Required:

Use the information given above ( which are not questions) to complete the tables following for January 2020

Q.1.1

Record any differences identified in the bank reconciliation process in a supplementary cashbook receipts and payments with columns for details and amount. Begin with the totals before any amendments.

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) 405 670 Balance per bank statement (favourable) 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 Balance per Bank account( favourable) 2 500 367 840 Cheque counterfoils of Underwood Traders- January 2020 Date Cheque Counterfoil no. Amount (R) 3 CQ306 6540 12 CQ307 2 410 16 CQ308 12 500 17 CQ309 23 560 20 CQ310 1470 21 CQ311 3 260 22 CQ312 15 320 23 CQ313 27 650 26 CQ314 8 950 29 CQ315 2 250 103 910 20 2020 Debtors allowances journal of Dumbledore Magic World-May 2019 Doc Date Details Fol. Debtors Input VAT Sales No. Control Returns CN145 4 H. Granger D2 10 750.65 1 402.26 9 348.39 CN146 14 H. Potter D1 3 670.67 478.78 3 191.89 CN147 25 R. Weasley D3 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 CRR5685 J.Jonas 8 430.55 1 099.64 7 330.91 Service Fee DR236 15 H.Potter D1 5 000.00 5 000.00 CRR569 17 Cash 16 320.78 2 128.80 14 191.98 DR237 20 D. Malfoy D5 29 574.09 29 574.09 DR238 29 H.Potter D1 41 106.95 41 106.95 154 753.35 75 681.04 10 313.79 61 427.617 330.91 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 D5 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 Debtors Control D4 54 620.77 (L. Voldemort) (Amount written off as irrecoverable) Debtors Control H. Granger) JV57 31 D2 3 455.98 Interest Received 3 455.98 (Interest on overdue account at 10% per annum) 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 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 Question 1 (Marks:20) Q.1.1 (3) Details Amount(R) (4x) Subsidiary Cashbook Receipts 20 2020 Subsidiary Cashbook Payments Amount(R) Details 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) 405 670 Balance per bank statement (favourable) 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 Balance per Bank account( favourable) 2 500 367 840 Cheque counterfoils of Underwood Traders- January 2020 Date Cheque Counterfoil no. Amount (R) 3 CQ306 6540 12 CQ307 2 410 16 CQ308 12 500 17 CQ309 23 560 20 CQ310 1470 21 CQ311 3 260 22 CQ312 15 320 23 CQ313 27 650 26 CQ314 8 950 29 CQ315 2 250 103 910 20 2020 Debtors allowances journal of Dumbledore Magic World-May 2019 Doc Date Details Fol. Debtors Input VAT Sales No. Control Returns CN145 4 H. Granger D2 10 750.65 1 402.26 9 348.39 CN146 14 H. Potter D1 3 670.67 478.78 3 191.89 CN147 25 R. Weasley D3 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 CRR5685 J.Jonas 8 430.55 1 099.64 7 330.91 Service Fee DR236 15 H.Potter D1 5 000.00 5 000.00 CRR569 17 Cash 16 320.78 2 128.80 14 191.98 DR237 20 D. Malfoy D5 29 574.09 29 574.09 DR238 29 H.Potter D1 41 106.95 41 106.95 154 753.35 75 681.04 10 313.79 61 427.617 330.91 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 D5 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 Debtors Control D4 54 620.77 (L. Voldemort) (Amount written off as irrecoverable) Debtors Control H. Granger) JV57 31 D2 3 455.98 Interest Received 3 455.98 (Interest on overdue account at 10% per annum) 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 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 Question 1 (Marks:20) Q.1.1 (3) Details Amount(R) (4x) Subsidiary Cashbook Receipts 20 2020 Subsidiary Cashbook Payments Amount(R) Details