Answered: The following extract from the cash…

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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The following extract from the cash book of Jon for the month of January shows the
company’s bank transactions:
RM RM
01 Jan Balance b/f 600 18 Jan Ali 145
13 Jan Uno 224 28 Jan PBA 72
31 Jan Latif 186 30 Jan TNB 109
31 Jan Balance c/f 684
1,010 1,010
…3/-
3
The company’s bank statement for the same period is as follows:
Debit (RM) Credit (RM) Balance (RM)
01 Jan Balance 635
03 Jan Halim 35 600
13 Jan Uno 224 824
23 Jan Ali 145 679
31 Jan Standing order 30 649
Required:
a. Prepare a corrected cash book using the information given above

b. Draw up a bank reconciliation statement.

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