he Bank Account (General Ledger account) and the Bank Statement of Bintang Enterprise for September are as follows: Bank Account RM RM Sep 1 Balance b/d 7,137 Sep 6 Daud 450 8 Wawasan Ltd 474 13 Jalal & Co. 1,299 17 Abd Halim 279 17 Sunway Bhd 264 26 Mendung Sdn Bhd 921 27 Sedaya Trading 171 29 Kamal Enterprise 1,872 30 Balance c/d 8,499 10,683 10,683 Oct 1 Balance b/d 8,499
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Question 6
The Bank Account (General Ledger account) and the Bank Statement of Bintang Enterprise for September are as follows:
Bank Account
|
|
|
RM |
|
|
RM |
|
Sep 1 |
Balance b/d |
7,137 |
Sep 6 |
Daud |
450 |
|
8 |
Wawasan Ltd |
474 |
13 |
Jalal & Co. |
1,299 |
|
17 |
Abd Halim |
279 |
17 |
Sunway Bhd |
264 |
|
26 |
Mendung Sdn Bhd |
921 |
27 |
Sedaya Trading |
171 |
|
29 |
Kamal Enterprise |
1,872 |
30 |
Balance c/d |
8,499 |
|
|
|
10,683 |
|
|
10,683 |
|
Oct 1 |
Balance b/d |
8,499 |
|
|
|
Bank Statement as at 30 September
|
|
|
Dr |
Cr |
Balance |
|
|
|
RM |
RM |
RM |
|
Sep 1 |
Balance b/f |
|
|
7,137 |
|
8 |
Deposit |
|
474 |
7,611 |
|
9 |
Cheque |
450 |
|
7,161 |
|
17 |
Deposit |
|
279 |
7,440 |
|
18 |
Cheque |
1,299 |
|
6,141 |
|
19 |
Cheque |
264 |
|
5,877 |
|
26 |
Deposit |
|
921 |
6,798 |
|
27 |
Standing order |
132 |
|
6,666 |
|
29 |
Credit transfer |
|
270 |
6,936 |
|
30 |
Bank charges |
210 |
|
6,726 |
|
|
|
|
|
|
Required:
- Write up the Bank Account up-to-date to take the above into account.
- Draw up a
Bank Reconciliation Statement as at 30 September.
Step by step
Solved in 3 steps with 2 images
- Question 6 The Bank Account (General Ledger account) and the Bank Statement of Bintang Enterprise for September are as follows: Bank Account RM RM Sep 1 Balance b/d 7,137 Sep 6 Daud 450 8 Wawasan Ltd 474 13 Jalal & Co. 1,299 17 Abd Halim 279 17 Sunway Bhd 264 26 Mendung Sdn Bhd 921 27 Sedaya Trading 171 29 Kamal Enterprise 1,872 30 Balance c/d 8,499 10,683 10,683 Oct 1 Balance b/d 8,499 Bank Statement as at 30 September Dr Cr Balance RM RM RM Sep 1 Balance b/f 7,137 8 Deposit 474 7,611 9 Cheque 450 7,161 17 Deposit 279 7,440 18 Cheque 1,299 6,141 19 Cheque 264 5,877 26 Deposit 921 6,798 27 Standing order 132 6,666 29 Credit transfer 270 6,936 30 Bank…QUESTION 8 You are provided with information relating to Umdoni Stores. The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19: Balance per bank statement R5 000 Debit 7. An EFT payment made by a receivable for R4 300 on 31 October 20.19 appeared in the bank statement but not in the Balance per Cash Book R6 500 credit October Cash Book. Outstanding deposit dated 30 September 20.19 R20 500 On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October, the following was noted: To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the R4 300 deposit (no. 7) must be recorded as follows: In the debit column of the Bank reconciliation statement as R4 300 O In the credit column of the Bank reconciliation statement as R4 300 Not recorded in the Bank account or the Bank reconciliation statement On the debit side of the Bank account as R4 300 On…QUESTION 1 You are provided with information relating to Umdoni Stores. The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19: Balance per bank statement R5 000 Debit 1. The Cash Book showed a credit balance of R5 956 while the bank statement reflected a favourable balance of R4 794 on Balance per Cash Book R6 500 credit 31 October 20.19. Outstanding deposit dated 30 September 20.19 R20 500 On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October, the following was noted: To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the Credit balance of R5 965 will be shown as follows: Credit side of Bank account as R5 956 Will not be shown in the Bank account or Bank reconciliation Debit side of Bank account as R5 956 Debit column of Bank reconciliation as R5 956 Credit column of Bank Reconciliation as R5 956
- QUESTION I The bank statement for Meranti Development Bhd shows a balance per bank of RM38,682.10 on 31 May 2021. On this date the balance of cash per book is RM34,496.90. A comparison of the bank statement with the general ledger cash account, No. 101 reveals the following: a) The amount of RM4,464.80 has been deposited to bank on 31 May 2021 which was received by bank on 1 June 2021. b) Outstanding checks identified: No. 321: RM4,410, No. 330: RM2,802.60 and No. 375: RM2,367. c) Mr. Zubair, the account executive, wrote a check no.123 for RM1,505 and the bank correctly paid the amount. Howe ver, Mr. Zubair recorded the check as RM1,550. There are a few bank memoranda received: d) i. Debit memo - for the NSF check received from Chengal Jaya Enterprise for RM1,052.60. ii. Credit memo - collection of note receivable for RM2,020 plus interest earned RM50. iii. Credit memo - bank interest RM78. iv. Debit memo – service charge RM70. e) The rental expenses for the premises were made monthly…Problem 17: Use the following information for the next five questions: Sky Blue Corporation's bank account for May and June of 2021, were as follows: May data are as follows: Balance per bank, May 31 Balance per books, May 31 Deposits in transit Checks outstanding Bank service charge 10,500 11,864 1,500 150 14 June data are as follows: Bank Books Receipts Deposits recorded Deposits received Collection by bank (P2,000 noteplus interest) Disbursements Checks issued and recorded Checks paid Service charges recorded Check payment for utilities erroneously charge by the bank against the account of Royal Blue Company on June 30 9,000 8,100 2,100 11,800 11,500 12 14 50 47. How much is the correct disbursements for the month of June? 48. How much is the correct receipts for the month of June? 49. How much is the correct cash balance for the month of June? 50. How much is the correct cash balance for the month of May? 51. How much is cash shortage/ (overage)? 52. Prepare adjusting entries, if…Accounting Q/ Prepare a Bank Reconciliation Statement for XYZ company that has: Bank statement of SR9,000. Cash account of SR7,500. Additional information for the reconciliation: Deposit in transit. NSF Check. Outstanding check. Collections made by the bank. Required: provide an amount of each information to bring the adjusted balances to be equal.
- QUESTION 2 You are provided with information relating to Umdoni Stores. The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19: Balance per bank statement R5 000 Debit 1. The Cash Book showed a credit balance of RS 956 while the bank statement reflected a favourable balance of R4 794 on Balance per Cash Book R6 500 credit 31 October 20.19. Outstanding deposit dated 30 September 20.19 R20 500 On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October, the following were noted: To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the favourable balance of R4 794 (no. 1) will be shown as follows: On the credit side of the Bank account as R4 794 O In the credit column of the Bank reconciliation statement as R4 794. Not recorded in the Bank account or the Bank reconciliation statement On the debit side of the Bank account as R4 794 In the…ANYTOWN BANK PLC Current account statement D. DHILLON Account name Account number 007457892 Branch Karachi Transactions Date Details Debit Credit Balance 1 October 3 October 7 October Balance 127.63 Lodgement 367.42 495.05 674 81.31 413.74 Lodgement Lodgement 84.56 498.30 10 October 97.42 595.72 15 October 675 364.42 231.30 16 October 673 272.61 41.31 OD 31 October Credit transfer G. Jackson 41.99 0.68 149.32 OD Stdg order Loan repmt Dishonoured cheque Bank charges 150.00 12.48 161.80 OD 27.56 189.36 OD Figure 12.4 Dhillon's bank statement Required a Make any adjustments to Dhillon's cash book. b Prepare a bank reconciliation statement at 31 October.Print Item From the data below for Wong Company, prepare the closing entries for the year ended December 31. Cash dividends $47,000 Sales 982,600 Sales returns and allowances 3,960 Interest revenue 10,521 Factory overhead (debit) 210,620 Factory overhead (credit) 210,620 Cost of goods sold 726,820 Wages expense 130,745 Supplies expense 9,900 Depreciation expense-office equipment 6,900 Utilities expense 5,840 Bad debt expense 1,680 Advertising expense 11,120 Interest expense 9,860 Income tax expense 32,050 If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT
- Ablema has provided you with the following bank statement and bank account details in respect of the month ended 31 January 2018. Statement date - 31 January, 2018. Account No 1452800 Date Particulars Debit Credit Balance GH¢ GH¢ GH¢ 01-Jan-18 Balance forward 67,580 Cr 06-Jan-18 Cheque 597 120 67,460 Cr 06-Jan-18 Direct debit 2,020 65,440 Cr 12-Jan-18 Credit transfer 4,660 70,100 Cr 13-Jan-18 Cheque 600 1,420 68,680 Cr 14-Jan-18 Cheque 601 12,028 56,652 Cr 16-Jan-18 Lodgement 9,000 65,652 Cr 19-Jan-18 Cheque 599 18,004 47,648 Cr 23-Jan-18 Bank charges for December 2017 422 47,226 Cr 25-Jan-18 Quarterly interest received 62 47,288 Cr 27-Jan-18 Dishonoured cheque 1,600 45,688 Cr 27-Jan-18 Cheque 598 26,090 19,598 Cr 30-Jan-18 Cheque 603 5,048 14,550 Cr 31-Jan-18 Lodgement 14,500 29,050 Cr 31-Jan-18 Standing order: rent first quarter 2018 27,000 2,050 Cr The books and records of Ablema show the followings transactions through the bank account for the month of January 2018: Date Receipts…XYZ Company's Checking account has a balance of $500 on its bank statement as of July 1, The bank statement for this account on July 31 shows $300 on the credit column and $600 on the debit column, The balance that should be on the company's bank statement as of July31 is ? а. 500 b. 800 С. 1400 d. 200Question 5 Bank statement received by Nurul Enterprise showed differences in balances between the bank statement and the cash book's records. The followings are cash book (bank column) and bank statement from CIMB Bank for the month of July 2022. 2022 July 1 5 12 Aiman Sdn Bhd Yunus Trading 18 19 Sales 27 Aiman Sdn Bhd 29 Kemuning - debtor Aug 1 Balance b/d Date Balance b/d Sales commission Particulars 1 Balance b/d 2 Cheque deposited 3 Cheque clearing 5 Cheque deposited 11 Cheque 13 Payment - bills 14 Cheque clearing 20 Cheque deposited 21 Cheque clearing 25 Bank charges 29 Dividend received 30 Standing order - loan 30 Credit transfer - Ali 2 Cash Book 2022 July RM 17,517 2 10,000 10 9,980 12 2,000 15 2,660 20 7,489 30 3,200 30 52,846 16,985 66225 Shah Supplies Creditors - Whey Utilities Purchases Rental factory Staff Salary Balance c/d Bank Statement as at 31³ July 2022 Cheque Debit Credit Balance No RM RM RM 0344 6,800 17833 0345 7,000 0346 345 03474,243 20086 0348 8,753 25 3,000…