Question
DROP OUT STORES BANK RECONCILIATION STATEMENT AT 30 APRIL 2007 Cr. Balance per bank statement R1324...
DROP OUT STORES BANK RECONCILIATION STATEMENT AT 30 APRIL 2007
Cr. Balance per bank statement R1324 Add: outstanding deposit R180 = R1 504
Less: outstanding Cheques: No. 361- R 84/ Chq366-R265/ Chq367-R80/ Chq368 - R50/ Chq370- R35
Dr. balance per cash book Balances at 31 May 2007: bank statement (favourable) R324. Cash book (dr. )R384
Items on May bank statement, but not in May cash book:
1. Deposit: R180
2. Telegraphic transfer on 20 May by debtor, W. Pay, to settle
rent for building, R205.
3. Cheques no: 361 - R48 / Chq no : 367-R80 Chq 724: R16.
4. Bank charges, R14
. Interest on overdraft, R10.
5. Cheque from D. Hans (a debtor) dishonoured, R125.
Items in May cash book, but not on May bank statement:
1. Deposit R560
2. Cheque no. 401-R30. Chq 403-R45
The following became apparent from answers to queries:
1. Cheque no. 361 was issued for wages and the correct amount is R48.
2. Cheque no. 368 was issued to a debtor who had duplicated his payment. The debtor returned the Cheque and requested that the overpayment be held against his June account. 3. Cheque no. 366 was issued to pay a creditor, Fox Ltd. It was lost in the post and a new Cheque, no. 372, was issued and again debited to Fox Ltd.
4. Cheque no. 724 was drawn by Drop Inn Store.
REQUIRED:
The bank will make a correction in June. Required (a) Draw up the bank reconciliation statement at 31 May 2007, and (b) Complete the cash book.
Homework Answers
Answer #1
HOPE THIS ANSWER IS USEFUL. PLEASE LIKE THE
ANSWER
Not the answer you're looking for?
Similar Questions
The following information is for SeaTrans Ltd. in April: Cash balance per bank, April 30, $14,606.73...
The following information is for
SeaTrans Ltd. in April:
Cash balance per bank, April 30, $14,606.73
Cash balance per book, April 30, $4,387.55
Outstanding cheques, $5,904.00
Deposit in transit, $2,201.40
Bank service charge and debit/credit card fees, $165.00
Electronic receipts from customers in payment of the amount $
6,787.18, not previously received by the company
Return from bank two NSF cheques including service charges,
465.60
Cheque # 459 was correctly written in the amount of $3,260.00
but was incorrectly written...
The following information is for SeaTrans Ltd. in April: 1. Cash balance per bank, April 30,...
The following information is for SeaTrans Ltd. in April:
1. Cash balance per bank, April 30, $14,606.73
2. Cash balance per book, April 30, $4,387.55
3. Outstanding cheques, $5,904.00
4. Deposit in transit, $2,201.40
5. Bank service charge and debit/credit card fees,
$165.00
6. Electronic receipts from customers in payment of the amount
$ 6,787.18, not previously received by the company
7. Return from bank two NSF cheques including service charges,
465.60
8. Cheque # 459 was correctly written in...
to Prepare Keeper Ltd’s bank reconciliation, you gather the following data: The 30 September bank statement...
to Prepare Keeper Ltd’s bank reconciliation, you gather
the following data:
The 30 September bank statement balance is $5,120
CR.
The bank statement included a dishonoured cheque from a
customer of $180.
The following cheques are outstanding at 30 September:
Cheque no.
Amount ($)
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...
Question Two c) BSD Ltd has prepared its October 2018 bank reconciliation for auditors to review....
Question Two c) BSD Ltd has prepared its October 2018 bank
reconciliation for auditors to review. As at 31 October 2018 the
ledger balance was GH¢ 2,450 (Credit) but the bank statement showed
that the company has funds amounting to GH¢3,743. The following are
useful information: The company arranged for the bank to transfer
the dollar equivalent of GH¢ 500,000 to a supplier in the United
States. Charges on the transfer of 0.5% have not been recorded in
the books...
Lazer Company had the following bank reconciliation on June 30: Balance per bank statement, June 30
Lazer Company had the following bank reconciliation on June
30:
Balance per bank statement, June
30
3,000,000
Deposit in
transit
400,000
Total
3,400,000
Outstanding
checks
(900,000)
Balance per book, June
30
2,500,000
The bank statement for the month of July showed the
following:
Deposits, including P200, 000 note collected for
Lazer
9,000,000
Disbursements, including P140, 000 NSF customer check
and P10,000 service
charge
7,000,000
All reconciling items on June 30 cleared through the bank in
July. The...
Broadway Enterprises has received its bank statement as at March 31, 2019 which showed a balance...
Broadway Enterprises has received its bank statement as at March
31, 2019 which showed a balance of $15,180. Meanwhile its Cash book
balance at March 31, 2019 stood $8,140. In addition, the Accountant
of Broadway Enterprises was presented with the following
information: 1. Bank charges for the month were shown as $250 as
per bank statement. 2. Cheques issued to two creditors-Alloy
Limited for $900 (cheque #253) and Ben Lion for $270 (cheque #258)
were not presented to the bank...
On October 31, 2021, Oriole Company had a cash balance per books of $8,967. The bank...
On October 31, 2021, Oriole Company had a cash balance per books
of $8,967. The bank statement on that date showed a balance of
$10,165. A comparison of the statement with the Cash account
revealed the following:
1.
The statement included debit memos of $45 for the printing of
additional company cheques and $40 for bank service charges.
2.
Cash sales of $528 on October 12 were deposited in the bank.
The journal entry to record the cash receipt and...
On October 31, 2021, Oriole Company had a cash balance per books of $8,967. The bank...
On October 31, 2021, Oriole Company had a cash balance per books
of $8,967. The bank statement on that date showed a balance of
$10,165. A comparison of the statement with the Cash account
revealed the following: 1. The statement included debit memos of
$45 for the printing of additional company cheques and $40 for bank
service charges. 2. Cash sales of $528 on October 12 were deposited
in the bank. The journal entry to record the cash receipt and...
The owner of Jack’s Garden Supplies has completed a bank reconciliation and cannot get the bank’s...
The owner of Jack’s Garden Supplies has completed a bank
reconciliation and cannot get the bank’s records to agree with the
cash records of his business. He concludes that internal control
has somehow failed and cash is being misappropriated. He asks you
to check the records and confirm or otherwise his suspicions. He
supplies the reconciliation statement at the end of last month, his
cash records, and the most recent bank statement.
Last month’s reconciliation statement is presented below.
Jack’s...
Seattle Coffee Limited's bank statement for the month of November 2018 showed a balance per bank...
Seattle Coffee Limited's bank statement for the month of
November 2018 showed a balance per bank of $7,000. The company's
general ledger Cash account showed a balance of $5,659 at November
30. Other information is as follows:
1. Cash receipts
for November 30 recorded on the company's books were $5,200, but
this amount does not appear on the bank statement.
2. The bank
statement shows a debit memorandum for $40 for cheque printing
charges.
3. Cheque #119
payable in the...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 2 minutes ago
asked 2 minutes ago
asked 2 minutes ago
asked 2 minutes ago
asked 2 minutes ago
asked 2 minutes ago
asked 3 minutes ago
asked 7 minutes ago
asked 25 minutes ago
asked 35 minutes ago
asked 35 minutes ago
asked 40 minutes ago