2011_fac1502_test_six_week_nine

2011_fac1502_test_six_week_nine - 5. The Sales Journal was...

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FAC1502 TEST SIX WEEK NINE Page 1 of 1 1 st Semester 2011 QUESTION (20 marks) (24 minutes) The following information relates to Wild Dog Manufacturers. The Debtors’ Control account has been prepared and not completed by an inexperienced bookkeeper. DEBTORS CONTROL 2009 Feb 1 Balance b/d 21 560 2009 Feb 28 Bank CPJ 600 28 Bank (total of Debtors Column) CRJ 17 950 Sales SJ 12 760 Sales Returns SRJ 1 050 Journal Credits GJ 380 Journal Debits GJ 1 480 Discount Granted CRJ 220 Petty Cash (refund) PCJ 100 ADDITIONAL INFORMATION REQUIRED 1. Only the Opening balance in the above account can be taken as correct, 2. The total of the Debtors’ List on 28 February 2009 was R15 900. 3. An invoice issued to Mark Spies was recorded in the Sales Journal as R1 940 instead of R1 280. 4. A credit note issued to John West, R250, was correctly entered into the Sales Returns Journal but entered on the incorrect side of the debtor’s personal account.
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Unformatted text preview: 5. The Sales Journal was undercast by R420. 6. Alan Stoppard has a credit balance, R500, in his personal debtor’s account and his account needs to be transferred to the creditors’ ledger. 7. Pam Start owes R6 500. She has been declared insolvent. Her estate paid 42 cents in the rand. All necessary entries have to be entered in the books. 8. A cheque received from Suzie Truter, R500, has been returned by the bank marked R/D. No entry has yet been made. 9. An old machine was sold on credit to Joan Keary for R1 480. This was correctly entered into the appropriate journal but not into her personal debtor’s account. 1. Prepare the Debtors’ Control account in the general ledger of Wild Dog Manufacturers for February 2009, correctly balanced. 2. Reconcile the total of the list of debtors’ balances with the final balance of the control account as calculated in 1....
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This note was uploaded on 02/27/2012 for the course IT 101 taught by Professor Unsure during the Spring '11 term at University of South Africa.

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