Single Entry 287 2. The following are the details as on Ist January, 1998 regarding the affairs of a retail trader who did not mainitain the accounts on the double entry system : Rs. Cash in hand Cash at bank Stock Debtors Creditors 300 5,500 5,600 3,457 4,057 200 Furniture His position at the end of the year was as follows: Rs. Cash in hand Cash at bank Stock Debtors Furniture Creditors 380 2.400 4,680 4,620 250 3,000 During the year, he withdrew Rs. 6,500 out of which he purchased a motor van for Rs. 5,600. Prepare a Statement on 31st December, 1998 showing his trade result. Provide depreciation on Furniture and Motor: Van e 10% on initial cost and write off Rs. 120 as bad debts. A provision for bad debts is to be made 5% (B.Com, M.K.U. (Ans: Profit Rs. 3,900

Required information Skip to question   [The following information applies to the questions displayed below.]The August bank statement and cash T-account for Martha Company follow:   BANK STATEMENT Date Checks Deposits Other Balance August 1         $ 13,600 August 2 $ 120       13,480 August 3   $ 9,300     22,780 August 4 220       22,560 August 5 160       22,400 August 9 530       21,870 August 10 130       21,740 August 15   3,100     24,840 August 21 220       24,620 August 24 15,500       9,120 August 25   5,650     14,770 August 30 620       14,150 August 30     Interest earned $ 20 14,170 August 31     Service charge 10 14,160   Cash (A) Debit Credit August 1 Balance 13,600     Deposits   Checks written   August 2 9,300 120 August 1 August 12 3,100 220 August 2 August 24 5,650 160 August 3 August 31 4,100 130 August 4     530 August 5     200 August 15     280 August 17     620 August 18     220 August 19…

3. The April 30 bank statement of 10A Company showed a balance of $$24,635 and the following memoranda: Credits Collection of $1,250 note plus interest $50 Interest earned on checking account $65 Debits $75 NSF check: Banana Wang $635 Safety deposit box rent: 10A Company's cash account in the general ledger had a balance of $26,100 on April 30 and other information is as follows: (1) Cash receipts for April 30 recorded on the company's books were $6,695 but this amount does not appear on the bank statement. (2) The total amount of checks still outstanding at April 30 amounted to $6,575, including $2,000 certified checks. (3) Check No. 119 payable to 10B Company was recorded in the cash payments journal and cleared the bank for $248 but the payment should be $284. Instructions (a) (b) Prepare the bank reconciliation at April 30. Prepare any adjusting entries necessary as a result of the bank reconciliation. (Hint: Record Safety deposit box rent as Miscellaneous (Misc.) Expense)

A) $ 2,667 10) Counte Company's cash balance at the end of the month was $ 5,500. After comparing the company's records with the monthly bank statement, Counte's accountant identified the following reconciling items: outstanding checks, $ 900; deposits in transit, $ 600; bank service charge, $ 20; NSF check, $ 200. What is the adjusted bank balance? A) $5,280 B) $ 5,580 C) $4,980 D) The adjusted bank balance cannot be determined.