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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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