HI, kindly Assist me with the questions from 8 to 15 as per the screen shot attached.

Use the statements provided below to answer question 8: (a) To determine whether the double-entry principle has been applied incorrectly when transactions are recorded, an entity will prepare a trial balance. (b) A trial balance is prepared at the end of the month, (c) A trial balance also checks the arithmetical accuracy of bookkeeping. (d) Atrial balance is divided into a financial position section and a nominal accounts section. 27 ASSIGNMENT 2, SEMESTER 1 (continued) 8. Which one of the following reflects all the statements that are true? (1) (a), (c), (d) (2) (a), (b), (c), (d) (3) (b), (c), (d) (4) (a), (b), (c) (5) (a), (b), (d) Bhisho Traders donated goods to the value of R60 000 to the local children's home. Which one of the alternatives will be correct if Bhisho Traders uses the periodic inventory system? Account debited Account credited (1) Donations Drawings Donations Inventory (3) Donations Bank Donations Purchases (5) Drawings Purchases 10. Bloem Traders sold goods for R6 500 to Equip Stores. Bloem Traders uses a mark-up of 25% on cost. What is the cost price of the goods sold? 4875 5 200 1 625 1300 8 125 (4) (5) One of the transactions that can only be recorded in the cash journals once the bank statement has been received, is ... (1) an outstanding cheque. (2) interest received on a favourable balance for the bank account. (3) an outstanding deposit. (4) incorrect entries made by the bank. (5) credit limits determined by the bank. 101 101 2020 3 b.pdf 28 / 60 Use the Information provided below to answer questions 12 and 13: On 30 June 2020, the cash receipts Journal of Joburg Traders had a provisional total of R52 500, and the cash payments Journal had a provisional total of R65 000. On the same date the bank statement of Joburg Traders had a favourable balance of R55 000. The bank account in the general ledger of Joburg Traders had a favourable balance of R32 500 on 1 June 2020. 28 FAC15017101/3/2020 FAC 1501/101/3/2020 ASSIGNMENT 2, SEMESTER 1 (continued) After a comparison of the bank statement with the cash Journals was done, the following differences were noted: The following amounts have not yet been recorded in either of the cash journals for June 2020: - Monthly bank charges, R625. - Interest on overdraft, R750. - A debit order in favour of XYZ Insurers for the insurance premium of R30 000. The following cheques have not yet been presented for payment: Cheque no 175 R13 625 Cheque no 180 R6 000 Cheque no 198 R2 000 Cheque no 199 R14 750 A deposit for R7 500 on 30 June 2020 has not yet been recorded by the bank. A customer of Joburg Traders deposited R37 500 directly into the business' bank account Which one of the following is the correct presentation of the bank account in the general ledger of Joburg Traders after taking into account the above differences? Dr Cr R 2020 Jun 1 Balance Total receipts b/d CRJO6 Bank 2020 32 500 Jun 90 000 122 500 26 125 30 Total payments Balance CPJO6 cld 96 375 26 125 122 500 Jul 1 Balance b/d Dr Cr 2020 Jun 30 CPJ06 1 30 Balance Total receipts b/d CRJO6 Bank 2020 32 500 Jun 90 000 122 500 26 750 Total payments Balance old 95 750 26 750 122 500 Jul 1 Balance b/d (3) Dr 2020 Jun b/d 30 CPJ06 1 30 Balance Total receipts Bank 2020 32 500 Jun 120 000 152 500 56 750 Total payments Balance CRJO6 cld 95 750 56 750 152 500 Jul 1 Balance b/d Dr 2020 Jun CPJ06 1 30 bld CRJO6 Balance Total receipts Bank 2020 55 000 Jun 90 000 145 000 49 250 95 750 49 250 30 Total payments Balance 145 000 Jul 1 Balance b/d 29 Dr 2020 Jun 96 375 78 625 175 000 Jul 13. Bank 2020 1 Balance CPJO6 b/d 55 000 30 Jun Total payments 30 old Total receipts CRJO6 Balance 120 000 175 000 1 Balance b/d 78 625 What will the balance of the bank statement be that must be used in the bank reconciliation statement and on which side (debit or credit) of the bank reconciliation statement must the balance appear? (1) R26 125, credit side (2) R62 500, credit side (3) R55 000, debit side (4) R55 000, credit side (5) R83 875, credit side Prepayments 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 14. 15. The financial performance of an entity can be determined by preparing a ... (1) bank reconciliation statement (2) statement of cash flows (3) statement of changes in equity (4) statement of financial position (5) statement of profit or loss and other comprehensive income ---o0o-- Use the statements provided below to answer question 8: (a) To determine whether the double-entry principle has been applied incorrectly when transactions are recorded, an entity will prepare a trial balance. (b) A trial balance is prepared at the end of the month, (c) A trial balance also checks the arithmetical accuracy of bookkeeping. (d) Atrial balance is divided into a financial position section and a nominal accounts section. 27 ASSIGNMENT 2, SEMESTER 1 (continued) 8. Which one of the following reflects all the statements that are true? (1) (a), (c), (d) (2) (a), (b), (c), (d) (3) (b), (c), (d) (4) (a), (b), (c) (5) (a), (b), (d) Bhisho Traders donated goods to the value of R60 000 to the local children's home. Which one of the alternatives will be correct if Bhisho Traders uses the periodic inventory system? Account debited Account credited (1) Donations Drawings Donations Inventory (3) Donations Bank Donations Purchases (5) Drawings Purchases 10. Bloem Traders sold goods for R6 500 to Equip Stores. Bloem Traders uses a mark-up of 25% on cost. What is the cost price of the goods sold? 4875 5 200 1 625 1300 8 125 (4) (5) One of the transactions that can only be recorded in the cash journals once the bank statement has been received, is ... (1) an outstanding cheque. (2) interest received on a favourable balance for the bank account. (3) an outstanding deposit. (4) incorrect entries made by the bank. (5) credit limits determined by the bank. 101 101 2020 3 b.pdf 28 / 60 Use the Information provided below to answer questions 12 and 13: On 30 June 2020, the cash receipts Journal of Joburg Traders had a provisional total of R52 500, and the cash payments Journal had a provisional total of R65 000. On the same date the bank statement of Joburg Traders had a favourable balance of R55 000. The bank account in the general ledger of Joburg Traders had a favourable balance of R32 500 on 1 June 2020. 28 FAC15017101/3/2020 FAC 1501/101/3/2020 ASSIGNMENT 2, SEMESTER 1 (continued) After a comparison of the bank statement with the cash Journals was done, the following differences were noted: The following amounts have not yet been recorded in either of the cash journals for June 2020: - Monthly bank charges, R625. - Interest on overdraft, R750. - A debit order in favour of XYZ Insurers for the insurance premium of R30 000. The following cheques have not yet been presented for payment: Cheque no 175 R13 625 Cheque no 180 R6 000 Cheque no 198 R2 000 Cheque no 199 R14 750 A deposit for R7 500 on 30 June 2020 has not yet been recorded by the bank. A customer of Joburg Traders deposited R37 500 directly into the business' bank account Which one of the following is the correct presentation of the bank account in the general ledger of Joburg Traders after taking into account the above differences? Dr Cr R 2020 Jun 1 Balance Total receipts b/d CRJO6 Bank 2020 32 500 Jun 90 000 122 500 26 125 30 Total payments Balance CPJO6 cld 96 375 26 125 122 500 Jul 1 Balance b/d Dr Cr 2020 Jun 30 CPJ06 1 30 Balance Total receipts b/d CRJO6 Bank 2020 32 500 Jun 90 000 122 500 26 750 Total payments Balance old 95 750 26 750 122 500 Jul 1 Balance b/d (3) Dr 2020 Jun b/d 30 CPJ06 1 30 Balance Total receipts Bank 2020 32 500 Jun 120 000 152 500 56 750 Total payments Balance CRJO6 cld 95 750 56 750 152 500 Jul 1 Balance b/d Dr 2020 Jun CPJ06 1 30 bld CRJO6 Balance Total receipts Bank 2020 55 000 Jun 90 000 145 000 49 250 95 750 49 250 30 Total payments Balance 145 000 Jul 1 Balance b/d 29 Dr 2020 Jun 96 375 78 625 175 000 Jul 13. Bank 2020 1 Balance CPJO6 b/d 55 000 30 Jun Total payments 30 old Total receipts CRJO6 Balance 120 000 175 000 1 Balance b/d 78 625 What will the balance of the bank statement be that must be used in the bank reconciliation statement and on which side (debit or credit) of the bank reconciliation statement must the balance appear? (1) R26 125, credit side (2) R62 500, credit side (3) R55 000, debit side (4) R55 000, credit side (5) R83 875, credit side Prepayments 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 14. 15. The financial performance of an entity can be determined by preparing a ... (1) bank reconciliation statement (2) statement of cash flows (3) statement of changes in equity (4) statement of financial position (5) statement of profit or loss and other comprehensive income ---o0o