dineshbakshi.com

  • Increase font size
  • Default font size
  • Decrease font size
You are here: IGCSE Accounting Verification of accounting records Revision Notes Bank reconciliation statement | Solved example-1

Want to find out more ? Type here

download-mindmaptry-crosswordtry-gapfillwatch-presentation

Bank reconciliation statement | Solved example-1

E-mail Print

Bank Reconciliation Statement Solved example 1

Sunil’s Cash Book (Bank Column only) for the month of January 2008 was as follows:

 

 

Dr.
Amt ($)

 

 

Cheque No.

Cr.
Amt. ($)

Jan 1

Balance b/d

600

Jan 5

Ramesh

10110

410

Jan 9

Cash

420

Jan 24

Sudhir

10111

290

Jan 31

Cash

720

Jan 30

Drawings

10112

250

 

 

 

Jan 31

Balance c/d

 

790

 

 

1740

 

 

 

1740

He received the following Statement from his Bank at the beginning of February 2008

Date

Details

Payments ($)

Receipts ($)

Balance
($)

Jan 1 2008

Balance brought forward

 

 

700

Jan 7

Cheque 10110

410

 

290

Jan 9

Cheque 10109 hint-1

100

 

190

Jan 9

Cash

 

420

610

Jan 15

Banker’s Order-Insurance hint-2

140

 

470

Jan 30

Cheque 10112

250

 

220

Jan 31

Deposit Interest

 

80

300

You are required to :

  1. Bring the Cash Book up to date, starting with the balance carried down of $790 on 31 January 2008.
  2. Prepare a Statement, under its proper titles, to reconcile the difference between your amended Cash Book balance and the balance in the Bank Statement on 31 January 2008.

Hint 1

Compare all cheques in Bank Statement with the Cash Book. 10109 does not appear in Cash Book. Looking at the Cheque no. we can know that it is cheque drawn out from the previous month but presented by payee in January. No adjustment required in the books.

Hint 2

This is insurance payment made by bank on behalf of Sunil.


Solution Question 1

Facebook Comments

Share on Myspace

Content of this website is protected by copyright laws. Please refer to our terms of use

Download our Android app