The information below applies to Questions 1 to 3, and relates to Sun-Eaze, a sunglass retailer.
Bank reconciliation statement of Sun-Eaze as at 31 March

Take note of the following supplementary information:
• Cheque no. 390 was issued six months ago and needs to be cancelled, as it is stale. The amount had initially been paid to Brand Republic for online marketing.
• Shades paid for repairs done for them on the previous day via a direct deposit to the business.
• Cheque no. 461 was correctly recorded in the cash payments journal.
• G Grey settled his outstanding account through a direct deposit to the business on 10 April.
• Cheque no. 463 should only have been debited once on the bank account.
• Watchdog Security, who provides the business with security services, was paid via a monthly debit order.
• Deposit no. 574 on 20 April was incorrectly recorded in the cash receipts journal.
• Cheque no. 0984 was not written out by the business, and should have been debited to a different account.
• The monthly telephone bill was paid to Get Wired by debit order.
• A cheque received from F Baggins for payment of his outstanding account, which had originally been deposited as deposit no. 573, was returned by the bank due to insufficient funds.
Cash journals
Cash receipts journal of Sun-Eaze – April CRJ1 CRJ4

Question 1

Complete the cash receipts and cash payments journals with information noted in the bank reconciliation statement, bank statement, and supplementary information.

Note: The transactions currently recorded in the cash journals need not be included in the journals below – only record any additional transactions. However, use the transactions above to calculate the totals of the journal columns. The rand symbol (R) is not required. The “folio”, “analysis of receipt”, and “cost of sales” columns may be ignored.

Question 2

Using the cash receipts and cash payments journals, prepare the bank account in the general ledger for April. The rand symbol (R) is not required.

Bank

Question 3

Prepare the bank reconciliation statement of Sun-Eaze as at 30 April, using the information provided and prepared above. The rand symbol (R) is not required.

Bank reconciliation statement of Sun-Eaze as at 30 April

Question 4

Soled Out is a shoe store, specialising in sneakers. The store only makes credit sales to its customers. One of its debtors, The Shoebox, had an outstanding balance of R200000 on
1 December 2018and had the following transactions with Soled Out during the month.

Prepare the account for The Shoebox in the debtors ledger of Soled Out for the month of December. The rand symbol (R) is not required.

The Shoebox

Get completed answers on above questions on Bookkeeping and Accounting

Answer 1: 

The preparation of cash receipts and cash payments journals with information noted in the bank reconciliation statement, bank statement, and supplementary information is performed as follows:

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