Reference no: EM132770015
Question - Sellers plc have closed their accounts for the month of February. The total of all the individual balances in the sales ledger at the end of the month came to £205,640. The accounts receivable balance in the general ledger at that time was £225,000.
After an investigation you discover that;
1. A sales invoice for £12,900 included in the sales day book had not been posted to the customer's individual account in the sales ledger.
2. Discounts allowed to a customer of £1,260 had been credited to the customer's account in the sales ledger but no other entry had been made for them.
3. A sales return (goods sent back to Sellers plc from a customer) for £3,000 had been recorded twice in the general ledger.
4. A sales invoice for £9,400 had been entirely omitted from the books.
5. A debit balance of £7,400 on the personal account of a customer had been included in the list of balances as £4,700.
6. The balance on a customer account in the sales ledger of £5,500 had been omitted from the list of balances.
Required - You are required to;
A - Calculate the correct amount for accounts receivable in the general ledger.
B - Produce a reconciliation of the sales ledger to the general ledger.
|
What will ending balance be ten years from today
: Assuming that you make no additional deposits into or withdrawals from the account, what will your ending balance be 10 years from today?
|
|
What would you say to a friend who read the article
: What would you say to a friend or family member who read the article and had questions? Would you tell them to use the drug, buy the product.
|
|
Demonstrate what is the present value of that annuity
: Pays $100 a week for 200 weeks. Current interest rates are 5.4 percent APR with weekly compounding. What is the present value of the annuity?
|
|
Information governance and legal functions
: Information Governance and Legal Functions: According to the authors, Smallwood, Kahn, and Murphy, IG is perhaps one of the functional areas
|
|
Calculate the correct amount for accounts receivable
: A sales invoice for £9,400 had been entirely omitted from the books. Calculate the correct amount for accounts receivable in the general ledger
|
|
How would you convince the students to join the club
: What kinds of activities/events will you be offering? How would you convince the students to join the club?
|
|
Significant association between socioeconomic determinants
: Is there a significant association between socioeconomic determinants (wealth index, occupation, education attainment, marital status), and maternal mortality
|
|
How much is the profit or loss
: A transferred inventory, costing 400, to C , the appointed manager. A paid freight 20 on the transfer. How much is the profit or loss
|
|
Should we as a society, be drinking more or less milk
: Most Americans have the perception that drinking milk will give us strong bones, but is this true? Are dairy products, specifically milk, an effective dietary.
|