Question

please help me with number 7,8,9 and 10

7. A bank recondition statement is a statement which ... (1) is sent by banks to their clients (2) is sent by banks to their debutors 13) is sent by banks to any of their clients who need their credit it with the bank. (4) explans the dmerence between the bank balance shown in the end's Sccounting records (after reconciliation) and that shown on its bank statement before 15) is sent by banks to clients who do not use their credit Uca the statements provided below to answer question : (a) To determine whether the double-enty principle has been applied incorrectly when transactions are recorded, an entity will prepare a trial balance (D) Atrial balance is prepared at the end of the month. (c) Atrial balance also check the arithmetical accuracy of bookkeeping Id Atrial bance is divided into a financial position chan and a nominal accounts section ABRONMENT 2, SEMESTER 1 looninud) & Which one of the following recall the woments that are trun? 11) Caled (21 (al. (. . ) (3) (b, ( d (5) (01. d) thisho Traders donated goods to the value of RO 000 to the local children's rome Which one of the attemates wil be correct Bhisho Traders uses the periodic inventory wy ? Appunt debitad Acoount credited (1 Donations czi Donations inventory 4 Donations (6) Drage Purchas 10. Boom Traders sold goods for RS 500 to Equip Stores. Boom Traders USR a manup of 25% on cost. What is the cost price of the goods sond? 4 ) 1300 125

Answer 1

7. A bank reconciliation is a statement which:

4. Explains the difference between the bank balance shown in the entity's accounting records ( after reconciliation ) and that shown on its bank statement ( before reconciliation ).

8. 1. (a), ( c), (d)

A trial balance can be prepared daily, fortnightly, monthly, quarterly, annually etc. Therefore option ( b ) is not correct.

9. 4. Donations Dr. Purchases Cr.

10. 2. R 5,200

Cost price of the goods = R 6,500 / 125 * 100 = R 5,200.