Reference no: EM132545477

On 30 June 2019 ABC Pty Ltd had a cash balance as per bank ledger (company records) of $55,000 debit. The bank statement from CBA Bank on that date showed a credit balance of $40,800.

A comparison of the statement with the cash account revealed the following facts:

Cash sales of $17,600 on 30 June were deposited in the bank but not yet recorded in the bank statement.

Unpresented cheques at 30 June

Cheque #111 $2,000

Cheque #165 $500

Included with the cheques paid was a cheque issued to John Smith (supplier) for $4,300 was incorrectly recorded in the bank statement as $3,400.

Prepare the bank reconciliation statement as at 30 June 2019.

Question 1: The following information was provided by berry pty ltd for the last 3 years. 2018 2019 2020 gross profit margin 53% 50% 47% net profit margin 17% 17% 17% which one of the following would be incorrect assumption to interpret the above data?

Question 2: business uses a perpetual system when accounting for inventory. details of an item of inventory reveal the following: 1 april opening inventory 250 units @ $12 4 aprilpurchases 100 units @ $13.50 8 aprilsales 300 units how much is the cost for the sale of 300 units on 8 april if weighted average cost method is used? select one: none of these $3,729 $4,050 $3,675 $4,350 clear my choice

Question 3: bluey pty ltd provided the following information for the year ended 30 june 2019. wages: accrued wages at 30 june 2018 and 30 june 2019 are $700 and $200 respectively and the payments for wages totalled $18,000 for the year ended 30 june 2019. what would be correct closing journal entries for the wages expense account? select one: dr p & l summary $18,200 cr wages expense $18,200 none of these dr p & l summary $18,500 cr wages expense $18,500 dr p & l summary $18,000 cr wages expense $18,000 dr p & l summary $17,500 cr wages expense $17,500 clear my choice.

Question 4: millie and rose each contribute $40,000 cash to purchase the business of billy wong on 1 february 2019 for $300,000. the assets and liabilities of the business are furniture and fittings $40,000 with accumulated depreciation $10,000, accounts receivable $45,000 and accounts payable $5,000. these values are accepted, except that the agreed value of accounts receivable is $40,000. what is the journal entries to record the capital contributions of millie and rose and the acquisition of billy wong's business?

Question 5: oakey & associates had the following account balances. what would be the capital balance? cash at bank motor vehicles 5 000 19 000 mortgage drawings 25 000 1 000 creditors 10 000 inventory 3 800 debtors 12 200 office equipment 8 600 loan from dalby ltd 7 000

select one:

$39,600

$1,200

none of these $

25,600 $7,600.