Question 2 The accounting records related to bank account of Green Life Trading showed the following information: RM 5,434 Cashbook balances as at 31 March 2022 Bank statement as at 31 March 2022 RM 1,226 (overdraft) The following transactions have been discovered while the accounting clerk checked through the documents: The value of a cheque paid to a supplier was wrongly recorded in the cashbook as RM 540. The cheque was dėbited on the bank statement at the correct value of RM 450. Interest received of RM 240 and bank charges of RM 530 appeared in the bank statement but was not updated in the cashbook. Few cheques sent to suppliers amounting RM 5,600 was still not yet been presented to the bank. A customer's cheque for RM 1,390 was returned by the bank as the customer did not have sufficient funds for payment. This transaction was not yet been updated in the Green Life's record. The last page of the paying-in book shows a deposit of RM 10,570 which has not been credited to the account by the bank. A cheque RM 100 received from Dina was recorded twice in the cashbook. Required to prepare: (a) The updated cash book as at 31 March 2022. (b) Bank reconciliation statement as at 31 March 2022.
Question 2 The accounting records related to bank account of Green Life Trading showed the following information: RM 5,434 Cashbook balances as at 31 March 2022 Bank statement as at 31 March 2022 RM 1,226 (overdraft) The following transactions have been discovered while the accounting clerk checked through the documents: The value of a cheque paid to a supplier was wrongly recorded in the cashbook as RM 540. The cheque was dėbited on the bank statement at the correct value of RM 450. Interest received of RM 240 and bank charges of RM 530 appeared in the bank statement but was not updated in the cashbook. Few cheques sent to suppliers amounting RM 5,600 was still not yet been presented to the bank. A customer's cheque for RM 1,390 was returned by the bank as the customer did not have sufficient funds for payment. This transaction was not yet been updated in the Green Life's record. The last page of the paying-in book shows a deposit of RM 10,570 which has not been credited to the account by the bank. A cheque RM 100 received from Dina was recorded twice in the cashbook. Required to prepare: (a) The updated cash book as at 31 March 2022. (b) Bank reconciliation statement as at 31 March 2022.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Do b)
Transcribed Image Text:Question 2
The accounting records related to bank account of Green Life Trading showed the following
information:
RM 5,434
Cashbook balances as at 31 March 2022
Bank statement as at 31 March 2022
RM 1,226 (overdraft)
The following transactions have been discovered while the accounting elerk checked through the
documents:
The value of a cheque paid to a supplier was wrongly recorded in the cashbook as RM 540.
The cheque was dèbited on the bank statement at the correct value of RM 450.
Interest received of RM 240 and bank charges of RM 530 appeared in the bank statement
but was not updated in the cashbook.
Few cheques sent to suppliers amounting RM 5,600 was still not yet been presented to the
bank.
A customer's cheque for RM 1,390 was returned by the bank as the customer did not have
sufficient funds for payment. This transaction was not yet been updated in the Green Life's
record.
The last page of the paying-in book shows a deposit of RM 10,570 which has not been
credited to the account by the bank.
A cheque RM 100 received from Dina was recorded twice in the cashbook.
Required to prepare:
(a)
The updated cash book as at 31 March 2022.
(b) Bank reconciliation statement as at 31 March 2022.
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