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Creditors Reconciliation Question Suggested Solution

The memo summarizes the creditors ledger of Ace Motor Spares as of June 30, 2022. It shows a beginning balance of R24,020, a credit of R290 for an overpayment, invoices of R600 and R2,100, leaving an ending balance of R21,610.

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Shweta Singh
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643 views

Creditors Reconciliation Question Suggested Solution

The memo summarizes the creditors ledger of Ace Motor Spares as of June 30, 2022. It shows a beginning balance of R24,020, a credit of R290 for an overpayment, invoices of R600 and R2,100, leaving an ending balance of R21,610.

Uploaded by

Shweta Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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3

MEMO
CREDITORS LEDGER OF ACE MOTOR
SPARES
ALLBRAKES CC

Date Details Fol Debit - Credit + Balance


2022
June 30 Balance b/d 24 020
Credit note 25- difference (580- CAJ 290 24 310
290)
Invoice XS194 CJ 600 23 710

Invoice XBB501- recorded in CJ 2100 21 610


incorrect creditors account

SUGGESTED FORMAT
ACE MOTOR SPARES
Creditors Reconciliation Statement of Ace Motor Spares on 30 June 2022

R
Debit balance as per Creditors Statement on 59 710
28 June 2022
Less Difference in payment- error (13800- (800)
13000)
Less Discount not accounted for JV100 (300)

Less Invoice XS201- goods not (14 000)


received by 30 June 2022
Less Payment not recorded- EFTCS (22 540)
115
Less Journal voucher JV110 not recorded (460)

Credit balance as per Creditors ledger account 21 610


ALTERNATIVE FORMAT 4
ACE MOTOR SPARES
Creditors Reconciliation Statement of Ace Motor Spares on 30 June 2022

Debit + Credit -
Debit balance as per Creditors Statement on 59 710
28 June 2022
Credit incorrect amount on Receipt 55 800
(13800-13000)
Credit Discount not on statement 300

Credit invoice XS201-goods not yet by 14 000


30 June 2022
Payment not on statement- EFTCS 115 22 540
Journal voucher JV110 not on statement 460

21 610
Credit balance as per Creditors ledger account

59 710 59 710

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