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Hey everyone I am really stuck on this entire question and I was
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QUESTION 7: (Please show work): P7-7A The bank portion of last month’s bank reconciliation for Yap...
QUESTION 7: (Please show work): P7-7A The bank portion of last month’s bank reconciliation for Yap Ltd. at February 28 was as follows: YAP LTD. Bank Reconciliation February 28 Cash balance per bank $17,984 Add: Deposits in transit 3,140 21,124 Less: Outstanding cheques #3451 1,960 #3470 2,135 Reconciled cash balance $17,029 The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation at February 28. The March bank statement showed the following: YAP...
Question 2 Bank reconciliations and cash It is now January 2020, and Harry Smith has come...
Question 2 Bank reconciliations and cash It is now January 2020, and Harry Smith has come to you for some assistance as he is having trouble reconciling the bank account as at 31 December 2019.The December 2019 bank statement appeared as follows: Bank statement for December 2019: Date Description Deposit Withdrawal Balance 1/12/2019 Opening balance $14,550.00 1/12/2019 Loan application fee 300.00 $14,250.00 2/12/2019 EFT - Harry Smith Drawings 1,000.00 $13,250.00 5/12/2019 Deposit 1,650.00 $14,900.00 5/12/2019 Cheque 43 440.00 $14,460.00 11/12/2019...
MODULE 10-ACCOUNTING INFORMATION SYSTEM AND INTERNAL CONTROL TUTORIAL SOLUTIONS Question 22 On 31 May 2015 Computec...
MODULE 10-ACCOUNTING INFORMATION SYSTEM AND INTERNAL CONTROL TUTORIAL SOLUTIONS Question 22 On 31 May 2015 Computec Ltd had a cash balance as per company records of $5,681.50 debit. The bank statement from Community Bank on that date showed a credit balance of $7,784.60. A comparison of the statement with the cash account revealed the following facts: 1. The statement included a debit entry of $60 for the printing of additional company cheques. 2. Cash sales of $836.15 on 12 May...
Kambonde Shapaka is a business that deals in silver-crafted jewellery. You are given the following information....
Kambonde Shapaka is a business that deals in silver-crafted jewellery. You are given the following information. Kambonde Shapaka Cash Book November 2016 Date Details fol Amount (N$) Date Details fol (Chq) Amount Nov.1 Balance 1809 Nov.1 Purchases no.821 175 2 Cash 295 1 Rates 240 4 Jim Jankovich 244 3 Electricity and Water no.822 181 7 Cash sales 270 8 Sanchia Sander no.823 42 12 Cash sales 127 9 Candy Wong no.824 562 17 Fiona Finkelstein 255 16 Machine no.825...
Purple Bank Dute Description Det C BEC's adjusted cash general ledger balance at January 31, 2036...
Purple Bank Dute Description Det C BEC's adjusted cash general ledger balance at January 31, 2036 $5,16. The bookkeeper has compiled the following information and notes 12,500 ILTON $ 622 Depot in December 31, 2017 Outstanding chegues December 31, 2017 1. LABO 23 Amount 14.250 12.00 12.ME 14 77 70 88 $ $ $ 180 da DORTY GOOD - NOT ODPOST 05-18 NIGHT DEPOST NOTLO NE 11- NOT DEPOT - Director 15- Mered 11 OCR 15--OGRS NOM DOO 161 OORTO...
The following transactions occurred in June 2018 for Borderline Ltd JuneReceved a cheque for S1 200 from Roar Ltd in...
The following transactions occurred in June 2018 for Borderline Ltd JuneReceved a cheque for S1 200 from Roar Ltd in full settlement of its account and deposited it in the bank account Sold inventory for $905(before any discounts have been applied) to Jones Ltd on credit (the company was given a trade discount of $80, then the normal credit terms) COGS was $420 Paid rent for June S1 500, chq no. 561 (Assume the rent is GST free) Purchased inventory...
Question 3 H. Angula, for whom you work as a trainee accountant, has provided you with the following bank statemen...
Question 3 H. Angula, for whom you work as a trainee accountant, has provided you with the following bank statement and bank account details in respect of the month ended 31 May 2017. STATEMENT OF ACCOUNT-YOUR BANK LTD Statement date-31 May 2017. Account No 7654321 Date Debit Credit Balance Particulars N$ N$ NS 27 970 Cr 26 720 Cr 7070 33 790 Cr 33 730 Cr 32 720 Cr 2 330 35 050 Cr 01-May-17 Balance forward 03-May-17 Cheque 596...
Question #2 You have been asked to reconcile the bank account for Virdon Electric Ltd. for...
Question #2 You have been asked to reconcile the bank account for Virdon Electric Ltd. for the month ended September 30. You have been given the following information: Balance per bank statement, September 30 $4,481.90 Balance per General Ledger, September 30 $4.500.00 a).Cheque #755 was outstanding, i.e. not cashed by bank in the amount of $221.00 as of September 30. b).Cheque #860, dated September 12, was written and cashed for $484.00. However, this cheque was recorded incorrectly in the cash...
All of this question needs to be completed on excel, and make sure to use the...
All
of this question needs to be completed on excel, and make sure to
use the same layout.
Gibson Energy Ltd.'s general ledger account for Cash in Bank showed the following at December 31, 2019: Cash in Bank Folio Debit Date Nov. 30 Dec. 1-31 Dec. 1-31 Description Balance (overdraft) Cash receipts Cash Payments Acct. No. 101 Balance DR Credit (CR) 221,000 1,034,000 + 972,000 62,000 CR10 CDI21 813,000 December deposits made and checks issued were as follows: Deposits Date...
a. Prepare the properly balanced/closed off bank account for May 2018 in the general ledger of...
a. Prepare the properly balanced/closed off bank account for May
2018 in the general ledger of Ayuri Dealers.
b. Prepare the bank reconciliation statement of Ayuri Dealers as
at 31 May 2018.
c. Prepare the trade payables control account, properly
balanced/closed off, for Ayuri Dealers for May 2018.
You are provided with the following information for Ayuri Dealers for May 2018 Total for the cash receipts journal after taking into account the differences Total for the cash payments joumal after...
MODULE 10-ACCOUNTING INFORMATION SYSTEM AND INTERNAL CONTROL TUTORIAL SOLUTIONS Question 22 On 31 May 2015 Computec Ltd had a cash balance as per company records of $5,681.50 debit. The bank statement from Community Bank on that date showed a credit balance of $7,784.60. A comparison of the statement with the cash account revealed the following facts: 1. The statement included a debit entry of $60 for the printing of additional company cheques. 2. Cash sales of $836.15 on 12 May...
Purple Bank Dute Description Det C BEC's adjusted cash general ledger balance at January 31, 2036 $5,16. The bookkeeper has compiled the following information and notes 12,500 ILTON $ 622 Depot in December 31, 2017 Outstanding chegues December 31, 2017 1. LABO 23 Amount 14.250 12.00 12.ME 14 77 70 88 $ $ $ 180 da DORTY GOOD - NOT ODPOST 05-18 NIGHT DEPOST NOTLO NE 11- NOT DEPOT - Director 15- Mered 11 OCR 15--OGRS NOM DOO 161 OORTO...
The following transactions occurred in June 2018 for Borderline Ltd JuneReceved a cheque for S1 200 from Roar Ltd in full settlement of its account and deposited it in the bank account Sold inventory for $905(before any discounts have been applied) to Jones Ltd on credit (the company was given a trade discount of $80, then the normal credit terms) COGS was $420 Paid rent for June S1 500, chq no. 561 (Assume the rent is GST free) Purchased inventory...
Question 3 H. Angula, for whom you work as a trainee accountant, has provided you with the following bank statement and bank account details in respect of the month ended 31 May 2017. STATEMENT OF ACCOUNT-YOUR BANK LTD Statement date-31 May 2017. Account No 7654321 Date Debit Credit Balance Particulars N$ N$ NS 27 970 Cr 26 720 Cr 7070 33 790 Cr 33 730 Cr 32 720 Cr 2 330 35 050 Cr 01-May-17 Balance forward 03-May-17 Cheque 596...
All
of this question needs to be completed on excel, and make sure to
use the same layout.
Gibson Energy Ltd.'s general ledger account for Cash in Bank showed the following at December 31, 2019: Cash in Bank Folio Debit Date Nov. 30 Dec. 1-31 Dec. 1-31 Description Balance (overdraft) Cash receipts Cash Payments Acct. No. 101 Balance DR Credit (CR) 221,000 1,034,000 + 972,000 62,000 CR10 CDI21 813,000 December deposits made and checks issued were as follows: Deposits Date...
a. Prepare the properly balanced/closed off bank account for May
2018 in the general ledger of Ayuri Dealers.
b. Prepare the bank reconciliation statement of Ayuri Dealers as
at 31 May 2018.
c. Prepare the trade payables control account, properly
balanced/closed off, for Ayuri Dealers for May 2018.
You are provided with the following information for Ayuri Dealers for May 2018 Total for the cash receipts journal after taking into account the differences Total for the cash payments joumal after...
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