Question

All answers are numbers which consist only of the digits 0 to 9. Symbols or punctuation marks should NOT be incorporated in answers.

Every cell must be completed.

Complete the following bank reconciliation and one journal entry to take up all relevant adjustments.

The bank statement balance as at 31 May 2016 is $60,000 Cr.

The Cash at Bank account in the General Ledger for Beta Technologies has a debit balance of $64,000 as at 31 May 2016.

The bank statement has an EFT receipt from a client on account of $1,500 and bank fees of $500 on 31/05/16 that do not appear in Beta's records.

Cheque Number 0615 for $2,000 was in the Cash Payments Journal but not on the bank statement.

There was a deposit in the Cash Receipts Journal for $7,000 on 31/05/16 that did not appear on the bank statement.

Bank Reconciliation

Bank Balance as at 31 May 2016			Answer
Subtract:	Answer Outstanding Cheques or Deposits in Transit or Bank Fees or EFT Receipts
	Detail: Answer Chq 0615 or Deposit 31/5/16		Answer
Add:	Answer Deposits in Transit or Bank Fees or Outstanding Cheques
	Detail: Answer Chq 0615 or Deposit 31/5/16		Answer
Adjusted Bank Balance			Answer
Cash At Bank account balance			Answer
Add:	Answer EFT Receipts or Outstanding Cheques or Deposits in Transit		Answer
Subtract:	Answer Bank Fees or Interest Earned or EFT Receipts		Answer
Adjusted Cash Book Balance			Answer

Journal

			Dr	Cr
31/05/16	Answer Cash At Bank or Interest Earned or Accounts Receivable		Answer
	Answer Bank Fees or Rent Expense or Accounts Receivable		Answer
		Answer Accounts Receivable or Bank Fees or Cash At Bank		Answer

Answer 1