Bank Rec Exercise
2
Molly Holly provided the following information for July, 31, 2011 Cash Book Molly Holly Bank Statement for July,2011 Details Dr Cr Bal Balance Cash Cheque #3701 Cheque #1402 Cheque #9342 Deposit S. Sally Credit Transfer: G. Dale Standing Order: Water Refused Cheque: S. Sally Dividends Direct Debit: P. Polly Bank Charges 1500 7600 1000 680 6000 3600 50 1420 7000 6000 9700 4000 1700 3120 1620 (598 0) (698 0) 20 6020 1572 0 1564 0 9040 1304 0 9440 9390 Required: (a) Bring the Bank balance up-to- date (b) Prepare a Bank Statement Balance starting with the Adjusted Cash balance and Bank Statement Balance Exercise Two Kelly Smelly compared her Cash Book with her bank statement which also showed an overdraft balance Balance as per Cash Book (9700) Deposits in Transit 16700 Suppliers Cheques not cashed 14900 Dishonoured Cheque: W. Wack 900 Interest Rec’d on bank 700 Credit Transfer: S. Duff 6300 Direct Debit: L Carl 7100 Bank Charges 400 Instructed payments by the bank 700 The following information was also provided: (a) The accountant mistakenly debited a cheque for 1650 as 650 in the cash book, it was correctly entered in the bank statement (b) The bank credited the company’s account twice with a cheque for $200 Required: Update the Cash Book for Kelly Smelly for the month of January, 2012 Prepare a Bank Reconciliation Statement for Kelly Smelly Exercise 3: CXC May 2006 The Cash Book of L. Tracey at February, 28, 2006 showed a debit balance of $10030. On comparing her CB Details $ Details $ Bal b/d Cash L. Lover G. Dove S. Sally 700 0 142 0 640 0 700 0 600 0 V. Enterprise P. Pamper Sandy Works Dog Supplies Gas Supplies Bal c/d 1500 7600 3900 1330 0 1000 520
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Bank Rec
Transcript of Bank Rec Exercise
Details$Details$
Bal b/d CashL. LoverG. DoveS. Sally70001420640070006000V. EnterpriseP. PamperSandy WorksDog SuppliesGas SuppliesBal c/d 150076003900133001000520
Molly Holly provided the following information for July, 31, 2011Cash Book
Molly Holly Bank Statement for July,2011DetailsDrCrBal
BalanceCashCheque #3701Cheque #1402Cheque #9342DepositS. SallyCredit Transfer: G. DaleStanding Order: WaterRefused Cheque: S. SallyDividendsDirect Debit: P. PollyBank Charges
150076001000
6806000
3600501420
700060009700
4000170031201620(5980)(6980)206020157201564090401304094409390
Required:(a) Bring the Bank balance up-to-date(b) Prepare a Bank Statement Balance starting with the Adjusted Cash balance and Bank Statement Balance
Exercise TwoKelly Smelly compared her Cash Book with her bank statement which also showed an overdraft balanceBalance as per Cash Book(9700)Deposits in Transit16700Suppliers Cheques not cashed14900Dishonoured Cheque: W. Wack900Interest Recd on bank700Credit Transfer: S. Duff6300Direct Debit: L Carl7100Bank Charges400Instructed payments by the bank700The following information was also provided:(a) The accountant mistakenly debited a cheque for 1650 as 650 in the cash book, it was correctly entered in the bank statement(b) The bank credited the companys account twice with a cheque for $200
Required:Update the Cash Book for Kelly Smelly for the month of January, 2012Prepare a Bank Reconciliation Statement for Kelly Smelly
Exercise 3: CXC May 2006The Cash Book of L. Tracey at February, 28, 2006 showed a debit balance of $10030. On comparing her CB with her Bank Statement the following were observed:1. A cheque paid to a creditor for $1894 was entered in the Cash Book as $19842. Direct Credits received by the bank but not entered in the cash nook amounted to $5003. Bank Charges amounted to $1944. A standing order of $365. Unpresented Cheques amounted to $69366. Bank Deposits not credited by the bank amounted to $5487. Cheques marked refer to drawer were not adjusted in the cash book amounted to $112
(a) Update the cash Book(b) Prepare a Bank Reconciliation Statement
