The following transactions occurred during the month of October 2021. Date Transactions 1 2 3 4 5 6 7 9 11 12 13 14 Balance brought forward from last month: Cash RM 295; Bank RM 4,240. Cash sales RM310. Took RM 200 out of the cash register and paid it into the bank Farid paid us by cheque RM194. We paid for postage stamps in cash RM80. Bought office equipment by cheque RM310. We paid Roslan by cheque RM94. Received business refund by cheque RM115. Withdrew RM 150 from the bank for business use. Paid wages in cash RM400. Cash sales RM430. Paid motor expenses by cheque RM81.
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- 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…A. Fill out the bank deposit slip given the following details: A P5,000 check received is written on the deposit slip. 1. Date of Deposit - August 20, 20X5 2. Type of Deposit - Checking 3. Currency - Peso 4. Account Name - ABC Company 5. Account Number - 00397 6. Drawee Bank - BPI 7. Check Number - 01276 8. Amount - P5000 9. Total Deposit - P5000The following information of Mimosa General Dealers for July 2021 has been provided to you: • The debit balance per the bank account at 31 July 2021 was R6 250. • Bank charges of R130 appeared on the bank statement. • A deposit had been recorded on the bank statement as R620 instead of R820. The deposit slip submitted to the bank had been correctly prepared and recorded in the cashbook. • The bank statement showed a deposit of R600, of which Mimosa General Dealers had no details. It was determined that this deposit was from a debtor who had deposited the amount directly into the bank account of the business. • A receipt for a payment received from the insurance company of R1 800 was recorded on the incorrect side of the cashbook. • The DSTV subscription payable by the business for R90 was one of the debits on the bank statement. • An insurance premium direct debit of R300 appeared on the bank…
- A comparison of the cashbooks for June, the above bank reconciliationstatement and the bank statement for June showed the following: 2.1 Provisional totals in the cashbooks on 30 June: Cashbook Receipts R 113 200 Cashbook Payments R 96 0002.2 The outstanding deposit at the end of May for R5 700 appeared onthe bank statement on 5 June 2019.2.3 Cheque number CHQ135 appeared on the bank statement on 7 June for R3 100. An investigation revealed that the bankstatement amount was correct.2.4 Cheque number CHQ116 still did not appear on the bank statementfor June 2019. The cheque was originally written out to Gift for theNeedy as a donation on 20 November 2018.2.5 The correction of the incorrect cheque for R570 refers to a chequethat was incorrectly debited twice by the bank. This error has notbeen rectified by the bank.2.6 The bookkeeper is in possession of two cheques that she has notentered as she is unsure of what to do: CHQ 141 for R5 400 issued to Gilford’s Furnisher’s dated 15July…The following transactions by Africa Traders occurred during February 2021: The provisional total of the bank column in the Cash receipts journal was R9 500. The provisional total the bank column in the Cash payments journal was R7 750. The bank balance in the general ledger amounted to R6 500 (favourable) on 1 February 2021. A capital contribution of R1 000 was deposited directly into the bank account of Africa Traders. Made an electronic funds transfer to the amount of R1 427 to settle the monthly telephone bill. Bank charges for the month were R180. SA Dealers deposited R550 directly into Africa Traders bank account. Debit order in favour of SA Computers of R350 for monthly computer services. Interest of R250 received on bank favourable. What will the new total of the bank column in the Cash Payments Journal of Africa Traders at 28 February 2021 be? NB: Instructions 1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72) 2. Use a full stop to…QUESTION 3 Megah Berani Enterprise received monthly bank statement for the month of December 2021. The bank statement showed the following: MAYBANK BERHAD BANK STATEMENT AS AT 31 DECEMBER 2021 Cheque No. Date Particulars Debit Credit Balance RM RM RM 1 Dec Opening balance 75,000 4 Dec Credit transfer 6 Dec Cheque 8,800 83,800 123475 12,000 71,800 6 Dec Deposit BMB213492 34,000 105,800 7 Dec Deposit CIMB247022 43,000 148,800 16 Dec Deposit BIB121331 29,500 178,300 17 Dec Cheque return 18 Dec Cheque BIB121331 29,500 148,800 BSN249081 10,000 158,800 23 Dec Cheque 123477 45,000 113,800 29 Dec Standing order 16,000 97,800 30 Dec Cheque 123478 21,000 76,800 30 Dec Deposit 31 Dec Bank Charges BIB346483 6,000 82,800 250 82,550 31 Dec Dividend/interest 275 82,825 31 Dec Credit transfer 5,300 88,125 The cash book of Megah Berani Enterprise is as below; Cash Book (Bank Column) RM Date Details Date Dec. Details Dec 6 TNB- Electricity Chq. No. 123475 15 Kaktus Trading Chq. No. 123476 23 Salary &…
- The following information of Mimosa General Dealers for July 2021 has been provided to you: •The debit balance per the bank account at 31 July 2021 was R6 250. •Bank charges of R130 appeared on the bank statement. •A deposit had been recorded on the bank statement as R620 instead of R820. The deposit slip submitted to the bank had been correctly prepared and recorded in the cashbook. •The bank statement showed a deposit of R600, of which Mimosa General Dealers had no details. It was determined that this deposit was from a debtor who had deposited the amount directly into the bank account of the business. •A receipt for a payment received from the insurance company of R1 800 was recorded on the incorrect side of the cashbook. •The DSTV subscription payable by the business for R90 was one of the debits on the bank statement. •An insurance premium direct debit of R300 appeared on the bank statement in July. Upon enquiring with the bank it was determined that the premium should have been…The following information was included in the bank reconciliation for EEE Company for October and November 2020: Checks and charges recorded by bank in November, including a November service charge of P10,000 and NSF check of P50,000 1,375,000 Service charge made by in October and recorded by depositor in November 5,000 Total credits to cash in all journals during November 1,550,000 Customer's NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) 100,000 Outstanding checks on October 31,2020 that cleared in November 575,000 5. What is the total amount of outstanding checks on November 30,2020?QI AL- Kauther Company deposits all receipts and makes all payments by check. The following information is available from the cash records. 1- The bank statement for August 2014 shows an ending balance of $ 3490. 2- On August 31 the bank statement shows charges of $35 for the service charge for maintaining the checking account. 3- On August 28 the bank statement shows a return item of $ 100 plus a related bank fee of 10$. The return item is a customer's check that was returned because of insufficient funds. The check was also marked "do not redeposit." 4- The bank statement shows a charge of $80 for check printing on August 20. 5- The bank statement shows that $8 was added to the checking account on August 31 for interest earned by the company during the month of August. 6- The bank statement shows that a note receivable of $1,000 was collected by the bank on August 29 and was deposited into the company's account. On the same day, the bank withdrew $40 from the company's account as a…
- Epto Ergo's bank statement from Crypto Bank at July 31, 2020, gives the following information. $18,400 Balance, July 1 August deposits Checks cleared in July Bank debit memorandum: $ Safety deposit box fee Service charge Balance, July 31 71,000 25 68,678 50 Bank credit memorandum: 20,692 Interest earned 45 A summary of the Cash account in the ledger for July shows the following: balance, July 1, $18,700; receipts $74,000; disbursements $73,570; and balance, July 31, $19,130. Analysis reveals that the only reconciling items on the June 30 bank reconciliation were a deposit in transit for $4,800 and outstanding checks of $4,500. In addition, you determine that there was an error involving a company check drawn in July: A check for $400 to a creditor on account that cleared the bank in July was journalized and posted for $4. Instructions a) Determine deposits in transit. b) Determine outstanding checks. (Hint: You need to correct disbursements for the check error.) c) Prepare a bank…Fill out the bank deposit slip given the following details:A P5,000 check received is written on the deposit slip.1. Date of Deposit - August 20, 20X52. Type of Deposit - Checking3. Currency - Peso4. Account Name - ABC Company5. Account Number - 003976. Drawee Bank - BPI7. Check Number - 012768. Amount - P50009. Total Deposit - P5000The following is a summary of the cash book of High Ltd for March 2020: GH¢ GH¢ Opening balance b/d 4,120 Payments 46,560 Receipts 45,320 Closing balance c/d 2880 49,440 49,440 On the investigation you discover that at 31 March 2020: The last page of the paying-in books a deposit of GH¢1,904 which has not yet been credited by the bank. Two cheques paid to suppliers for GH¢642 and GH¢1,200 have not yet been presented to the bank. Dividends received of the GH189 are shown on the bank statement but not entered in the cash book. Bank charges of GH¢105 shown on the bank statement have not been entered in the cash book. A cheque for GH¢54 has been returned by the bank marked ‘refer to drawer’ but it has not been written back in the cash book. A cheque drawn for GH¢141 has been entered in error as a receipt in the cash book. The bank has debited a cheque for GH¢216 error to the company’s account. You are required to: Show the…