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QUESTION 1 After all the General ledger and Subsidiary ledgers had been drawn up the following differences and errors were identified. Select where the differences
QUESTION 1 After all the General ledger and Subsidiary ledgers had been drawn up the following differences and errors were identified. Select where the differences and errors must be corrected. The same answer may be used more than once. (Note only the Debtors/Creditors side of the entry need be considered). The total purchase return column in the creditors Allowance Journal was posted to the credit side of the Creditors Control account. This must be adjusted in the ....... No entry has been made for a dishonoured cheque previously A. Credited with R120 received from a Debtor. This must be adjusted for in the B. Debited with R240 A duplicate credit note was not recorded at all. This will need to be adjusted for in.... C. Debited with R120 A credit invoice was incorrectly posted to the wrong creditors D. Creditors list and the Creditors Control. account. This must be adjusted for in the .......... E. Debited with R120 A cheque made out to R. Smith, a creditor, was identified in the - bank reconciliation process as being Stale. This must be adjusted F. Debit Creditors list with R1700. for in the...... G. Creditors Control The total of the cashbook payments journal was overcast by R900. H. Creditors Control This must be adjusted for in the .... I. Debit Debtors Control and Credit Creditors Control A debtor was charged R120 interest on their overdue account. The general journal entry was J. Debtors control and Creditors Control. posted to the wrong side of the control account. K. Debit Creditors Control and Credit Debtors Control The debtors control account must be L. Debtors List A original credit invoice of R1880 was posted to the creditors M. Debtors Control and the Debtors List account as R180. The entry to correct this is: N. Credit Creditors List with R1700 The total of the Debtors allowance journal was posted to the credit side of the Creditors Control account. The error must be corrected O. Creditors List in the A debtor had a credit balance of R2500. The entry in the Control accounts to transfer this to the Creditors Control is
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