adjusted cash at bank account and bank reconciliation 12 Rejected cheque from 3 Sep13 Cash14 Credit transfer: Mei Ling15 Cheque no: 100420 Standing order: Insurance26 Cheque no: 10052 5005401 6003 200180017004 300 DR7 500 CR9 300 CR8 760CRCRCR7 1608860bank account on Faith's cash at bank account for the month of September 2021 was shown below:Cash at bank accountDate2021Sep 138ParticularsBalance b/dChristine Holdings (Cheque no: 1002)Salaries (Cheque no: 1003)11 Sales revenue2021Sep 12Sinna (Cheque no: 1004)Date ParticularsBalance b/dCheque no: 10016Cheque no: 100210 Cheque no: 1003Debit($)Bank statement2 5003 2001315 Cody Trading21 Ning Enterprise25 High Deluxe (Cheque no: 1005)Faith received the following bank statement for the month of September 2021.8001 200Withdrawal($)Credit($)2 7002 700[18:18)5402 650Balance ($)Deposit ($)7 000 DR9 500 DR6 800 DR10 000 DR9 460 DR6 810 DR7 610 DR8 810 DR1 0002 500Balance ($)6 000 CR7 000 CR9 500 CR6 800 CR

Adjusted cash balance is the balance which as the name states has been adjusted so that the balance…

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Business

Accounting

adjusted cash at bank account and bank reconciliation

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following information is produced by comparing the cash deposits and withdrawals recorded bythe S&W Windows Ltd for the month with their most recent bank statement received at 30 June2019:a. S&W Windows Ltd’ cash at bank ledger at 30 June 2019 is: $75,864b. Credit balance as per bank statement as at 30 June 2019 is: $101,160c. Bank statement shows an electronic transfer from a customer of $3,864d. Deposits in transit, $12,540e. Interest earned on bank account, $75f. Unpresented cheques, $37,407g. Service charge included in bank statement, $150h. Cheque for insurance expense, $5,370 incorrectly recorded in books as $5,910i. A dishonoured cheque written by a client Jim Smith, $3,900The entity doesn’t use special journals for record keeping. The entity prepares bank reconciliationstatement at the end of each month.Required:a) Prepare a bank reconciliation statement for S&W Windows Ltd at 30 June 2019. b) Discuss why a bank reconciliation is still necessary even most of the…
Ablema has provided you with the following bank statement and bank account details in respect of the month ended 31 January 2018. Statement date - 31 January, 2018. Account No 1452800 Date Particulars Debit Credit Balance GH¢ GH¢ GH¢ 01-Jan-18 Balance forward 67,580 Cr 06-Jan-18 Cheque 597 120 67,460 Cr 06-Jan-18 Direct debit 2,020 65,440 Cr 12-Jan-18 Credit transfer 4,660 70,100 Cr 13-Jan-18 Cheque 600 1,420 68,680 Cr 14-Jan-18 Cheque 601 12,028 56,652 Cr 16-Jan-18 Lodgement 9,000 65,652 Cr 19-Jan-18 Cheque 599 18,004 47,648 Cr 23-Jan-18 Bank charges for December 2017 422 47,226 Cr 25-Jan-18 Quarterly interest received 62 47,288 Cr 27-Jan-18 Dishonoured cheque 1,600 45,688 Cr 27-Jan-18 Cheque 598 26,090 19,598 Cr 30-Jan-18 Cheque 603 5,048 14,550 Cr 31-Jan-18 Lodgement 14,500 29,050 Cr 31-Jan-18 Standing order: rent first quarter 2018 27,000 2,050 Cr The books and records of Ablema show the followings transactions through the bank account for the month of January 2018: Date Receipts…
The following information is produced by comparing the cash deposits and withdrawals recorded by the M&N Windows Ltd for the month with their most recent bank statement received at 30 June 2019:a. M&N Windows Ltd’ cash at bank ledger at 30 June 2019 is: $75,864b. Credit balance as per bank statement as at 30 June 2019 is: $101,160c. Bank statement shows an electronic transfer from a customer of $3,864d. Deposits in transit, $12,540e. Interest earned on bank account, $75f. Unpresented cheques, $37,407g. Service charge included in bank statement, $150h. Cheque for insurance expense, $5,370 incorrectly recorded in books as $5,910i. A dishonoured cheque written by a client Jim Smith, $3,900The entity doesn’t use special journals for record keeping. The entity prepares bank reconciliation statement at the end of each month.Required:a) Prepare a bank reconciliation statement for M&N Windows Ltd at 30 June 2019. b) Discuss why a bank reconciliation is still necessary even most of…
he following information is produced by comparing the cash deposits and withdrawals recorded by the M&N Windows Ltd for the month with their most recent bank statement received at 30 June 2019: a. M&N Windows Ltd’ cash at bank ledger at 30 June 2019 is: $75,864 b. Credit balance as per bank statement as at 30 June 2019 is: $101,160 c. Bank statement shows an electronic transfer from a customer of $3,864 d. Deposits in transit, $12,540 e. Interest earned on bank account, $75 f. Unpresented cheques, $37,407 g. Service charge included in bank statement, $150 h. Cheque for insurance expense, $5,370 incorrectly recorded in books as $5,910 i. A dishonoured cheque written by a client Jim Smith, $3,900 The entity doesn’t use special journals for record keeping. The entity prepares bank reconciliation statement at the end of each month. Required: a) Prepare a bank reconciliation statement for M&N Windows Ltd at 30 June 2019. b) Discuss why a bank reconciliation is still necessary…
Jessie has a cash account per general ledger that shows a balance of $78,659 atOctober 31, 2021. Bank statement from Ocean Paradise Bank on that dateshows the following date shows the following balance. 31 October Amount $88,080 Comparison of checking account details with cash account details reveals factsas follows.1. A note receivable of $13,070 was invoiced by the bank for Jessie on the 14thOctober plus $713 interest and the bank has charged $137 on the billing. No interest has been recognized on these notes.2. Check No. 175 the amount of $5,741 was entered in the cash journal as $5,471and Check No. 189 of $2,040 was entered in the cash journal as$2,400. Both checks have been issued to pay for the purchase of supplies.3. The bank has charged Jessie account. for customer unbilled checks amounting to $789 on October 23. 4. Deposit in progress is $7,388 and outstanding check no. 123 on October 28totaling $5,309.5. There was a canceled check issued by Kenny to Leo for $2,079 that was…
On 14 December 2021, Catz Zone Enterprise received the monthly bank statement for the month of November 2021. The bank statement showed the following information: Union Bank Berhad DateDescription Payments (RM) Receipts (RM) Balance (RM) 1 NovBalance b/d 21,000 3 314566 500 20,500 4 Cheque Deposit- 203201 22,150 21,500 1,650 6. 314567 650 8. 314568 710 20,790 Cheque Deposit - 432512 314569 9. 1,080 19,710 15 800 18,910 19,710 20,210 16 Cheque Deposit - 113998 800 20 Credit Transfer 500 23 Direct Debit 300 19,910 19,610 19,951 24 314570 300 Cheque Deposit - 145321 Bank Charges 26 341 100 19,851 28 The cash records prepared by Catz Zone Enterprise for the month of November 2021 were as follows: Cásh Receipts Journal (Bank column only) Cheque no. Amount (RM) Date Particulars 203201 1,650 3 Nov Sales 432512 1,800 8. Mariam 754654 1,000 13 Andy 113998 800 15 Svera
The following are the cash book and bank statement of DRS Enterprise for the month ofDecember 2020: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 1 Balance b/d 460 3 Cash 2,600 8 Lim 1,600 14 Mat 1,816 18 Jay and Kay 900 24 Bidin 1,120 31 Balance c/d 544 9,040 Dec 4 Cheque no. 40010 Ruby 2,000 6 Cheque no. 40011 Zain 1,700 8 Cheque no. 40012 Harris 680 10 Cheque no. 40013 Wong 760 15 Cheque no. 40014 Daud 1,600 21 Cheque no. 40015 Lim 2,300 9,040 Jan 1 Balance b/d 544 Bank Statement Date Cheque Transaction Debit Credit Balance No. Code Dec 1 Balance b/f 460 Credit 3 CH 2,600 3,860 Credit 6 SO 1,060 2,800 Credit 8 40010 2,000 800 Credit 9 CQ 1,600 2,400 Credit 11 40013 760 1,640 Credit 12 40011 1,700 60 Debit 14 CT 2,400 2,340 Credit 18 CT 1,900 4,240 Credit 19 CQ 1,805 6,045 Credit 20 SO 2,700 3,345 Credit 23 CB 8 3,337 Credit 27 40016 1,200 2,137 Credit 29 40015 2,300 163 Debit 31 BC 68 1,031 Debit Transaction…
Suraya Enterprise has a current Bank Kasih Berhad account with Bank Kasih Berhad. Below Bank Statement are the transactions of cash book and Date Details Debit Credit Balance 2021 RM RM RM April bank statement for the month of April Opening balance Cheque - 123123 Deposit Cheque-123125 Cheque-123126 4.550 2021: 850 7,700 2,500 10,200 10 450 9,750 16 500 9,250 Cash Bouk (Bank Column Only) 18 Credit transfer 300 550 Particular Cheque No. Date RM Date Particular Cheque No. RM 9.250 8350 20 Cheque-123127 300 2021 2021 25 Cheque-123128 900 April 1 Balance b/d 3 Hake Trading 8,550 April 2 Prchases 6 Izzat Trading 123123 850 28 Bark charges 80 4.20 2,500 30 Closing balance 123124 500 8,270 12 Joyne 556679 1,660 10 Mamat 123125 450 15 Suhaimi 123126 500 18 Purchases 123127 300 25 Rental 28 Salary 18 Sales 799 123128 960 Additonal Informaton: 123129 2,200 29 Zulaika 1 On 15 April 2021, the accourtant derk wrongly recorded the cheque no. 123126 paid 123130 110 30 Balance c/d 8,639 to Suhaimi for…
The following are the cash book and bank statement of DRS Enterprise for the month of December 2020: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 1 Balance b/d 460 Dec 4 Cheque no. 40010 Ruby 2,000 3 Cash 2,600 6 Cheque no. 40011 Zain 1,700 8 Lim 1,600 8 Cheque no. 40012 Harris 680 14 Mat 1,816 10 Cheque no. 40013 Wong 760 18 Jay and Kay 900 15 Cheque no. 40014 Daud 1,600 24 Bidin 1,120 21 Cheque no. 40015 Lim 2,300 31 Balance c/d 544 Jan 1 Balance b/d 9,040 9,040 544 Bank Statement Date Cheque Transaction Debit Credit Balance No. Code Dec 1 Balance b/f 460 Credit 3 CH 2,600 3,860…
At October 31, Matrah Company has this bank information: cash balance per bank RO 8,950; outstanding checks RO 450; deposits in transit RO 1,300; and a bank service charge RO 60. Determine the adjusted cash balance per bank at October 31, 2019.
The bank statement and relevant portions of Bernie Company's cash records for the month ended June 30, 2020 are given below. Bernie Company Cheque Register Explanation 31-May Deposit 1-Jun Cheque 1-Jun Cheque 1-Jun Cheque 1-Jun Cheque 3-Jun Cheque 4-Jun Cheque 9-Jun Deposit 12-Jun Cheque 12-Jun Cheque 12-Jun Cheque 18-Jun Deposit 20-Jun Cheque 21-Jun Cheque 24-Jun Cheque 26-Jun Cheque Date Debit Credit Balance -21,242,92 20.583.92 20,357.92 17,967.92 37,402.92 424.00 E16,978.92 16,626.92 22,906.92 20,793.14 9.050.00 882 659.00 226.00 2,390.00 565.00 876 883 884 885 886 352.00 6,280.00 887 2,113.78 18,623.71 17,375.71 19,295.71 16,926.71 10,257.71 8,805.71 2,169.43 1,248.00 888 889 1,920.00 890 2,369.00 891 6,669.00 892 893 1,452.00 256.00 8,549.71 3,695.00 12,244.7 29-Jun Deposit
c) The followings are the cash book and the bank statement of Alison Baker for the month of November 2017: i) Date 2021 ii) Nov 16 G. Philip 21 J. Forker 31 S. O'Hare 31 Balance c/d REQUIRED: Date 2021 Nov 1 8 16 20 21 31 31 31 Details Balance T. MacLeod Cheque W. Milne Cash book Bank 292 369 192 1,682 5,048 Cheque G. Frank: trader's credit Standing Order Bank Charges Date 2021 Bank statement Illustrate the cash book up to date. Nov 1 6 30 W. Milne 29 S. Porter Balance T. MacLeod Debit 184 160 32 19 292 369 88 Bank Credit Balance Illustrate a bank reconciliation statement as at 31 November 2021. 4,200 184 160 504 5,048 4,200 O/D 4,384 O/D 4,092 O/D 4,252 O/D 3,883 O/D 3,795 0/D 3,827 0/D 3,846 O/D