Question 2 a. The bank balance of John did not agree with the cash book debit balance of1,365,000 as at 31 July 2009. On comparing the bank statement and the cash book he found the following differences: a) The unpresented cheques amounted to 174000 b) Cheques amounting to278000banked on 29th July were not credited by the bank until 3rd October 2009. c) Bank charges amounting to 24000 had been debited in the bank account. d) Interest of 31000 on fixed deposit had been credited to the account by the bank. e) A cheque of 75000 deposited on 20th may was returned unpaid. f) Standing order amounting to 95000 had been paid by the bank. g) A cheque of 74000 had been credited in the cash book as 47000 Required: i. Adjusted cash book ii. Bank reconciliation statement b. Show the journal entries necessary to correct the following errors:

Question 2 a. The bank balance of John did not agree with the cash book debit balance of1,365,000 as at 31 July 2009. On comparing the bank statement and the cash book he found the following differences: a) The unpresented cheques amounted to 174000 b) Cheques amounting to278000banked on 29th July were not credited by the bank until 3rd October 2009. c) Bank charges amounting to 24000 had been debited in the bank account. d) Interest of 31000 on fixed deposit had been credited to the account by the bank. e) A cheque of 75000 deposited on 20th may was returned unpaid. f) Standing order amounting to 95000 had been paid by the bank. g) A cheque of 74000 had been credited in the cash book as 47000 Required: i. Adjusted cash book ii. Bank reconciliation statement b. Show the journal entries necessary to correct the following errors:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

How would I calculate this problem? I just guessed on which answer made sense to me. Please help. thank you in advance.
None
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
BOR Tutor - Solution Page 1 of 1 | Ha X A learn.hawkeslearning.com/Portal/Lesson/lesson_certify#! MSC SSO Login To Do Assignments. E Reading list E Apps BSA Violation Civil... Search FAQS for Indian Trib... CPAJ The Past, Present, a... CPAJ Fraud in a World of... You were asked to answer the following question: Consider a small photography studio with 8 workers and 5 printers. The total cost of labor and capital is $3,300. In order to reduce total operating costs, the owner leases 5 additional printers and fires 5 workers. After these changes, the salary of each worker increases by $30, the cost of using each of the printers (both new and old) remains constant, and the total cost of labor and capital decreases to $2,950. What is the cost of using one printer? The following answer is correct: First, calculate the new total quantities of workers and printers after the changes were made. New quantity of workers= 8-5= 3 workers New quantity of printers = 5 + 5 = 10 printers Assume that C,…
ompatibility Mode - Word Search Rafael Luna RL File Home Insert Draw Design Layout References Mailings Review View Help Share Comments X Times New Rom 12 AA Aa A E ALT Find Sc Replace Select AaBbCcl AaBbc AaBbCd AaBbCc. AaBbCcD Emphasis Heading 1 1 Normal Strong Subtitle Paste BIU Dictate ab x, X? ADA Sensitivity Editor Clipboard Font Paragraph Styles Editing Voice Sensitivity Editor Two projects are competing for funding at your company. The current interest rate is 5%. Project A is an Energy Saving project that costs $15,000. It doesn't save any money in Year 1. but begins in Year 2 at $1000, Year 3 at $2000, Year 4 at $3000, and Year 5 at $4000. Project B is a Water Saving project that costs $13,500. It begins saving money in Year 1 through 4 at $3000. f. Draw the cash flow diagrams g. Which should you select as the best economic alternative? Show your calculations for both alternatives for credit (and use the compound interest tables, not formulas) to justify your answer. Pay close…
Hello i have attached two pictures. They are both used together to answer the question. The first picture is the information to use too answer the question. The second attachment is the for the answer. I hope it is understandable and whoever answer this can please explain how they got the answers. I need the help. I have marked a yellow x on what i have done already. I DO NOT NEED HELP WITH WHAT IS CROSSED IN YELLOW (PARTS 1-3) I NEED PARTS 4-6. THIS IS IS IS THE ANSWER TO PARTS 1-3 Analysis and Calculation: 1) Gold Medal Athletic Co., Sales Budget: For the month ended March: Product Sales Volume Sale Price per unit Sales, $ Batting helmet 1,200 units $40 $ 48,000 Football helmet 6,500 units $160 $1,040,000 Total revenue from sales $ 1,088,000 2) Production Budget: Batting Football Helmet Helmet Expected units to be sold 1,200 6,500 Add: desired Ending inventory 50 220 Total 1,250 6,720 Less: Beginning estimated inventory 40 240 Total…
As a Chief financial officer (CFO) recommend three actions you could take regarding the company's supply chain to reduce manufacturing cost of direct materials? Which of the three would be your priority and why?
How can you display or print a batch or group of reports quickly? A. Create a memorized group of reports. B. Click Batch Reports from the Home Page C. Click Reports > Process multiple reports D. You cannot do this in Quickbooks
Any help is appreciated, here is the question. https://drive.google.com/file/d/0B-AOAJtLKPhfOEJhR0RWRWtmT3BGVVljQUZaRko0Zkh2NDRr/view?usp=sharing
How do you get a report into PDF format? Select an answer: You need to email the report and then convert it to PDF. Click on the Export button and Click on Export as PDF. You cannot export reports into PDF. You have to print the report and then scan it as a PDF.