The following Pre-adjustment Trial Balance was taken from the books of Jakarta Traders for the year-ended 28 February 2021 Fol DEBIT CREDIT Statement of financial position section Capital 939 540 Drawings 16 000 Land and buildings 1 100 000 Vehicles 480 000 Accumulated depreciation: Vehicles 120 000 Fixed Deposit: ABC Bank 85 700 Trading inventory 42 740 Petty cash 2 000 Bank 8 920 Debtors Control 27 820 Allowance for credit losses 2 000 Creditors Control 12 140 Long-term loan: XYZ Bank 744 000 Nominal accounts section Sales 1 236 000 Sales returns 36 000 Cost of sales 976 000 Rent income 52 000 Interest on fixed deposit 7 840 Telephone 76 080 Interest on long term loan 119 040 Salaries and wages 43 320 Advertising 18 000 Postage and stationery 9 500 Insurance 80 000 Credit losses 10 240 3 122 440 3 122 440

The following Pre-adjustment Trial Balance was taken from the books of Jakarta Traders for the year-ended 28 February 2021 Fol DEBIT CREDIT Statement of financial position section Capital 939 540 Drawings 16 000 Land and buildings 1 100 000 Vehicles 480 000 Accumulated depreciation: Vehicles 120 000 Fixed Deposit: ABC Bank 85 700 Trading inventory 42 740 Petty cash 2 000 Bank 8 920 Debtors Control 27 820 Allowance for credit losses 2 000 Creditors Control 12 140 Long-term loan: XYZ Bank 744 000 Nominal accounts section Sales 1 236 000 Sales returns 36 000 Cost of sales 976 000 Rent income 52 000 Interest on fixed deposit 7 840 Telephone 76 080 Interest on long term loan 119 040 Salaries and wages 43 320 Advertising 18 000 Postage and stationery 9 500 Insurance 80 000 Credit losses 10 240 3 122 440 3 122 440

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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c) The followings are the cash book and the bank statement of Alison Baker for the month of November 2017: i) Date 2021 ii) Nov 16 G. Philip 21 J. Forker 31 S. O'Hare 31 Balance c/d REQUIRED: Date 2021 Nov 1 8 16 20 21 31 31 31 Details Balance T. MacLeod Cheque W. Milne Cash book Bank 292 369 192 1,682 5,048 Cheque G. Frank: trader's credit Standing Order Bank Charges Date 2021 Bank statement Illustrate the cash book up to date. Nov 1 6 30 W. Milne 29 S. Porter Balance T. MacLeod Debit 184 160 32 19 292 369 88 Bank Credit Balance Illustrate a bank reconciliation statement as at 31 November 2021. 4,200 184 160 504 5,048 4,200 O/D 4,384 O/D 4,092 O/D 4,252 O/D 3,883 O/D 3,795 0/D 3,827 0/D 3,846 O/D
Hespeler services financial accounting information for the year ending October 2019 is presented below , assume all accounts have a normal balance
The bank statement for Unique Fashion had an ending cash balance of $2,200 on April 30, 2022. On this date the cash balance in their general ledger was $3,678. After comparing the bank statement with the company records, the following information was determined. The bank returned an NSF cheque in the amount of $350 that Unique Fashion deposited on April 20. The NSF service fee was $9. A direct deposit received from a customer on April 29 in payment of their accounts totaling $3,780. This has not yet been recorded by the company. On April 29, the bank deposited $16 for interest earned. The bank withdrew $35 for bank service charges. Deposits in transit on April 30 totalled $4,880. Required Reconcile the ledger and bank statement and create the required journal entries. Do not enter dollar signs or commas in the input boxes. Do not use negative signs. Select the proper order for the headings of the Bank Reconciliation. Cash balance per bank statement Add Outstanding deposit Adjusted bank…
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Question 3 You are required to prepare a sales ledger control account from the following for the month of May. The balance of the account is to be taken as the total of accounts receivable as on 31 May. 2019 May 1 Debit balances Totals for May: Sales journal Cash and cheques received from accounts Discounts allowed receivable Debit balances in the sales ledger set off against credit balances in the purchase ledger 31 Credit balances RM 6,420,000 12,800,000 10,370,000 395,000 145,000 50,000 REQUIRED: Indicate whether the balance of accounts payable is right or wrong. Prepare the sales control accounts.
Question Completion Moving to another question will save this response. Question 6 AMA Company's bank statement for 31st December 2021 showed a cash balance of $2750. The company's Cash account in its general ledger showed a $2000 debit balance. The following information was also available as of December 31st a. A $900 NSF check from a customer, J. Steel is shown on the bank statement but not yet recorded by the company. b. The December 31st cash receipts, $3,250, were placed in the bank's night depository after banking hours and this amount did not appear on the December 31st bank statement. c. A $59 debit memorandum for checks Book deducted by the bank. d. Outstanding checks amounted to $2,339. e. A customer's note for $2,790 was collected by the bank. A collection fee of $20 was deducted by the bank and the difference was deposited in the account. f. The bank erroneously deducts a check for $150 by mistake. Required: Prepare a bank reconciliation as of December 31st format: W
create a t account for this month
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a) prepare the genral journal entries necessary to update the Bank account in the general ledger for Nov 2017\ b) prepare the bank reconcilation as at 30 Nov 2017
Required information Skip to question [The following information applies to the questions displayed below.]The August bank statement and cash T-account for Martha Company follow: BANK STATEMENT Date Checks Deposits Other Balance August 1 $ 13,600 August 2 $ 120 13,480 August 3 $ 9,300 22,780 August 4 220 22,560 August 5 160 22,400 August 9 530 21,870 August 10 130 21,740 August 15 3,100 24,840 August 21 220 24,620 August 24 15,500 9,120 August 25 5,650 14,770 August 30 620 14,150 August 30 Interest earned $ 20 14,170 August 31 Service charge 10 14,160 Cash (A) Debit Credit August 1 Balance 13,600 Deposits Checks written August 2 9,300 120 August 1 August 12 3,100 220 August 2 August 24 5,650 160 August 3 August 31 4,100 130 August 4 530 August 5 200 August 15 280 August 17 620 August 18 220 August 19…
Question 2 Simone Gabby owns and operates Simone's Shoes, a small business that prepares reports on a monthly basis. The Cash Journals for August 2019 appear as follows. Cash Receipts Journal (summary) Disc. Accounts Date Details Rec. Bank Sales Sundries GST Еxp. Receivable 31/08 Totals 13 783 154 7 700 5 670 567 Cash Payments Journal (summary) Disc. Асcounts Date Details Chq. Bank Inventory Wages Sundries GST Rev. Payable 31/08 Totals 18 030 44 2 200 3 000 2 730 9 547 597 The items in the Sundries column include: Advertising $540 Drawings $5 000 Freight Inwards $440 Freight Outwards $190 GST Settlement $927 Interest Expense $150 Loan – ANZ Bank $500 Rent $1 800 a. Prepare the Net Cash Flow from Operations extract from the Cash Flow Statement for the month ending 31 August 2019. b. Explain how Simone’s Shoes’ Income Statement for the month ended 31 August 2019 reported a Net Profit yet the Cash Flow Statement reported a Net Decrease in Cash for the same period.