Question 3H. Angula, for whom you work as a trainee accountant, has provided you with the followingbank statement and bank account details in respect of the month ended 31 May 2017.STATEMENT OF ACCOUNT - YOUR BANKLTD Statement date - 31 May 2017. AccountNo 7654321DateParticulars01-May-17 Balance forward03-May-17 Cheque 59603-May-17 Lodgment06-May-17 Cheque 59706-May-17 Direct debit12-May-17 Credit transfer13-May-17 Cheque 60014-May-17 Cheque 60116-May-17 Lodgment19-May-17 Cheque 59923-May-17 Bank charges for May 201725-May-17 Quarterly interest received27-May-17 Dishonoured cheque27-May-17 Cheque 59830-May-17 Cheque 60331-May-17 Lodgment31-May-17 Standing order: rent third quarter 2017DebitN$1 250601 0107106 0149 00221180013 0452 52413 500CreditN$7 0702 3304 500317 250BalanceN$27 97026 72033 79033 73032 72035 05034 34028 32632 82623 82423 61323 64422 8449 7997 27514 5251 025CrCrCrCrCrCrCrCrCrCrCrCrCrCrCrCrCr The books and records of H. Angula show the followings transactions through the bankaccount for the month of May 2017:Date1/05/17ReceiptsBalance12/05/17 Deposit16/05/17 Deposit28/05/17 Deposit31/05/17 Deposit1/6/2017 BalanceN$33 7902 3304 5007 350411052 08014 779Date4/05/176/05/1710/05/1711/05/1712/05/1718/05/1720/05/1730/05/1731/05/17PaymentsCheque 597Cheque 598Cheque 599Cheque 600Cheque 601Cheque 602Cheque 603Cheque 604BalanceN$6013 0009002710601459492 5244214 77952 080You are required to:i. Reconcile the opening balance as per the cash book to the balanceas per the bank statement.ii. Prepare the adjusted cash book for the month of May 2017.iii. Prepare a statement on 31 May 2017, reconciling the adjusted cashbook with the bank statement balance.

Bank reconciliation statement is a statement to reconcile cash book with bank statement. In…

The books and records of H. Angula show the followings transactions through the bank account for the month of May 2017: Date 1/05/17 Receipts Balance 12/05/17 Deposit 16/05/17 Deposit 28/05/17 Deposit 31/05/17 Deposit 1/6/2017 Balance N$ 33 790 2 330 4 500 7 350 4110 52 080 14 779 Date 4/05/17 6/05/17 10/05/17 11/05/17 12/05/17 18/05/17 20/05/17 30/05/17 31/05/17 Payments Cheque 597 Cheque 598 Cheque 599 Cheque 600 Cheque 601 Cheque 602 Cheque 603 Cheque 604 Balance N$ 60 13 000 9002 710 6014 5949 2524 42 14 779 52 080 You are required to: i. Reconcile the opening balance as per the cash book to the balance as per the bank statement. ii. Prepare the adjusted cash book for the month of May 2017. iii. Prepare a statement on 31 May 2017, reconciling the adjusted cash book with the bank statement balance.

The books and records of H. Angula show the followings transactions through the bank account for the month of May 2017: Date 1/05/17 Receipts Balance 12/05/17 Deposit 16/05/17 Deposit 28/05/17 Deposit 31/05/17 Deposit 1/6/2017 Balance N$ 33 790 2 330 4 500 7 350 4110 52 080 14 779 Date 4/05/17 6/05/17 10/05/17 11/05/17 12/05/17 18/05/17 20/05/17 30/05/17 31/05/17 Payments Cheque 597 Cheque 598 Cheque 599 Cheque 600 Cheque 601 Cheque 602 Cheque 603 Cheque 604 Balance N$ 60 13 000 9002 710 6014 5949 2524 42 14 779 52 080 You are required to: i. Reconcile the opening balance as per the cash book to the balance as per the bank statement. ii. Prepare the adjusted cash book for the month of May 2017. iii. Prepare a statement on 31 May 2017, reconciling the adjusted cash book with the bank statement balance.

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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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

The books and records of H. Angula show the followings transactions through the bank
account for the month of May 2017:
Date
1/05/17
Receipts
Balance
12/05/17 Deposit
16/05/17 Deposit
28/05/17 Deposit
31/05/17 Deposit
1/6/2017 Balance
N$
33 790
2 330
4 500
7 350
4110
52 080
14 779
Date
4/05/17
6/05/17
10/05/17
11/05/17
12/05/17
18/05/17
20/05/17
30/05/17
31/05/17
Payments
Cheque 597
Cheque 598
Cheque 599
Cheque 600
Cheque 601
Cheque 602
Cheque 603
Cheque 604
Balance
N$
60
13 000
9002
710
6014
5949
2 524
42
14 779
52 080
You are required to:
i. Reconcile the opening balance as per the cash book to the balance
as per the bank statement.
ii. Prepare the adjusted cash book for the month of May 2017.
iii. Prepare a statement on 31 May 2017, reconciling the adjusted cash
book with the bank statement balance.

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