F 1.2.2 CREDITORS' RECONCILIATION The information is taken from the books of WJ Traders. REQUIRED: Indicate...
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F 1.2.2 CREDITORS' RECONCILIATION The information is taken from the books of WJ Traders. REQUIRED: Indicate how the differences will affect the Creditors Ledger account and Statement of Accounts to calculate the correct balance on 30 November 2023. E INFORMATION: (12). An account statement-received from a creditor, Tinkie Tonkie on 30 November 2023 which shows that WJ Traders owes them R45 300. However, according to the Creditors' ledger of WJ Traders, the amount due is R54 700. During an investigation, the following differences were established: A B D C An invoice received from Tinkie Tonkie was correctly recorded as R18 000 by WJ Traders in the Creditors Ledger, but as R4 000 on the account statement. An invoice for R2 400 received from Tinkie Tonkie was wrongly recorded as a credit note by WJ Traders. An EFT for R11 400 on 28 November 2023 made by WJ Traders to Tinkie Tonkie does not appear on the account statement. The payment of R19 000 in respect of the settlement of the account for October 2023 which appears in the Creditors ledger was not received by Tinkie Tonkie within 7 days and therefore the discount of 5% must be cancelled. Tinkie Tonkie incorrectly showed an invoice of R5 800 for goods sold to WJ Traders as a credit note of R8 500 on the credit side of the account statement. An invoice for R1 700, received from Tinkie Donkie was mistakenly debited by WJ Traders against the account of Tinkie Tonkie. 45 F 1.2.2 CREDITORS' RECONCILIATION The information is taken from the books of WJ Traders. REQUIRED: Indicate how the differences will affect the Creditors Ledger account and Statement of Accounts to calculate the correct balance on 30 November 2023. E INFORMATION: (12). An account statement-received from a creditor, Tinkie Tonkie on 30 November 2023 which shows that WJ Traders owes them R45 300. However, according to the Creditors' ledger of WJ Traders, the amount due is R54 700. During an investigation, the following differences were established: A B D C An invoice received from Tinkie Tonkie was correctly recorded as R18 000 by WJ Traders in the Creditors Ledger, but as R4 000 on the account statement. An invoice for R2 400 received from Tinkie Tonkie was wrongly recorded as a credit note by WJ Traders. An EFT for R11 400 on 28 November 2023 made by WJ Traders to Tinkie Tonkie does not appear on the account statement. The payment of R19 000 in respect of the settlement of the account for October 2023 which appears in the Creditors ledger was not received by Tinkie Tonkie within 7 days and therefore the discount of 5% must be cancelled. Tinkie Tonkie incorrectly showed an invoice of R5 800 for goods sold to WJ Traders as a credit note of R8 500 on the credit side of the account statement. An invoice for R1 700, received from Tinkie Donkie was mistakenly debited by WJ Traders against the account of Tinkie Tonkie. 45
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