| Accounting Test Question No.2 On Bank Reconciliation | ||||||||||||||||||||
The following are the transactions from James’s Cash Book for January 2007:-
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 Question: 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 |
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| Answer: [ Adjusted Cash Book-$337 & Balance as per Bank Statement$254 ] | ||||||||||||||||||||
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