5. On 30t September, 2012, the Cash Book of Kumipreko Enterprise showed a debit balance of GH¢1,560, 000. The Bank Statement of the business at the same date showed a credit balance of GH¢1,130,000. On comparing the Cash Book with the bank statement, the following differences were found; 2oth A cheque for GH¢720,000 had been paid into the bank on 30t September but was not credited by the bank until the following day Cheques totalling GH¢1,180,000 had been drawn but not presented to the bank for payment Bank charges of GH¢290,000 was debited against the bank statement but did not appear in the Cash Book Dividend of GH¢960,000 collected and credited by the bank on behalf of Kumipreko Enterprise did not appear in the Cash Book Payments under standing orders for an amount of GH¢500,000 had been made but did not reflect in the Cash Book A cheque for GH¢1,060,000 paid in was dishonoured, and marked Refer to Drawer. This was not captured by the Cash Book. Required: Draw up an adjusted Cash Book and Bank Reconciliation Statement

5. On 30t September, 2012, the Cash Book of Kumipreko Enterprise showed a debit balance of GH¢1,560, 000. The Bank Statement of the business at the same date showed a credit balance of GH¢1,130,000. On comparing the Cash Book with the bank statement, the following differences were found; 2oth A cheque for GH¢720,000 had been paid into the bank on 30t September but was not credited by the bank until the following day Cheques totalling GH¢1,180,000 had been drawn but not presented to the bank for payment Bank charges of GH¢290,000 was debited against the bank statement but did not appear in the Cash Book Dividend of GH¢960,000 collected and credited by the bank on behalf of Kumipreko Enterprise did not appear in the Cash Book Payments under standing orders for an amount of GH¢500,000 had been made but did not reflect in the Cash Book A cheque for GH¢1,060,000 paid in was dishonoured, and marked Refer to Drawer. This was not captured by the Cash Book. Required: Draw up an adjusted Cash Book and Bank Reconciliation Statement

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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