please help with bank reconciliation

balance b/d = RM 6000

Question 1 Plava Aandoo is a trading enterprise owned by KC Plava. It's targets for the year ending 31 October 2021 are as follows: 1. Gross profit margin = 57.22% = 133.77% 2. Mark-up 3. Profit to sales (Profit margin) = 12,56% 4. Expense to sales = 59.78% 5. Return on capital = 76.09% 6. Return on Assets = 47.27% 7. Current ratio = 2.36: 1.00 8. Quick ratio a.k.a. Acid test ratio = 1.58: 1.00 9. Inventory turnover = 6.70 times = 34.48 days = 15.38 times 11. Inventory holding period (days) 12. A/R turnover 13. A/R Collection period (days) 14. A/P turnover 15. A/P Payment period (days) = 23.73 days = 8.06 times = 45.29 days 16. Time taken to convert inventory into cash = 78.21 days 17. Working Capital Cycle = 32.92 days 18. Asset turnover = 27.50% 19. Debt ratio = 53.57% 20. Equity ratio = 46.43% 21. Times interest earned = 29.25 times - Plava has been in business for several years. Plava does sales and service after sales. Plava's assets and liabilities at respective year end were as follows: 31 October 2021 31 October 2020 RM'. RM Motor vehicle 8,000 8,000 Accumulated depreciation - M/Vehicle 4,800 3,200 Office equipment 35,000 9,000 Accumulated depreciation ?? 8,100 O/Equipment Unsold goods 5,500 6,000 Unused supplies 900 500 Trade customers outstanding balance 8,200 3,500 Motor expenses owing 3,900 1,500 Rental prepaid 1,500 1,000 Unexpired insurance 600 600 Trade suppliers outstanding balance 5700 4,300 Allowance for doubtful debts 300 100 For the year ended 31 October 2021 Plava provided a cash summary for the business as follows: Receipts RM Payments RM... Balance b/d 6,000 Payment to trade suppliers 69,000 Receipts from trade customers 123,000 Motor expenses 14,200 Contribution by owner 6,000 Rental 12,000 Loan from Mrs Plava 50,000 Rates 6,000 Cr transfer - Unearned revenue 10,000 Miscellaneous expenses 11,000 Supplies purchased 3,300 Office equipment 15,000 Salaries and employee benefits 18,000 Owner withdrawals 24,000 Bank charges & commission 400 Standing order - Insurance 12,000 Plava also provided the following additional information: 1. The above cash summary has been prepared from the business current/cheque account with the bank. All receipts and payments up to 31 October 2021 have been passed through that account. 2. A cheques for RM11,000 received from trade customers were deposited in to the business bank account on 30 October 2021, but did not appear on the bank statement for October 2021; 3. One of the cheque amounting to RM4,800 was returned by the bank stating 'Refer to the Drawer'. 4. Four cheques issued with a total value of RM9,800 during October 2021 was not paid by the bank. 5. The payment to suppliers' as above included RM12,500 made by Plough Vaa another client of the bank. Plava has notified the bank of this entry. 6. Loan from Mrs Plava was received on 31 March 2021 at an interest rate of 6% per annum. Interest is payable half yearly beginning 1 November 2021. It is a ten-year loan with 10% is to be repaid at the end of every anniversary of the loan. 7. For the year ended 31 October 2021, the following summary were also provided: i. Total value of credit notes issued to trade customers RM6,400 ii. Total value of credit notes received from trade suppliers RM8,300 iii. Total value of discount received from trade suppliers as shown on the receipts received RM7,300 iv. Total value of discount given to trade customers as shown on the receipts issued RM5,400 v. 10% from the receipts from trade customers' was received from the services provided after the sales. 8. Dell-Taa is a trade supplier as well as a trade customer of Plava. A memo was prepared to indicate that both Dell- Taa and Plava agreed to offset/ contra their owing. Plava owed Dell-Taa RM7,000 and Dell-Taa owes Plava RM5,000. 9. Dee Fee Kult is Plava's cutomer, owing RM9,000 became insolvent due to the Covid-19 pandemic during the year. Dee Fee Kult only paid 30% of the debt and the remaining was written off as irrecoverable debts. The cash was received on 31 October 2021 and was not banked in. 10. Plava Aandoo sold the old office equipment costing RM9,000, on 31 March 2021 and purchased a new equipment costing RM35,000 paying RM15,000 by cheque and the balance is to be repaid over the next four years. Office equipment is depreciated at 20% per annu on cost. # Note: In answering the following questions, use the appropriate terms for the items to be presented on the financial statements. (c) Bank reconciliation as at 31 October 2021; Question 1 Plava Aandoo is a trading enterprise owned by KC Plava. It's targets for the year ending 31 October 2021 are as follows: 1. Gross profit margin = 57.22% = 133.77% 2. Mark-up 3. Profit to sales (Profit margin) = 12,56% 4. Expense to sales = 59.78% 5. Return on capital = 76.09% 6. Return on Assets = 47.27% 7. Current ratio = 2.36: 1.00 8. Quick ratio a.k.a. Acid test ratio = 1.58: 1.00 9. Inventory turnover = 6.70 times = 34.48 days = 15.38 times 11. Inventory holding period (days) 12. A/R turnover 13. A/R Collection period (days) 14. A/P turnover 15. A/P Payment period (days) = 23.73 days = 8.06 times = 45.29 days 16. Time taken to convert inventory into cash = 78.21 days 17. Working Capital Cycle = 32.92 days 18. Asset turnover = 27.50% 19. Debt ratio = 53.57% 20. Equity ratio = 46.43% 21. Times interest earned = 29.25 times - Plava has been in business for several years. Plava does sales and service after sales. Plava's assets and liabilities at respective year end were as follows: 31 October 2021 31 October 2020 RM'. RM Motor vehicle 8,000 8,000 Accumulated depreciation - M/Vehicle 4,800 3,200 Office equipment 35,000 9,000 Accumulated depreciation ?? 8,100 O/Equipment Unsold goods 5,500 6,000 Unused supplies 900 500 Trade customers outstanding balance 8,200 3,500 Motor expenses owing 3,900 1,500 Rental prepaid 1,500 1,000 Unexpired insurance 600 600 Trade suppliers outstanding balance 5700 4,300 Allowance for doubtful debts 300 100 For the year ended 31 October 2021 Plava provided a cash summary for the business as follows: Receipts RM Payments RM... Balance b/d 6,000 Payment to trade suppliers 69,000 Receipts from trade customers 123,000 Motor expenses 14,200 Contribution by owner 6,000 Rental 12,000 Loan from Mrs Plava 50,000 Rates 6,000 Cr transfer - Unearned revenue 10,000 Miscellaneous expenses 11,000 Supplies purchased 3,300 Office equipment 15,000 Salaries and employee benefits 18,000 Owner withdrawals 24,000 Bank charges & commission 400 Standing order - Insurance 12,000 Plava also provided the following additional information: 1. The above cash summary has been prepared from the business current/cheque account with the bank. All receipts and payments up to 31 October 2021 have been passed through that account. 2. A cheques for RM11,000 received from trade customers were deposited in to the business bank account on 30 October 2021, but did not appear on the bank statement for October 2021; 3. One of the cheque amounting to RM4,800 was returned by the bank stating 'Refer to the Drawer'. 4. Four cheques issued with a total value of RM9,800 during October 2021 was not paid by the bank. 5. The payment to suppliers' as above included RM12,500 made by Plough Vaa another client of the bank. Plava has notified the bank of this entry. 6. Loan from Mrs Plava was received on 31 March 2021 at an interest rate of 6% per annum. Interest is payable half yearly beginning 1 November 2021. It is a ten-year loan with 10% is to be repaid at the end of every anniversary of the loan. 7. For the year ended 31 October 2021, the following summary were also provided: i. Total value of credit notes issued to trade customers RM6,400 ii. Total value of credit notes received from trade suppliers RM8,300 iii. Total value of discount received from trade suppliers as shown on the receipts received RM7,300 iv. Total value of discount given to trade customers as shown on the receipts issued RM5,400 v. 10% from the receipts from trade customers' was received from the services provided after the sales. 8. Dell-Taa is a trade supplier as well as a trade customer of Plava. A memo was prepared to indicate that both Dell- Taa and Plava agreed to offset/ contra their owing. Plava owed Dell-Taa RM7,000 and Dell-Taa owes Plava RM5,000. 9. Dee Fee Kult is Plava's cutomer, owing RM9,000 became insolvent due to the Covid-19 pandemic during the year. Dee Fee Kult only paid 30% of the debt and the remaining was written off as irrecoverable debts. The cash was received on 31 October 2021 and was not banked in. 10. Plava Aandoo sold the old office equipment costing RM9,000, on 31 March 2021 and purchased a new equipment costing RM35,000 paying RM15,000 by cheque and the balance is to be repaid over the next four years. Office equipment is depreciated at 20% per annu on cost. # Note: In answering the following questions, use the appropriate terms for the items to be presented on the financial statements. (c) Bank reconciliation as at 31 October 2021