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Mgt101-2-solution-fall2012

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Mgt101-2-solution-fall2012

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DEBTOR CONTROL ACCOUNT



DATE          PARTICULARS     AMOUNT       DATE   PARTICULARS    AMOUNT
              OPENING         94500               CASH           93570
              DEBTORS                             RECEIVED
              CREDIT SALES    108260              BAD DEBTS      1560
                                                  WRITTEN OFF
              CASH            2000                DISCOUNT       1430
              REFUNDED                            ALLOWED
              DISHONOURED     10000               BALANCE C/F    119100
              CHEQUES
              TOTAL           215660              TOTAL          215660
QUESTION NO#2



                   HYPOTHETICAL COMPANY LIMINTED
                BANK RECONCILIATION STATEMENT

                AS ON MARCH 2012




PARTICULARS                                        AMOUNT       TOTAL

                                                    Rs.
Debit balance as per cash book                 20,000   20,000

Add:

Unrecorded cheque                  2000

Outgoing cheque                    600         2600     2600

Less:

Payment side under cats                200

Debit balance wrongly entered

at credit side                     1500        1700     (2736)

Cash discount recorded over cast   (115-151)   36       20900

Cheque received but not sent to bank           1,000

Balance as per bank statement                           19864
Correct Solution of Q#1 this is the final sollution of q1
                            Debtors control account

 Date       Particulars       Amount     Date         Particulars     Amount

1st     Opening debtors      95,400              Cash received       93,570

        Credit sales         108,260             Bad debts written   1,560
                                                 off

        Dishonored cheque    10,000              Discount allowed    1,430

        Cash refund          2,000               Balance c/f         119,100



               Total         215,660                    Total        215,660
DEBTOR CONTROL ACCOUNT

DATE             PARTICULARS    AMOUNT           DATE   PARTICULARS AMOUNT

                 OPENING        94500                   CASH         93570
                 DEBTORS                                RECEIVED

                 CREDIT SALES   108260                  BAD DEBTS    1560
                                                        WRITTEN
                                                        OFF

                 CASH           2000                    DISCOUNT     1430
                 REFUNDED                               ALLOWED

                 DISHONOURED 10000                      BALANCE C/F 119100
                 CHEQUES

                 TOTAL          215660                  TOTAL        215660

QUESTION NO#2

                    HYPOTHETICAL COMPANY LIMINTED
                        BANK RECONCILIATION STATEMENT
                        AS ON MARCH 2012



PARTICULARS                                             AMOUNT      TOTAL
                                                             Rs.

Debit balance as per cash book                          20,000      20,000
Add:
Unrecorded cheque                         2000
Outgoing cheque                             600         2600        2600
Less:
Payment side under cats                     200
Debit balance wrongly entered
at credit side                               1500       1700        (2736)
Cash discount recorded over cast         (115-151)      36          20900
Cheque received but not sent to bank                    1,000
Balance as per bank statement                                       19864

								
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