The following transaction happened on Gulf bank for the saving account of Sara and saving account of Amna 1- on 1/1/2022 Sara has opened a saving account on Gulf Bank and deposited 1000BD on her account 2- on 6-1-2022 the bank has deducted from Sara saving account 2 BD as a revenue fees 3- on 7-1-2022 Sara has Withdrawal 500BD cash from her saving account 4- on 8-1-2022 Aman opened a saving account on gulf bank, she deposits 500 BD 5- on 9-1-2022 Aman's saving account has received a 350 BD from Sara's saving account 6- on 10-1-2022 Aman has Withdrawal 200 BD from her saving account 7- on 11-1-2022 Amna has transferred 200 BD to saving of Sara 8- on 31/1/2022 the bank paid to the saving account of Amna 20 BD as an interest Requirements: 1- Record the above transaction on Gulf Bank Books 2- Prepare a ledger account for Sara saving account and Aman saving account

Q: Transactions and balances for Diana Wonder are provided below: • 31 Jul 2020 Bank Statement balance…

A: Bank reconciliation is the process of checking out the difference between bank balance and cash…

Q: Jul 2 Recommended to the owner, Jen Beck, that she put some of the cash into a Money Market…

A: QuickBooks is an accounting software package which has various tools like accounting, inventory,…

Q: - 5 The U.S. Chamber of Commerce provides a free monthly bank reconciliation template at…

A: The answer is as fallows

Q: n Pharoah Inc. owns these assets at the statement of financial position date: Cash in bank (savings…

A: Post dated check are not considered as cash and cash equivalentsIncome tax refund is not considered…

Q: What is double entry for the following transaction: Paid MK20000 of the cash in hand into bank…

A: The objective of this question is to understand the double entry for the transaction where MK20000…

Q: 4. Find the balance after each check/deposit Trans Type Date Description of Transaction Payment/…

A: Bank Pass Book is the ledger account of the account holder in the books of bank. In pass book every…

Q: At the end of the month of July you close the books of your company and received the bank statement.…

A: Bank reconciliation adjusting entries are journal entries made to correct the book balance of the…

Q: Bank Reconciliation Lidia has the following information from her books and her August bank…

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Q: 9. What double entry is required to close off the following bank account at the end of the…

A: Bank account is a current asset of the business. This account normally have debit balance. So, it's…

Q: Please answer all the following questions as appear in the pictures, below: 1- Cash Receipts and…

A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…

Q: Perform a bank reconciliation. a) Reconcile Jack Steel’s month end cash balance as of 31 Jul 2019…

A: Bank reconciliation refers to the reconciliation of cash balance as per bank passbook with the cash…

Q: Venus Waldo reviewed her account statement and wanted to verify that the interest amount was…

A: Interest: It refers to the monetary charge on the amount borrowed by the borrower from the lender.…

Q: Nov. 8 Natalie cashes her U.S. Savings Bonds and receives $520, which she deposits in her personal…

A: please like the answer your response matters   Date Account titles     Debit Credit     Nov. 8…

Q: The following information relates to the cash position of Cathy Fraser, loan broker: 1. Cash at Bank…

A: The objective of this question is to prepare a bank reconciliation statement for Cathy Fraser, loan…

Q: How do you journalizing this transaction on april1  .Ali deposit 20000 in a bank account in the name…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: 1. You prepared the check on June 3, 2026 (Check 71), went to the bank and cashed the check.  On the…

A: Petty cash is maintain in order to make payment towards day to day small expense in cash.

Q: c. Compare the amounts of money that Mitch and Bill deposit into their accounts.   Mitch deposits…

A: Data given: Mitch began depositing ​$1400 per year into a savings account for the first 10​ years.…

Q: None

A: The bank reconciliation statement is prepared to equate the balances of the cash book and passbook…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is