Transport. 60000 Containers 200 000 VAT 19.25%, 50.050 Net Payable. 7560 450 ii, Journal entries 6011 6057 6015 4452 4454 4094 3 ait 673 031 At BABIAKA CORPORATION ( Customer) 03/04/13. Purchases of goods within the region Purchase of research works and services rendered Purchase expenses State, VAT recover .bie State, VAT recovers! mn purchases # extemal sorvices | Suppliers, deposit on returante roveanmers aon | Supplier mm | Cash disconant received Being credit psc! Stock of yrs 6031 Variation of stor bof ance Being entry ot shock ints the wareluiuse AT ABOREKYBIA COMPANY (Supplicr) r . 030453 ~ Customers Cash discount 7011 Sales of g 7061 Sales of services within the region 707 ‘Accessory revenues 4431 4432 4194 Customer, debt for deposit on cont Being credit sales of goods ? Variation of stock of goods au Stock of goods (0.75 * 400 000) Being exit of stock from the warehouse 400 000 6 000 000 60.000 1170400 50.050 200.000 460 000 7560-450 320 000 300.000 7560 450 320 000 460 000 400 000 6 000 000 60 000 1170 400, 50.050 200.000 300 000GENERAL (FINANCIAL) ACCOUNTING- TET 9 i QUESTION 1: i The Bank Reconciliation Statement Description Enterprise Account _ ank Account BAL need Cree 667 358 346441 | ' 5000 a | Cheque n 164 382 Cheque no. 35 | 90.000 | Agio on bill c ed | 1200 eee Oonbill discounted [4 600 os jl 23 504 | ” | | 382 000 [9830 azReconciled balances CP 388 212 388212 ia TOTAL 790 862 __| 790862] 510823, | 510 823 Wie balances to be reconciled (opening balances) were obtained by looking for te Miferences befvicen the totdl debits and total credits of the enterprise and bank statement aecounts respectively ti, Corresponding adjustment entries 30/09/12 Sar Local bank 123.504 | ai Customer 123 504 According to reconciliation statement debit as d 631 bank charges (5 000 +9 830) | 14930 | 675 Discounting of bills of exchange (1220 +4 600) | 5 820 | 40i1 Suppliers 82.000 521 Local bank 402 750, ees gto reec net red | QUESTION 2. Good VAT on Goods 19.2 Commission ex Transport exper Insuranc ' VAT: 19.2 d Containers. VAT on containers 1 19.250 NetPayable........ 6219075 Journal entries | 1 03/071 | | 601 Purchases of goods within the region 5 000 000) | 6015 Purchase expense 120000 | 4452 State, VAT recoverable on purchases } 962500 4454 | State, VAT recoverable on external service 36.575 | 1094 | Suppliers, deposit on retumable containers 100.000 | 4011 Suppliers 6219075) Bee crcl arches of ode b) Goods 400.000 Services. 6.000.000 6 400.000 (320.000) 6.080.000 1170400 Gross amount e332 Cash discount 5%, Financial net VAT 19.25%,