awer and is presented for cash payment on the counter. How would you deal with such situation?
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- Your friend, Gerald, has asked you to help him with his bank statement. He is sure there are some errors and some things just do not make sense to him. Study the bank statement shown below and answer the questions that follow. • The fee for deposits is R2,00 plus R1,00 for every R100,00. • Stop order payments cost R2,50 regardless of the amount. • Card purchases cost R1,00 regardless of the amount • Gerald's biggest expense is his accommodation, he pays rent to S. Yusuf. Questions 3.4 Use the information regarding the banking fee to find a mistake in the fee column. Identify the mistake and correct it. 3.5 How much rent does Gerald pay each month? 3.6 The tax of R2 440 has already been deducted from Gerald’s salary. What tax rate (percentage of his total salary) is he paying towards tax? Round off your answer to two decimal values.Assume that Sohar Paper Cores LLC sold goods to its customer and received the check of OMR 5000. The cashier immediately entered in the cash book and deposited check in the bank. After 2 days the company received the bank statement in which the deposited check amount not yet recorded. Therefore while preparing the Bank Reonciliation statement, what adjustment the accountant will do? Choose the correct answer from the following given options. a. Less OMR 5000 from the bank statement balance b. Add OMR 5000 to bank statement balance C. Add OMR 5000 to the cash book balance d. Less OMR 5000 from the cash book balanceHi, im having trouble with a bank reconciliation question. Additional information: (1) Cheque number 5904 is correctly drawn for RM2,080 to pay for computer equipment. (2) The NSF cheque shown in the statement was originally received from a customer, S. Nilson. The return has not yet been recorded by the company. (3) The credit memorandum is from the collection of RM1,400 note for Elisa Sdn. Bhd. by the bank. The bank deducted RM15 collection fee. This has not been recorded by the company too
- The cash receipts and cash payments of Detuya Company for April 2020 follow: CASH RECEIPTS Cash Debit P 208,700 20,350 27,950 109,350 92,700 53,000 16,850 CASH PAYMENTS Check No. 4113 Cash Credit P 44,550 7,350 96,500 33,200 73,600 Date Apr. 2 8 4114 10 4115 16 4116 22 4117 29 4118 50,000 31,600 83,750 5,000 120,650 30 4119 4120 4121 4122 Detuya Company received the following bank statement on April 30, 2020: BANK STATEMENT April 2020 P 95,550 Beginning balance Add: Deposits and other credits: Apr. 1 P 16,300 Electronic fund transfer 208,700 20,350 27,950 109,350 68,400 Bank collection 9 12 17 22 23 92,700 543,750 Less: Checks and other debits: P 44,550 69,500 45,150 Unauthorized signature 7,350 33,200 10,950 Electronic fund transfer 73,600 Apr. 7 13 14 15 18 21 26 30 50,000 30 1,000 Service charge 335,300 P 304,000 Ending balanceThe cash receipts and cash payments of Detuya Company for April 2020 follow: CASH RECEIPTS CASH PAYMENTS Cash Debit Check No. Cash Credit P 44,550 7,350 96,500 33,200 73,600 Date Apr. 2 8 P 208,700 20,350 27,950 109,350 92,700 4113 4114 10 4115 16 4116 22 4117 29 53,000 16,850 4118 50,000 31,600 83,750 5,000 120,650 30 4119 4120 4121 4122 Detuya Company received the following bank statement on April 30, 2020: BANK STATEMENT April 2020 P 95,550 Beginning balance Add: Deposits and other credits: Apr. 1 P 16,300 Electronic fund transfer 208,700 20,350 27,950 109,350 68,400 Bank collection 92,700 4 9 12 17 22 23 543,750 Less: Checks and other debits: Apr. 7 13 P 44,550 69,500 45,150 Unauthorized signature 7,350 33,200 10,950 Electronic fund transfer 73,600 50,000 1,000 Service charge 14 15 18 21 26 30 30 335,300 P 304,000 Ending balanceWhich one of these principles is considered for cash disbursement control Select one: O a. Print check amount by machine O b. Same staff approve and make payment Oc. Reconcile bank statement annually O d. Rarely compare checks to invoices
- Which of the following is true of a petty cash voucher? a.It must be issued once in a month by a bank. b.It must explain the purpose of the payment. c.It must only be used to account for payments of more than $5. d.It must be signed only by the person who authorized the payment.Explain clearly how would you deal with the cheque if the cheque has been lost and Mr. James asks if your branch will stop payment of the cheque if it is presented. He leaves his telephone number in case of need. The cheque is discovered in the days clearing. It is properly drawn in favor of Mr. Ward James and is endorsed “Ward James” on the back.Supposed that you have a business, and you are going to prepare checks for thefollowing: (You can create your own check or simply download a blank check) 150,000 payable to Ronald James Abad for the consultation fee. 65, 350.90 for the payment equipment purchased from Abenson ApplianceStore
- i upload this question but you solve just part 1.. i need all parts. urgently please have a lookQuestion: The following errors were found when the controller at Mountain Motel was doing the June 30 bank reconciliation. On June 25, the bank posted a cheque in the amount of $825 to Mountain’s bank account. The cheque had been written by another company, Mountainside Company. For each of these errors, (a) indicate if and how it would be shown on the bank reconciliation, and (b) prepare the journal entry for Mountain if required. Please explain for the answer.