Variety General Dealers have a creditors' subsidiary ledger with a creditors control account in the general...
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Variety General Dealers have a creditors' subsidiary ledger with a creditors control account in the general ledger. On 31 October 2019, the creditors control account showed a preliminary balance, before taking any of the additional information into account, as fallows: 31 October 2019 Creditors control account preliminary baiance R8 841 On 31 October 2019. the creditors' ledger of Variety General Dealers showed the following list of creditors: List of creditors as at 31 October 2019 A Font Balance - R 1 880 C Bolt 2616 D Col 2 060 E Dots 2118 Preliminary total 8 674 Additional information: After a thorough investigation of the source documents, journals and individual accounts, the following errors and/or omissions were detected 1. A payment of R50 issued to C Bolt as payment of account, was erroneously debited to the repairs and maintenance account. 2. A Font's account was incorrectly shown on the ist as R1 880. The correct amount is R1 890. 3. The creditors' column in the Purchases journal showed a total of R5 554. The amount was posted to the creditors' control as R5 455. 4. A credit note from C Bolt for R34 was entered in the purchases journal but not posted to C Bolt's account in the creditors' ledger. 5. E Dots' account was credited with a credit note of R100 received from C Bolt on 28 October 2019. 6. An invoice for R600 from D Coll for repairs to equipment was recorded in the general journal as R60 and posted to D Coil's account as R60. The correct amount was posted to the creditors control account Required: 1. Use the information above and prepare the creditors control account at 31 October 2019 showing all entries regarding the corrections necessary to undertake a reconciliation. (7) 2. Prepare a creditors' reconciliation statement as at 31 October 2019. Use the following format for the reconciliation: (3) Balance Adjusted Name of creditor Given - R 1 880 Adjustments Balance - R A Font ??? ??? C Bolt 2616 ??? ??? D Col 3 060 ??? ??? E Dot 1 118 ??? ??? Total - given 8 674 Total - adjusted ??? Variety General Dealers have a creditors' subsidiary ledger with a creditors control account in the general ledger. On 31 October 2019, the creditors control account showed a preliminary balance, before taking any of the additional information into account, as fallows: 31 October 2019 Creditors control account preliminary baiance R8 841 On 31 October 2019. the creditors' ledger of Variety General Dealers showed the following list of creditors: List of creditors as at 31 October 2019 A Font Balance - R 1 880 C Bolt 2616 D Col 2 060 E Dots 2118 Preliminary total 8 674 Additional information: After a thorough investigation of the source documents, journals and individual accounts, the following errors and/or omissions were detected 1. A payment of R50 issued to C Bolt as payment of account, was erroneously debited to the repairs and maintenance account. 2. A Font's account was incorrectly shown on the ist as R1 880. The correct amount is R1 890. 3. The creditors' column in the Purchases journal showed a total of R5 554. The amount was posted to the creditors' control as R5 455. 4. A credit note from C Bolt for R34 was entered in the purchases journal but not posted to C Bolt's account in the creditors' ledger. 5. E Dots' account was credited with a credit note of R100 received from C Bolt on 28 October 2019. 6. An invoice for R600 from D Coll for repairs to equipment was recorded in the general journal as R60 and posted to D Coil's account as R60. The correct amount was posted to the creditors control account Required: 1. Use the information above and prepare the creditors control account at 31 October 2019 showing all entries regarding the corrections necessary to undertake a reconciliation. (7) 2. Prepare a creditors' reconciliation statement as at 31 October 2019. Use the following format for the reconciliation: (3) Balance Adjusted Name of creditor Given - R 1 880 Adjustments Balance - R A Font ??? ??? C Bolt 2616 ??? ??? D Col 3 060 ??? ??? E Dot 1 118 ??? ??? Total - given 8 674 Total - adjusted ???
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Answer Creditors control Account A font Ac D Coil Ac Particula... View the full answer
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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