How might Rita be able to check that the account balances shown in the financial reports were correct?

Assuming the information in the financial statements is a true and accurate reflection of the source systems and ledgers, what type of adjusting entries might Rita think about making?View keyboard shortcutsEditViewInsertFormatToolsTable12ptParagraph

Your audit disclosed that on December 31, 2018, the accounts receivable control account of Alilem Company had a balance of P2,865,000.  An analysis of the accounts receivable account showed the following: Accounts known to be worthlessP    37,500Advance payments to creditors on purchase orders150,000Advances to affiliated companies375,000Customers’ accounts reporting credit balances arising from sales return (225,000)Interest receivable on bonds150,000Other trade accounts receivable – unassigned750,000Subscriptions receivable for common stock due in 30 days825,000Trade accounts receivable  - assigned (Finance company’s equity in assigned accounts is P150,000) 375,000Trade installment receivable due 1 – 18 months, including unearned finance charges of P30,000 330,000Trade receivables from officers due currently22,500Trade accounts on which post-dated checks are held (no entries were made on receipts of checks)        75,000 P2,865,000 Based on the above and the result of your audit, determine the adjusted balance of the trade accounts receivable as of December 31, 2018.Select one:a.P1,447,500b.P1,485,000c.P1,147,500d.P1,522,500

Which report is constructed immediately prior to preparing the financial statements with the purpose of demonstrating that the accounts balance?Multiple choice question.Post-closing trial balanceClosing entriesAdjusted trial balanceUnadjusted trial balance

The following information relates to Babu Services for August 20.19:         BABU SERVICES1.      BANK RECONCILIATION STATEMENT AS AT 31 JULY 20.19 Unfavourable balance per bank statement………………………………………………R(4 375)Deposit not yet credited……………………………………………………………………16 720Favourable balance per bank account………….………………………………………..? 2.      The bookkeeper received the bank statement for August after the August cash journals were totaled. On comparing it with the August cash journals the following items did not appear in the cash journals:BANK STATEMENT FOR AUGUST 20.19DetailsDateDebitCredit Deposit ………….…………………………………………… 01/08R R16 720Stop order - Insurance………………………………………..................17/082 250 Service fees……………………….………………………….Interest………………………………………………………..EFT PR P831….……………………………………………..Debit order – City Council…………………………………..26/0826/0826/0827/08700 6752 550 105 Additional information regarding the bank statement received on 31 August 20.19.2.1    EFT PR P831 was made in favour of a creditor, I Moloi. The amount was incorrectly entered in the cash payments journal as R765.2.2    The debit order in favour of the City Council was for the owner’s private water and electricity account.2.3    On 31 August 20.19 the bank statement showed a credit balance of R2 765.3.      A deposit for R14 750 appeared in the cash journals, for August 20.19, but not on the bank statement for the same period:          4.      Provisional totals at 31 August 20.19 was:                                                                                                                                                                                            RCash receipts journal                                                                                                          57 175Cash payments journal46 700Prepare the bank account in the general ledger of Babu Services, properly balanced, at 31 August 20.19.Instructions:Drag the correct answer into the correct space.An option can be used more than once.If an options has been provided and it is not applicable to the specific questions please put N/A in the accounts column and a 0 in the amounts column.Start with the subtotals and thereafter keep the transactions strictly in the order they were given.blank blank blank blank blank blank blank blank blank blank BalanceTotal receiptsTotal payments67 84512 3457 17557 28057 26564 54569 71552 30557 17546 70057 85010 47552 9654 3752 76552 20017 51515 64552 29057 370

Zapata is preparing her annual taxes for her retail clothing business, La Calidad. She has been performing quarterly reconciliations of her accounts and is about to do her final quarterly review. She begins with an analytical review, and then, digs deeper if a discrepancy is noted. Review the source documents and statements below to answer the questions. Compare the two documents below to reconcile the bank account. Then, determine which of the following are errors. (Select all that apply)1 pointThe balance totaled on 10/27 and 11/01 is incorrectThe charge on 12/21 was transposed incorrectlyThe ledger omitted the bank tax on 12/10 The bank omitted the check deposit on 11/14