GUILLEMOT LIMITED – BANK RECONCILIATIONS What items/information are required to prepare a bank reconciliation? What steps, in order of performance, should be followed to prepare a bank reconciliation? Prepare a bank reconciliation and bank control account in the standard format from the following information: Balance per cash book at start of year Balance per bank statement at end of year Bank charges and interest on bank statement not in CB Transposition error in cash book £14,335 £28,629 £25 £189 Receipts in vear ner cash hook

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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GUILLEMOT LIMITED – BANK RECONCILIATIONS
What items/information are required to prepare a bank reconciliation?
What steps, in order of performance, should be followed to prepare a bank reconciliation?
Prepare a bank reconciliation and bank control account in the standard format from the
following information:
Balance per cash book at start of year
Balance per bank statement at end of year
Bank charges and interest on bank statement not in CB
£14,335
£28,629
£25
Transposition error in cash book
Receipts in year per cash book
Bounced cheque – cleared post y/e
Cheques in CB not on statement
Payments in year per cash book
Standing orders on statement not in CB
Bounced cheque in year – returned to company post y/e as did not clear
Lodgements in cash book not on bank statement
£189
£205,714
£524
£11,747
£200,119
£426
£200
£3,110
What additional information should be shown on the bank reconciliation, if available?
Transcribed Image Text:GUILLEMOT LIMITED – BANK RECONCILIATIONS What items/information are required to prepare a bank reconciliation? What steps, in order of performance, should be followed to prepare a bank reconciliation? Prepare a bank reconciliation and bank control account in the standard format from the following information: Balance per cash book at start of year Balance per bank statement at end of year Bank charges and interest on bank statement not in CB £14,335 £28,629 £25 Transposition error in cash book Receipts in year per cash book Bounced cheque – cleared post y/e Cheques in CB not on statement Payments in year per cash book Standing orders on statement not in CB Bounced cheque in year – returned to company post y/e as did not clear Lodgements in cash book not on bank statement £189 £205,714 £524 £11,747 £200,119 £426 £200 £3,110 What additional information should be shown on the bank reconciliation, if available?
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