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Bank Rec Exercise

This document summarizes the bank statement and cash book information for Molly Holly for July 2011. It provides details of transactions in the cash book and bank statement, including deposits, withdrawals, and ending balances. The exercises require updating the cash book based on discrepancies between the cash book and bank statement, and preparing bank reconciliation statements for Kelly Smelly in January 2012 and L. Tracey in February 2006.

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Josh Bissoon
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510 views2 pages

Bank Rec Exercise

This document summarizes the bank statement and cash book information for Molly Holly for July 2011. It provides details of transactions in the cash book and bank statement, including deposits, withdrawals, and ending balances. The exercises require updating the cash book based on discrepancies between the cash book and bank statement, and preparing bank reconciliation statements for Kelly Smelly in January 2012 and L. Tracey in February 2006.

Uploaded by

Josh Bissoon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Details

$
Details
Bal b/d
700 V. Enterprise
Cash
0
P. Pamper
L. Lover
142 Sandy Works
G. Dove
0
Dog Supplies
S.
Sally
640
Gas
Details
Dr Supplies
Cr
0
Bal c/d
Balance
700
Cash
1420
Cheque #3701 0
1500
Cheque #1402 600
7600
Cheque #9342 0
1000
Deposit
7000
S. Sally
6000
Credit Transfer: G.
9700
Dale
680
Standing Order: Water 6000
Refused Cheque: S.
4000
Sally
3600
Dividends
50
Direct Debit: P. Polly
Bank Charges

$
150
0
760
0
390
Bal
0
1700
133
3120
00
1620
100
(598
0
0)
520
(698
0)
20
6020
1572
0
1564
0
9040
1304
0
9440
9390

Molly Holly provided the following information for


July, 31, 2011
Cash Book
Molly Holly Bank Statement for July,2011

Required:
(a) Bring the Bank balance up-to-date
(b) Prepare a Bank Statement Balance starting with the Adjusted Cash balance and Bank
Statement Balance
Exercise Two
Kelly Smelly compared her Cash Book with her bank statement which also showed an overdraft
balance
Balance as per Cash Book
(9700)
Deposits in Transit
16700
Suppliers Cheques not cashed
14900
Dishonoured Cheque: W. Wack
900
Interest Recd on bank
700
Credit Transfer: S. Duf
6300
Direct Debit: L Carl
7100
Bank Charges
400
Instructed payments by the bank
700
The following information was also provided:
(a) The accountant mistakenly debited a cheque for 1650 as 650 in the cash book, it was
correctly entered in the bank statement
(b) The bank credited the companys account twice with a cheque for $200
Required:

Update the Cash Book for Kelly Smelly for the month of January, 2012
Prepare a Bank Reconciliation Statement for Kelly Smelly
Exercise 3: CXC May 2006
The Cash Book of L. Tracey at February, 28, 2006 showed a debit balance of $10030. On
comparing her CB with her Bank Statement the following were observed:
1. A cheque paid to a creditor for $1894 was entered in the Cash Book as $1984
2. Direct Credits received by the bank but not entered in the cash nook amounted to $500
3. Bank Charges amounted to $194
4. A standing order of $36
5. Unpresented Cheques amounted to $6936
6. Bank Deposits not credited by the bank amounted to $548
7. Cheques marked refer to drawer were not adjusted in the cash book amounted to $112
(a) Update the cash Book
(b) Prepare a Bank Reconciliation Statement

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