Answered: Required: a) Prepare Lorato’s updated…

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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Question

The following information is found in Lorato’s books as at June 2018.

Dr Cash book as at June 2018 Cr
2015
June 1 Balance b/d 1740
June 7 T J Motho 88
June 22 J Ellias 73
June 31 K Wetsho 249
June 31 M Barena 178
2328
2015
June 8 A Ditso 349
June 15 R Madiso 33
June 28 G Small 115
June 31 Balance c/d 1831
2328

Banks Statement
2015 Dr (P) Cr (P) Balance (P)
June 1 Balance b/d 1 740
June 7 Cheque 88 1 828
June 11 A Ditso 349 1 479
June 20 R Madiso 33 1 446
June 22 Cheque 73 1 519
June 31 Credit Transfer: J
Warona

54 1 573
June 31 Bank charges 22 1 551
Required:

a) Prepare Lorato’s updated cash book for June 30 2018
b) Prepare Lorato’s bank reconciliation statement as on 30 June 2018

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