Question

to Prepare Keeper Ltd’s bank reconciliation, you gather the following data:

1. The 30 September bank statement balance is $5,120 CR.
2. The bank statement included a dishonoured cheque from a customer of $180.
3. The following cheques are outstanding at 30 September:

Cheque no.	Amount ($)
918	3,450
922	270

iv.          The following amounts were included on the bank statement:

•    a $3,200 EFT deposit from an account customer

•    $350 for interest revenue that Keeper hadn’t recorded

•    a $40 bank service charge.

v. On 30 September 2020, Keeper deposited $1,500 in the bank’s night safe, but this deposit doesn’t appear on the bank statement.

vi. The bank statement includes a $200 payment belonging to Seeker Ltd, an unrelated company. This is a bank error

vii. The general ledger Cash account had a balance of $230 CR on 30 September 2020.

Required:

(a)            Prepare a Bank Reconciliation Statement at 30 September. (4  marks)

(b)       Show workings summarising the adjustments required to give the correct balance in the Cash at Bank general ledger account at 30 September. (4  marks)

Answer 1