answer these in 2 hour thankyou (QUESTIONS CONTINUE ON NEXT PAGE) QUESTION 16 The...
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answer these in 2 hour thankyou
(QUESTIONS CONTINUE ON NEXT PAGE) QUESTION 16 The cashbook shows a bank balance of 43,250 overdrawn at 30/11/21. It is subsequently discovered that a standing order for 8,000 has been entered twice, and that a dishonoured cheque for 2,725 has been debited in the cashbook instead of credited. What is the correct bank balance? WORKINGS: ANSWER: (3 marks) QUESTION 17 An inexperienced bookkeeper has drawn up the following receivables control account: RECEIVABLES CONTROL ACCOUNT Opening Balance 56,450 Credit Sales Cash received from receivables 192,300 Contras against payables Sales Returns 7,010 Irrecoverable Debts 3,520 Closing balance Discounts allowed 4,270 (balancing figure) 263,550 201,030 17,100 45,420 263,550 What should the closing balance be after correcting the errors made in the account? WORKINGS: RECEIVABLES CONTROL ACCOUNT ANSWER: (4 marks)
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