24.8A The following is the cash book (bank columns) of F. King for December 2020:2020DecDr2020CrР. PanС. НоokW. BrittenBalance c/d6230Dec1Balance b/dJ. LambP. WilsonK. Coull1,90020265103043132519261311,6822,50229372,502The bank statement for the month is:2020DrCrBalance£Dec1Balance1,900 O/D1,670 O/D1,974 O/D1,709 O/D1,970 O/D2,064 O/D1,962 O/D2,034 O/DChequeJ. LambCheque222301330420265P. WilsonTox: standing order312613094F. Ray: trader's credit31102Bank charges72You are required to:(a) Write the cash book up to date to take the necessary items into account, and(b) Draw up a bank reconciliation statement as on 31 December 2020.

The bank reconciliation statement is prepared to equate the balance of cash book and pass book with…

24.8A The following is the cash book (bank columns) of F. King for December 2020: 2020 Dr £ 2020 Cr Dec P. Pan С. Нook W. Britten Balance c/d 6. 230 Dec 1 Balance b/d J. Lamb P. Wilson K. Coull 1,900 304 20 265 10 31 325 19 261 31 1,682 2,502 29 37 2,502 The bank statement for the month is: 2020 Dr Cr Balance £ Dec 1 Balance Cheque J. Lamb Cheque 22 1,900 O/D 1,670 O/D 1,974 O/D 1,709 O/D 1 970 O/D 6 230 13 304 20 265 P. Wilson 261

24.8A The following is the cash book (bank columns) of F. King for December 2020: 2020 Dr £ 2020 Cr Dec P. Pan С. Нook W. Britten Balance c/d 6. 230 Dec 1 Balance b/d J. Lamb P. Wilson K. Coull 1,900 304 20 265 10 31 325 19 261 31 1,682 2,502 29 37 2,502 The bank statement for the month is: 2020 Dr Cr Balance £ Dec 1 Balance Cheque J. Lamb Cheque 22 1,900 O/D 1,670 O/D 1,974 O/D 1,709 O/D 1 970 O/D 6 230 13 304 20 265 P. Wilson 261

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

37)At Dec 31, Michael Corp has the following bank information: Cash balance per bank $4,500 Outstanding checks $200 Deposits in transit $1,000 Credit memo for interest $50 Bank service charge $25 What is Michael's adjusted cash balance on Dec 31? A)$5,425. B)$4,425. C)$5,325. D)$5,300
What is the cash balance per books at November 30, 2021?
nta 22 Coronado has the following assets at December 31, 2019. Cash in bank-savings account 134,000 Certificates of deposit (270-day) 226,000 sponder a como Cash on hand 1,600 Postdated checks 6,000 Cash refund due from State Taxing Authority 32,100 Checking account balance 12,000 What amount should be reported as cash? arcar nta O a. 135,600 O b. 134,000 O c. 179,700 O d. 147,600 pe here to search
How much is the correct cash balance on December 31, 2020? * Mr. Matee Nik, the accountant of Tikoy Inc. prepared the following bank reconciliation for November 2020: Balance per ledger Bank service charges P2,372,000 (2,000) Adjusted balance P2,370,000 Balance per bank statement P2,100,000 Deposit in transit 300,000 Outstanding checks Adjusted balance (30,000) P2,370,000 Information gathered for December 2020 are as follows: Bank Book Checks recorded 2,300,000 2,360,000 Deposits recorded Collection by bank (P400,000 note plus interest) NSF check returned with Dec. 31 1,620,000 1,800,000 420,000 bank statement 10,000 Service charge 2,000 Balances 1,828,000 1,810,000
The folowing are extracts from the cash book and the bank statement of R. Wright. You are required to. (a) Write the cash book up to date and state the new balance as on 28 February 2020. (b) Draw up a bank reconcaliation statement as on 28 February 2020 Cash Book 2005 Feb 8 A. Kirkland 3500 Feb. 15 R. Mason Feb 28 G. Harris Feb 28 W. Mullings 330 2020 Febi Balancel 10500 350 Feb. 7 R. Clarke Feb 22 K. Hughes Feb 25 K. Wood Feb 26 A. Aiken 1230 275 220 300 750 Feb 28 C. Mills Feb 28 Bal ed 220 12395 7115 7115 12395 March I Bal bif Bank Statement 2020 Cr Balance FebI Balance bf Feb 7 R. Clarke Feb 8 A Kirkland Feb 15 R. Mason Feb 22 K. Hughes Feb 23 R. Brooks Feb 24 P. Peart Feb 28 U. Ulet Feb 28 K. Campbel 10500 10850 7350 6120 350 3500 1230 275 6395 6895 6025 7525 8325 500 870 1500 800 Updated Cash Book Date Details Felio Amount Date Detail Foho Amount Bank Reconciliation Statement aat February 28, 2020 Details
The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 6 Peypei 230 20 Ceria 265 31 Baiti 325 31 Balance c/d 1,682 2,502 Dec 1 Balance b/d 1,900 10 Luna 304 19 Wilson 261 29 Cikmah 37 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 13 Luna 304 1,974 20 Cheque 265 1,709 22 Wilson 261 1,970 30 Tox:Standing Order 94 2,064 31 Rina:Trader’s Credit 102 1,962 31 Bank charges 72 2,034 Required: a) Prepare the updated cashbook. b) Prepare the bank reconciliation statement as at 31 December 2020
Sammy Joe's cash book (bank columns only) for the month of 2021 June was as follows: $ $ June 01 5 000 June 09 Wages Balance b/d Cash deposit 500 450 16 700 10 Stationery 18 M. Panton 800 23 Big D Limited 1 000 20 Rory Richards 2 500 2 680 Electric Solutions Sweet Treat Pastry 26 Sadie Jones 1 900 880 5 390 10 900 10 900 July 01 Balance b/d 5 390 Sammy Joe's bank statement for 2021 June: June 01 Balance b/d 29 30 30 Balance c/d Payments Balance Receipts $ $ $ 5 000 05 Standing order 60 4 940 09 Wages 500 4 440 10 Stationery 450 3 990 16 Cash deposit 700 4 690 18 M. Panton 800 5 490 19 Sara Stamp 570 6 060 20 Dishonoured cheque 480 5 580 21 Bank charges 100 5 480 24 Direct transfer: J. Gordon 300 5 780 30 Sweet Treat Pastry 880 4 900 A. Bring the cash book up to date, starting with the balance at 2021 June 30. B. Prepare a statement to reconcile the difference between the amended cash book balance and the balance on the bank statement at 2021 June 30.