I need help in P7.1 in Accounting. the end of this is it's cash book so thatPE 7.1(L0]) (Determine Proper cash Bal.) FrancisEgmir. Co. Closes it's books re4larly on Dec,31, byt atthe end of 202o, this is held it's cash bookK Open so tha9.transactions The info is given below.I Janyary cash receiets rPCorded in the Dec. (ash booktotaled $45,640 of Which $28,0o0 represents cash salesand $17,640 repPresents collections on account for which cashdiscounts of $360 were given.on whichdiscounts of $250 were taken.3. The ledger has not been closed for 2020.4. The anmount Shown as in ventory was determined bY Physicalcount on Dec 31,2020.The Company uses the Periodic method of inventory.Instructions:9 Prepare any entries You consider necessary to CorrectFrancis's accounts at Deci37. To What extent was Francis Emip Co. 9ble to Show a more39,000Cash0000000Accounts Receiv.InventoryAccounts PaYi

Working capital: It shows the difference of a company's assets and its current liabilities.

Answered: Francis 31, but at Open so that r which…

Business

Accounting

Francis 31, but at Open so that r which cash Dec. Check on which inventory.

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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gleusercontent.com/viewer/secure/pdf/ki7h0e5ernovil8j8jhia898nvne1h7r/0bntlihe Tutorial 10 Submission date: 18 January 2021 before 12.00pm 1. The following are extract from the cash book and bank statement of Fifi Enterprise. Cash Book (Bank Account only) 2020 RM 2020 Dec RM Dec 1 Balance b/d 3,419 8 Basri 462 7 Farah 101 15 Farid 21 22 Ghaz 44 28 Tengku 209 31 Weiwei 319 31 Siti 246 31 Balance c/d 3,437 4,129 4,129 Bank Statement Debit Date Items Credit Balance Dec 1 Balance b/d 3,419 3,520 3,058 3,037 3,081 3,174 7 Cheque 101 11 Basri 462 20 Farid 21 22 Cheque 31 Credit Transfer: Tina 31 Bank Charges 44 93 47 3,127 Required: a) Prepare the updated cashbook. b) Prepare the bank reconciliation statement as at 31 December 2020.
Please solve as requested. Do not understand how this shall be done.
The bank columns in the cash book for June 2019 and the bank statement for that month for Phillips Hardware Company Ltd are as follows:DrCash BookCr 2019 $2019 $ 1-JunBalance b/d4,2305-JunR.Red540 7-JunP. Ryan18612-JunJ. Rebus1,557 16-JunG. Grey22516-JunY.Yale123 28-JunJ. Jim67229-JunBlister Disco66 30-JunT. Fling1,74630-JunBalance c/d4,773 7,059 7,059 Bank Statement June 2019 DrCrBalance $$$ 1Balance b/d 4,230 7Cheque 1864,416 5R.Red540 3,876 16Cheque 2254,101 17J. Rebus1,557 2,544 18Y.Yale123 2,421 28Cheque 6723,093 29SLM standing order156 2,937 30G.Rice: trader's credit 1923,129 30Bank charges129 3,000 As the accountant, you have been asked to do the following: a) Prepare an updated cashbook for the month b) Prepare a bank reconciliation statement for the month c) Advise the directors of Phillips Hardware how they can use theinternal control measures listed below to mitigate against error and fraud in the business. 1: Physical Observation 2: Authorization and Approval 3:…
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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 balance
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i need Sales journal and Cash Receipts Journal. thanks
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Required: Prepare a compound adjusting journal entry to correct the petty cash fund balance as of December 31, 2018.