24.4X On 31 October 2017 the cash book of N. Orangeshowed a balance at bank of $570. An examinationof his records located the following errors.li) Orange paid to R. Jones $175 by cheque on15 October. This cheque was entered in thecash book as $195.(ii) Bank charges not recorded in the cash bookamounted to $25.(iii) A cheque dated 19 October, value $150,payable to T. Jack was not paid by the bank until5 November.inot creditire insuraconsidernce with the(iv) Orange on 23 October received from W.Green a cheque, value $125. This cheque wasdishonoured on 29 October. No entry for thestatementhdishonour has been made in the cash book.(v) On 31 October a cheque, value $200, receivedfrom F. Brown was banked; however, the bankstatement was not credited until 1 November.nts You are required to:(a) make the necessary entries in the cash book inorder to show the revised cash book balance at31 October 2017;(b), reconciynce.(b) prepare a statement reconciling the correctedcash book balance with the bank statement at31 October 2017;lc) state the balance at bank at 31 October 2017 asshown by the bank statement.

The financial transactions undertaken in the business involving the bank account are recorded by the…

24.4X On 31 October 2017 the cash boc showed a balance at bank of $570. An examination of his records located the following errors. (i) Orange paid to R. Jones $175 by cheque on 15 October. This cheque was entered in the cash book as $195. (ii) Bank charges not recorded in the cash book amounted to $25. liii) A cheque dated 19 October, value $150, payable to T. Jack was not paid by the bank until 5 November. (iv) Orange on 23 October received from W. Green a cheque, value $125. This cheque was dishonoured on 29 October. No entry for the dishonour has been made in the cash book. (v) On 31 October a cheque, value $200, received from F. Brown was banked; however, the bank statement was not credited until 1 November. c You are required to: la) make the necessary entries in the cash book in order to show the revised cash book balance at 31 October 2017; (b) prepare a statement reconciling the corrected cash book balance with the bank statement at 31 October 2017; (c) state the balance at bank at 31 October 2017 as shown by the bank statement.

24.4X On 31 October 2017 the cash boc showed a balance at bank of $570. An examination of his records located the following errors. (i) Orange paid to R. Jones $175 by cheque on 15 October. This cheque was entered in the cash book as $195. (ii) Bank charges not recorded in the cash book amounted to $25. liii) A cheque dated 19 October, value $150, payable to T. Jack was not paid by the bank until 5 November. (iv) Orange on 23 October received from W. Green a cheque, value $125. This cheque was dishonoured on 29 October. No entry for the dishonour has been made in the cash book. (v) On 31 October a cheque, value $200, received from F. Brown was banked; however, the bank statement was not credited until 1 November. c You are required to: la) make the necessary entries in the cash book in order to show the revised cash book balance at 31 October 2017; (b) prepare a statement reconciling the corrected cash book balance with the bank statement at 31 October 2017; (c) state the balance at bank at 31 October 2017 as shown by the bank statement.

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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Subject:accounting
Vikarm
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