BMZ ACADEMY
BMZ Academy
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BMZ ACADEMY 0612621185/ 0717513144/ 068 053 8213
,5/23/24, 5:32 AM Assessment 4: Attempt review
FAC1501-24-S1 Welcome to FAC1501 Assessment 4
QUIZ
Started on Thursday, 25 April 2024, 8:04 AM
State Finished
Completed on Thursday, 25 April 2024, 9:14 AM
Time taken 1 hour 9 mins
Marks 47.00/50.00
Grade 94.00 out of 100.00
Feedback You passed this assessment with a distinction. Keep up the good work.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18250930&cmid=842828 1/9
,5/23/24, 5:32 AM Assessment 4: Attempt review
Question 1
Correct
Mark 30.00 out of 30.00
The bookkeeper of Agripa Superstore totalled the cash receipts and cash payments journals for September 2022 before she received the
bank statement for September 2022. The totals of the cash journals were as follows:
Cash receipts journal R91 455
Cash payments journal R72 481
On comparing the bank statement with the cash receipts and cash payments journals for September 2022 and the bank reconciliation
statement for the month of August 2022, the following were noted:
1. On 1 September 2022, the bank account in the general ledger showed an unfavourable balance of R3 867.
2. On 30 September 2022, the bank statement showed an unfavourable balance of R17 180.
3. The following appeared on the bank statement, but not in the cash journals:
annual service fee – R425
cash withdrawal fee – R90
cash deposit fees – R520
a deposit on 25 September 2022 of R8 722 from Fleetrisk Insurance, a client, paid directly into the bank account of
Agripa Superstore for goods previously sold on credit.
a debit order of R830 in favour of SA Adds for an advertisement placed in the local news paper.
4. The following appeared in the cash journals, but not on the bank statement:
debit card payment 70 made to the municipality on 30 September 2022, for water and electricity, while the system was offline – R2
340
deposit of R20 575, dated 30 September 2022.
5. Mrs South, a client, made an electronic transfer of R3 520 as payment on her account. The bookkeeper incorrectly entered the amount
as R2 230 in the cash receipts journal.
6. An electronic funds transfer for R6 200, made by another client of the bank, P Eddy, was erroneously entered on the bank statement of
Agripa Superstore.
7. Goods sold on credit for R15 999 on 28 September 2022, was erroneously recorded in the cash receipts journal of Agripa Superstore,
instead of the sales journal.
REQUIRED:
Complete the following in the accounting records of Agripa Superstore for the month ended on 30 September 2022:
The cash receipts and cash payments journals (bank columns only), properly totalled, as at 30 September 2022
The bank account in the general ledger, properly balanced, as at 30 September 2022
The bank reconciliation statement as at 30 September 2022
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. An entry in the credit column of the bank reconciliation statement must be indicated by using a negative sign in front of the
amount (eg: -1000.01)
4. An entry in the debit column of the bank reconciliation statement must be indicated by the amount without any sign (eg: 1000.01)
Agripa Superstore
Cash receipts journal – September 2022
R
30 Subtotal
91455
Fleetrisk Insurance 8722
Mrs South 1290
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, 5/23/24, 5:32 AM Assessment 4: Attempt review
101467
Cash payments journal – September 2022
R
30 Subtotal
72481
Bank charges 1035
SA Adds 830
Credit sales (incorrect entry) 15999
90345
Dr Bank B1 Cr
2022 R 2022 R
Sept 1 Balance b/d Sept 1 Balance b/d
0 3867
30 30
Total receipts CRJ 101467 Total payments CPJ 90345
Balance c/d Balance c/d
0 7255
101467 101467
Oct 1 Balance b/d Oct 1 Balance b/d
7255 0
Bank reconciliation statement as at 30 September 2022 Debit/Credit
R
Balance per bank account
7255
Outstanding deposits -20575
Outstanding payments
2340
Correction of errors -6200
Balance per bank statement 17180
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