i only need help with question 1 qnd 2. no need for question3. Screenshot 20 is an aditional information, there was a mistake onthe dates, but the correction is on screenshot 22. a quick reminder that this is not a test or exam, its more kind of revision
My VC | The IIE's V X Bb Lecturer Slides - A x 5 Module Options X Module Manual/G x 5 Microsoft Word - / X Homework Help - 5 Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 3 /9 Cheque counterfoils of Underwood Traders- January 2020 Date Cheque Counterfoil no. Amount (R) 3 -Q306 6 540 12 CQ307 2 410 16 CQ308 12 500 17 CQ309 23 560 20 CQ310 1 470 21 CQ311 3 260 22 CQ312 15 320 23 CQ313 27 650 26 CQ314 8 950 29 CQ315 2 250 103 910 Type here to search 9 W 10:47 AM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X Module Manual/G X 5 Microsoft Word - / X Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 4 20 2020 Deposit slips of Underwood Traders- January 2020 Date Deposit Slip no. Amount (R) 5 DS206 8 900 12 DS207 32 400 18 DS208 17 430 20 DS209 9 650 21 DS210 27 890 22 DS211 36 540 132 810 Bank Statement from Capital Bank for Underwood Traders- January 2020 Date Description Debit(R) Credit(R) Balance(R) 1 Balance 405 670 Cr 1 CQ276 12 450 393 220 Cr 1 Deposit 18 700 411 920 Cr Type here to search 9 W AD () 10:47 AM 2020/09/04My VC | The IIE's V X Bb Lecturer Slides - A x 5 Module Options X Module Manual/G X 5 Microsoft Word - / X *Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf 132 810 Bank Statement from Capital Bank for Underwood Traders- January 2020 Date Description Debit(R) Credit(R) Balance(R) 1 Balance 405 670 Cr 1 CQ276 12 450 393 220 Cr 1 Deposit 18 700 411 920 Cr 3 CQ306 6 540 405 380 Cr 5 Deposit 8 900 414 280 Cr 7 Correction of error on deposit 500 411 780 Cr 7 Monthly Service fees 1 760 410 020 Cr 12 CQ307 2 410 407 610 Cr 12 Deposit 32 400 440 010 Cr 15 Debit Order 3 420 436 590 Cr 15 Internet bank fees 320 436 270 Cr 16 CQ308 12 500 423 770 Cr 17 CQ298 21 560 402 210 Cr 18 Deposit 15 430 417 640 Cr 20 CQ310 1 470 416 170 Cr 20 Deposit 2 400 418 570 Cr CQ311 1 260 417 310 Cr 22 Deposit 36 540 453 850 Cr 23 CQ313 27 650 426 200 Cr 23 CQ313 27 650 398 550 Cr Type here to search 9 W 10:48 AM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X Module Manual/G X Microsoft Word - / X Homework Help - 5 Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf 23 CQ313 27 650 426 200 Cr 23 CQ313 27 650 398 550 Cr 26 Transaction Fees 670 397 880 Cr 20 2020 27 CT402 13 400 384 480 Cr 28 Interest on credit balance 1 450 385 930 Cr 29 CQ315 2 250 383 680 Cr 30 Debit Order- Sky Wise 970 382 710 Cr 30 Debit Order-JB Properties 12 800 369 910 Cr 30 Deposit 24 860 394 770 Cr Additional information: 1) Cheque no. CQ221 is now stale and must be cancelled. 2) The bank has recorded cheque CQ311 at the incorrect amount. 3) The deposit corresponding with DS208 was credited on the bank statement at the correct amount of R 15 430. 4) The bank statement reflects a direct deposit (R 24 860) on 30 June, this was from tenant, K. Type here to search 9 W AD ) 10:48 AM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X 5 Module Manual/G X Microsoft Word - / X Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 5 / 9 amount of R 15 430. 4) The bank statement reflects a direct deposit (R 24 860) on 30 June, this was from tenant, K. Moody for his January rent. 5) The debit order of R 3 420, reflected on the bank statement, was in favour of Cellfirst who is the business's cellphone provider. 6) The direct deposit on 20 January was a dividend received from XY Capital. 7) Cheque no CT402 was incorrectly debited to the business bank account. 8) The debit order in favour of Sky Wise is in favour of monthly fibre costs. 9 ) The debit order in favour of JB Properties is for the business rent expense. 10) CQ313 was incorrectly debited twice on the bank statement. Required: Use the information given above to complete the following for January 2020: Q.1.1 Record any differences identified in the bank reconciliation process in a (7%/2) supplementary cashbook receipts and payments with columns for details and amount. Begin with the totals before any amendments. Q.1.2 Open, post to and balance the bank account in the general ledger. (3%/2) Q.1.3 Compile the bank reconciliation statement as at 31 January 2020. (6) Type here to search 9 W AD () 10:48 AM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X 5Module Manual/G X Microsoft Word - / X Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 6 /9 20 2020 Q.1.4 After you have completed a bank reconciliation, there can be numerous un- (3) reconciled bank statement debits. In your own words, explain the difference between a debit order and a stop order. Question 2 (Marks: 30) The following information was taken from the books of Dumbledore Magic World for April and May 2019. List of balances in the Debtors ledger of Dumbledore Magic World as at 30 April 2019 Debtor Fol. |Amount(R) H. Potter D1 16 780.45 H. Granger D2 20 750.22 R. Weasley D3 13 240.33 L. Voldermort + D4 8 650.12 D. Malfoy D5 12 400.08 Type here to search 9 W 10:49 AM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X 5 Module Manual/G X 5 Microsoft Word - / X Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 6 / 9 Debtors Journal of Dumbledore Magic World - May 2019 Doc Date Details Fol . Debtors Output Sales No Control VAT INV478 2 H. Granger DZ 24 560.26 3 203.51 21 356.75 INV479 8 L. Voldemort D4 45 970.65 5 996.17 39 974.48 INV480 H. Potter D1 14 600.76 1 904.45 12 696.31 INV481 15 D. Malfoy D5 18 730.55 2 443.12 16 287.43 INV482 18 R. Weasley D3 27 640.11 3 605.23 24 034.88 INV483 24 H. Potter D1 33 210.79 4 331.84 28 878.95 164 713.12 21 484.32 143 228.80 + 20 2020 Type here to search 9 W AD (1) 10:49 AM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X Module Manual/G X Microsoft Word - / X Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 7 /9 20 2020 Debtors allowances journal of Dumbledore Magic World- May 2019 Do Date Details Fol. Debtors Input VAT Sales No. Control Returns CN145 4 H. Granger D 10 750.65 1 402.26 348.39 CN146 14 H. Potter D1 3 670.67 478.78 3 191.89 CN147 25 R. Weasley D 17 640.56 2 300.94 15 339.62 CN148 27 H. Potter D1 12 650.86 1 650.12 11 000.74 44 712. 74 5 832.10 38 880.64 Cashbook Receipts of Dumbledore Magic World- May 2019 Doc Date Details Fol. Bank Debtors Output Sales Sundries No. control VAT Amount Fol. Details CRR567 1 FG.Limited 54 320.98 7 085.35 47 235.63 CRR568 5 J.Jonas 8 430.55 1 099.64 7 330.91 Service Fee DR236 15 H.Potter D1 5 000.00 5 000.0 CRR569 17 Cash 16 320.78 2 128.80 14 191.98 DR237 20 D.Malfoy 29 574.09 29 574.09 + DS DR238 20 H.Potter D1 41 106.95 41 106.95 154 753.35 75 681.04 10 313.79 61 427.61 7 330.91 Type here to search 9 W 10:49 AM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X Module Manual/G X 5 Microsoft Word - / X Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 8 / 9 20 2020 General Journal of Dumbledore Magic World- May 2019 Doc No. Date Details Fol. Debit Credit JV54 20 Sales 1 353.50 Input VAT 203.03 Debtors Control DS 1 556.53 (D.Malfoy) (Settlement discount of 5%) JV55 29 Sales 1 881.32 Input VAT 282.20 Debtors Control D1 2 163.52 (H. Potter) (Settlement discount of 5%) JV56 31 Credit Losses 47 496.32 Input VAT 7 124.45 's Control D4 54 620.77 (L. Voldemort) (Amount written off as irrecoverable) + JV57 31 Debtors Control( H. Granger) D2 3 455.98 Interest Received 3 455.98 (Interest on overdue account at 10% per annum) Type here to search 9 W 10:50 AM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X Module Manual/G x 5 Microsoft Word - / X *Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 8 / 9 The bank statement at the month end revealed the following: The cheque received from H. Potter on 29 May 2019 in settlement of his account was returned by the bank marked R/D on 31 May 2019. This transaction was not accounted for and no journal entry has been processed. These entries need to be processed. 20 2020 + Required: Q.2.1 Open, post to and balance the debtors control account in the general ledger of (15) Dumbledore Magic World for May 2019. The balance brought down on 1 May 2019 was R 71 821.20 Type here to search 9 W 10:50 AM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X 5 Module Manual/G X Microsoft Word - / X Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 9 / 9 Q.2.2 Prepare the individual account of H. Potter in the debtors ledger of Dumbledore (15) Magic World for May 2019. Question 3 (Marks: 10) After all the ledgers had been drawn up, the following differences and errors were identified. Indicate with a cross (X) where you would correct each of the differences and errors listed below, and explain your reasoning as so how, why and where you will make the correction: Hint: some might need to be corrected in more than one place. Difference or error Debtors control Debtors list E.g. The total sales return column in X the Debtors Allowance Journal was posted to the debit side of the Debtors Sales returns reduce the amount owing by a debtor. Control Account. The error has occurred in the Debtors control account only, thus there will be no impact on the individual debtor's account. The debtors control account should be credited twice. + A credit invoice (issued by the business) has not been recorded at all. The Debtors control column in the debtors journal was "undercast". Type here to search 9 W 10:50 AM 2020/09/04My VC|T X Bb Lecturer X 3 Module ( x 5 Module \\ X Microsoft X 5 5KM_367 x 5 Microsoft X Course H X Microsoft X (180) Pho x + X -> C portal.iie.ac.za/Student%20Manuals/ACBP5122_Accounting_1B/2020/Take%20Home%20Test%201%20Addendum.pdf MICTOSOIL WORD . ADDENDUM ACDPOTTZ, AGDP3122 Questom typo ACBP5112/ACBP5122 Test 1 Question Paper Good Day Please note that there is a typo on Question 1 Point 4 of the additional information. The date given of "30 June" should be "30 January" as indicated in red below: Additional information: 1) Cheque no. CQ221 is now stale and must be cancelled. 2) The bank has recorded cheque CQ311 at the incorrect amount. 3) The deposit corresponding with DS208 was credited on the bank statement at the correct amount of R 15 430. 4) The bank statement reflects a direct deposit (R 24 860) on 30 January, this was from tenant, K. Moody for his January rent. 5 ) The debit order of R 3 420, reflected on the bank statement, was in favour of Cellfirst who is the business's cellphone provider. 6) The direct deposit on 20 January was a dividend received from XY Capital. 7) Cheque no CT402 was incorrectly debited to the business bank account. 8) The debit order in favour of Sky Wise is in favour of monthly fibre costs. 9 ) The debit order in favour of JB Properties is for the business rent expense. 10) CQ313 was incorrectly debited twice on the bank statement. Please could you advise students accordingly and this addendum will also be uploaded for students. Apologies for any inconvenience caused. Type here to search 9 W 2:55 PM 2020/09/04My VC | The LIE's V X Bb Lecturer Slides - A x 5 Module Options X 5 Module Manual/G X 5 Microsoft Word - / X Homework Help - Microsoft Word - / X + X C @ File | C:/Users/user/Documents/Take-Home%20Test%201.pdf Microsoft Word - ACBP511271_C19 3 /9 20 2020 Question 1 (Marks: 20) The following information was taken from the books of Underwood Traders for December 2019 and January 2020: Items appearing on the bank reconciliation statement of Underwood Traders as at 31 December 2019 Bank Reconciliation Statement of Underwood Traders as at 31" December 2019 Details Amount (R) Balance per bank statement (favourable) 405 670 Outstanding cheques: No CQ221 6 780 No CQ276 12 450 No CQ298 21 560 No CQ305 13 240 + Outstanding deposit: DS205 18 700 Correction of bank error on Deposit DS200- amount overstated by Bank 2 500 Balance per Bank account( favourable) 367 840 Type here to search MOE 9 W 10:46 AM 2020/09/04
