Q.2 ABC Co. reports the following information concerning cash balances and cash trausactions for the month of September: 1.Cash balance per bank statement as of September 30 was Rs.20,893.25. 2.Two debit memoranda accompanied the bank statement: one for Rs.10 was for scervice charges for the month; the oher for Rs.64.60 was attached to an NSF check from A.Smith, 3.Included with the bank statement was Rs.69 credit memorandum for interest carned on the bank account ia September. 4.The paid checks retumed with the September bank statement disclosed an error in Co's cash records. Check no. 851 for Rs.77.44 for telephone expense had erroneously been listed in the cash payments journal as Rs.4477. 5.A colection charge for Rs.26.00 was erroneously doducted from the account by the bank. Notice that this was the bank's error. 6.Cash eceipts of September 30 amounting to Rs.585.25 were mailed to the bank too late to be included in the September bank statement. 7.Checks oulstanding as of September 30 were as follows: no.860 for Rs.151.93, no.867 for Rs.82.46, and no.8 69 for Rs.123.61 The cah account showed the following entries during September: Sept. 01. balance Sept. 30.month's receipts Rs.18,341.82 14,441.58 CASH Sept.30. month's payments Rs.I1 598.63 REQUIRED: 1.Preparea bank reconciliation statement at September 30.
Q.2 ABC Co. reports the following information concerning cash balances and cash trausactions for the month of September: 1.Cash balance per bank statement as of September 30 was Rs.20,893.25. 2.Two debit memoranda accompanied the bank statement: one for Rs.10 was for scervice charges for the month; the oher for Rs.64.60 was attached to an NSF check from A.Smith, 3.Included with the bank statement was Rs.69 credit memorandum for interest carned on the bank account ia September. 4.The paid checks retumed with the September bank statement disclosed an error in Co's cash records. Check no. 851 for Rs.77.44 for telephone expense had erroneously been listed in the cash payments journal as Rs.4477. 5.A colection charge for Rs.26.00 was erroneously doducted from the account by the bank. Notice that this was the bank's error. 6.Cash eceipts of September 30 amounting to Rs.585.25 were mailed to the bank too late to be included in the September bank statement. 7.Checks oulstanding as of September 30 were as follows: no.860 for Rs.151.93, no.867 for Rs.82.46, and no.8 69 for Rs.123.61 The cah account showed the following entries during September: Sept. 01. balance Sept. 30.month's receipts Rs.18,341.82 14,441.58 CASH Sept.30. month's payments Rs.I1 598.63 REQUIRED: 1.Preparea bank reconciliation statement at September 30.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
solve both questions given in the image provided.
Transcribed Image Text:Q.2
ABC Co. reports the following information concerning cash balances and cash trausactions for the
month of September:
1.Cash balance per bank statement as of September 30 was Rs.20,893.25.
2.Two debit memoranda accompanied the bank statement: one for Rs. 10 was for service charges for the month;
the oher for Rs.64.60 was attached to an NSF check from A.Smith.
3.Included with the bank statement was Rs.69 credit memorandum for interest carned on the bank account ia
September.
4.The paid checks retumed with the September bank statement disclosed an error in Co's cash records. Check
no. 851 for Rs.77.44 for telephone expense had erroneously been listed in the cash payments journal as
Rs.44.77.
5.A collection charge for Rs.26.00 was erroneously deducted from the account by the bank. Notice that this was
the bank's error.
6.Cash eceipts of September 30 amounting to Rs.585.25 were mailed to the bank too late to be included in the
September bank statement.
7.Checks oulstanding as of September 30 were as follows: no.860 for Rs.151.93, no.867 for Rs.82.46, and
no.8 69 for Rs.123.61
The cash account showed the following entries during September:
Sept. 01.balance
Sept. 30.month's receipts
Rs.18,341.82
14,441.58
CASH
Sept.30. month's payments Rs.I1,598.63
REQUIRED:
1.Prepare a bank reconciliation statement at September 30.
2Freyarethe necessary adjusting antries in general journal form.
Scamm
nScariner
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education