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please answer this for me in due in a few 34. Sally's balance in her cash book is $160 debit. However, the bank statement shows
please answer this for me in due in a few
34. Sally's balance in her cash book is $160 debit. However, the bank statement shows a different amount. On investigation, Sally discovered the following; 1. A cheque that Sally paid into the bank for $40 is still outstanding 2. A cheque for $60 paid by Sally to Molly has not yet been presented 3. Sally has forgotten to record a cash withdrawal of $30 4. When sally inspects her bank statement she sees that the bank has deducted charged of $15 from her account What is the balance on Sally bank statement? a) $95 b) $135 c) $185 d) $225 35. Avalon gives his customers individual trade discounts from the list price and a general 5% cash discount for all invoices settled within seven days of issue. A new customer, Nolava, negotiates a 25% trade discount. His transactions during June are: 12 June Buys goods with a $5,000 list price 15 June Return goods with a $1,000 list price as faulty 16 June Pays half of the net balance on his account How much does Nolava owe Avalon at the end of June? a) $1,425 b) $1,500 c) $2,000 d) $2,850 36. Richard has a balance of $350,000 on his payable ledger control account at the end of May. What does this mean? a) He has bought $350,000 of goods in May b) He is owed $350,000 by his customers c) He owes $350,000 to his suppliers d) He has paid $350,000 to his suppliers in May 37. Melanie is a sales tax registered trader. Her purchases day book shows purchases of $2,000 net of sales tax at 20% What double entry will Melanie post at the end of her day's trading? a) Dr Purchases $2,000 Cr Payables $2,000 b) Dr Purchases $2,400 Cr Payables $2,400 c) Dr Payables $2,400Cr Purchases $2,000Cr Sales tax $400 d) Dr Purchases $2,000 Dr Sales tax $ 400 Cr Payables $2,400 38. Seb packs goods on an assembly line. He is paid a different amount each week, depending on his output of assembled goods By what method of remuneration is Seb paid? a) Piecework b) Commission c) Hourly rate d) Salaried 39. The following ledger balances make up a company's trial balance? What is the total of the debit column of the trial balance? a) $94,900 b) $104,700 c) $105,900 ) $209400 40. Susan is a computer equipment dealer. She uses the following coding system for her financial Danielle buys computer equipment worth $2,000 on credit from Susan Which of the following would be the code recorded on the voice issued by Susan? a) 100300 b) 100400 c) 200300 d) 200500 Step by Step Solution
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