Ronaldo and Movete plc is a company specialized in the manufacturing and sale of digital televisions....
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Ronaldo and Movete plc is a company specialized in the manufacturing and sale of digital televisions. The accounts for the year ended 30 September 20¹4 are in the course of preparation. The debtors' total account controlling sales in the Northern sector of the country has been prepared by an inexperience assistant as below: Rs Debtors at 1/10/20°3 (agreed with total list of balances extracted from the ledger) 94,202 Sales invoiced for the year 556,780 Discounts allowed Cash received Transfer to creditors' ledger Sales returns (VAT incl. fig.) Bad debts 5,840 Debtors at 30/09/20 *4 656.822 Your investigation, however, revealed the following: Note Points (a) to (e) relate to the control accounts only. Rs. 632.429 2,010 14.260 1,955 6,168 656.822 (a) Sales The following was a summary of the sales sheets for the year. Sales excluing VAT Value added tax Rs. 556,780 83.517 640.297 (b) Sales returns For the last month of the year, returns were Rs1,950 but there is a mistake in the addition of the total column of one sheet resulting in a total which is R$420 lower than the correct figure. Moreover, including in the total of Rs14.260 representing returns for the year, the figure of Rs1,950 was taken as Rs1,590. (c) Transfer The transfer of Rs2,010 to the creditors' ledger is in respect of cash received from a supplier for an overpayment to him. (d) Bad debts The figure of Rs1,955 as shown in the bad debts account is made up as follows. Bad debts written out of the debtors' ledger in 20*3/20¹4 Less debts recovered in respect of written off in 20 *1/20¹2 General bad debt provision against debts remaining on the ledger Rs 2,500 (2,045) 455 1,500 1,955 (e) Cash received The total of Rs632.429 includes the bad debt recovered, and also a cheque for Rs1,685 which was first received from a customer in September 20 3 and entered in the records in that month. In October 20 '3 it was dishonoured and debited on the bank statement. It was presented again and duly honoured. It therefore appeared on both sides of the cashbook in October 2013. Requirement Prepare an amended debtors' ledger control account relating to the Northern region area for the year ended 30 September 20¹4 showing the reconciliation of the debtors' figure with the total s list extracted from the ledger. Ronaldo and Movete plc is a company specialized in the manufacturing and sale of digital televisions. The accounts for the year ended 30 September 20¹4 are in the course of preparation. The debtors' total account controlling sales in the Northern sector of the country has been prepared by an inexperience assistant as below: Rs Debtors at 1/10/20°3 (agreed with total list of balances extracted from the ledger) 94,202 Sales invoiced for the year 556,780 Discounts allowed Cash received Transfer to creditors' ledger Sales returns (VAT incl. fig.) Bad debts 5,840 Debtors at 30/09/20 *4 656.822 Your investigation, however, revealed the following: Note Points (a) to (e) relate to the control accounts only. Rs. 632.429 2,010 14.260 1,955 6,168 656.822 (a) Sales The following was a summary of the sales sheets for the year. Sales excluing VAT Value added tax Rs. 556,780 83.517 640.297 (b) Sales returns For the last month of the year, returns were Rs1,950 but there is a mistake in the addition of the total column of one sheet resulting in a total which is R$420 lower than the correct figure. Moreover, including in the total of Rs14.260 representing returns for the year, the figure of Rs1,950 was taken as Rs1,590. (c) Transfer The transfer of Rs2,010 to the creditors' ledger is in respect of cash received from a supplier for an overpayment to him. (d) Bad debts The figure of Rs1,955 as shown in the bad debts account is made up as follows. Bad debts written out of the debtors' ledger in 20*3/20¹4 Less debts recovered in respect of written off in 20 *1/20¹2 General bad debt provision against debts remaining on the ledger Rs 2,500 (2,045) 455 1,500 1,955 (e) Cash received The total of Rs632.429 includes the bad debt recovered, and also a cheque for Rs1,685 which was first received from a customer in September 20 3 and entered in the records in that month. In October 20 '3 it was dishonoured and debited on the bank statement. It was presented again and duly honoured. It therefore appeared on both sides of the cashbook in October 2013. Requirement Prepare an amended debtors' ledger control account relating to the Northern region area for the year ended 30 September 20¹4 showing the reconciliation of the debtors' figure with the total s list extracted from the ledger.
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Amended debtors ledger control account for the year ended 300920 64 Northern region ... View the full answer
Related Book For
Systems Analysis and Design
ISBN: 978-1305494602
11th Edition
Authors: Scott Tilley, Harry J. Rosenblatt
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