Reference no: EM133168172
Question - The following transactions by Africa Traders occurred during February 2021:
1. The provisional total of the bank column in the Cash receipts journal was R17 150.
2. The provisional total of the Cash payments journal was R20 650.
3. A direct deposit for an amount of R930 made by Africa Traders relating to cash sales, was correctly reflected in the book of first entry for the month of February 2021 however, it was incorrectly recorded as R390 on the Bank statement for the month of February 2021.
4. The owner of Africa Traders deposited R1 100 into Africa Traders business bank account, which is held with SA Bank. The transaction has not yet been recorded in the relevant accounting records of Africa Traders.
5. A debit order to the amount of R2 230 in favour of SA Insurers appears on the bank statement of SA Dealers. No entry has been recorded in the relevant accounting books.
6. On 10 February 2021, Africa Traders made an electronic funds transfer to the amount of R2 430 to SA Traders. Africa Traders forgot to update the relevant records of first entry regarding the electronic funds transfer.
Required - What will the new total of the bank column in the Cash Payments Journal of Africa Traders at 28 February 2021 be?
|
Laws and categories of norms
: Describe and give examples of each type of norm, and explain the differences between laws and the other three categories of norms.
|
|
Journalize the entries required on august
: The market price of the stock was $63 per share on August 2. Journalize the entries required on August 2, September 15, and October 8
|
|
Colonialist model ostensibly
: The Colonialist model ostensibly recognizes the value of psychology, What would be some of the advantages and disadvantages of this approach?
|
|
Determine the incremental earnings from the purchase
: Billingham's marginal corporate tax rate is 21%. Determine the incremental earnings from the purchase of the XC-750
|
|
What will the new total of the bank column
: The provisional total of the bank column in the Cash receipts journal was R17 150. What will the new total of the bank column
|
|
Determine the total productivity ratio
: The firm manufactured 3,300 units of the same product in 2021 with the folowing inputs: 600 direct labor hours at $58 per hour. Determine the total productivity
|
|
Compute the prime cost and period cost
: The following costs relate to BSA2K Industries for the year ended 2020: Factory Overhead 100,000. Compute the Prime Cost and Period Cost
|
|
Determine the flexible-budget variance for materials
: The company planned to produce 3,400 units, but actually produced only 3,000 units. Determine the flexible-budget variance for materials
|
|
Determine the operating income for the period
: Selling, general, and administrative expenses were $80,000; net sales were $390,000; interest expense was $16,000; Determine the operating income for the period
|