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NAME: Syed Fatir Hussain
Student ID: bc120401949
Question No.1
Solution
HCL Company Limited
Debtor’s Control Account
As on 31 March 2012
Debtor’s Control Account
Debit side Rs. Credit side Rs.
Date No. Narration Dr. Date No. Narration (Cr.)
Total credit sales 108,260 Receipts 93,570
1/3/12 Debtors 95,400 Cash Discounts 1,430
31/3/12 Debtors 92,440 Bad debts 1,560
Dishonoured cheque 10,000 Cash Refund 2,000
Balance c/d 207540
Total 306100 Total 306100

Part-B
Solution

HCL Company
Corrected balance of cash book
As at 31 March 2012
Balance as per cash book 20000
Add:
Unrecorded cheque 2000
Wrongly credited balance 3000
Wrongly charged cash discount 35 25035



Less:
Outgoing cheque recorded 600
Payment under cast 200
Cash discount allowed 115 ( 915)
Adjusted balance of the cash book 24120

HCL Company
Bank reconciliation statement
As at 31 March 2012
Adjusted balance of cash book 24120
Less:
Uncleared cheque (1000)
Balance as per pass book 23120

Views: 972

Replies to This Discussion

@ Tom and jerry,

Are you sure about the above solutions?because I am also getting the same answers...

Solution:

 Q1:

                                 Debtor’s Control Account                                                      Account code-                                                       

 

 

Debit side

Rs.

 

 

Credit side

Rs.

Date

No.

Narration

Dr.

Date

No.

Narration

(Cr.)

 

 

Total credit sales

108260

 

 

Receipts

93570

1/3/12

 

Opening debtors

95400

 

 

Discounts Allowed

1430

 

 

Dishonored

10000

 

 

Bad debts (written off)

1560

 

 

Refund

2000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance c/f

119100

 

 

Total

215660

 

 

Total

215660

 Solution:

Q2:

                                                                                      Rs.

 

Balance as per cash book (Dr.)                                       20000

Add:

Unrecorded cheque                                                            2000 

Outgoing cheque twice recorded                                         600

Less:

Balance wrongly b/f                                                           1500

Payment side under cast                                                     200

Cheque receives but not sent to bank                                 1000

Cash discount record over cast                                           36 (151-115)

 

Balance as per bank statement (Cr.)                               (19864)

Please check them and inform me....

THANKS...

yes its true

dear sir 31 march walay debitor par aap ney ziyada meherbani kar di hai yeh bata dain iin debitor ko why not showing in debitor account all entries are in different times so why u people are not showing them. thank you.

you are doing wrong first  we can record and adjust the cash book so we add amounts and less the amount when we have adjusted balance of cash book(bank boo) then from adjusted cash book you make less 1000 of uncleared cheque which is not presented in cash book. adjusted entry will make for balance wrongly b/f this will add 3000 cash discount over cast 36 so we add it to the cash booh because cash discount entry is cash discount expense it (dr) and cash book (cr) so we 36 not less from cash book  all s are ok the last thing you are using wrong method please make it right od is totally wrong to correct method see the above i mention it first i find the cash book balance then i less the amount from cash book to become similar to bank statement (pass book) because i have a cash book i can make changes in cash book but bank statement i did not make it it is made by the bank and then i make adjustement in cash book to become equal to bank statement which all of us have to show in the bank reconciliation statement  you are accountan what you are showing is it showing any sense i do no think so. look above in my reply and try to understand ooh god!!!!!!!!!!!!!!!!!!!!!!!!!!!!

dear balance wrongly 1500 ko thorha explain kar do hy k kesy aya 

aik reverse entry ho gi 1500 se aur phir 1500 se balance bebit hoga total 3000 dr ho ga

                                                                           

 

 

Q#1

 

 

 

                                                     Debtor Control Account

 

Date

Particular

Rs

Date

Particular

Rs

1st

 

 

 

 

 

 

 

Opening debtor

 

Credit sale

 

Cash refunded

 

Dishonored cheque

 

95400

 

108260

 

2000

 

10000

 

Cash receive

 

Bad debt(W.off)

 

Discount Allowed

Balance c/f

93570

 

1560

 

1430

119100

total

215660

215660

  

 

 

 

 

 

                    Bank Reconciliation Statement as on  December 2012

 

               Details

         Rs                     

          Rs

     Balance as per Cash Book

 

+   Unrecorded cheque

 

      Double recorded cheque

Total

      

      Balance b/f

 

 

 -   Under cast payment side

 

       Over cast payment side

 

      Cash receive but not sent

 

 

 

   Balance as per pass book

 

     

       2000        

 

        600  

 

         

         1500

        

 

         200

 

          36

 

         1,000

      20000      

 

       

 

       2600 

      22600

 

 

 

 

 

 

 

 

      2736

 

 

 

      19864

 

wrong hai

fatir only one thing i'm not sure about or is confusing in your assignment that cash refund are assumed to be cash payments than how it can be written on credit side? anybody??

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