Hyorid Soutions have many debtors and therefore keep records of transactions with Indvidual deotors in a Debtons Subsidary ledger (DL) while the general ledger houses the Debtors Controi account Totai of the list of debtors is reconailed at least once a month wth the balance of the Deotors Controi Account. The following is the summarised list of dectors at 31 August 2021 before any adustments were made for emors and omissions Debtors lnt- Baanoes before corections for emors DL Balance Amount -R 15 070 19 240 and omissions Follo Andy Beauty Cindy AN Other Dectors DLI 13760 BL479 Total of the lat of debtors 142 950 All the totais from the subsidary joumais have been posted to the Dectons Control account and a deot balance ofR141 500 at 31 August 20212s shown below. Errora and omisalons at to be taken Into account for the reconclation of the lat of debtora and the Debtors Control account at 31 August 2021: 1. Sales of R3 680 to Cindy were incorectiy recorded in the sales joumal as a sale to Andy and posted as such. 2. Areceipt of RS 000 from Beauty was incomecty recorded as R4 000 in the cash receipts journal and posted to Beautys account. 1. Cindy was granted an allowanoe of RADO for goods sent to her that were silighty damaged. The alowance was incorecty recorded in the Sales joumal whereas tshould have been recorded in the sales retums and alowances joumal.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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5. Dettor Brad Pot's account of R1 700 Is Included with AN Other debtors R94 880.
Attomeys have conftrmed that Brad has been declared Insolvent. The balance of his
account of R1 700 must be witten-off as Ircoverable. The credit loss has already been
recorded in the Debtors control account
Required :
Take the erors and omisslons Into account and reconcle the list of debtors to the adjusted
balance of the Debtors' Control account for the period ended 31 August 2021. Present your
solutions as folows:
2.1
Debtors Control account:
Dr
Debtors" Control Account
Cr
2021
R
2021
R
31.8 Balance bid
141 500
31.8
22 List of debtors:
DL
Given
Adjusted
Debtors" Ilst
Andy
Adjustments
Follo
Balance-R
15 070
Balance -R
DL1
Beauty
DL2
19 240
Cindy
13 760
DL3
AN Other
DL 4
94 880
Debtors
to 79
Total of the llat
142 950
of debtors
Transcribed Image Text:5. Dettor Brad Pot's account of R1 700 Is Included with AN Other debtors R94 880. Attomeys have conftrmed that Brad has been declared Insolvent. The balance of his account of R1 700 must be witten-off as Ircoverable. The credit loss has already been recorded in the Debtors control account Required : Take the erors and omisslons Into account and reconcle the list of debtors to the adjusted balance of the Debtors' Control account for the period ended 31 August 2021. Present your solutions as folows: 2.1 Debtors Control account: Dr Debtors" Control Account Cr 2021 R 2021 R 31.8 Balance bid 141 500 31.8 22 List of debtors: DL Given Adjusted Debtors" Ilst Andy Adjustments Follo Balance-R 15 070 Balance -R DL1 Beauty DL2 19 240 Cindy 13 760 DL3 AN Other DL 4 94 880 Debtors to 79 Total of the llat 142 950 of debtors
Hybrid Solutions have many debtors and therefore keep records of transactions with
Indvidual debtors In a Debtors Subsidiary ledger (DL) while the general ledger houses the
Debtors Control account. Total of the list of debtors is reconciled at least once a month with
the balance of the Debtor's Control Account.
The following is the summarised list of deotors at 31 August 2021 before any adjustments
were made for erors and omissions:
Debtors' lst - Balances before corections for errors
and omissions
DL
Balance
Amount -R
Follo
Andy
DL1
15 070
Beauty
DL2
19 240
Cindy
DL3
13 760
AN Other Debtors
DL 4 to 79
94 880
Total of the llst of debtors
142 950
All the totals from the subsidary joumals have been posted to the Deotors' Control account
and a debit balance of R141 500 at 31 August 2021as shown below.
Errors and omisslons stil to be taken Into account for the reconcillation of the llat of
debtors and the Debtors'Control account at 31 August 2021:
1. Sales of R3 680 to Cindy were Incorrectly recorded In the sales Joumal as a sale to Andy
and posted as such.
2. A recelpt of R5 000 from Beauty was Incorrectiy recorded as R4 000 In the cash recelpts
Journal and posted to Beauty's account.
3. Cindy was granted an allowance of RADO0 for goods sent to her that were slighty
damaged. The allowance was Incorrecty recorded in the Sales Joumal whereas it should
have been recorded in the sales returns and allowances journal.
4. Interest of R250 must be charged to the overdue part of Andy's account. The Interest
has already been recorded in the Debtors' control account.
Transcribed Image Text:Hybrid Solutions have many debtors and therefore keep records of transactions with Indvidual debtors In a Debtors Subsidiary ledger (DL) while the general ledger houses the Debtors Control account. Total of the list of debtors is reconciled at least once a month with the balance of the Debtor's Control Account. The following is the summarised list of deotors at 31 August 2021 before any adjustments were made for erors and omissions: Debtors' lst - Balances before corections for errors and omissions DL Balance Amount -R Follo Andy DL1 15 070 Beauty DL2 19 240 Cindy DL3 13 760 AN Other Debtors DL 4 to 79 94 880 Total of the llst of debtors 142 950 All the totals from the subsidary joumals have been posted to the Deotors' Control account and a debit balance of R141 500 at 31 August 2021as shown below. Errors and omisslons stil to be taken Into account for the reconcillation of the llat of debtors and the Debtors'Control account at 31 August 2021: 1. Sales of R3 680 to Cindy were Incorrectly recorded In the sales Joumal as a sale to Andy and posted as such. 2. A recelpt of R5 000 from Beauty was Incorrectiy recorded as R4 000 In the cash recelpts Journal and posted to Beauty's account. 3. Cindy was granted an allowance of RADO0 for goods sent to her that were slighty damaged. The allowance was Incorrecty recorded in the Sales Joumal whereas it should have been recorded in the sales returns and allowances journal. 4. Interest of R250 must be charged to the overdue part of Andy's account. The Interest has already been recorded in the Debtors' control account.
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