Answered: The following extract from the cash…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 5.4.3P

See similar textbooks

Related questions

Concept explainers

Question

100%

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.

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

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.

Similar questions