FAC1501 Assignment 4 Quiz Unlock

1. UNISA
2. 2024
3. FAC1501-24-S1
4. Learning unit 8
5. D - Learning unit 8: Quiz 1



QUIZ

D - Learning unit 8: Quiz 1
Open block drawer
Started on Friday, 26 April 2024, 10:44 PM
State Finished
Completed on Friday, 26 April 2024, 10:49 PM
Time taken 4 mins 42 secs
Marks 29.55/30.00
Grade 99.17 out of 100.00
Question 1
Partially correct
Mark 16.55 out of 30.00

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Question text
Miss A Sunday provided you with the following information regarding her business, AS Uniforms, for the
month ended 31 August 2022:

1. AS UNIFORMS
BANK RECONCILIATION STATEMENT AS AT 31 JULY 2022

Debit Credit
R R
Debit balance as per bank statement................................................... 12
000
Credit outstanding deposit.................................................................... 15 000
Debit outstanding EFT's: 910......................................................... 1 700
915......................................................... 950
917......................................................... 670
Credit balance as per bank account..................................................... 320
15 15 320
320


2. The totals in the cash receipts journal and the cash payments journal for the month
ended 31 August 2022 were R16 900 and R9 000 respectively.


3. When Miss A Sunday compared her cash receipts journal and cash payments journal
for the month ended 31 August 2022 with her bank statement for the month ended
31 August 2022, she noted the following differences:
 A deposit for R15 000 appeared in the bank statement only.
 The following EFT’s appeared in the bank statement only:

, R
EFT no: 910 1 700
EFT no: 917 670

 The following EFT’s only appeared in the cash payments journal for the
month ended 31 August 2022:
R
EFT no: 925 750
EFT no: 928 1 000
EFT no: 931 4 300

 A deposit made by Miss A Sunday on 31 August 2022 for R10 500 did not
appear in the bank statement.
 Miss A Sunday sublets part of the business premises to Mr T Mickey for
R3 500 per month. Mr T Mickey pays his rent every month via a direct
deposit into the bank account of AS Uniforms.
 The following debit orders appeared in the bank statement only:
- A debit order in favour of RS Insurers for R3 300 which is the monthly
insurance premium.
- A debit order in favour of VAL Cars for R2 500 which is the monthly
repayment for the delivery vehicle.
- A debit order in favour of Summer Adds for R700 which is the monthly
advertising fee.
 A school, ARK Schools, ordered uniforms to the value of R5 000. The
amount was paid via a direct deposit into the bank account of AS Uniforms.

 Bank charges for the month amounted to R300.

 Interest on the bank overdraft amounted to R90.

 The bank statement shows a favourable balance of R5 690.

REQUIRED:

1. Complete the cash receipts journal and the cash payments journal of AS Uniforms for August 2022.
(Details and bank column only.)

2. Prepare the bank account for August 2022 in the general ledger of AS Uniforms. This account must be
properly balanced at the end of the month.

3. Prepare the bank reconciliation statement of AS Uniforms as at 31 August 2022.




AS UNIFORMS
CASH RECEIPTS JOURNAL (BANK COLUMN ONLY) – AUGUST 2022 CRJ10
Day Details Bank
R