The requirement is a T-shaped account format
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The requirement is a T-shaped account format
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- Consider Chandler's incomplete deposit slip: How much cash did Chandler receive? A.$70.00 b. $106.00 C.$176.00 d. S246.00Describe the transaction recorded. Cash 593.60 Sales Tax Payable 44.80 Sales 560.00 Credit CardExpense 11.20 (Select all your answers.) Sold merchandise for cash, plus sales tax. Purchased goods plus freight. Company deposited cash from the sale. Customer paid by bank credit card. Discount charged by bank to the seller. Interest credited by the bank.Date Particulars Jan 1, 2020 Abdul commenced his business with Cash = OMR 35000 2 He deposited into bank current account = OMR. 20000 He sold goods to Hakkim on credit = OMR 1000 He paid Said by Cheque = OMR 1980 and receive discount = OMR 20 for 4 5 the goods purchased on credit He receive cheque from Hakkim 6 OMR 970 and allow him discount OMR 30 7 He makes sales for cash = OMR. 2800 Hakkim cheque deposited in to the bank = OMR 970 11 He purchased a motor car by cheque = OMR 7500 12 He purchased goods by cash = OMR. 2500 13 He withdraws from bank for office use = OMR. 750 Commission received = OMR 100 |Purchased furniture by Cheque for OMR 450 16 18 20 Withdraw from bank for personal use OMR 600 27 Sold goods to Mr. Haji for OMR 400 28 Received cheque from Mr Haji for OMR 375 in full settlement and deposited in to bank 30 Motor car repair expenses OMR 120 Required: Prepare triple column cash book with Discount, Cash and Bank Column
- QUESTION 8 You are provided with information relating to Umdoni Stores. The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19: Balance per bank statement R5 000 Debit 7. An EFT payment made by a receivable for R4 300 on 31 October 20.19 appeared in the bank statement but not in the Balance per Cash Book R6 500 credit October Cash Book. Outstanding deposit dated 30 September 20.19 R20 500 On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October, the following was noted: To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the R4 300 deposit (no. 7) must be recorded as follows: In the debit column of the Bank reconciliation statement as R4 300 O In the credit column of the Bank reconciliation statement as R4 300 Not recorded in the Bank account or the Bank reconciliation statement On the debit side of the Bank account as R4 300 On…03 Nbch z02 CSSWOK • CASH TRANSACTIONS • WORK WITH ACTIVITY • Credit Card Transaction • On 17 April 2021 AK Traders sold goods for R340 by credit card to M Moody. The cost price on goods sold, R260. CASH RECEIPTS JOURNAL OF AK TRADERS- APRIL 2016 Doc CRJ1 Cost Details F Analysis No Of receipts Bank Sales Of Sales 01 Ac Troder GENERAL LEDGER OF AK TRADERS BALANCE SHEET ACCOUNTS SECTION DR TRADING STOCK B5 CR NOMINAL ACCOUNTS SECTION DR SALES N1 CR DR COST OF SALES N2 CR Banis EFFECT ON THE ACCOUNTING EQUATION Account Account credit A Source document Debit E AV +1What is the adjusted cash in bank on December 31? 8,200,000 9,050,000 8,970,000 9,150,000 What is the cash in bank per ledger on December 31? 8,990,000 8,270,000 8,560,000 8,660,000 for fc479f51-46ab-41af-b134-12bc9f4c0777.png How much from the list above should be presented as part of noncurrent assets 4,000,000 1,000,000 4,900,000 5,500,000
- QUESTION 1 You are provided with information relating to Umdoni Stores. The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19: Balance per bank statement R5 000 Debit 1. The Cash Book showed a credit balance of R5 956 while the bank statement reflected a favourable balance of R4 794 on Balance per Cash Book R6 500 credit 31 October 20.19. Outstanding deposit dated 30 September 20.19 R20 500 On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October, the following was noted: To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the Credit balance of R5 965 will be shown as follows: Credit side of Bank account as R5 956 Will not be shown in the Bank account or Bank reconciliation Debit side of Bank account as R5 956 Debit column of Bank reconciliation as R5 956 Credit column of Bank Reconciliation as R5 956QUESTION 2 You are provided with information relating to Umdoni Stores. The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19: Balance per bank statement R5 000 Debit 1. The Cash Book showed a credit balance of RS 956 while the bank statement reflected a favourable balance of R4 794 on Balance per Cash Book R6 500 credit 31 October 20.19. Outstanding deposit dated 30 September 20.19 R20 500 On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October, the following were noted: To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the favourable balance of R4 794 (no. 1) will be shown as follows: On the credit side of the Bank account as R4 794 O In the credit column of the Bank reconciliation statement as R4 794. Not recorded in the Bank account or the Bank reconciliation statement On the debit side of the Bank account as R4 794 In the…XYZ Company's Checking account has a balance of $500 on its bank statement as of July 1, The bank statement for this account on July 31 shows $300 on the credit column and $600 on the debit column, The balance that should be on the company's bank statement as of July31 is ? а. 500 b. 800 С. 1400 d. 200
- Question 2 Credit Sales, Credit Purchases & Returns You are to enter the following items in the books, post to personal accounts, and show the transfers to the General Ledger. 20X9 1 Credit purchases from: K Hill £380; M Norman £500; N Senior £106. 3 Credit sales to: E Rigby £510; E Phillips £246; F Thompson £356. 5 Credit purchases from: R Morton £200; J Cook £180; D Edwards £410; C Davies £66. 8 Credit sales to: A Green £307; H George £250; J Ferguson £185. 12 Returns outwards to: M Norman £30; N Senior £16. 14 Returns inwards from: E Phillips £18; F Thompson £22. 20 Credit sales to: E Phillips £188; F Powell £310; E Lee £420. 24 Credit purchases from: C Ferguson £550; K Ennevor £900. 31 Returns inwards from: E Phillips £27; E Rigby £30. 31 Returns outwards to: J Cook £13; C Davies £11. July %D %3D %3D Note : Apart from double entries in the Purchases/Sales Ledger/General Ledger, please also prepare Purchases Day Book, Sales Day Book, Return Inwards & Return Outwards Day Book.25 - On 12.12.20XX, the entity purchased goods worth $ 50,000 from entity B on credit. Exchange rate on the day of the transaction $ 1 = 2.5 TL (VAT is not taken into account)A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 50000 300 BANK CREDITS 50000 B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 125000 300 BANK CREDITS 125000C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 50000 320 SELLERS 50000 D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 125000 321 BORROWINGS 125000 E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 125000 320 SELLERS 125000EB3. LO 7.2Match the special journal you would use to record the following transactions. A. Cash Receipts Journal i. Took out a loan from the bank B. Cash Disbursements Journal ii. Paid employee wages C. Sales Journal iii. Paid income taxes D. Purchases Journal iv. Sold goods with credit terms 1/10, 2/30, n/60 E. General Journal v. Purchased inventory with credit terms n/90 vi. Sold inventory for cash vii. Paid the phone bill viii. Purchased stock for cash ix. Recorded depreciation on the factory equipment x. Returned defective goods purchased on credit to the supplier. The company had not yet paid for them.
