Qualification > Commerce
Accounting 0452 help HERE only!
Monica:
7ood calm down... listen the second one is an overdraft, that is why we put it in brackets(negative)...thats all when it is an overdraft just follow the same steps but only keep it in negative. :)
7ooD:
yes i kno it was an overdraft but the 2006 one was a normal balance and he did the same!!!
Monica:
tell me the question numbers please....
7ooD:
ok here is the full questions so that u dnt look for them
2003 may june
3 (a) On 31 January 2003 Mary, a trader, obtained a statement from her bank and
compared it with the bank account in her cash book.
The bank balance shown in the cash book was an overdraft of $1780. This differed from
the balance shown on the bank statement because–
1. a cheque for $270 payable to David had not yet been presented for payment
2. cash paid into the bank amounting to $800 had not yet been credited to Mary’s
account.
Prepare a bank reconciliation statement to show the balance which appeared on the
bank statement on 31 January 2003.
2006 may june
part one
1 Tarek Wahid is a sole trader who keeps full double entry records including a three column Use
cash book.
On 1 April 2006 his cash book showed the following debit balances:
Cash
Bank
$
125
6750
Tarek’s transactions for the month of April 2006 included the following:
April 5 Cheque for $230, received from Asmaa El Zein in March, was dishonoured by
the bank.
10 Received a cheque from Mohammed Riyas in settlement of his account of
$480, after deducting cash discount of 2 ½ %.
16 Paid cheques totalling $9980 for a new motor vehicle costing $9900, and
repairs to existing motor vehicle costing $80.
24 Paid Salma Abbas a cheque for $546 to settle the amount due, after deducting
cash discount of $14.
29 Cash sales amounted to $2150.
30 Paid all the cash into the bank except $100.
REQUIRED
(a) Enter the above transactions in Tarek Wahid’s cash book on the page opposite.
Balance the cash book at 30 April and bring down the balances on 1 May 2006.
part two
On 30 April 2006 Tarek Wahid obtained a statement from his bank and compared it with Use
the bank column in his cash book.
The bank balance shown in the cash book differed from that shown on the bank
statement because:
1 the cheque paid to Salma Abbas had not yet been presented for payment;
2 the cash paid into the bank had not yet been credited to Tarek’s account.
at the end of the cash book the balance which appeared in the bank as debit balance c\d 1363
Monica:
here!! u said it
at the end of the cash book the balance which appeared in the bank as debit balance c\d 1363
it is c/d SO when u bring it down b/d it will be on the credit side....
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