Question

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 taking into account the differences Debit balance of the bank account in the general ledger on 1 May 2018 Total of the trade payables column in the cash payments journal Total of the purchases column in the purchases joumal Total of the VAT input column in the purchases journal Total of the purchases retums column in the purchases returns journal Total of the VAT input column in the purchases returns joumal. 120 000 210 180 50 000 60 000 140 000 19 600 25 000 3 500 Additional Information (1) The bookkeeper of Ayuri Dealers prepared the cash receipts journal and the cash payments jounal for May 2018 after taking into account the differences she noted after comparing the cash joumals with the current months bank statement and the previous month's bank reconciliation statement (2) The following cheques were not yet presented for payment: Cheque no:100 1 000 7 000 1 900 1 600 Cheque no:110 Cheque no:117 (3) Cheque no: 89 for R950 and 92 for R750 which appeared in the April 2018 bank reconciliation (4) Cheque no: 121 was recorded correctly as R360 in the cash payments journal but according to (5) A direct deposit of R15 000 was incorrectly deposited into Ayuri Dealers bank account. Cheque no:120 statement did not appear on the current month's bank statement. the bank statement received the amount paid was incorrectly entered as R630 (6) Receipt no:175 and receipt no:176 for R10 000 and R2 000 respectively were deposited by the bookkeeper into the business bank account on 30 May 2018 but it did not reflect on the bank statement (7) A stop order for R750 was erroneously debited by the bank to the bank account of Ayuri Dealers. (8) The bank statement had an unfavourable balance of R25 000. (9) XYZ Stores charges 12% interest on overdue accounts. Ayun Dealers owes XYZ Stores R12 000 which is two months overdue (10) The purchases journal was undercast by R500 (11) The bookkeeper of Ayuri Dealers forgot to make an entry for R1 000 which was for inventory purchased on credit. (12) Ayuri Dealers purchased equipment on credit from ID Suppliers for R20 000 (including VAT) (13) The bookkeeper of Ayuri Dealers entered Mr Smith's salary of R30 000 in the trade payables column of the cash payments jounal. (14) The trade payables control had a credit balance of R120 000 on 1 May 2018

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.

Answer 1

unt Add loOCD tpada>. Chaau Lao (1600) Cl 2

C.-. Tsada-Payables contel -Account 3TUD mazad30,000 DoSnl ael Du 2,31340 331,3uD