6. The bank statement of Araba Wontumi for the month of March 2014 is: Balance GH4 DR CR GHG GHC Mar 1 Balance Mar. 8 Tawiah Mar. 16 Cheque Mar. 20 Benneh Mar. 21 Cheque Mar. 31 Koo Manu Trader's Credit Mar. 31 Standing order Mar. 31 Commission on Turnover 5,197 O/D 5,319 O/D 5,075 O/D 5,283 O/D 4,950 O/D 4,893 O/D 122 244 208 333 57 49 4,942 O/D 28 4,970 O/D The cash book for March 2014 is: 2014 -GH4-2014 GHC Mar. 16 Marshall Mar. 21 Alexander Mar. 31 Simiguah Mar. 31 Bal c/d 244 333 160 5,280 Mar. 1 b/f Mar. 6 Tawiah Mar. 30 Benneh Mar. 30 Siaw 5,197 122 208 490 6,017 6,017 You are to: a) Write the cash book up-to-date b) Draw up a bank reconciliation statement as on 31 March 2014

6. The bank statement of Araba Wontumi for the month of March 2014 is: Balance GH4 DR CR GHG GHC Mar 1 Balance Mar. 8 Tawiah Mar. 16 Cheque Mar. 20 Benneh Mar. 21 Cheque Mar. 31 Koo Manu Trader's Credit Mar. 31 Standing order Mar. 31 Commission on Turnover 5,197 O/D 5,319 O/D 5,075 O/D 5,283 O/D 4,950 O/D 4,893 O/D 122 244 208 333 57 49 4,942 O/D 28 4,970 O/D The cash book for March 2014 is: 2014 -GH4-2014 GHC Mar. 16 Marshall Mar. 21 Alexander Mar. 31 Simiguah Mar. 31 Bal c/d 244 333 160 5,280 Mar. 1 b/f Mar. 6 Tawiah Mar. 30 Benneh Mar. 30 Siaw 5,197 122 208 490 6,017 6,017 You are to: a) Write the cash book up-to-date b) Draw up a bank reconciliation statement as on 31 March 2014

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

Bank reconcilation
F27.
31.1.2020 XYZ Company withdrawn Cash RO. 4500 from the bank. Which of the following is the correct journal entry of the transaction? Select one: a. Accounts Debit Credit (RO) Date (RO) 31.1.2020 Cash 4500 Bank 4500 b. Date Accounts Debit Credit (RO) 31.1.2020 Drawings 4500 (RO) Cash 4500 С. Accounts Debit Credit (RO) Date (RO) 31.1.2020Withdrawal 4500 Bank 4500
Consolidated Paper has just completed its bank reconciliation for the month of Febrruary 2023 as shown below. Balance per bank....... Add: Deposit in transit......... O Less: Outstanding checks... $16,200 2,600 (900) Balance per books...... Add: Interest earned. Less: Bank service charge.... Add: Error in posting payment of accounts receivable Reconciled balance........ $17,900 customer............ $17,400 200 (100) 2 3 Reconciled balance............... 4 5 a. Prepare the adjusting entry (debits and credits) that is needed as a result of the bank reconciliation. 6 b. What cash balance will Consolidated Paper report on its February 28, 2023 financial statements 7 8 9 0 1 400 $17,900
Q1: Outstanding check, June 30? Q2: Deposits in Transit, June 30? Q3: Cash per bank statement, June 30?
1 Find the new balance, assuming that the bank charges 2-% per month on the unpaid balance. 2 Previous New Balance Payment Purchases $592.88 $81.26 A. $575.61 B. $572.61 C. $576.51 O D. $574.41 $50.00
3. From the following information relating to Bank Şobar, prepare Income Statement for the year ended 31st March 2020. Show the calculations separately. (PREPARED SHEDULES) Particulars Interest on overdraft Establishment Interest on bill discounted R.O 550,000 70,000 300,000 Rent Salaries 25,000 15,000 Interest on savings Printing and stationery Interest on fixed deposits Commission Interest on loan Interest on Borrowing Interest on cash credit Administration's fees Postage and telegram Maintenance expenses General Reserve 80,000 5,900 55,000 90,000 45,000 42,000 275,000 7,000 2,500 8,400 50,000 30.000 Loan Additional information: 1. Provide OMR 50,000 for doubtful debts 2. Provide OMR 120,000 for taxation 3. Rebate on bills discounted on 31-03-20 OMR 60,000 4. Dividend proposed to pay OMR 30,000 5. Last year Profit OMR 100,000
Following are the balances of Bank Sohar for the year ended as on 31st December 2019 (Amounts are in 000’ OMR) PARTICULARS OMR Term loans 7,600 Cash with Central Bank of Oman 20,000 General Reserve 12,400 Share capital 8,000 Non-Banking assets 672 Land and building 2,328 Borrowings from other banks 9,500 Rebate on bills discounted 100 Notes payable 260 Cash credit and Bank overdraft 102,000 Cash with other banks 12,000 Cash in hand 760 Vehicles 5,900 Surplus transferred from income statement 3,790 Corporate securities 50,000 Money at call and short notice 3,600 Current account 84,400 Savings deposits 85,200 Other Adjustments: i. Vehicles was depreciated @ 10% ii. Additional general reserve was created for RO 620 From the above information Prepare Balance sheet and based on that information answer the following ‘3’ multiple choice questions (Do not upload Income Statement in moodle). The…
3. Bank Reconciliation Barb Lee Inc. (BLI) is about to reconcile its bank statement for the month of May. Pertinent information follows: Bank statement balance $11,003.74. General ledger balance $8, 284.07. BLI mailed a deposit of $899.14 to the bank on May 28. The bank had not yet received it by month end. BLI issued cheques # 124 for $2,041.25; # 126 for $951.56; and #129 for $1,000 in May; however, these were not returned with the May 31 bank statement. BLI received notification that a cheque for $313 deposited to BLI's account was returned NSE. The bank levied a $32 returned cheque charge. The bank statement included a $29 service charge for the month.Required:a) Prepare the cash reconciliation for Barb Lee Inc. as at May 31. b) Prepare adjusting journal entries to correct for items noted in the cash reconciliations.
a) prepare the genral journal entries necessary to update the Bank account in the general ledger for Nov 2017\ b) prepare the bank reconcilation as at 30 Nov 2017