Question No.2, Bank Reconciliation Statement Following items will be added in Balance as per passbook
Cheque deposited but not credited, Because this is not added to the passbook balance but included in cash book.
Cheque deposit instead of payment, reason being it was intended to be added to the account but mistakenly it has been treated as payment.
Amount Entered twice in cash book, now to keep the pass book balance at the same level , we will add the same amount in the bank book.
Receipt column overcast
Following items will be deducted from pass book balance
Cheque issued but not presented for payment on the bank counter
Cheque drawn incorrectly entered
Question No.3 Rectification of Errors
Question No.4 Rashid Trading and Profit and Loss Account
Question No.5 Single Entry Accounts, Missing Information To Solve the Question on Single Entry Accounts, Following Accounts are required to be prepared
Total Debtors Account
Total Creditors Account
Trading and Profit and Loss Account
Question No.6 Worksheet
An accounting worksheet, is an informal document,not intended for outsiders, is large table of data which may be provided as an optional intermediate step in an accounting process. Work sheet can easily reveal any mathematical error.
A worksheet consists of a column on the left side showing main account titles and 10 more columns of debits and credits. Work sheets are used to close the balance of various accounts at the end of the period. It represents the balancing figures of several accounts along with adjustments made in these accounts, Financial statements can be prepared by the support of work sheets.
Question No.7 Partners Capital Accounts Adjustment, Bilal, shahid, sarmad. Provide Journal Entry For Reserve for debtors, Depreciation of Furniture, Reduction in stock and investment Prepare revaluation account, calculate for partners capital accounts cash adjustments.
Question No.8 Depreciation Methods Straight line,declining balance, sum of years digit