2.5L. Journalise the following transactions, post in the ledger and prepare a trialbalance:1989Jan. 1 Mr. Nadeem commenced business with Rs. 40,000 cash, furniture worth Rs. 5.000,motor-car valued at Rs. 12,000 and stock worth Rs. 20,000."3 Deposited into Bank Rs. 38,000."5 Purchased goods on account from Imran worth Rs. 9,000."6 Sold goods to Babar on credit for Rs. 6,000." 8 Bought office supplies from Rafiq & Co. for cash Rs. 200.10 Goods sold for cash Rs. 2,000.,"N Paid Rs. 600 as travelling expenses to salesman.%3D" 12 Withdrew from the bank for personal use Rs. 1,000." 16 Withdrew from bank for office use Rs. 3,000." 19° Issued a cheque to Imran of Rs. 8,800 in full settlement of his account." 22 Paid carriage in cash Rs. 400." 25 Received a cheque from Babar for Rs. 6,000." 31 Paid rent of the building by cheque Rs. 300." 31 Commission received Rs. 200." 31 Bank charges made by bank Rs. 25.

Journal Entries: Date Particulars Debit Rs. Credit Rs. Jan 1st Cash A/c Dr 40,000…

Answered: 2.5L. Journalise the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2. Ranfurly has been operating a checking account for the past month. After his last transaction log reconciliation he calculated that his beginning balance was $3,465.22. He collected and deposited cash monies twice during the month in the amount of $354.44 and $900.00. He wrote check no 34 on august 3d in the amount of $56.78 to WSC, check no 35 pm august 18h in the amount of $667.00 to BPL, check no 36 on august 20h in the amount of $500.00 to Precious Tots preschool for his son, check no 37 on august 20h in the amount of $200.00 to Ycares fashion center, check no 38 on august 26th to Cable Bahamas in the amount of $90.00. His bank automatically withdraws $1500.00 for his monthly mortgage payment, and $500 for his monthly credit card payment. He also deposited his monthly paycheck on August 28 in the amount of $2900.00. Make all entries in the transaction log below: Transaction Date Description Debit Credit Balance Number
i.2
The following transactions occurred during the month of October 2021. Date 1 2 3 4 5 6 7 9 11 12 13 14 16 20 28 30 Transactions Balance brought forward from last month: Cash RM 295; Bank RM 4,240. Cash sales RM310. Took RM 200 out of the cash register and paid it into the bank Farid paid us by cheque RM194. We paid for postage stamps in cash RM80. Bought office equipment by cheque RM310. We paid Roslan by cheque RM94. Received business refund by cheque RM115. Withdrew RM 150 from the bank for business use. Paid wages in cash RM400. Cash sales RM430. Paid motor expenses by cheque RM81. Jamal lent us RM1,500 in cash. Kamarul paid us by cheque RM174. We paid general expenses in cash RM35. Paid insurance by cheque RM320. Required: Prepare a two-columns cash book for the month of October 2021.
PA9. LO 8.6 Domingo Company received the following bank statement. Using Problem PA3, prepare the bank reconciliation.
Please provide answer in text (Without image)
Journalize the entries to record the following: Mar. 1 Established a petty cash fund of $582. Mar. 31 The amount of cash in the petty cash fund is now $402. The fund is replenished based on the following receipts: office supplies, $52 selling expenses, $130.
7. The following information pertains to Mekka Company. a. Cash balance as per bank, July 31, RO 14,526 b. July bank service charges not recorded by the depositor RO 56 c. Cash balance as per books, July 31, RO 14,568 d. Deposit in transit, July 31, RO 3,000 e. Bank collected RO 1800 note for Mekka in July, plus interest RO 72, less fee RO 40. The collection has not been recorded by Mekka, and no interest has been accrued. f. Outstanding checks, July 31, RO 1182. Instruction: Prepare bank reconciliation at July 31
B. Record the entry for acceptance of promissory note in exchange of accounts receivable from McCormick Industries. C. Record the entry for interest accrued on promissory note received from McCormick Industries. D. Record the entry for interest received , from McCormick Industries , on the note's maturity date. E. Record the entry for payment received from McCormick Industries the principal on the note's maturity date.
**General Journal needed** Review uploaded images Rick Hall owns a card shop: Hall’s Cards. The following cash information is available for the month of August Year 1. As of August 31, the bank statement shows a balance of $13,250. The August 31 unadjusted balance in the Cash account of Hall’s Cards is $9,564. A review of the bank statement revealed the following information: A deposit of $1,250 on August 31, Year 1, does not appear on the August bank statement. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $1,750 but was recorded on the books as $2,650. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,095 were found to be outstanding. A debit memo for $59 was included in the bank statement for the purchase of a new supply of checks.
6
b. The following selected transactions relate to 2 days' cash collections for a firm that maintains a $100 change fund at all times: a. Actual cash in cash register, $5,633; cash receipts per cash register tally, $5,724. b. Actual cash in cash register, $5,866; cash receipts per cash register tally, $5,782. Journalize the sales and cash receipts for each of the 2 days. If an amount box does not require an entry, leave it blank. a. 000 Previous
On March 31, 1998. the Cash Book of Henry showed a Bank balance of $ 4,850. While verifying with the Pass Book, the following facts were noted: (i) Cheques sent in for collection before March 31, 1998, and not credited by the bank amounted to $ 845. (ii) Cheques issued before March 31, 1998, but not presented for payment amounted to $ 885. (iii) The banker has charged a sum of $ 100 towards incidental charges and credited interest $ 250. (iv) The banker has given a wrong credit for $ 250. (v) Mr. Neon has paid into bank directly a sum of $ 300 on March 28, 1998, which has not been entered in the cash book (vi) A cheque for $ 200 sent for collection and returned unpaid has not been entered in the cash book. Prepare a Bank Reconciliation Statement.

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