The following information has been extracted from the accounting records a bank statement of ABCJM Ltd as at 31 January 2019: Closing Balance shown on the Bank Statement Cash Receipts of 31 January which deposited on 30 January did not appear on the bank statement Cheques recorded in the cash payments but not yet presented For payment to the Bank Prepare a bank reconciliation statement as at 31 January. $11 450 CR 5,500 3 550

The following information has been extracted from the accounting records a bank statement of ABCJM Ltd as at 31 January 2019: Closing Balance shown on the Bank Statement Cash Receipts of 31 January which deposited on 30 January did not appear on the bank statement Cheques recorded in the cash payments but not yet presented For payment to the Bank Prepare a bank reconciliation statement as at 31 January. $11 450 CR 5,500 3 550

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

prepare the adjusted cash book account. prepare a Bank Reconciliation Statement as at 31 December 2020. state three reasons of dishonored cheques.
Prepare the bank reconciliation statement on 31 May 2021.
Use the following information that was drawn from the books of Ralesego as on 31December 2020 to draw the bank reconciliation statement. Details Amount ‘Pulas’Cash at bank as per cashbook bankcolumn 2,910Unpresented Cheques 730 Bank lodgments 560Credit transfers appearing in the bank 340statement but not entered in the cashbookCash balance as per bank statement 3,420
As on 28 Feb the Cash Book reports a bank balance of RO 10,900; while cheques yet to be presented amount to RO10,780 and deposits yet to be credited by the bank amount to RO15,120. There was dividend collected by the bank RO 1250. What would be the balance as per the Bank Statement? a. RO 13990 b. RO 7810 c. RO 7120 d. RO 5965
The 31 August 2021 bank statement of Bach Ltd has just arrived from United Bank. To prepare Bach’s bank reconciliation, you gather the following data: a) Bach’s Cash account has a balance of $2,900 on 31 August. b) The bank statement includes two dishonoured cheques from customers: B. Smith, $400 and A. Green, $110. c) The following cheques appear in the cash payments journal of Bach but have not yet been cleared by the bank at 31 August: Cheque no. Amount 237 $190 288 170 291 520 294 630 d) Bach collects from a few customers by EFT. The August bank statement lists a $1,300 EFT deposit for a collection on account. e) The bank statement includes two special deposits that Bach hasn’t recorded yet: $970 for dividend revenue, and $80 interest revenue which Bach earned on its bank balance during August. f) The bank statement lists a $30 bank service charge and a $15 excess transaction…
Read and understand the transaction. Prepare a Bank Reconciliation Statement using the following methods: Adjusted Method Book-to-bank Method Bank-to-book Method Use the space provided for each method for you answer. Moonlight Company maintains cash in ODB Bank. The following information was made available for the month of October 2021: The bank statement at the of the month shows ₱10,000. Deposits not yet reflected in the bank statement, ₱84,000. Checks issued but not yet encashed by the payees, ₱65,000. The bank made an error of debiting the account of Moonlight Company, which was actually a debit for Crescent Company, ₱4,000. The ledger shows a cash-in-bank balance of ₱12,000. Notes receivable collected by the bank for Moonlight Company amounted to ₱16,000. Interest earned by Moonlight Company from keeping their cash at ODB Bank is ₱5,000. ODB Bank charged Moonlight Company ₱1,000 service charges directly debited to their account as seen in the…
1.3 Prepare the bank account in the general ledger on 31 May 2021.
The books of VKS Company disclosed a cash in bank balance of P38,295 on December 31, 2021. Meanwhile, the bank statement as of December 31, showed a balance of P71,364. Additional information that might be useful in reconciling the two balances follows:· A note collected by the bank was credited to the company’s account amounting to P180,000. No entry has been made yet in relation to the note.· Supplier checks dated and released December 2021 amounting to P601,278 has not yet cleared the bank.· Receipts of January 2022 totaling P199,000 was recorded by the company during December 2021.· Deposits in transit as of December 31, 2021 amounted to P549,209.What is the adjusted ‘cash in bank’ balance as of December 31, 2021?
None
Your firm’s cash book shows a credit bank balance of $1,240 at 30 April 2021. On comparison with the bank statement, you determine that there are unpresented cheques totalling $450, and a receipt of $140 which has not yet been passed through the bank account. The bank statement shows bank charges of $75 which have not been entered in the cash book.Please provide solution. The balance on the bank statement is: ______ Dr./Cr.
Given this book and bank statement information, create an October bank reconciliation for Arrowhead company. And the journal entries required for the book side. BOOK INFO: Cash Date Debit Credit Balance 10/1/2020 Beginning Balance 8,259.86 10/1/2020 Ck 10102 Accounts Payable 1,374.12 6,885.74 10/2/2020 Ck 10103 Rent 3,420.00 3,465.74 10/2/2020 Ck 10104 Utilities 689.00 2,776.74 10/4/2020 Deposit 3,743.10 6,519.84 10/4/2020 Ck 10105 Advertising 344.21 6,175.63 10/4/2020 Ck 10106 Subscription 102.84 6,072.79 10/9/2020 Ck 10107 Internet 74.97 5,997.82 10/9/2020 Deposit 4,859.47 10,857.29 10/9/2020 Ck 10108 Telephone 221.00 10,636.29 10/9/2020 Deposit 11,339.64 21,975.93 10/12/2020 Ck 10109 Accounts Payable 1,680.00 20,295.93 10/13/2020 Ck 10110 Wages…
complete and correct help will be appreciate answer in text show computation for numbers with explanation