21 2021

Student No. 21996749

Bcom 1
Accounting 1B

Q1 Q2 Q3 TOTAL %

ASSESSMENT TYPE: ANSWER BOOK

TOTAL MARK ALLOCATION: 100 MARKS
TOTAL HOURS: 10 HOURS
STUDENT NUMBER:
LECTURER’S NAME:
DATE:
By submitting this assignment, you acknowledge that you have read and understood all the rules
as per the terms  in the registration contract, in particular the assignment and assessment rules in
The IIE Assessment Strategy and Policy (IIE009), the intellectual integrity and plagiarism rules in
the Intellectual Integrity Policy (IIE023), as well as any rules and regulations published in the
student portal.

INSTRUCTIONS:

1. No material may be copied from original sources, even if referenced correctly, unless it is a
direct quote indicated with quotation marks. No more than 10% of the assignment may
consist of direct quotes.  
2. Make a copy of your assignment before handing it in.
3. All work must be adequately and correctly referenced.
4. Begin each section on a new page.
5. Follow all instructions on the assignment cover sheet.
6. This is an individual assignment.
Additional instructions:
1. Calculators are allowed.
2. Answer All Questions.
3. Show all calculations, where applicable (marks may be awarded for this).

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Question 1 (Marks: 40)

Q.1.1 (6)
Adjusting differences happen when the business is not aware of a transaction
recorded by the bank. Hence why when comparing the bank statement to the
business journals you would come across unreconciled credits. For example,
Interest, Direct deposits
Timing differences involve transactions that have been recorded in the cash
book payments journal but because of timing differences, are yet to appear on
the bank’s statement.

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Q.1.2 Subsidiary Cashbook Receipts (15½)

DETAILS AMOUNT

Total before adjustments 8500

Adjustments: 2220
Cheque 2712 cancelation

Cheque 2712 overstated 900

Interest Income 480

Total receipts after 12100

adjustments

Subsidiary Cashbook Payments

DETAILS AMOUNT

Total before adjustments 4500

Adjustments: 8500
Deposit outstanding

Stop order 1800

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Bank charges 530

Cheque R/D 2355

Total payments after 17685

adjustments

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Q.1.3 (6)
BANK B5

DATE DETAILS FOL AMOUNT DATE DETAILS FOL AMOUNT

1 May 2021 Balance B/D 36500 31 May Total payments CBP 17685

31 May Total receipts CBR 12100 Balance c/d 30915

46800

1 June 2021 Balance b/d 30915

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Q.1.4 Bank Reconciliation Statement of Zebra Traders for May 2021 (8½)

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DETAILS AMOUNT
Balance per bank statement 20815

Outstanding Deposits 17300

18400

Outstanding Cheque no. 2785 (6500)

No. 2805 (7770)

No. 2691 (11330)

30915
Balance as per Bank Account

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Q.1.5 PROBLEM ADVICE (4)

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PROBLEM ADVICE

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Question 2 (Marks: 50)

Q.2.1 (17)

      Debtors control  B11 

DR CR

Date Details Fol. Amount Date Details Fol. Amount

1 Feb 2021 Balance b/d 54300 28 Feb Settlement payments CBR 38946

28 Feb Total debtors DJ 62612 Discounts on payments GJ 1629

28 Feb Cheque L.Simpson R/D GJ 6300 Credit returns DAJ 8855

Bad Debts GJ 26450

Balance c/d 47332

213212 123212
1 Mar
Balance b/d 47332
2021

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Q.2.2 (20
)
DEBTORS LEDGER OF TOWEL TALK – FEBRUARY 2021
L.SIMPSON (D1)

DATE DOCUMENT NAME AND FOL DEBIT CREDIT BALANCE

NUMBER

1 Feb Balance b/d 12000

2021

12 INV205 2875 14875

Feb

13 CN46 575 14300

Feb

14 DR28 8000 6300

Feb

24 INV208 5175 11475

FEB

25 CN48 5175 6300

Feb

26 DR30 5985 315

Feb

26 JV26 315 0
Feb

28 Cheque no DR30 R/D 6300 6300

Feb

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Q.2.3 (13
)
DEBTORS LIST OF TOWEL TALK AS AT 28 FEBRUARY 2021

DEBTOR FOL AMOUNT

D1 6300
L. Simpson

D2 31103
Marvel Ltd (13900 + 17250 – 2875 + 2828)

D3 10463
R. Green (9600 + 1093 -230)

D4 26450

Home Centre Ltd

(2300 + 24150)

D. Patel D5 3614
(16500 + 9775 + 2300 – 24961)

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Balance

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Question 3 (Marks: 10)

Q.3.1 (10)
General ledger
CREDITORS CONTROL B5
DATE DETAILS FOL AMOUNT DATE DETAILS FOL AMOUNT
30 June Sundry returns (2800 + 90) CAJ 2890 1 June 2021 Balance b/d 55130

Bank (24000 + 1080) CBP 25080 30 June Sundry purchases CJ 14160

30 June (13000 – 600 + 2160 –
400)
Settlement discount GJ 250
received
Balance c/d 41570

69540 69540

1 Jul 2021 Balance b/d 41570

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Workings page

END OF ANSWER BOOKLET

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