A cheque for $3,000 received from a debtor was deposited at the bank but no journal entry was made to record the transaction in the cash book. ii. The repayment of a mortgage is made on behalf of the business by the bank on the authority of a standing order. The payment of $18,000 for the month of November 2010 was not recorded in the cash book. iii. A $36,900 deposit made to the bank on November 30, 2010, did not appear on the bank statement. iv. A cheque for $67,000 which was paid to a creditor was incorrectly recorded in the cash book as $76,000. v. Bank charges of $2,400 appeared on the bank statement only. vi. The direct transfer of $10,000 from Fidel’s bank to the bank of the supplier was not recorded in the cash book. vii. Cheques amounting to $41,000 that were paid to suppliers and creditors did not appear on the bank statement. viii. A deposit of $25,000 made by Federal Trading appeared on the bank statement of Fidel Trading. ix. The bank account in the cash book of Fidel Trading reflected an overdraft of $12,800 on November 30, 2010. Prepare bank reconciliation statement for Fidel Trading’s for November 30th, 2010
A cheque for $3,000 received from a debtor was deposited at the bank but no journal entry was made to record the transaction in the cash book. ii. The repayment of a mortgage is made on behalf of the business by the bank on the authority of a standing order. The payment of $18,000 for the month of November 2010 was not recorded in the cash book. iii. A $36,900 deposit made to the bank on November 30, 2010, did not appear on the bank statement. iv. A cheque for $67,000 which was paid to a creditor was incorrectly recorded in the cash book as $76,000. v. Bank charges of $2,400 appeared on the bank statement only. vi. The direct transfer of $10,000 from Fidel’s bank to the bank of the supplier was not recorded in the cash book. vii. Cheques amounting to $41,000 that were paid to suppliers and creditors did not appear on the bank statement. viii. A deposit of $25,000 made by Federal Trading appeared on the bank statement of Fidel Trading. ix. The bank account in the cash book of Fidel Trading reflected an overdraft of $12,800 on November 30, 2010. Prepare bank reconciliation statement for Fidel Trading’s for November 30th, 2010
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
i. A cheque for $3,000 received from a debtor was deposited at the bank but no journal entry was made to record the transaction in the cash book .
ii. The repayment of a mortgage is made on behalf of the business by the bank on the authority of a standing order. The payment of $18,000 for the month of November 2010 was not recorded in the cash book.
iii. A $36,900 deposit made to the bank on November 30, 2010, did not appear on the bank statement.
iv. A cheque for $67,000 which was paid to a creditor was incorrectly recorded in the cash book as $76,000.
v. Bank charges of $2,400 appeared on the bank statement only.
vi. The direct transfer of $10,000 from Fidel’s bank to the bank of the supplier was not recorded in the cash book.
vii. Cheques amounting to $41,000 that were paid to suppliers and creditors did not appear on the bank statement.
viii. A deposit of $25,000 made by Federal Trading appeared on the bank statement of Fidel Trading.
ix. The bank account in the cash book of Fidel Trading reflected an overdraft of $12,800 on November 30, 2010.
Prepare bank reconciliation statement for Fidel Trading’s for November 30th, 2010
Transcribed Image Text:FIDEL TRADING'S
Cash Book for November 30th, 2010
DATE
DETAILS
AMOUNT DEBITED
DATE
DETAILS
AMOUNT CREDITED
Cheque
Accounting Error
Owners Deposit
Balance c/d
Balance b/d
Mortgage
Bank Charge
Direct Transfer
(i)
S3,000.00
(ix)
-S12,800.00
(iv)
$9,000.00
(ii)
$18,000.00
(viii)
$25,000.00
(v)
S2,400.00
$6,200.00
(vi)
S10,000.00
S43,200.00
S43,200.00
Balance b/d
S6,200.00
Transcribed Image Text:FIDEL TRADING'S
Journal Entries
DATE
DETAILS
DEBIT
$ CREDIT
$
(i)
Cash at Bank
3,000.00
Accounts Receivable
3,000.00|
(ii)
Mortgage
18,000.00
Cash at Bank
18,000.00
(iv)
Cash at Bank
9,000.00
Accounts Payable
9,000.00
(v)
Bank Charges
2,400.00
Cash at Bank
2,400.00
Accounts Payable
Cash at Bank
(vi)
10,000.00
10,000.00
(vii)
Cash at Bank
25,000.00
Accounts Receivable
25,000.00
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