Directorate: Curriculum FET

Grade 11 ACCOUNTING Term 1: Week 2

Solution

Topic: Creditors Reconciliation

ACTIVITY 1: Solution
Creditors Reconciliation Statement – 31 January 2021

Creditors Statement of
Ledger account
Balance 17 890 12 560
Invoice no. 372 incorrectly recorded on statement (7 280 – 6 920) + 360
Invoice no. 376 incorrectly recorded (4 240)
Invoice no. 395 incorrectly recorded - 5 830
Discount not recorded on statement (240)
Invoice no 401 not on ledger + 2 500
Invoice no 406 not on statement + 9 580
Payment not on statement (3 460)
Balance 14 560 14 560

(The alternative one column method. Indicate negative amounts in brackets)

Creditors Reconciliation Statement – 31 January 2021

Balance as per Creditor’s Statement 12 560

Invoice no. 372 incorrectly recorded on statement (7 280 – 6 920) 360
Invoice no. 376 incorrectly recorded (4 240)
Discount not recorded on statement (240)
Invoice no 406 not on statement 9 580
Payment not on statement (3 460)
Balance as per corrected Creditors Control accout 14 560