1 The following details were extracted from Mjomba's Ledger accounts balances for the month of 31...

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1 The following details were extracted from Mjomba's Ledger accounts balances for the month of 31 May 2021. Capital Rates Motor vans Furniture Stock I May, 2021 Balance at bank Cash at hand Purchases Payables Receivables Sales Discount Allowed Discount Received (K) 304, 640 6,410 95,000 16,000 12,890 10,030 7,200 44, 164 65,855 39,950 58, 749 550 900 36,000 450 Wages Drawings Salaries Motor Expenses Buildings You are required to prepare the Trial Balance from the information above. 40,000 1,500 120, 000 1. List five reasons that leads to the difference in the balance of the cash book and the bank [5 Marks] statement. 3 The following Trial Balance was extracted from the Books of Natasha, a Sole trader, as 31st December 2020. Capital Furniture and Fittings Purchases Sales Stock 1 January 2020 Debtors Creditors Returns inwards Returns outwards Motor vehicle Carriage inwards Rent and rates Provision for bad debts 1 January 2020 Bad debts Discount allowed Discount received Wages and salaries Stationary Drawings (K) 140, 530 11,700 3 | Page 616, 200 842, 400 59, 800 68.900 50, 700 168, 480 123, 240 42,900 31, 200 21,580 1,560 6,370 69, 940 94, 120 71, 500 10, 400 23, 400 12, 350 37, 830 Cash Bank NOTE: Stocks on 31 December 2020 were valued at K83, 720 You are required to prepare Trading, Profit and Loss Account for the year ended 31 December 2020 [25 marks] 1 The following details were extracted from Mjomba's Ledger accounts balances for the month of 31 May 2021. Capital Rates Motor vans Furniture Stock I May, 2021 Balance at bank Cash at hand Purchases Payables Receivables Sales Discount Allowed Discount Received (K) 304, 640 6,410 95,000 16,000 12,890 10,030 7,200 44, 164 65,855 39,950 58, 749 550 900 36,000 450 Wages Drawings Salaries Motor Expenses Buildings You are required to prepare the Trial Balance from the information above. 40,000 1,500 120, 000 1. List five reasons that leads to the difference in the balance of the cash book and the bank [5 Marks] statement. 3 The following Trial Balance was extracted from the Books of Natasha, a Sole trader, as 31st December 2020. Capital Furniture and Fittings Purchases Sales Stock 1 January 2020 Debtors Creditors Returns inwards Returns outwards Motor vehicle Carriage inwards Rent and rates Provision for bad debts 1 January 2020 Bad debts Discount allowed Discount received Wages and salaries Stationary Drawings (K) 140, 530 11,700 3 | Page 616, 200 842, 400 59, 800 68.900 50, 700 168, 480 123, 240 42,900 31, 200 21,580 1,560 6,370 69, 940 94, 120 71, 500 10, 400 23, 400 12, 350 37, 830 Cash Bank NOTE: Stocks on 31 December 2020 were valued at K83, 720 You are required to prepare Trading, Profit and Loss Account for the year ended 31 December 2020 [25 marks]

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5 Reasons that leads to the difference in the balance of the cash book and the bank statement i The bank may show a deposit to its customers account that has not been recorded as such in the bank colu... View the full answer