QuestionPrepare the bank reconciliation statement as at 30 April 2021. The bank statement and bank columns in the cash book of King Food Enterprise for the month ofApril 2021 are as follows:Bank Statement for the month of April 2021DateDebitCreditBalanceRM11,895 Cr12,685 Cr11,935 Cr12,400 Cr10,235 Cr9,795 Cr11,330 Cr11,110 Сr11,210 Cr11,450 Cr11,680 Cr11,210 CrAprilRMRMBalance b/dCheque no. 1001Cheque no. 8001Cheque no. 2150Cheque no. 8002Cheque no. 8003Cheque no. 4010Standing orderCredit transfer8790975016465162,16518440231,5352722028100Cheque no. 0300Cheque no. 2050Bank Charges302403023030470 Cash Book (Bank column)Chq. NoChq. No8001RMRM11,895 April 8 WongTradingJayaEnterpriseApril 1 Balance b/d7507Mr Indra10017901580022,16515Cuaca215046518Ammara8003440TradingWingsEnterpriseMarryHouse Club2240101,53530Dewi80042852980052,00016,16519,8053003003,12019,80530Balance c/dMay 1 Balance b/d16,165Additional information:i.King Food Enterprise has recorded cheque number 0300 as RM3,120, while the bank showedthe correct amount of RM240.ii.Cheque number 2050 belonging to Kingi Enterprise has been wrongly credited to King FoodEnterprise by the bank.iii.Cheque number 8005 issued to Marry was wrongly debited by King Food Enterprise in thecash book.

Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Answered: uestion Prepare the bank…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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SP 6 Serial Problem Business Solutions (Algo) LO P3 Santana Rey receives the March bank statement for Business Solutions on April 11, 2022. The March 31 bank statement shows an ending cash balance of $67,666. The general ledger Cash account, Number 101, shows an ending cash balance per books of $68,266 as of March 31 (prior to any reconciliation). A comparison of the bank statement with the general ledger Cash account, Number 101, reveals the following. a. The bank erroneously cleared a $600 check against the company account in March that S. Rey did not issue. The check was actually issued by Business Systems. b. On March 25, the bank statement lists a $57 charge for a safety deposit box. Santana has not yet recorded this expense. c. On March 26, the bank statement lists a $110 charge for printed checks that Business Solutions ordered from the bank. Santana has not yet recorded this expense. d. On March 31, the bank statement lists $36 interest earned on Business Solutions's checking…
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Part ii. Prepare the journal entries resulting from the bank reconciliation
Which option below correctly indicates how an unfavourable balance of the bank account in the general ledger at 31 May 2021 should be dealt with when doing a bank reconciliation? Select one: a. By debiting the bank reconciliation statement as at 31 May 2021 b. By crediting the bank statement for May 2021 c. By crediting the bank reconciliation statement as at 31 May 2021 d. By debiting the bank statement for Please don't provide solution image based thnku
The bank reconciliation prepared by Gatz Company on May 31, 2020, appeared as follows: GATZ COMPANY Bank Reconciliation May 31, 2020 Bank statement balance $ 9,364.35 Book balance $19,639.00 Add: Deposit of May 31 in transit 959.00 $10,323.35 Deduct: Deduct: Outstanding cheques: NSF cheque plus service charge $11,655.65 #876 643.00 #882 1,763.00 2,406.00 Bank service charge 66.00 11,721.65 Adjusted bank balance $ 7,917.35 Adjusted book balance $ 7,917.35 The Cash account in the General Ledger appeared as follows on June 30 (Gatz uses only a General Journal to record transactions): Acct. No. Cash 101 Date Explanation PR Debit Credit Balance 2020 May 31 Balance June 1 Cheque #883 1 Cheque #884 3 Cheque #885 4 Cheque #886 9 Deposit 12 Cheque #887 7,917.35 1,850.00 6,067.35 107.00 5,960.35 618.00 5, 342.35 GJ16 GJ16 GJ16 GJ16 1,917.00 3,425.35 8,011.35 425.15 7,586.20 3,143.00 4,443.20 937.00 3,506.20 7,392.20 2,540.00 4,852.20 1,406.24 3,445.96 950.96 GJ16 4,586.00 GJ16 12 Cheque #888 12…
3. From the following information relating to Bank Şobar, prepare Income Statement for the year ended 31st March 2020. Show the calculations separately. (PREPARED SHEDULES) Particulars Interest on overdraft Establishment Interest on bill discounted R.O 550,000 70,000 300,000 Rent Salaries 25,000 15,000 Interest on savings Printing and stationery Interest on fixed deposits Commission Interest on loan Interest on Borrowing Interest on cash credit Administration's fees Postage and telegram Maintenance expenses General Reserve 80,000 5,900 55,000 90,000 45,000 42,000 275,000 7,000 2,500 8,400 50,000 30.000 Loan Additional information: 1. Provide OMR 50,000 for doubtful debts 2. Provide OMR 120,000 for taxation 3. Rebate on bills discounted on 31-03-20 OMR 60,000 4. Dividend proposed to pay OMR 30,000 5. Last year Profit OMR 100,000
Bank Reconciliation and Related Journal Entries The book balance in the checking account of Lyle's Salon as of November 30 is $3,277.77. The bank statement shows an ending balance of $2,109.00. By examining last month's bank reconciliation, comparing the deposits and checks written per books and per bank in November, an noting the service charges and other debit and credit memos shown on the bank statement, the following were found: a. An ATM withdrawal of $150.00 on November 18 by Lyle for personal use was not recorded on the books. b. A bank debit memo issued for an NSF check from a customer of $19.20. c. A bank credit memo issued for interest of $20.00 earned during the month. d. On November 30, a deposit of $1,186.00 was made, which is not shown on the bank statement. e. A bank debit memo issued for $16.80 for bank service charges. f. Checks No. 549, 561, and 562 for the anounts of $181.00, $24.00, and $9.50, respectively, were written during November but have not yet been received…
What is the current year's accounts payable balance?
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uestion Prepare the bank reconciliation statement as at 30 April 2021.