Accounting Test Question No.2 On Bank Reconciliation

Accounting Test Question No.2 On Bank Reconciliation
The following are the transactions from James’s Cash Book for January 2007:-

Cash Book
  $   $
Opening b/f 1,478 Payments 16,891
Receipts 16,071 Balance c/d


  17,549   17,549






You found the following:

(a) bank charges $45 shown on the Bank Statement have not been entered in the Cash Book

(b) a cheque drawn for $59 has been entered in error in the Cash Book as a receipt

(c) a cheque for $158 deposited has been dishonored by the bank but it has not been written back in the Cash Book

(d) Two cheques issued to suppliers for $114 and $284 have not yet been presented to the bank.

(e) a lodgement of $481 made on the last day of the month has not yet been credited to the account by the bank


You are required to:

(i) show what adjustments you would made in the Cash Book

(ii) prepare a Bank Reconciliation Statement as at 31 January 2007

Answer: [ Adjusted Cash Book-$337 & Balance as per Bank Statement$254 ]

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