You have been provided with the following information from the books of Zebra Traders: Information from the Bank Reconciliation Statements on the 30th April 2021 R Balance as per bank statement (Favourable) Add: Outstanding deposits: 17 200 10 April 2021 8 500 30 April 2021 28 500 Less: Outstanding cheques 2001: Dated 10 October 2020 (2 220) 2651: Dated 27 April 2021 (4 150) 2691: Dated 10 May 2021 (11 330) Balance as per bank account (Favourable) 36 500 Cheque 2651 appeared on the bank statement for May 2021. Deposit on the 30th April appeared on the May 2021 bank statement. Cheque 2001 has to be cancelled as the charity organisation that it was given to no longer exists.
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- The following information was taken from the books of Underwood Traders for December 2019and January 2020:Items appearing on the bank reconciliation statement of Underwood Traders as at 31 December 2019Bank Reconciliation Statement of Underwood Traders as at 31st December 2019Details Amount (R) Balance per bank statement (favourable) 405 670Outstanding cheques: No CQ221 6 780No CQ276 12 450No CQ298 21 560No CQ305 13 240 Outstanding deposit: DS205 18 700Correction of bank error on Deposit DS200‐ amount overstated by Bank 2 500Balance per Bank account( favourable) 367 840Cheque counterfoils of Underwood Traders‐ January 2020Date Cheque Counterfoil no. Amount (R)3 CQ306 6 54012 CQ307 2 41016 CQ308 12 50017 CQ309 23 56020 CQ310 1 47021 CQ311 3 26022 CQ312 15 32023 CQ313 27 65026 CQ314 8 95029 CQ315 2 250103 91020 2020Deposit slips of Underwood Traders‐ January 2020Date Deposit Slip no. Amount (R)5 DS206 8 90012 DS207 32 40018 DS208 17 43020 DS209 9 65021 DS210 27 89022 DS211 36 540132…Prepare the bank reconciliation statement as 31 July 2021 for Mimosa General Dealers. Hint: Begin the reconciliation statement with the balance as per the adjusted bank account per Q.2.1 above. Clearly indicate if the balance per the bank statement amount you arrive at is a favourable or unfavourable balance as a mark will be awarded for this.The following information was taken from the books of Zia Traders on 30 June 2019: 1. The items appearing on the bank reconciliation statement of Zia Traders as at 31 May 2019. Details Amount (R) Balance as per bank statement (unfavourable) 25400 Oustanding deposit 5700 Outstanding cheques: CHQ116 1430 CHQ135 2780 Correction of incorrect cheque(see note 2.5 below) 570 Balance as per bank account ? A comparison of the cashbooks for June, the above bank reconciliation statement and the bank statement for June showed the following: 2.1 Provisional totals in the cashbooks on 30 June: -Cashbook Receipts R 113 200 -Cashbook Payments R 96 000 2.2 The outstanding deposit at the end of May for R5 700 appeared on the bank statement on 5 June 2019. 2.3 Cheque number CHQ135 appeared on the bank statement on 7 June for R3 100. An investigation revealed that the bank statement amount was correct. 2.4…
- The following information was taken from the books of Zia Traders on 30 June 2019: The items appearing on the bank reconciliation statement of Zia Traders as at 31 May 2019. Details Amount (R) Balance as per bank statement (unfavourable) 25400 Oustanding deposit 5700 Oustanding cheques: CHQ116 1430 CH135 2780 Correction of incorrect cheque (see note 2.5 below) 570 Balance as per bank account ? A comparison of the cashbooks for June, the above bank reconciliation statement and the bank statement for June showed the following: 2.1 Provisional totals in the cashbooks on 30 June: -Cashbook Receipts R 113 200 -Cashbook Payments R 96 000 2.2 The outstanding deposit at the end of May for R5 700 appeared on the bank statement on 5 June 2019. 2.3 Cheque number CHQ135 appeared on the bank statement on 7 June for R3 100. An investigation revealed that the bank…The following information was taken from the books of Zia Traders on 30 June2019: 1. The items appearing on the bank reconciliation statement of Zia Traders asat 31 May 2019.Details Amount(R)Balance as per bank statement (unfavourable) 25 400Outstanding deposit 5 700Outstanding cheques: CHQ116 1 430CHQ135 2 780Correction of incorrect cheque (see note 2.5 below) 570Balance as per bank account ?2. A comparison of the cashbooks for June, the above bank reconciliationstatement and the bank statement for June showed the following:2.1 Provisional totals in the cashbooks on 30 June: Cashbook Receipts R 113 200 Cashbook Payments R 96 0002.2 The outstanding deposit at the end of May for R5 700 appeared onthe bank statement on 5 June 2019.2.3 Cheque number CHQ135 appeared on the bank statement on 7 June for R3 100. An investigation revealed that the bankstatement amount was correct.2.4 Cheque number CHQ116 still did not appear on the bank statementfor June 2019. The cheque was originally…The following information was taken from the books of Zia Traders on 30 June 2019: 1. The items appearing on the bank reconciliation statement of Zia Traders as at 31 May 2019 A comparison of the cashbooks for June, the above bank reconciliation statement and the bank statement for June showed the following: 2.1 Provisional totals in the cashbooks on 30 June: -Cashbook Receipts R 113 200 -Cashbook Payments R 96 000 2.2 The outstanding deposit at the end of May for R5 700 appeared on the bank statement on 5 June 2019. 2.3 Cheque number CHQ135 appeared on the bank statement on 7 June for R3 100. An investigation revealed that the bank statement amount was correct. 2.4 Cheque number CHQ116 still did not appear on the bank statement for June 2019. The cheque was originally written out to Gift for the Needy as a donation on 20 November 2018. 2.5 The correction of the incorrect cheque for R570 refers to a cheque that was incorrectly debited twice by the bank. This error has not been…
- Use the information taken from BM traders to complete the following: 1.the bank reconciliation as at 31 july 2019Use the information taken from BM traders to complete the following: 1.the bank account for huly 2019 (note that you need to calculate the opening balance of the bank account on 1 july 2019). Balance the account. 2.the bank reconciliation statement as at 31 July 2019Ablema has provided you with the following bank statement and bank account details in respect of the month ended 31 January 2018. Statement date - 31 January, 2018. Account No 1452800 Date Particulars Debit Credit Balance GH¢ GH¢ GH¢ 01-Jan-18 Balance forward 67,580 Cr 06-Jan-18 Cheque 597 120 67,460 Cr 06-Jan-18 Direct debit 2,020 65,440 Cr 12-Jan-18 Credit transfer 4,660 70,100 Cr 13-Jan-18 Cheque 600 1,420 68,680 Cr 14-Jan-18 Cheque 601 12,028 56,652 Cr 16-Jan-18 Lodgement 9,000 65,652 Cr 19-Jan-18 Cheque 599 18,004 47,648 Cr 23-Jan-18 Bank charges for December 2017 422 47,226 Cr 25-Jan-18 Quarterly interest received 62 47,288 Cr 27-Jan-18 Dishonoured cheque 1,600 45,688 Cr 27-Jan-18 Cheque 598 26,090 19,598 Cr 30-Jan-18 Cheque 603 5,048 14,550 Cr 31-Jan-18 Lodgement 14,500 29,050 Cr 31-Jan-18 Standing order: rent first quarter 2018 27,000 2,050 Cr The books and records of Ablema show the followings transactions through the bank account for the month of January 2018: Date Receipts…
- ASSESSMENT Prepare a bank reconciliation statement for Juan Company for the month of April 2020, using the following information: • The bank statement for Juan Company shows a balance per bank of P15,907.45 on April 30,2020. On this date the balance of cash per books is P11,589.45 • Additional information are provided below: o Deposits in transit: April 30 deposits (received by the bank on May 1) P2,201.40 o Outstanding checks: No.453 – P3,000.00 No.457 - P1,401.30 No.460 – P1,502.70 Errors: Juan wrote check no.443 for P1,226.00 and the bank correctly paid the amount. However, he recorded the check as P1,262.00. Bank me da: Debit - NSF check from Pedro P425.60 Debit - Charge for printing company checks P30.00 Credit – Collection of notes receivable for P1,000.00 plus interest earned of P50.00, less bank collection fee of P15.00Given 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…The following information of Mimosa General Dealers for July 2021 has been provided to you: • The debit balance per the bank account at 31 July 2021 was R6 250. • Bank charges of R130 appeared on the bank statement. • A deposit had been recorded on the bank statement as R620 instead of R820. The deposit slip submitted to the bank had been correctly prepared and recorded in the cashbook. • The bank statement showed a deposit of R600, of which Mimosa General Dealers had no details. It was determined that this deposit was from a debtor who had deposited the amount directly into the bank account of the business. • A receipt for a payment received from the insurance company of R1 800 was recorded on the incorrect side of the cashbook. • The DSTV subscription payable by the business for R90 was one of the debits on the bank statement. • An insurance premium direct debit of R300 appeared on the bank…