Write up the Fasihatul Enterprise two-column cashbook for the following details and balance it off at the end of the month.   Cash Date (2020) Details RM Date Details RM Jul-01 Capital 30000 Jul-02 Bank 25000 11 Sales 150 7 Purchases 400 29 Sales 300 15 Plus SdnBhd 600       21 Carriage outwards 160       30 Salary expenses 850       31 Balance c/d 3440     30450     30450 Aug-01 Balance b/d 3440           Bank Date (2020) Details RM Date Details RM Jul-02 Cash 25000 Jul-05 Equipment 3000 23 Sales 180 19 Rent expense 450       27 Electricity expense 45       31 Balance c/d 21685     25180     25180            Aug-01 Balance b/d 21685         Prepare two column cash book.     Close the account.

Q: Below is information about Lisa Ltd's cash position for the month of June 2019. 1. The general…

A: Bank reconciliation statement may be defined as the summary of banking activities and business…

Q: 38) Solo traders has the following transactions for the month of January 2019. 9- Goods purchased…

A: CASH:- Cash is considered as the most liquid asset that a particular company can buy. Cash can be…

Q: Post from cash receipts and cash payments journals to the Cash at Bank ledger account and balance…

A: Bank Reconciliation statement:   Bank reconciliation statement is a report that summarized the…

Q: On December 31, 2019 Ivan Company showed the following current assets: Cash 3,200,000 Accounts…

A: Adjusted balance of accounts receivable = Customer’s debit balances + customer deposit + customer…

Q: The following are the cash book and bank statement of DRS Enterprise for the month of December 2020:…

A: Bank reconciliation shows the reconciliation of cash balance as books of accounts and cash balance…

Q: Tranvia Company had the following balances on December 31, 2019: Cash in checking account P350,000…

A: Cash is a very important current asset for the business. It includes cash held in hand and cash held…

Q: DJ Company’s net accounts receivable were P250,000 as of December 31, 2019, and P300,000 as of…

A: The count of the number of times a company earns its total accounts receivable in under a year is…

Q: The bank column in the cash book for December 2020 and the bank statement for that month for King…

A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Q: A company reported Cash and Cash Equivalents of $17,000 on its balance sheet dated December 31,…

A: Note: Inventory/Stock is not considered cash equivalent because it might not be readily converted to…

Q: The cash book and bank statement for the month of September 2020 are given below:     Cash Book…

A: Adjusted Cash Book is prepared if there is any difference between the Balance as per Bank statement…

Q: Mr. Jimin received his August 2020 bank statement. The ending cash be accounting books is P300,000…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: What was the amount of cash Larry’s collected from customers during 2020? Group of answer choices…

A: Cash Collections from Receivables = Opening Accounts Receivables + Credit Sales - Closing Accounts…

Q: he December 31,2020 trial balance of DDD Company includes the following accounts: Cash on hand…

A: Cash and Cash Equivalents It means that  in the balance it reflect the liquidity position in the…

Q: 10) olo traders has the following transactions for the month of February 2019. 9- Goods purchased…

A: Three column cash book means the book which include detail regarding cash , bank  and discount…

Q: The bank column in the cash book for Mac 2020 and the bank statement for that month  for Keris…

A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Q: SM Investments Corporation had the following account balances at December 31, 2019: Cash on hand and…

A: Cash and cash equivalents include those items of assets which are able to be converted into cash…

Q: Below is information about Lisa Ltd’s cash position for the month of June 2019.1. The general ledger…

A: Cash receipt journal is prepared to record the cash receipts of the company. Cash payment journal is…

Q: Prepare the bank reconciliation statement as at 31 December 2020.

A: Bank Reconciliation There are many errors that can be made in the bookkeeping and it is therefore…

Q: The following are the cash book and bank statement of DRS Enterprise for the month of December 2020:…

A: BANK RECONCILIATION STATEMENT              A bank reconciliation statement is a consolidated summary…

Q: How much should be the adjusted Cash in Bank balance as of December 31, 2020? The December 31, 2020…

A: Answer: Cash equivalents are the total value of cash on hand that includes items that are similar to…

Q: Below is information about Lisa Ltd’s cash position for the month of June 2019. 1. The general…

A:

Q: Record the following transaction in simple cash book for November 2020: 01 Cash in hand 12,500 04…

A: Cashbook serves the purpose of knowing the cash in hand at any point of time for the organization.…

Q: The following are the cash book and bank statement of DRS Enterprise for the month of December 2020:…

A: In case, the balance in cash book and pass book, does not match, the cash book is to be updated as…

Q: The financial records of Delta Ltd reveal the following at 30 June 2019:   Credit Sales $120,000…

A: The number of days in receivable indicates the total days between trade sale and the payment…

Q: The December 31,2019 trial balance of Aboitiz Equity Ventures, Inc., includes the following…

A: Step 1  In cash the amount which is available immediate for use or highly liquid in nature is   to…

Q: As at June 30 2021 2020 Cash $ 22,350 $ 20,400 Accounts receivable 57,860 29,500 Prepaid expenses…

A: Accounts receivable turnover ratio (2021) = Net credit sales / Average debtors = 790,200 / 43,680 =…

Q: Data table December 31, 2023, account balances: Requirements Cash $ 28,000 Accounts Receivable…

A: Budgets are the quantitative summaries prepared to estimate in advance the receipts and payments to…

Q: The bank columns in the cash book for July 2020 and the bank statement for that month for AAA…

A: Introduction: Bank reconciliation: Its a statement prepared by the customer of the bank to reconcile…

Q: The bank columns in the cash book for July 2020 and the bank statement for that month for AAA…

A: Credit side cash book adjustment=Standing order+Bank charges=RM 220+ RM 350=RM 570

Q: Below is information about Lisa Ltd's cash position for the month of June 2019. 1. The general…

A: Cash account is prepared by the company for taking the record the cash receipt and cash payment.

Q: Solo traders has the following transactions for the month of February 2019. 9- Goods purchased and…

A: Amount transferred to Account payable column of Cash payments book = Cash paid to Ali mart for the…

Q: Mickey Mouse Corporation included the following items in their general ledger account “Cash" which…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: The bank columns in the cash book for month of June 2020 and Maybank's bank statement for that month…

A: Ideally cash balance as per cashbook and bank balance as per bank statement should reconcile with…

Q: On December 31, 2021, Erika Company reported "cash account" balance per ledger of P3,600 000 which…

A: Ledger: It is the second step of recording financial transactions. It is an account that record the…

Q: Johnson Company had the following balances on December 31, 2019: Cash in checking account…

A: Cash and Cash equivalents = Cash + Treasury bills + Cash in money market + Postage stamps (petty…

Q: Below is information about Lisa Ltd’s cash position for the month of June 2019. 1. The general…

A: The statement of Bank reconciliation is a report that matches the money balance on an organization's…

Q: The cash receipts and cash payments of Detuya Company for April 2020 follow: CASH PAYMENTS Cash…

A: The following computations are done for Detuya Company.

Q: The bank column in the cash book for December 2020 and the bank statement for that month for King…

A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Q: DJ Company's net accounts receivable were P250,000 as of December 31, 2019, and P300,000 as of…

A: Formula: Accounts receivable turnover = Net credit sales / Average accounts receivable Average…

Q: The bank column in the cash book for December 2020 and the bank statement for that month for King…

A: Bank reconciliation statement is the process in which bank balance as per the entity records is…

Q: The bank column in the cash book for Mac 2020 and the bank statement for that month for Keris…

A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Q: The bank columns in the cash book for July 2020 and the bank statement for that  month for AAA…

A: Whenever the difference occurs between cash book balance and Pass book balance, the Bank…

Q: Below is information about Adam Ltd’s cash position for the month of May 2020.1. The general ledger…

A: Cash: Cash is the money which is readily available in the form of currency. Since cash can be easily…

Q: The bank columns in the cash book for July 2020 and the bank statement for that month for AAA…

A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Q: The bank column in the cash book for December 2020 and the bank statement for that  month for King…

A: Cash book:- Cash book refers to the book which contain all the receipts and disbursements, including…

Q: The December 31,2019 trial balance of Aboitiz Equity Ventures, Inc., includes the following…

A: Given: The December 31,2019 trial balance of Aboitiz Equity Ventures, Inc., includes the following…

Q: a) Update the cash receipts and cash payments journals by adding the necessary adjustments and…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is