Prepare the bank reconciliation at 31 December 2020 3. Cash sales of RM955.20 on December, 21 were deposited in the bank. The cashreceipts journal entry and the deposit slip were incorrectly made for RM965.20. Thebank credited Watsonia Berhad for the correct amount.4. A RM4,500 note receivable was collected by the bank for Watsonia Berhad onDecember, 31 plus RM95 interest. The bank charged a collection fee of RM35. Nointerest has been accrued on the note.5. On December 31, the bank statement showed an NSF charge of RM1,340 for a chequeissued by Dahlia, a customer; to Watsonia Berhad on account.6. The statement included a debit memo of RM80 for the printing of additional companycheques.7. Bank charges of RM740 shown on the bank statement have not been entered in thecompany's cash book.8. A monthly direct debit payable to ASTRO for RM550 was wrongly paid twice by thebank. On December 31, 2020, Watsonia Berhad had a cash balance per book of RM8,037.40.The bank statements from Affin Bank on the date showed a balance of RM6,824.60. Acomparison of the statement with the cash account revealed the following facts:1. Deposits in transit were RM3,823.30. Outstanding cheques at December, 31 totalledRM752.50.2. On December,18 the company issued cheque No. 1181 for RM846 to Gloxinia SdnBhd on account. The check, which cleared by the bank in December, was incorrectlyjournalized and posted by Watsonia Berhad for RM864.

The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

n sales of RM955.20 on December, 21 were deposited in the bank. The cas ipts journal entry and the deposit slip were incorrectly made for RM965.20. TI - credited Watsonia Berhad for the correct amount. M4,500 note receivable was collected by the bank for Watsonia Berhad o ember, 31 plus RM95 interest. The bank charged a collection fee of RM35. N rest has been accrued on the note. December 31, the bank statement showed an NSF charge of RM1,340 for a chequ ed by Dahlia, a customer; to Watsonia Berhad on account. statement included a debit memo of RM80 for the printing of additional compar ues. k charges of RM740 shown on the bank statement have not been entered in th pany's cash book. onthly direct debit payable to ASTRO for RM550 was wrongly paid twice by th

n sales of RM955.20 on December, 21 were deposited in the bank. The cas ipts journal entry and the deposit slip were incorrectly made for RM965.20. TI - credited Watsonia Berhad for the correct amount. M4,500 note receivable was collected by the bank for Watsonia Berhad o ember, 31 plus RM95 interest. The bank charged a collection fee of RM35. N rest has been accrued on the note. December 31, the bank statement showed an NSF charge of RM1,340 for a chequ ed by Dahlia, a customer; to Watsonia Berhad on account. statement included a debit memo of RM80 for the printing of additional compar ues. k charges of RM740 shown on the bank statement have not been entered in th pany's cash book. onthly direct debit payable to ASTRO for RM550 was wrongly paid twice by th

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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