The following information was obtained from the accounting records of SA Attorneys:On 1 April 2022, A South, a client of the practice, paid in an amount of R100 000. The money was to be kept in trust to the benefit of A South to be used by him to purchase a business.What will be the journal entry in the accounting records of SA Attorneys to account for the transaction? Select one:a.General journalDateAccountsDebitRCreditR1 AprilTrust bank account100 000     A South /Trust creditor control 100 000b.Trust journalDateAccountsDebitRCreditR1 AprilTrust bank account100 000    A South /Trust creditor control 100 000c.Business cash receipts journalDateDetailsTrust creditors controlRBankR1 AprilA South (Client – Deposit)100 000100 000d.Trust cash receipts journalDateDetailsTrust creditors controlRBankR1 AprilA South (Client – Deposit)100 000

A client, W West, instructed the attorney practice, South Attorneys, to transfer an amount of R5 200, from the trust bank account to the business bank account for fees that are due to South Attorneys after the attorney practice has rendered all services to the W West on 30 June 2021. The trust creditors control account of W West had a credit balance of R7 000 on 30 June 2021.Which one of the following options represents the correct journal entry when the funds due to South Attorneys are paid on 30 June 2021?Select one:a.Journal entryDrRCrRTrust bank accountBusiness bank accountFunds transferred to the business bank account5 200 5 200b.Journal entryDrRCrRTrust creditor control account (W West)Business bank accountFunds transferred to the business bank account5 200 5 200c.Journal entryDrRCrRBusiness bank accountTrust bank accountFunds transferred to the business bank account5 200 5 200d.Journal entryDrRCrRBusiness bank accountTrust creditor control account (W West)Funds transferred to the business bank account5 200 5 200

The following transaction relates to the accounting records of SA Attorneys for March 2022. The legal practice is registered as a VAT vendor. On 24 March 2022, SA Attorneys paid the Sheriff with a business cheque of R115, for the delivery of a summons to A South. The entry on 24 March 2022 in a book of first entry will be:Select one:a.Sheriffs’ journalDateDetailsDrRCrR24Client – A SouthVAT inputSheriff10015  115 Dr – Clients control account115 b.Sheriffs’ journalDateDetailsDrRCrR24Client – A SouthSheriff115  115 Dr – Clients control account115 c.Business cash payments journal of SA AttorneysDateDetailsFol.SundriesRVATRBankR24Sheriff’s fee (client) 10015115d.Business cash payments journal of SA AttorneysDateDetailsFol.SundriesRVATRBankR24Sheriff’s fee (client) 11

The following balances were obtained from the accounting records of SA Attorneys on 1 February 2022: ClientTrust creditorsaccountRClients account RA South2 000 Cr4 000 DrS Africa7 000 Cr3 000 Dr 9 000 Cr7 000 Dr The following transactions took place and were accounted for on 28 February 2022:  Client Trust receipts bankRFees charged at the end of the dayRA South5 0003 800S Africa04 600 5 0008 400 A pro-forma invoice was issued on 15 February 2022 to A South for R5 000. A South immediately paid the amount into the account of SA Attorneys.What will be the amount that must be transferred to the business bank account from the trust bank account from S Africa after all obligations to S Africa were met in full on 28 February 2022?Select one:a.R7 000b.R0 because an amount of R2 400 should be transferred to the clients account of S Africac.R3 000d.R3 800

SA Attorneys keep a small amount of cash in the office for small, general business related expenses. On 14 February 2022, Mr A South (attorney), requested his secretary, Ms S North, to purchase some refreshments for the staff. Ms S North used the small amount of cash kept in the office to pay for the refreshments. The transaction will be entered into the .... as book of first entry.Select one:a.Trust cash payments journalb.Petty cash journalc.General journald.Business cash payments journal

On 2 April 2022, SA Attorneys decided to invest R165 000 of trust money, not immediately needed, in a special savings account at SA Bank (An approved bank) to earn interest until the end of May 2022. All the investments were made in terms of section 86 of the Legal Practice Act 28 of 2014. The accountant recorded the transaction as follows: Trust cash payments journal for Apr 2022  Date  DetailsTrust creditors control  VAT  Bank  RRR 2 Sec 86(3) - Trust investment – SA Bank (trust creditor) 165 000 24 750 189 750 165 00024 750189 750 Which one of the following statements is correct relating to the recording of the above transaction?Select one:a.The transaction is recorded correctly.b.The transaction is recorded incorrectly because the transaction does not have any VAT effect.c.The transaction is recorded incorrectly because it should have been recorded in the Business cash receipts journal.d.The transaction is recorded in the correct journal, but the description is incorrect because it should be indicated as a Sec 86(4) – Trust investment.