Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hi, could someone answer from question 13 onwards please, experts are telling me they can only answer one mcq at a time and then others

hi, could someone answer from question 13 onwards please, experts are telling me they can only answer one mcq at a time and then others are saying they can answer a max of 4

any help would be appreciated, thanks image text in transcribedimage text in transcribed

8. Transaction "e" will be recorded in the ... (1) sales journal of Soweto Traders. (2) cash payments journal of Soweto Traders. (3) general journal of Soweto Traders. (4) purchases journal of Soweto Traders. (5) cash receipts journal of Soweto Traders. 9. Transaction "b" will be recorded in the ... (1) sales journal of Soweto Traders. (2) purchases journal of Soweto Traders. (3) cash receipts journal of Soweto Traders. (4) purchases returns journal of Soweto Traders. (5) cash payments journal of Soweto Traders. 10. Transaction "c" will be recorded in the ... (1) cash receipts journal of Soweto Traders. (2) general journal of Soweto Traders. (3) cash payments journal of Soweto Traders. (4) sales journal of Soweto Traders. (5) purchases journal of Soweto Traders. 11. Transaction "d" will be recorded in the ... (1) sales returns journal of Soweto Traders. (2) purchases returns journal of Soweto Traders. (3) cash payments journal of Soweto Traders. (4) cash receipts journal of Soweto Traders. (5) general journal of Soweto Traders. 12. Which one of the following transactions can only be recorded in the adjusted cash payments journal once the bank statement has been received? (1) Outstanding deposits. (2) Interest charged on bank overdraft. (3) Outstanding cheques. (4) Incorrect entries made by the bank. (5) Direct deposit made by a tenant. Use the information provided below to answer question 13: On 30 September 2020, the cash receipts journal of Mamelodi Traders had a provisional total of R10 500, and the cash payments journal of Mamelodi Traders had a provisional total of R13 000. On the same date the bank statement Mamelodi Traders had a credit balance of R5 000. The general ledger bank account of Mamelodi Traders had an unfavourable balance of R2 500 on 1 September 2020. A comparison of the bank statement with the cash receipts journal and the cash payments journal revealed the following differences: A deposit of R7 500 on 30 September 2020 has not yet been recorded by the bank. The following cheques have not yet been presented for payment by 30 September 2020: Cheque number: 789 - R2 725 796 - R20 000 799-R3 200 A cheque for R3 600 which was originally received from a debtor, Mr T Stevens, was returned by the bank due to insufficient funds in Mr T Stevens' bank account. The bank statement included a credit entry of R2 800 which a customer, Mrs J Sithole, deposited directly into Mamelodi Traders' bank account. The following amounts have not yet been recorded in either of the cash journals for September 2020: Interest on overdraft, R150. Monthly bank service fees, R125. A debit order in favour of Lee Insurers for the insurance premium to the amount of R7 350. 13. The total of the bank column in the adjusted cash receipts journal of Mamelodi Traders on 30 September 2020, after taking the above differences into account, is R (1) 10 500 (2) 13 450 (3) 13 300 13 575 (5) 16 900 14. Income received in advance are shown as ... in the statement of financial position? (1) non-current liabilities (2) equity (3) current assets (4) non-current assets (5) current liabilities 15. Fixed deposits are shown as ... in the statement of financial position? (1) non-current liabilities (2) equity (3) current assets (4) non-current assets (5) current liabilities

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Ch 1-12

Authors: Dansby

5th Edition

0763834955, 978-0763834951

More Books

Students also viewed these Accounting questions

Question

Describe six biases affecting perception.

Answered: 1 week ago

Question

State the three objectives of the book.

Answered: 1 week ago