2020 JYSS 3N POA EOY P2 Q4

4 Fatin is a grocery distributor. The following transactions took place in the month of May 2020.


May 1

Capital balance               $49 000 Cr


Cash at bank balance     $  3 000 Dr


Fatin sold her personal laptop and deposited $4000 into the business’ bank account.


Paid $500 by cheque for utilities.


Cash sales of $8 000 to a customer Max. The money was deposited into the bank account.


Withdrew $9 000 from the bank for office use.


Withdrew $6 000 from the bank for personal use.


Fatin made a profit of $20 000 for the year ended 31 May 2020.


a. Post the relevant transactions related to the following ledger accounts. Bring down the balances to the following month.


i. Cash at bank account

ii. Capital account

b. What do you understand when the cash at bank account has a credit balance? In which section of the financial statement will it be shown?


[TOTAL 10]

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