Question

问题1（20分）

以下信息可用于调节Forerunner Sdn Bhd的账面现金余额与截至2019年12月31日的银行对账单余额。

1. 根据会计记录，12月31日的现金余额为63,487.40令吉，该日期的银行对账单余额为90,183.60令吉。
2. Check No. 2546 for RM2,168.40 and Check No. 2550 for RM780, both written and entered in the accounting records in December, are not among the cleared cheques. Two cheques, No. 2510 for RM4,578 and No. 2499 for RM741, were outstanding on the most recent 30 November 2019 reconciliation. Check No. 2510 is listed with the December cleared cheques, but Check No. 2499 is not.
3. When the December cheques are compared with entries in the accounting records, it is found that Check No. 2567 had been correctly drawn for RM4,870 to pay for office supplies but was erroneously entered in the accounting records as RM4,906.
4. Two debit memoranda are enclosed with the statement and are unrecorded at the time of the reconciliation. One debit memorandum is for RM1,499 and dealt with as an NSF check for RM1,464 received from a customer, Fire Industries, in payment of its account. The bank assessed a RM35 fee for processing it. The second debit memorandum is a RM158 charge for cheque printing. Forerunner did not record these transactions before receiving the statement.
5. A credit memorandum indicates that the bank collected RM40,000 cash on a note receivable for the company, deducted a RM40 collection fee, and credited the balance to the Company’s Cash account. Forerunner did not record this transaction before receiving the statement.
6. Forerunner’s 31 December daily cash receipts of RM15,332.20 were placed in the bank’s night depository on that date, but do not appear on December 31 bank statement.

Required:

1. Prepare a bank reconciliation to calculate the company’s adjusted cash balance at 31, December 2019.                             

2. Prepare adjusting entries as at 31 December 2019 (narration is to be ignored)

Answer 1

Bank Reconciliation

	(RM)		(RM)
Cash as per Bank Statement	90,183.60	Cash as per Books	63,487.40
Outstanding Checks:		NSF Check	(1,464.00)
2546	(2,168.40)	NSF Check fee	(35.00)
2550	(780.00)	Check Printing charge	(158.00)
2499	(741.00)	Bank Collection fee	(40.00)
Deposits in Transit	15,332.20	Error in recording Office Supplies	36.00
		Notes Receivable	40,000.00
Adjusted Bank Balance	101,826.40	Adjusted Cash Balance	101,826.40

JOURNAL

Date	General Journal	Debit	Credit
2019
Dec 31	Accounts Receivables	1,499
	Cash		1,499
31	Check Printing charge	158
	Cash		158
31	Cash	39,960
	Bank Collection fee	40
	Notes Receivables		40,000
31	Cash	36
	Office Supplies		36