On comparing the cash journals of SA Traders for the month ended 31 January 2022 with the bank statement for the same period, it was noted that cheque no 102 dated 26 January 2022 and issued to SA Stationers for the amount of R282 for stationery purchased was recorded incorrectly in the cash payments journal as R228. To correct this, you need to … in the accounting records of SA Traders.Select one:a.Enter R54 in the cash payments journal.b.Enter R282 in the cash payments journal.c.Enter R54 in the cash receipts journal.d.Enter R282 in the cash receipts journal.

On comparing the cash journals of SA Traders for the month ending 31 January 2020 with the bank statement for the same period, it was noted that an amount of R520 for interest received appears on the banks statement but has not been recorded in the subsidiary journals.The correct entry in the accounting records of SA Traders should be the following:Select one:a.An entry of R520 in the cash payments journal of SA Traders for 31 January 2020.b.An entry of R520 in the credit column of the bank reconciliation statement of SA Traders as at 31 January 2020.c.An entry of R520 in the cash receipts journal of SA Traders for 31 January 2020.d.An entry for R520 in the debit column of the bank reconciliation statement of SA Traders as at 31 January 2020.

Following information are given: [6]a) On Magh 31, Cash book showed a bank balance of Rs. 85,000.b) Cheque issued but not presented for payment Rs. 15,000.c) Cheque deposited but not credited by bank Rs. 10,000.d) Interest on saving account credited by bank Rs. 5,000.e) Bank charge debited only in pass book Rs. 500.f) Insurance premium paid by bank not recorded in cash book Rs. 3,000.Required: Bank Reconciliation Statement

The following balances were extracted from the accounting records of SA Traders at 31 January 2022. REquipment  405 000Bank (cr)100 000Long-term loan220 000Trade payables control85 000Inventory15 000Trade receivables control79 000 The equity amount of SA Traders at 31 January 2022 is as follows?Select one:a.R94 000b.R90 000c.R194 000d.R294 000

An entity received R500 cash for the sale of goods. The entity applies the periodic inventory system and posted the following journal entry in the general journal:Debit: Sales    R500Credit: Bank      R500 This error will be detected in the trial balance, because the total debits and the total credits will NOT be equal.

Bank Reconciliation StatementMarkson’s & cash book balance and bank statement balance at 31 March 2021 does not agree. The following information has been given to you as a student of accounting to help the company reconcile the difference:The balance per the cash book is GH¢3,300.A cheque of GH¢6,000 issued to a supplier on 30 March 2021 was still in the supplier’sInsurance paid by the bank is GH¢400. This is yet to be recorded in the cash book.An outgoing cheque of GH¢2,000 was recorded twice in the cash book. It is accurately recorded in the bankPayment of a GH¢1,000 cheque is recorded twice in the bankThe bank statement recorded an amount of GH¢1,200 as dividends received from Kankam There is no such transaction in the cash book.A cheque of GH¢1,000 received from a customer was deposited at the bank on 29 March 2021, but this amount has not yet reflected in the bank statement.Bank charges in the bank statement amounted to GH¢100.Required: a. List out the items and balances for the credit side of the updated / adjusted cashbookb. List out the items and balances for the debit side of the updated / adjusted cashbookexample: Debit: Dishonoured cheques GHS 2,000, Credit: Standing order GHS 1,000.