Compile three column cashbook of Mr. Uzair from the following transactions: 2020 Oct 1 Mr. Uzair started business with cash OMR 4000 4 Deposited into Bank OMR 2000 8 Purchased goods on credit from Haya for OMR 1000 10 Sold goods to Kawthar on credit for OMR 600 12 Goods purchased by paying cheque OMR 400 15 Paid wages OMR 40 20 Withdrew from bank for personal use OMR 200 25 Received cash from Kawthar OMR 540, in full settlement of his account 26 Paid electricity OMR 20 28 Withdrew from Bank for business use OMR 2000 30 Paid to Haya by cheque OMR 900, in full settlement of her account

Compile three column cashbook of Mr. Uzair from the following transactions: 2020 Oct 1 Mr. Uzair started business with cash OMR 4000 4 Deposited into Bank OMR 2000 8 Purchased goods on credit from Haya for OMR 1000 10 Sold goods to Kawthar on credit for OMR 600 12 Goods purchased by paying cheque OMR 400 15 Paid wages OMR 40 20 Withdrew from bank for personal use OMR 200 25 Received cash from Kawthar OMR 540, in full settlement of his account 26 Paid electricity OMR 20 28 Withdrew from Bank for business use OMR 2000 30 Paid to Haya by cheque OMR 900, in full settlement of her account

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 3AP

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Record the following transactions: A. Started a petty cash fund in the amount of $300. B. Replenished petty cash fund using the following expenses: Auto $69, Office Expenses $77, Postage Expense $56, Miscellaneous Expenses $98. Cash on hand is $6. C. Increased petty cash by $60.
Mr. Khalid has a current account in a bank with a credit balance of RO 97,000. He has withdrawn cash of RO 1,000 through ATM machine and paid RO 24,400 to his creditor by cheque. After these transactions his current account balance will be: a. RO 71,600 b. RO 51,600 c. RO 71,400 d. RO 21,600
Date Particulars Jan 1, 2020 Abdul commenced his business with Cash = OMR 35000 2 He deposited into bank current account = OMR. 20000 He sold goods to Hakkim on credit = OMR 1000 He paid Said by Cheque = OMR 1980 and receive discount = OMR 20 for 4 5 the goods purchased on credit He receive cheque from Hakkim 6 OMR 970 and allow him discount OMR 30 7 He makes sales for cash = OMR. 2800 Hakkim cheque deposited in to the bank = OMR 970 11 He purchased a motor car by cheque = OMR 7500 12 He purchased goods by cash = OMR. 2500 13 He withdraws from bank for office use = OMR. 750 Commission received = OMR 100 |Purchased furniture by Cheque for OMR 450 16 18 20 Withdraw from bank for personal use OMR 600 27 Sold goods to Mr. Haji for OMR 400 28 Received cheque from Mr Haji for OMR 375 in full settlement and deposited in to bank 30 Motor car repair expenses OMR 120 Required: Prepare triple column cash book with Discount, Cash and Bank Column
Enter the following transactions in a three column cash book. 2009 Rs. January 1 Cash in hand 410Balance at bank 8,9202 Cash sales 4,5003 Paid into bank 4,0005 Purchased stationary 1008 Paid Mahesh by cheque 280Discount received 2012 Gave a cheque for cash purchases 1,50015 Drew for personal use 50020 Drew from bank 1,00021 Paid wages 80031 Bank charges as per pass book 10
2 The following shows Li's cash at bank account and bank statement for the month of May 2022. Date 2022 May 1 5 13 27 30 Jun 1 14 Trade payable- Best Flour (Cheque no: 72) 26 Sales revenue Trade receivable- Flora Catering Insurance (Cheque no: 73) Date 2022 May 1 8 Cash at bank account Balance b/d Trade payable- Veggies Co. (Cheque no: 71) Trade receivable- Star Mart Balance b/d Particulars Balance b/d Cheque no: 70 Cheque no: 71 Particulars Bank statement 10 12 Direct payment- Rent 17 Cheque no: 72 23 Cheque deposit 24 Direct deposit- Delight Foods 29 Cheque deposit 31 Rejected cheque Debit $ 800 3 800 1 200 Withdrawal $ 2 600 2 000 400 800 Additional information The business has recorded cheque number 72 wrongly in its books. Balance $ 680 Dr 2 600 1 920 Cr 1 120 Cr 1 400 2 520 Cr 1 280 Dr 2 480 Dr 6 000 3 520 Cr Credit $ Deposit $ 1 000 800 1 800 1 200 3 520 Cr Balance $ 320 Dr 680 Cr 1 920 Dr 3 920 Dr 4 320 Dr 3 520 Dr 1 720 Dr 520 Dr 1 320 Dr REQUIRED (a) Prepare the adjusted cash…
Received $4,000 in cash from credit clients on their accounts. Which account is ?debited Cash Supplies Equipment Accounts Receivable O
repure u Mr. Jimin received his August 2020 bank statement. The ending cash balance in his accounting books is P300,000 while the cash balance shown on the bank statement is P430,000. He determined the following reconciling items. a. Credit Memo (A/R) b. Debit Memo (A/P) c. Deposits in transit d. Outstanding Checks P190,000 30,000 50,000 20,000 JIMIN CO. Bank Reconciliation Statement August 31, 2020 Adjusting Entries
Instructions: Use the below bank account receipts and payments summary to create a statement of cash flows. Use the direct method and follow the format in your textbook, chapter 6. Transaction Description Date 1/1/20 Cash deposit to start business 1/1/20 Three month's rent 1/1/20 Cash register paid for 1/1/20 Store furniture paid for 1/31/20 Receipts for sales in January 2020 2/7/20 Widgets supplied in January paid for 2/25/20 Cash withdrawn for your own expenses 2/29/20 Receipts for sales in February 2020 3/15/20 Widgets supplied in February paid for 3/16/20 Store utility charges for Jan, Feb, Mar 2020 3/31/20 Receipts for sales March 2020 3/31/20 Balance in bank on March 31st 2020 Receipts 10,000 6,500 9,000 12,000 37,500 Payments 2,400 450 8,500 4,500 3,000 6,000 300 12,350 37,500
2019April RM 1 Received RM3,000 as the petty cash float.5 Cleaning expenses 4006 Postage stamps 4611 Paper clips 12516 Paid Brian Tse, a trade creditor. 35020 Envelopes 4023 Petrol 50027 Delivery van repairs 1,10029 Cleaning expenses 400 Required:Prepare a petty cash book with analysis columns for stationery, motor expenses, cleaningexpenses, sundry expenses and ledger account. The following are extracts from the cash book and the bank statement of F Perry for 31 December2020 CASH BOOK Dec 1 Balance b/d 3,419 Dec 8 B Young 4627 F lamb 101 15 F Gray 2122 G brock 44 28 T errant 20931 W terry 319 31 Balance c/d 343731 S Miller 246 4,129 4,129 CONFIDENTIAL PI100/OCT2021/DPI3733 4BANK STATEMENT Dr Cr BalanceRM RM RMDec 1 Balance b/d 3,4197 Cheque 101 3,52011 B Young 462 3,05820 F Gray 21 3,03722 Cheque 44 3,08131 Credit transfer: T Morris 93 3,17431 Bank charges 47 3,127 Required:i. Write the cash book up to date, and state the new balance as on 31 December 2020,.
Q.No.4 Mr. Ali compared his cash book with bank statement and found some discrepancies notably as follows: 1. Mr. Ali Paid in the bank through cheques amounting Rs. 80,000 on 20th June, some Cheques from these amounting to Rs. 15000 were collected on 03rd of July. 2. Cheques with the amount of Rs. 15600 were drawn on 25th June, a cheque from those for Rs. 5300 was presented on 5th July. 3. A cheque was omitted to be banked on 31* June but entered in cash book for Rs. 2100. 4. A cheque Rs. 1650 deposited into bank not recorded in cash book and collected on 29th June by the bank. 5. A discounted bill receivable for Rs. 2100 with the discounting amount of Rs. 40 was dishonored but advice was received on 4th July. 6. A bill for Rs. 30000 was retired by the bank under a rebate of Rs 840 but cash book was credited with full amount. 7. A cheque was reversed on 2d July due to the reason of wrongly credited of amount Rs. 4200. 8. The bank wrongly debited Rs. 8000 on 31* June and reversed it on…
2 The following shows Li's cash at bank account and bank statement for the month of May 2022. Date 2022 May 1 5 13 27 30 Jun 1 Balance b/d Trade payable- Veggies Co. (Cheque no: 71) Trade receivable- Star Mart Trade payable- Best Flour (Cheque no: 72) 26 Sales revenue 14 Trade receivable- Flora Catering Insurance (Cheque no: 73) Date 2022 May 1 8 Balance b/d Balance b/d Cheque no: 70 Cheque no: 71 Cash at bank account Particulars 3 Particulars Bank statement 10 12 Direct payment- Rent 17 Cheque no: 72 23 Cheque deposit 24 Direct deposit- Delight Foods 29 Cheque deposit 31 Rejected cheque Debit $ 800 3 800 1 200 Credit Balance $ $ 689 Dr 2 600 1 920 Cr 1 120 Cr 1 400 2 520 Cr 1 280 Dr 2 480 Dr 6 000 3 520 Cr X™ Withdrawal Deposit $ $ 2 600 2 000 400 800 Additional information The business has recorded cheque number 72 wrongly in its books. 1 000 3 520 Cr 680-320 =360 1 800 1 200 Balance $ 320 Dr 680 Cr 1 920 Dr 3 920 Dr 4 320 Dr 8003 520 Dr 1 720 Dr 520 Dr 1 320 Dr REQUIRED (a) Prepare…
Jessie has a cash account per general ledger that shows a balance of $78,659 atOctober 31, 2021. Bank statement from Ocean Paradise Bank on that dateshows the following date shows the following balance. 31 October Amount $88,080 Comparison of checking account details with cash account details reveals factsas follows.1. A note receivable of $13,070 was invoiced by the bank for Jessie on the 14thOctober plus $713 interest and the bank has charged $137 on the billing. No interest has been recognized on these notes.2. Check No. 175 the amount of $5,741 was entered in the cash journal as $5,471and Check No. 189 of $2,040 was entered in the cash journal as$2,400. Both checks have been issued to pay for the purchase of supplies.3. The bank has charged Jessie account. for customer unbilled checks amounting to $789 on October 23. 4. Deposit in progress is $7,388 and outstanding check no. 123 on October 28totaling $5,309.5. There was a canceled check issued by Kenny to Leo for $2,079 that was…