet settled the invoice immediately upon receipt. 4. Egg'celent Eggs Ltd has a monthly subscription with Peet's Poultry for the supply of 3,000 eggs at a fixed cost price of R2 each. The subscription income was received by 15 December 2023. However, in December, Peet's Poultry could supply only 2 400 eggs. The deficit was addressed in January, along with the regular monthly supply. You are the Senior Accountant at Peet's Poultry (Pty) Ltd ("Peet's Poultry"), a renowned butcher in Bloemfontein. The company is known for its delectable chicken nuggets and top-quality eggs. Peet's Poultry's financial year concludes on 31 December 2023. The following transactions occurred during December 2023, leading up to the 2023 financial yearend: 1. Peet's Poultry employs 10 staff members who receive their wages bi-weekly. By the close of December, wages for only one week, amounting to R20 000, have be been disbursed. The remaining week's wages, also totalling R20 000, will settled on January 5th of the subsequent year. 2. On 1 July 2023, Peet's Poultry remitted an insurance premium of R12 000, providing coverage for one year starting from that date. The full amount of R12 000 was paid in cash on that date. 3. On the last day of December, the company sold chicken nuggets valued at R15 000 to Happy Feet (Pty) Ltd. The nuggets were delivered in December, but the invoice was sent to Happy Feet in January of the following year. Happy Feet settled the invoice immediately upon receipt. 4. Egg'celent Eggs Ltd has a monthly subscription with Peet's Poultry for the supply of 3,000 eggs at a fixed cost price of R2 each. The subscription income was received by 15 December 2023. However, in December, Peet's Poultry could supply only 2 400 eggs. The deficit was addressed in January, along with the regular monthly supply.

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Answer The transactions that occurred during December 2023 for Peets Poultry Pty Ltd a... View the full answer