below Transactions of Lubanz's Garden Services for January 2020 Lubanzi Gumede deposited R200 000 into the bank account of the business the issued receipt number 001 According to cash register roll, a total of 16 000 was received for services rendened Bought equipment of R7000 and paid by cheque number 01 Purchased a business vehicle for 63 500 paid by cheque number 02 3. 10 21 28 Paid the manager S Ntuli, his salary of R 8000 with cheque 03 SOURCE DOCUMENT DATE OWNER'S EQUITY JOURNAL ASSETS LIABILITIES
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- 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 ColumnMAKE THE NECCESSARY JOURNAL ENTRIES FOR THE FOLLOWINGTRANSACTIONS 4) Bank Credit Memorandum states that , 95.000 TL issued check iscollected from the Bank. 5) 24 month rent contract, Starting 1st April 2020 is signed for384.000 TL. Prepayment is made by half check and half note issued, 6) 25.000 USD is paid ( cash ) by the customer for USD Merchandise sale .Rate is 7.15 TL/USD.Help Save & Exit Submit TB MC Qu. O7-145 (Algo) Winkler Company borrows... Winkler Company borrows $87,000 and pledges its receivables as security. The journal entry to record this transaction would be: Multiple Choice ok Debit Cash of $87,000 and credit Accounts Receivable $87,000. nces Debit Cash of $87,000 and credit Accounts Payable $87,000. Debit Notes Receivable $87,000 and credit Accounts Receivable $87,000. Debit Cash $87,000 and credit Notes Payable $87,00. < Prev 12 of 20 Next A tv MacBook Air 80 DII F3 F4 F5 F6 F8 F7 23 24 2 7 W E の * 00 < co
- Cash Receipt #94 Dated April 4, 2022 From Jokers Et Al., cheque #2213 for $950 in full payment of invoice # 287, taking into account 2% sales discount of $50 for early payment. 04-15-2022 J2 1080 1200 94, Jokers Et Al. Bank: Chequing Accounts Receivable 1,000.00 1,000.00 Compare the transaction information and the transaction as captured in Sage and state, what was done wrong and how would you correct it?From the following particulars of Al Zahra LLC, prepare bank reconciliation statement as on Oct 31, 2020 a-Bank charges debited by Bank RO 2,500. b-Cheques issued but not presented for payment RO 10,125. c-Bank credited RO 2,000 for receiving interest through Electronic Clearing System. d-Cheques deposited RO 6500 into bank of which cheques for Ro 4200 was credited on 15 Nov 2020 e-Bank balance as per passbook on 31 Oct is RO 55,500Journalize the following entries to record the adjusting entries on the books of Company YOU. Bank reconciling items: Deposit in transit: ₱160,000 deposit on 6/29. Outstanding check: ₱380,000 Check #1116 on 6/28. Book reconciling items: Credit memos: ₱350,000 deposit on 6/10 + ₱410,000 deposit on 6/28 = ₱760,000. Debit memos: ₱2,000 payment on 6/15 + ₱50,000 payment on 6/20 = ₱52,000.
- P9-1C. The following transactions occurred in April 2023 for Silva's Designs Apr. 1 Issued cheque No. 14 for $120 to establish a petry cash fund. 5 Paid $10 from petty cash for postage, voucher Na 1. 8 Paid $19 from petty cash for office supplies, voucher No. 2 15 Issued cheque No. 15 to Upright Corp. for $160 for past purchases on account. 17 Paid $17 from petry cash for office supplies, voucher Na. 3. 20 Issued cheque Noa. 16 to Barret Corp. $675 for past purchases on account. 24 Paid $19 from petty cash for postage, voucher Na. 4. 26 Paid $12 from petty cash for local church donation, voucher Na 5 (a miscellaneous payment). 28 Issued cheque No. 17 to Jay Loon to pay for office equipment, $625. 30 Replenished petty cash, cheque No. 18. Assume no shortage or overage. Required a. Record the appropriate entries in the general journal and the auxiliary petty cash record as needed. b. Repleniah the petty cash fund on April 30 (cheque No. 18).Cash Receipt # 95 Dated April 12, 2022 From WiseGuys, cheque #189 for $1 800 in payment of invoice #285. Sage 50 Journal Entry: 04-12-2022 J9 95, Wise Guys 1080 4100 1200 Bank: CAD Chequing Sales Discounts Accounts Receivable 1,800.00 101.70 1,901.70 Compare the transaction information and the transaction as captured in Sage and state, what was done wrong and how would you correct it?Question 28 On July 31, 2028, Massive Ltd. had a cash balance of $6,793 in its general ledger. The bank statement from the Bank of Auditing on that date showed a balance of $6,578. A comparison of the bank statement with the Cash account revealed the following: a. Cash receipts for July 31 recorded on the company's books were $3,500, but this amount does not appear on the bank statement. b. A cheque of $5,100 made by another company was incorrectly deducted to Massive's account by the Bank of Auditing. c. The bank statement included service charges and debit and credit card processing fees of $65. d. Cheques outstanding on June 30 totaled $6,200. Of these, $4,600 worth cleared the bank in July. All cheques written in July cleared the bank in July. e. The bank statement included electronic collections from customers on account totaling $8,800. Massive had not recorded the EFT. f. Salaries of $4,800 were paid electronically during the month. The company has already recorded these. g. An…
- A cheque drawn by the business from RM609 for payment of a liability was recorded in the journal as RM906. This item would be included in the bank reconciliation as a/an _____?1Jervis sels $4,300 of its accounts receivable to Northem Bank in order to obtain necessary cash. Northem Bank charges 2 tactoing fee Wmat entry should Jervis make to record the transaction? Multiple Choice Debir Accounts Receivable $4,300; credit Factoring Fee Expense $86; credit Cash $4214 Debit Accounts Receivable $4,214; debit Factoring Fee Expense $86; credit Cash $4,300. Debit Cash $4,300; credit Factoring Fee Expense $86; credit Accounts Receivable $4,300Your count of the undeposited receipts under the custody of the cashier of Abaca Company on September 30, 2020 showed the following: Coins and currency 4,950 Unused Postage Stamps 90 Checks: Date Payee Abaca Company Drawee Exporter Corporation Manda Rambong Abaca Company 9/25/2020 1,200 9/28/2020 Abaca Company 900 9/30/2020 Meralco 1,050 Travel expense vouhcer paid out of cash receipts Total per count 600 8,790 Question: Assume the cashier's accountability to be P 8,500, what was the amount of cash overage/shortage on September 30, 2020?