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Question: Prepare a cash receipt and cash payment journals using the following transactions. * Transaction 1 * An electronic funds transfer ( EFT ) proof
Question: Prepare a cash receipt and cash payment journals using the following transactions. Transaction An electronic funds transfer EFT proof of payment was received from one of Zodeqs clients PineApple pStore Inc. on February The proof of payment was emailed to Zodeq. The payment relates to PineApples outstanding balance of R As part of the agreement between Zodeq and PineApple, Zodeq grants an early settlement discount. The payment reflected on the bank statement on the same date that the proof of payment was received. You recall having a copy of the Service Level Agreement SLATransaction During January Zodeq performed maintenance and helpdesk services to one of their standing clients, Counterpart Technologies PLC CTP As part of the service level agreement between Zodeqand CTP services are performed and invoiced monthly. The terms of the agreement states that the invoice for the previous months services are raised before the th of the following month and the fee remains fixed until June The invoice for December amounting to R was raised on the th of January andwas unpaid at January On February payment for the December invoice was received. The invoice for January was created by the owner on the th of February and is still outstanding at February Neither the invoice nor the payment from CTP has yet been accounted for in the relevant journals and ledgersTransaction The telephone, Fibre internet and mobile phone expense for the month of January has not yet been accounted for in the accounting records. A statement from the service provider, Star Mobile, indicated the expense for the January calendar month. This transaction has never been accounted for but has been paid via a direct debit order on February The Star Mobile service is a recurringservice every month. The service fee for the landline and mobile phone services are expected to be based on useage of minutes and minutes respectively for February useage. The February invoice has not yet been received by Zodeq. The direct debit order for February service is scheduled for March Transaction A payment of R was made to Gooble Inc. on February This payment related to Gooble adverts for Zodeq and direct online marketing performed by Gooble Inc. Zodeq receives a cash discount as per the agreement between Goobleand Zodeq. The amount paid was after deducting the discount. The amount reflects on the bank statement. No accounting entries has yet been made for this transaction. No invoice was received from Gooble Inc. for this transaction. Transaction Zodeq completed the design service of another application for Mr Benjamin Gaits on February On the same date an invoice was raised to Mr Benjamin Gaits for R This transaction has not yet been recorded.Transaction During January Zodeq performed maintenance and helpdesk services to one of their standing clients, Counterpart Technologies PLC CTP As part of the service level agreement between Zodeqand CTP services are performed and invoiced monthly. The terms of the agreement states that the invoice for the previous months services are raised before the th of the following month and the fee remains fixed until June The invoice for December amounting to R was raised on the th of January andwas unpaid at January On February payment for the December invoice was received. The invoice for January was created by the owner on the th of February and is still outstanding at February Neither the invoice nor the payment from CTP has yet been accounted for in the relevant journals and ledgersTransaction The telephone, Fibre internet and mobile phone expense for the month of January has not yet been accounted for in the accounting records. A statement from the service provider, Star Mobile, indicated the expense for the January calendar month. This transaction has never been accounted for but has been paid via a direct debit order on February The Star Mobile service is a recurringservice every month. The service fee for the landline and mobile phone services are expected to be based on useage of minutes and minutes respectively for February useage. The February invoice has not yet been received by Zodeq. The direct debit order for February service is scheduled for March Transaction A payment of R was made to Gooble Inc. on February This payment related to Gooble adverts for Zodeq and direct online marketing performed by Gooble Inc. Zodeq receives a cash discount as per the agreement between Goobleand Zodeq. The amount paid was after deducting the discount. The amount reflects on the bank statement. No accounting entries has yet been made for this transaction. No invoice was received from Gooble Inc. for this transaction. Transaction Zodeq completed the design service of another application for Mr Benjamin Gaits on February On the same date an invoice was raised to Mr Benjamin Gaits for R This transaction has not yet been recorded.
Question: Prepare a cash receipt and cash payment journals using the following transactions. Transaction An electronic funds transfer EFT proof of payment was received from one of Zodeqs clients PineApple pStore Inc. on February The proof of payment was emailed to Zodeq. The payment relates to PineApples outstanding balance of R As part of the agreement between Zodeq and PineApple, Zodeq grants an early settlement discount. The payment reflected on the bank statement on the same date that the proof of payment was received. You recall having a copy of the Service Level Agreement SLATransaction During January Zodeq performed maintenance and helpdesk services to one of their standing clients, Counterpart Technologies PLC CTP As part of the service level agreement between Zodeqand CTP services are performed and invoiced monthly. The terms of the agreement states that the invoice for the previous months services are raised before the th of the following month and the fee remains fixed until June The invoice for December amounting to R was raised on the th of January andwas unpaid at January On February payment for the December invoice was received. The invoice for January was created by the owner on the th of February and is still outstanding at February Neither the invoice nor the payment from CTP has yet been accounted for in the relevant journals and ledgersTransaction The telephone, Fibre internet and mobile phone expense for the month of January has not yet been accounted for in the accounting records. A statement from the service provider, Star Mobile, indicated the expense for the January calendar month. This transaction has never been accounted for but has been paid via a direct debit order on February The Star Mobile service is a recurringservice every month. The service fee for the landline and mobile phone services are expected to be based on useage of minutes and minutes respectively for February useage. The February invoice has not yet been received by Zodeq. The direct debit order for February service is scheduled for March Transaction A payment of R was made to Gooble Inc. on February This payment related to Gooble adverts for Zodeq and direct online marketing performed by Gooble Inc. Zodeq receives a cash discount as per the agreement between Goobleand Zodeq. The amount paid was after deducting the discount. The amount reflects on the bank statement. No accounting entries has yet been made for this transaction. No invoice was received from Gooble Inc. for this transaction. Transaction Zodeq completed the design service of another application for Mr Benjamin Gaits on February On the same date an invoice was raised to Mr Benjamin Gaits for R This transaction has not yet been recorded.Transaction During January Zodeq performed maintenance and helpdesk services to one of their standing clients, Counterpart Technologies PLC CTP As part of the service level agreement between Zodeqand CTP services are performed and invoiced monthly. The terms of the agreement states that the invoice for the previous months services are raised before the th of the following month and the fee remains fixed until June The invoice for December amounting to R was raised on the th of January andwas unpaid at January On February payment for the December invoice was received. The invoice for January was created by the owner on the th of February and is still outstanding at February Neither the invoice nor the payment from CTP has yet been accounted for in the relevant journals and ledgersTransaction The telephone, Fibre internet and mobile phone expense for the month of January has not yet been accounted for in the accounting records. A statement from the service provider, Star Mobile, indicated the expense for the January calendar month. This transaction has never been accounted for but has been paid via a direct debit order on February The Star Mobile service is a recurringservice every month. The service fee for the landline and mobile phone services are expected to be based on useage of minutes and minutes respectively for February useage. The February invoice has not yet been received by Zodeq. The direct debit order for February service is scheduled for March Transaction A payment of R was made to Gooble Inc. on February This payment related to Gooble adverts for Zodeq and direct online marketing performed by Gooble Inc. Zodeq receives a cash discount as per the agreement between Goobleand Zodeq. The amount paid was after deducting the discount. The amount reflects on the bank statement. No accounting entries has yet been made for this transaction. No invoice was received from Gooble Inc. for this transaction. Transaction Zodeq completed the design service of another application for Mr Benjamin Gaits on February On the same date an invoice was raised to Mr Benjamin Gaits for R This transaction has not yet been recorded.
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Managerial Accounting
Authors: John J. Wild, Ken W. Shaw
2010 Edition
9789813155497, 73379581, 9813155493, 978-0073379586
