he bank statement and bank columns in the cash book of King Food Enterprise for the month of april 2021 are as follows: Bank Statement for the month of April 2021 Debit Credit Balance Date April RM RM RM Balance b/d Cheque no. 1001 Cheque no. 8001 Cheque no. 2150 Cheque no. 8002 Cheque no. 8003 Cheque no. 4010 Standing order 11,895 Cr 12,685 Cr 11,935 Cr 12,400 Cr 10,235 Cr 9,795 Cr 11,330 Cr 11,110 Cr 11,210 Cr 11,450 Cr 11,680 Cr 11,210 Cr 8 790 9 750 16 465 16 2,165 18 440 23 1,535 27 220 28 Credit transfer 100 240 Cheque no. 0300 Cheque no. 2050 Bank Charges 30 30 230 30 470
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- The bank columns in the cash book for July 2020 and the bank statement for that month for AAA Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM July 1 Balance b/d 11,895 8 Ah Pek 790 17 Veeta 465 29 Fasihah 1,535 31 Siew Ting 3,120 17,805 July 6 Ah Chin 750 13 Muthu 2,165 17 Sari 440 30 Staff Club 285 31 Balance c/d 14,165 17,805 Bank Statement Date Items Debit Credit Balance July 1 Balance b/d 11,895 8 Cheque 790 12,685 9 Ah Chin 750 11,935 17 Cheque 465 12,400 18 Muthu 2,165 10,235 19 Sari 440 9,795 29 Cheque 1,535 11,330 30 Standing order 220 11,110 31 Mohd Azee:Trader’s Credit…In reconciling the Cash in Bank of Cake Company with the bank statement balance for the month of November 2023, the following data are summarized: Book debits for November, including October CM for note collected, P75,000-P850,000 Book credits for November, including NSF of P20,000 and service charge of P600 for October- P620,000 Bank credits for November including CM for November for bank loan of P100,000 and October deposit in transit for P80,000-P700,000 Bank Debits for November including October outstanding checks of P200,720 and November service charge of P180- P650,000 What is the amount of outstanding checks for November?*The bank columns in the cash book for July 2020 and the bank statement for that month for AAA Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM July 1 Balance b/d 11,895 July 6 Ah Chin 750 8 Ah Pek 790 13 Muthu 2,165 17 Veeta 465 17 Sari 440 29 Fasihah 1,535 30 Staff Club 285 31 Siew Ting 3,120 31 Balance c/d 14,165 17,805 17,805 Bank Statement Date Items Debit Credit Balance July 1 Balance b/d 11,895 8 Cheque 790 12,685 9 Ah Chin 750 11,935 17 Cheque 465 12,400 18 Muthu 2,165 10,235 19 Sari 440 9,795 29 Cheque 1,535 11,330 30 Standing order 220 11,110 31 Mohd Azee : Trader’s Credit 450 11,560 31 Bank charges 350 11,210 Required: Prepare the updated cashbook Prepare…
- The bank columns in the cash book for July 2020 and the bank statement for that month for AAA Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM July 1 Balance b/d 11,895 July 6 Ah Chin 750 8 Ah Pek 790 13 Muthu 2,165 17 Veeta 465 17 Sari 440 29 Fasihah 1,535 30 Staff Club 285 31 Siew Ting 3,120 31 Balance c/d 14,165 17,805 17,805 Bank Statement Date Items Debit Credit Balance July 1 Balance b/d 11,895 8 Cheque 790 12,685 9 Ah Chin 750 11,935 17 Cheque 465 12,400 18 Muthu 2,165 10,235 19 Sari 440 9,795 29 Cheque 1,535 11,330 30 Standing order 220 11,110 31 Mohd Azee : Trader’s Credit 450 11,560 31 Bank charges 350 11,210 Required: Prepare the updated cashbookThe bank columns in the cash book for July 2020 and the bank statement for that month for AAA Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM July 1 Balance b/d 11,895 July 6 Ah Chin 750 8 Ah Pek 790 13 Muthu 2,165 17 Veeta 465 17 Sari 440 29 Fasihah 1,535 30 Staff Club 285 31 Siew Ting 3,120 31 Balance c/d 14,165 17,805 17,805 Bank Statement Date Items Debit Credit Balance July 1 Balance b/d 11,895 8 Cheque 790 12,685 9 Ah Chin 750 11,935 17 Cheque 465 12,400 18 Muthu 2,165 10,235 19 Sari 440 9,795 29 Cheque 1,535 11,330 30 Standing order 220 11,110 31 Mohd Azee : Trader’s Credit 450 11,560 31 Bank charges 350 11,210 Required: Prepare the bank reconciliation…The following information is produced by comparing the cash deposits and withdrawals recorded bythe S&W Windows Ltd for the month with their most recent bank statement received at 30 June2019:a. S&W Windows Ltd’ cash at bank ledger at 30 June 2019 is: $75,864b. Credit balance as per bank statement as at 30 June 2019 is: $101,160c. Bank statement shows an electronic transfer from a customer of $3,864d. Deposits in transit, $12,540e. Interest earned on bank account, $75f. Unpresented cheques, $37,407g. Service charge included in bank statement, $150h. Cheque for insurance expense, $5,370 incorrectly recorded in books as $5,910i. A dishonoured cheque written by a client Jim Smith, $3,900The entity doesn’t use special journals for record keeping. The entity prepares bank reconciliationstatement at the end of each month.Required:a) Prepare a bank reconciliation statement for S&W Windows Ltd at 30 June 2019. b) Discuss why a bank reconciliation is still necessary even most of the…
- The bank columns in the cash book for June 2019 and the bank statement for that month for Phillips Hardware Company Ltd are as follows:DrCash BookCr 2019 $2019 $ 1-JunBalance b/d4,2305-JunR.Red540 7-JunP. Ryan18612-JunJ. Rebus1,557 16-JunG. Grey22516-JunY.Yale123 28-JunJ. Jim67229-JunBlister Disco66 30-JunT. Fling1,74630-JunBalance c/d4,773 7,059 7,059 Bank Statement June 2019 DrCrBalance $$$ 1Balance b/d 4,230 7Cheque 1864,416 5R.Red540 3,876 16Cheque 2254,101 17J. Rebus1,557 2,544 18Y.Yale123 2,421 28Cheque 6723,093 29SLM standing order156 2,937 30G.Rice: trader's credit 1923,129 30Bank charges129 3,000 As the accountant, you have been asked to do the following: a) Prepare an updated cashbook for the month b) Prepare a bank reconciliation statement for the month c) Advise the directors of Phillips Hardware how they can use theinternal control measures listed below to mitigate against error and fraud in the business. 1: Physical Observation 2: Authorization and Approval 3:…The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 6 Peypei 230 20 Ceria 265 31 Baiti 325 31 Balance c/d 1,682 2,502 Dec 1 Balance b/d 1,900 10 Luna 304 19 Wilson 261 29 Cikmah 37 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 13 Luna 304 1,974 20 Cheque 265 1,709 22 Wilson 261 1,970 30 Tox:Standing Order 94 2,064 31 Rina:Trader’s Credit 102 1,962 31 Bank charges 72 2,034 Required: a) Prepare the updated cashbook. b) Prepare the bank reconciliation statement as at 31 December 2020The bank column in the cash book for Mac 2020 and the bank statement for that monthfor Keris Enterprise are as follows: Cash Book (Bank Account only) 2020 RM 2020 RMMac 16 Param 292 Mac 1 Balance b/d 4,20021 Joseph 369 6 Maria 18431 Opie 192 30 Melati 16031 Balance c/d 4,195 30 Suria 5045,048 5,048 Bank Statement Date Items Debit Credit BalanceMac 1 Balance 4,2008 Maria 184 4,38416 Cheque 292 4,09220 Melati 160 4,25221 Cheque 369 3,88331 Gigih Enterp : Trader’s credit 88 3,79531 TYF: standing order 32 3,82731 Bank charges 19 3,846 Required: b) Prepare the bank reconciliation statement as at 31 Mac 2020.
- The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 6 Peypei 230 Dec 1 Balance b/d 1,900 20 Ceria 265 10 Luna 304 31 Baiti 325 19 Wilson 261 31 Balance c/d 1,682 29 Cikmah 37 2,502 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 13 Luna 304 1,974 20 Cheque 265 1,709 22 Wilson 261 1,970 30 Tox : Standing Order 94 2,064 31 Rina : Trader’s Credit 102 1,962 31 Bank charges 72 2,034 Required: Prepare the updated cashbookThe bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 6 Peypei 230 Dec 1 Balance b/d 1,900 20 Ceria 265 10 Luna 304 31 Baiti 325 19 Wilson 261 31 Balance c/d 1,682 29 Cikmah 37 2,502 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 13 Luna 304 1,974 20 Cheque 265 1,709 22 Wilson 261 1,970 30 Tox : Standing Order 94 2,064 31 Rina : Trader’s Credit 102 1,962 31 Bank charges 72 2,034 Required Prepare the bank reconciliation statement as at 31 DecemberBelow is information about Adam Ltd’s cash position for the month of May 2020. The general ledger Cash at Bank account had a balance of $42,400 on 30 The cash receipts journal showed total cash receipts of $585,408 for The cash payments journal showed total cash payments of $530,148 for The June bank statement reported a bank balance of $82,368 on 30 Outstanding cheques at the end of May were: 221, $2896; no. 225, $308; and no. 230, $820. Cash receipts of $20,180 for 31 May were not included in the May bank A dishonoured cheque written by a client Jim Ltd, $272 A credit for an electronic transfer from a customer of $1,288 Interest earned, $88 Account and transaction fees, $240. Required: Update the cash receipts and cash payments journals by adding the necessary adjustments and calculate the total cash receipts and cash payments for May. Post from cash receipts and cash payments journals to the Cash at Bank ledger account and balance the account. Prepare a bank reconciliation…