Multiple Choice Questions (15 to 16)
You are the auditor of Vosrau (Pty) Ltd. On comparing the cash book (cash receipts and cash payments journals) with the bank statement at 31 March 2010, you ascertained the following:
|1.. Items in the cash receipts and cash payments journals of|
March 2010 that could not be ticked off on the bank statements:
1.1 A deposit on 31 March 2010 325
1.2 Cheque number 2001 issued on 28 March 2010
| R |
|2. Items on the bank statement that could not be ticked off in the cash book (cash receipts and cash payments journals) of March 2010:|
2.1 Cheque number 1801 issued on 27 February 2010 350
2.2 A deposit paid directly into the company’s bank account by
a debtor C. Os 475
2.3 A deposit that should have appeared on the account of
Rauvos (Pty) Ltd 150
2.4 Interest on bank overdraft, R25 and bank charges R15
|3. Additional information:|
Bank overdraft as per bank statement at 31 March 2010
Which one of the following amounts represents the correct balance on the bank account in the general ledger at 31 March 2010?
- R100 favourable
- R250 favourable
- R500 unfavourable
- R850 unfavourable
- None of the above
The following transactions by Heymans Limited occurred during October 2010:
- Interest received on investment at Bay Bank – R180.
- Cash sales for the month – R1 600.
- E Walllis, a creditor, was paid R120 on his account.
- Sold merchandise on credit to M May for R500.
- Rent paid – R100.
- Merchandise purchased on credit from E Wallis for R200.
- A cheque of R100 was sent to E Wallis in part-payment of his debt.
- M May returned merchandise, unfit for use, with a selling price of R50.
Which one of the following amounts represents the correct balance on the bank account in the general ledger of Heymans Limited at 31 October 2010, after the totals of the cash journals have been transferred? The favourable bank balance at 1 October 2010 amounted to R200.
- R1 460 Cr
- R1 710 Cr
- R1 660 Dr
- R2 160 Dr
- None of the above