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Accounting Equation Assignment

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Added on  2019-11-25

Accounting Equation Assignment

   Added on 2019-11-25

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ContentsSolution -1....................................................................................................................................................2Solution-2.....................................................................................................................................................32.1ACCOUNTING EQUATION:............................................................................................................32.2 REDRAFTING THE DEBTOR CONTROL ACCOUNT...............................................................................4Solution-3.....................................................................................................................................................63.1PREPARATION OF BANK ACCOUNT..............................................................................................63.2 VAT INPUT / VAT OUTPUT LEDGERS............................................................................................9Solution - 4.................................................................................................................................................114.1PREPARATION OF CURRENT A/C – BLUE AND APPROPRIATION A/C..........................................114.2EQUITY SECTION OF THE STATEMENT OF FINANCIAL POSITION................................................14Solution-5...................................................................................................................................................15
Accounting Equation Assignment_1
Solution -11.1B1.2D1.3C1.4A1.5A
Accounting Equation Assignment_2
Solution-22.1ACCOUNTING EQUATION: Transaction No. ASSET = LIABILITIES + EQUITY Bank Debtors Stationery Loan Drawings Bad debt Interest on fixed deposit 2.1.1500(500)=-+---2.1.2--(50)=-+(50)--2.1.3-(400)-=-+-(400)-2.1.4100--=-+--1002.1.5(2,000)--=(2,000)+---Total(1,400)(900)(50)(2,000)(50)(400)100
Accounting Equation Assignment_3
2.2 REDRAFTING THE DEBTOR CONTROL ACCOUNT DEBTOR CONTROL ACCOUNT Date Particulars Amount Date Particulars Amount01-May-16 Balance b/d b/d 100,000 31-May-16 Bad debts J 1,000 31-May-16 Bank CPJ 2,000 31-May-16 Bank and Discount CRJ 90,000 31-May-16 Interest income J 200 31-May-16 Sales returns SRJ 3,800 31-May-16 Sales SJ 80,000 31-May-16R. Smith's Balance trnsfd @ 1,000 31-May-16 Undercasted Sales* SJ 2,000 31-May-16 Bad debts @# 1,200 31-May-16 Error rectified ** 1,000 31-May-16Error in credit note amount *** 450 31-May-16 Balance c/d 91,674 31-May-16 Cheque dishonoured # 3,000 31-May-16 Interest income ## 24 188,674 188,674 *Sales undercasted by R2000 rectified **Invoice issued to debtor erroneously enetered in SRJ, rectified *** Error in amount recording, recorded as R940 instead of R490 #Cheque returned by bank due to insufficient funds recorded ##Two months interest income recorded
Accounting Equation Assignment_4

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