1)The Bank pass book of Mr. Z showed an overdraft of $ 22,757 on 31st March, 2023. Also show the working notes. Going through the pass book the accountant found the following. (a) A cheque of $ 1,060 credited in the pass book on March 28 is dishonored and debited in the pass book on April 1, 2023. There was no entry in the cash book about the dishonor of the cheque until 15th April. (b) Bank had credited his account with $ 2,300 for interest collected by them on his behalf but the same had not been entered in his pass book. (c) Out of $ 21,600 deposited in by Mr. X in cash and by the cheque on 31st March, cheque amount to $6,200 were collected on 7th April. (d) Out of the cheque amount to $ 8,500 drawn by him on 27th March, a cheque for $2,200 was encashed on 7rd April. Prepare a Bank Reconciliation Statement on 31st March, 2023.

1)The Bank pass book of Mr. Z showed an overdraft of $ 22,757 on 31st March, 2023. Also show the working notes. Going through the pass book the accountant found the following. (a) A cheque of $ 1,060 credited in the pass book on March 28 is dishonored and debited in the pass book on April 1, 2023. There was no entry in the cash book about the dishonor of the cheque until 15th April. (b) Bank had credited his account with $ 2,300 for interest collected by them on his behalf but the same had not been entered in his pass book. (c) Out of $ 21,600 deposited in by Mr. X in cash and by the cheque on 31st March, cheque amount to $6,200 were collected on 7th April. (d) Out of the cheque amount to $ 8,500 drawn by him on 27th March, a cheque for $2,200 was encashed on 7rd April. Prepare a Bank Reconciliation Statement on 31st March, 2023.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 1PB

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