following transactions for 2021 from the books of the business. This company operates one bank account to reflect all cash and cheque transactions. You are now required to read these transactions carefully then prepare the relevant documents and books as outlined in the requirements below. 1 Aug Started business with $150, 000 in the bank Bought supplies on credit from Right Way Manufacturers 24 Boxes Air Filter 96 Bottles fuel injector cleaner 48 Boxes Spark Plug 36 Boxes Brake Shoe 24 Boxes Disc Pads 3 Aug $720.00 per box $200.00 per bottle $300.00 per box $580.00 per box $400.00 per box Provided services for cash less 10% discount 12 small motorbike engines 6 large motorbike engines (full service) 8 medium size motorbike engines (full service) 5 Aug $350.00 per engine $950.00 per engine $800.00 per engine $5,000.00 7 Aug Paid Rent by cheque $8,000 00 10 Aug Paid Wages by cheque $3,500.00 Bought Fixtures from CT Limited paying by cash 10 Aug Provided services on credit to Auto Care. 24 small motorbike engines 8 large motor bike engines (partial service) 12 medium size motorbike engine (partial service) Bought Fixtures on credit from CT Ltd $350.00 per engine $650.00 per engine $550.00 per engine 11 Aug 12 Aug $8,000.00 13 Aug Received a loan from NBC cash $25,000.00 14 Aug Provided services on credit to P&S Auto 18 Large motorbike engines (full service) 12 medium size motor bike engines 24 medium size motorbike engines 20 small motorbike engines $950.00 per engine $650.00 per engine $550.00 per engine $350.00 per engine 21 Aug Paid CT Ltd by cheque $8,000.00 22 Aug Paid wages cash $8,000.00 23 Aug Paid Right Way Manufacturer the amount owing to them by cheque, they allowed us a 15% discount 27 Aug P&S Auto paid the amount owing by them in Cash less 10 % discount 27 Aug Electricity paid by cash $1,500.00 28 Aug The owner took $5000 out of the bank for his personal use. Provided services for cash 12 small motorbike engines 6 medium size motorbike engines 4 medium size motor bike engines 28 Aug $350.00 per engine $550.00 per engine $800.00 per engine Bought supplies on credit from big J Manufacturers 4 Bottles Fuel Injector Cleaner 9 Boxes Air Filters 8 Boxes Snarks Plugs 29 Aug $200.00 per bottle $720.00 per box $300.00 por box
following transactions for 2021 from the books of the business. This company operates one bank account to reflect all cash and cheque transactions. You are now required to read these transactions carefully then prepare the relevant documents and books as outlined in the requirements below. 1 Aug Started business with $150, 000 in the bank Bought supplies on credit from Right Way Manufacturers 24 Boxes Air Filter 96 Bottles fuel injector cleaner 48 Boxes Spark Plug 36 Boxes Brake Shoe 24 Boxes Disc Pads 3 Aug $720.00 per box $200.00 per bottle $300.00 per box $580.00 per box $400.00 per box Provided services for cash less 10% discount 12 small motorbike engines 6 large motorbike engines (full service) 8 medium size motorbike engines (full service) 5 Aug $350.00 per engine $950.00 per engine $800.00 per engine $5,000.00 7 Aug Paid Rent by cheque $8,000 00 10 Aug Paid Wages by cheque $3,500.00 Bought Fixtures from CT Limited paying by cash 10 Aug Provided services on credit to Auto Care. 24 small motorbike engines 8 large motor bike engines (partial service) 12 medium size motorbike engine (partial service) Bought Fixtures on credit from CT Ltd $350.00 per engine $650.00 per engine $550.00 per engine 11 Aug 12 Aug $8,000.00 13 Aug Received a loan from NBC cash $25,000.00 14 Aug Provided services on credit to P&S Auto 18 Large motorbike engines (full service) 12 medium size motor bike engines 24 medium size motorbike engines 20 small motorbike engines $950.00 per engine $650.00 per engine $550.00 per engine $350.00 per engine 21 Aug Paid CT Ltd by cheque $8,000.00 22 Aug Paid wages cash $8,000.00 23 Aug Paid Right Way Manufacturer the amount owing to them by cheque, they allowed us a 15% discount 27 Aug P&S Auto paid the amount owing by them in Cash less 10 % discount 27 Aug Electricity paid by cash $1,500.00 28 Aug The owner took $5000 out of the bank for his personal use. Provided services for cash 12 small motorbike engines 6 medium size motorbike engines 4 medium size motor bike engines 28 Aug $350.00 per engine $550.00 per engine $800.00 per engine Bought supplies on credit from big J Manufacturers 4 Bottles Fuel Injector Cleaner 9 Boxes Air Filters 8 Boxes Snarks Plugs 29 Aug $200.00 per bottle $720.00 per box $300.00 por box
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section5.2: Bank Reconciliation
Problem 1OYO
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