Q.2.2 You have been provided with the following summary of cashbook receipts and cashbook payments for...
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Q.2.2 You have been provided with the following summary of cashbook receipts and cashbook payments for December 2022 before any adjustments have been made: SUMMARY OF CASH BOOK RECEIPTS FOR DECEMBER 2022 Day Details Dec 3 Dec 9 Dec 12 Dec 17 Dec 31 Cash Azara Stores Cash Pieces Traders Mr Zodiac Amount (R) 3 000 3 000 1850 1000 1300 SUMMARY OF CASH BOOK PAYMENTS FOR DECEMBER 2022 Day Details Dec 3 Dec 5 Dec 9 Dec 16 Dec 31 Jhb City Council (EFT) Cash Mr Scorpio (EFT) Cash Miss Hermes (EFT) BANK STATEMENT FOR THE MONTH OF DECEMBER 2022 DATE DETAILS Dec 1 Balance (favourable balance) Cash EFT Jhb City Council Dec 3 Dec 5 Dec 5 Dec 10 Dec 11 Dec 14 Dec 19 Dec 29 Dec 30 Dec 30 In addition you have received the following bank statement at 31 December 2022: Cash Azara Stores EFT Mr Scorpio Cash Cash EFT Mr Apollo Bank charges Debit order WITHDRAWALS DEPOSITS 1500 1400 1750 1300 Amount (R) 1500 4 100 500 4 000 300 3 000 1850 1750 8 500 1300 2 100 BALANCE 3 700 4 000 2 500 1 100 4 100 2 350 4 200 2 900 11 400 10 900 6 900 Additional Information • The cash deposit made on the 3rd of December was correctly recorded in the cash book • The cash payment made on the 5th of December was correctly recorded by the bank • Opening favourable balance of Bank Account at 1 December 2022: R3 700 Required: Q.2.2.1 From the information provided above calculate the corrected cashbook receipts and cashbook payments totals after taking into account all the adjustments required. Show all your workings. Q.2.2.2 Using the amounts obtained in Q.2.2.1 above post to the bank account in the general ledger. Balance the Bank general ledger account. Q.2.2.3 Prepare a bank reconciliation statement as at 31 December 2022. (10) (6) (12)
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Q 2 2 1 To calculate the corrected cashbook receipts and cashbook payments totals we need to consider the adjustments required based on the additional ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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