You went for a job interview as an accountant at PKP Bhd. During the interviewing session, you were asked with regards to your ability to do a reconciliation of the bank statement. In confirming your ability, the interviewer handed over the following information for 30 June 2020: (i) The bank statement balance is RM14,070. (ii) The cash account balance is RM15,141. (iii) Outstanding checks amounted to RM2,145. (iv) Deposits in transit are RM3,060. (v) The bank service charge is RM120. (vi) A check for RM95 for supplies was recorded as RM59 in the ledger. REQUIRED: (a) Prepare the bank reconciliation statement of PKP Bhd for 30 June 2020.
You went for a job interview as an accountant at PKP Bhd. During the interviewing session, you were asked with regards to your ability to do a reconciliation of the bank statement. In confirming your ability, the interviewer handed over the following information for 30 June 2020: (i) The bank statement balance is RM14,070. (ii) The cash account balance is RM15,141. (iii) Outstanding checks amounted to RM2,145. (iv) Deposits in transit are RM3,060. (v) The bank service charge is RM120. (vi) A check for RM95 for supplies was recorded as RM59 in the ledger. REQUIRED: (a) Prepare the bank reconciliation statement of PKP Bhd for 30 June 2020.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
You went for a job interview as an accountant at PKP Bhd. During the interviewing session,
you were asked with regards to your ability to do a reconciliation of the bank statement. In
confirming your ability, the interviewer handed over the following information for 30 June
2020:
(i) The bank statement balance is RM14,070.
(ii) The cash account balance is RM15,141.
(iii) Outstanding checks amounted to RM2,145.
(iv) Deposits in transit are RM3,060.
(v) The bank service charge is RM120.
(vi) A check for RM95 for supplies was recorded as RM59 in the ledger.
REQUIRED:
(a) Prepare the
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
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.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education