By W. Bosua, M. Schutte
A significant desire exists between scholars and others who've no longer formerly come into touch with the elemental rules of monetary accounting. uncomplicated monetary accounting solutions this want. The authors make no assumptions concerning the reader's earlier wisdom of economic accounting. sensible workouts on the finish of every bankruptcy let the reader to check his or her personal development. easy monetary Accounting is a perfect introductory or bridging textual content for college students new to the topic, their teachers, and for the final acquisition of the elemental strategies of monetary accounting. This e-book can be very useful as a revision device for simple monetary accounting options and ideas. The fourth version has been completely revised take into consideration the most recent IFRS terminology. extra actions were extra to every bankruptcy, and a completely new bankruptcy has been additional on value-added tax.
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3. Draw up the new trial balance. 53 Module Bank reconciliation statement 4 Specific outcomes By the end of this module you should be able to: 1. Compare the cash receipts journal and the cash payments (or cash book) journal with the bank statement. 2. Do the supplementary cash book and the bank reconciliation. 1 Comparison of the CRJ and CPJ (cash book) with the bank statement All cash transaction are recorded in the cash book or a CRJ and CPJ. At the end of each month a balance is calculated in the cash book, or the totals of the CRJ and CPJ are noted.
2 Record the following transactions in the correct columns, as in the given example below. Use the symbols ‘‘+’’ for an increase, ‘‘–’’ for a decrease and ‘‘0’’ when it remains the same. The columns O = owner’s equity, A = assets and L = liabilities. 50 MODULE 3: Subsidiary journals Example: The owner of B & J Distributors deposited R20 000 in the bank account of the business as his capital contribution. Transaction no. 1 Subsidiary journal Cash receipts journal Account debited Bank Account credited Capital Amount O A L R20 000 + + 0 Transactions 1.
Paid salaries and wages by cheque, R12 800. Cashed sales of inventory, R3 000. E. Insurance company by cheque, R2 000. Bought vehicles from Zero Garage, R60 000 cash. Sold a used computer to a worker, R50 cash. Purchased stationery on credit from Proes Street Stationeries, R350. Paid the interest on the loan at Alpha Bank per cheque, R300. Received a cheque of R500 from a debtor, A. Mans, in full settlement of his account of R520. Paid our debt to a creditor, B. Ben, by cheque in full settlement of our account of R3 000.
Basic Financial Accounting by W. Bosua, M. Schutte