19/06/2026, 12:21 FAC1502-Exam May/June 2026 (page 1 of 5)
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You have been asked to assist with the preparation of the cash receipts journal, cash payments journal, and the bank reconciliation
statement of Thembi Traders for the month ended 30 April 2026. Thembi Traders consistently maintains a favourable bank balance
because it does not have an overdraft facility. You have been provided with the following information to assist with your work. Thembi
Traders is not a registered VAT vendor and uses the periodic inventory system
Review of March 2026 reconciling items using the April 2026 bank statement:
Your comparison of the March 2026 bank reconciliation statement with the bank statement for the month ended 30 April 2026
revealed the following:
(a) The 31 March 2026 bank balance as per the bank account in the general ledger was R6 835.
(b) Payment no 41 for R1 230 in favour of KK Sams dated 02 March 2026 was recorded in the cash payments journal. It appeared
twice on the April bank statement.
(c) Payment no 91 for R280 dated 05 March 2026 in respect of the debit order in favour of ABC Insurers was cancelled after the
amount was had already been entered in the cash payments journal. No correction has been made.
(d) Payment 94 for R1 565 dated 28 March 2026 for AB Wholesalers had still not been processed by the bank as of 30 April 2026.
Additional information for April 2026:
1. The following information was obtained for the month of April:
, 19/06/2026, 12:21 FAC1502-Exam May/June 2026 (page 1 of 5)
Question 1
Answer saved
Time left 0:44:03
Marked out of 20.00
You have been asked to assist with the preparation of the cash receipts journal, cash payments journal, and the bank reconciliation
statement of Thembi Traders for the month ended 30 April 2026. Thembi Traders consistently maintains a favourable bank balance
because it does not have an overdraft facility. You have been provided with the following information to assist with your work. Thembi
Traders is not a registered VAT vendor and uses the periodic inventory system
Review of March 2026 reconciling items using the April 2026 bank statement:
Your comparison of the March 2026 bank reconciliation statement with the bank statement for the month ended 30 April 2026
revealed the following:
(a) The 31 March 2026 bank balance as per the bank account in the general ledger was R6 835.
(b) Payment no 41 for R1 230 in favour of KK Sams dated 02 March 2026 was recorded in the cash payments journal. It appeared
twice on the April bank statement.
(c) Payment no 91 for R280 dated 05 March 2026 in respect of the debit order in favour of ABC Insurers was cancelled after the
amount was had already been entered in the cash payments journal. No correction has been made.
(d) Payment 94 for R1 565 dated 28 March 2026 for AB Wholesalers had still not been processed by the bank as of 30 April 2026.
Additional information for April 2026:
1. The following information was obtained for the month of April:
· Cash Receipts Journal subtotal (bank column) R12 690
· Cash Payments Journal subtotal (bank column) R6 845
2. When comparing the cash journals with the bank statement for April 2026, you identified the following:
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Question 1
Answer saved
Time left 0:44:03
Marked out of 20.00
Dashboard Calendar
You have been asked to assist with the preparation of the cash receipts journal, cash payments journal, and the bank reconciliation
statement of Thembi Traders for the month ended 30 April 2026. Thembi Traders consistently maintains a favourable bank balance
because it does not have an overdraft facility. You have been provided with the following information to assist with your work. Thembi
Traders is not a registered VAT vendor and uses the periodic inventory system
Review of March 2026 reconciling items using the April 2026 bank statement:
Your comparison of the March 2026 bank reconciliation statement with the bank statement for the month ended 30 April 2026
revealed the following:
(a) The 31 March 2026 bank balance as per the bank account in the general ledger was R6 835.
(b) Payment no 41 for R1 230 in favour of KK Sams dated 02 March 2026 was recorded in the cash payments journal. It appeared
twice on the April bank statement.
(c) Payment no 91 for R280 dated 05 March 2026 in respect of the debit order in favour of ABC Insurers was cancelled after the
amount was had already been entered in the cash payments journal. No correction has been made.
(d) Payment 94 for R1 565 dated 28 March 2026 for AB Wholesalers had still not been processed by the bank as of 30 April 2026.
Additional information for April 2026:
1. The following information was obtained for the month of April:
, 19/06/2026, 12:21 FAC1502-Exam May/June 2026 (page 1 of 5)
Question 1
Answer saved
Time left 0:44:03
Marked out of 20.00
You have been asked to assist with the preparation of the cash receipts journal, cash payments journal, and the bank reconciliation
statement of Thembi Traders for the month ended 30 April 2026. Thembi Traders consistently maintains a favourable bank balance
because it does not have an overdraft facility. You have been provided with the following information to assist with your work. Thembi
Traders is not a registered VAT vendor and uses the periodic inventory system
Review of March 2026 reconciling items using the April 2026 bank statement:
Your comparison of the March 2026 bank reconciliation statement with the bank statement for the month ended 30 April 2026
revealed the following:
(a) The 31 March 2026 bank balance as per the bank account in the general ledger was R6 835.
(b) Payment no 41 for R1 230 in favour of KK Sams dated 02 March 2026 was recorded in the cash payments journal. It appeared
twice on the April bank statement.
(c) Payment no 91 for R280 dated 05 March 2026 in respect of the debit order in favour of ABC Insurers was cancelled after the
amount was had already been entered in the cash payments journal. No correction has been made.
(d) Payment 94 for R1 565 dated 28 March 2026 for AB Wholesalers had still not been processed by the bank as of 30 April 2026.
Additional information for April 2026:
1. The following information was obtained for the month of April:
· Cash Receipts Journal subtotal (bank column) R12 690
· Cash Payments Journal subtotal (bank column) R6 845
2. When comparing the cash journals with the bank statement for April 2026, you identified the following:
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