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Tuma Ltd, is a trading company. You are required to give the answer with detail explanation for the following issues in Tuma Ltd for the accounting period end at 31.12.20X1: 2.1. The following information relates to a bank reconciliation of Tuma Ltd (i) The bank balance in the cashbook before taking the items below into account was $6,804 overdrawn. (11) Bank charges of $120 on the bank statement have not been entered in the cashbook. (iii) The bank has credited the account in error with $540 which belongs to another customer. (iv) Cheque payments totalling $3,930 have been entered in the cashbook but have not been presented for payment. (v) Cheques totalling $2,160 have been correctly entered on the debit side of the cashbook but have not been paid in at the bank. What was the balance as shown by the bank statement before taking the above items into account? 2.2. The petty cash balance at 31 December 20X1 was $30. The following transactions occurred during December 20X1: (1) Refreshments were purchased at a cost of $8.7 (2) Travel expenses of $15.3 were reimbursed to an einployee. (3) The cleaner was paid $18. What was the petty cash float at 1 December 20X1? 2.3. At 1 January 20X1 the receivables allowance of Tuma Ltd was $21,600. During the year ended 31 December 20x1 debts totalling $17.400 were written off. It was decided that the receivables allowance should be $31,200 as at 31 December 20X1. What amount should appear in Tuma Ltd's statement of profit or loss for receivables expense for the year ended 31 December 20X1? 2.4. The closing inventory at cost of a company at 31 December 20X1 amounted to $280,000. The following items were included al cost in the total: 400 shoes, which had cost $80 each and normally sold for $100 each. Owing to a defect in manufacture, they were all sold after the reporting date at 50% of their normal price. 800 bags, which had cost $20 each. These too were found to be defective. Remedial work in January 20X2 cost $5 per bags. They were sold for $28 each. What should the inventory value be according to IAS 2 Inventories after considering the above items? 2.5. Tuma Ltd acquired a lorry on 1 July 20X1 at a cost of $111,600. The lorry has an estimated useful life of five years, and an estimated resale value at the end of that time of $9.600. B charges depreciation on the straight line basis, with a proportionate charge in the period of acquisition. What will the depreciation charge for the lorry be in B's accounting period to 31 December 20X1

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