As part of your role at Phantom Realty you are working two days a week with the
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Question:
As part of your role at Phantom Realty you are working two days a week with the Office Manager working on trust accounting tasks.
In this part of the assessment you will
Process deposits
Process payments, fees and charges
Balance and reconcile the trust accounts
The office manager asks you to receipt the payments received (assume the date is 6th April 2023):
Funds Received
Date | Property | Detail | Name | Amount |
2/4/2023 | 2 Enchanted Street, Fantasty Glen Qld 4000 | Marketing funds received via direct deposit | Patty & Selma Bouvier | $1500 |
6/4/2023 | 9 Magical Mews, Fantasty Glen Qld 4000 (Lessor H & M Sampson) | Rent received via eft 9/4/23 to 15/4/23 | Michael & Amanda Poppins | $480 |
6/4/2023 | 2 Enchanted Street, Fantasty Glen Qld 4000 (Seller P & S Bouvier) | Bank cheque (CBA #1234) received for deposit on Property | Vernon Twin | $5000 |
Payments Made
Date | Property | Detail | Name | Amount |
4/4/2023 | 04 Hayden St, Fantasty Glen Qld 4000 (Lessor V.Twin) | Return of overpaid rent | Aurellia Augusta | $250 |
9/4/2023 | 9 Magical Mews, Fantasty Glen Qld 4000 (Lessor H & M Sampson) | Retic repairs | Ryan's Reticulation | $125 |
27/4/2023 | 2 Enchanted Street, Fantasty Glen Qld 4000 (Seller P & S Bouvier) | Settlement - transfer of deposit | Phantom Realty General Account | $5000 |
Please click here to download a blank trust account receipt to complete.
Please see my original attachments. I've got 2/3 trust receipts correct apparently the one thats wrong is the rent, here's my feedback - please fix it for me if possible.
Related Book For
Financial Management for Decision Makers
ISBN: 978-0138011604
2nd Canadian edition
Authors: Peter Atrill, Paul Hurley
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