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    The summary provides a bank reconciliation statement with a balance per bank statement of $36,840 overdrawn, lodgements after the date of $51,240, and outstanding cheques of $43,620. Assuming the other amounts are correct, the correct cash book balance should be $60,020 credit. Items that require an entry in the cash book include cheque paid in but dishonored, bank errors, and bank charges.

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    The summary provides a bank reconciliation statement with a balance per bank statement of $36,840 overdrawn, lodgements after the date of $51,240, and outstanding cheques of $43,620. Assuming the other amounts are correct, the correct cash book balance should be $60,020 credit. Items that require an entry in the cash book include cheque paid in but dishonored, bank errors, and bank charges.

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    3 views1 page

    BRS

    Uploaded by

    husse fok
    The summary provides a bank reconciliation statement with a balance per bank statement of $36,840 overdrawn, lodgements after the date of $51,240, and outstanding cheques of $43,620. Assuming the other amounts are correct, the correct cash book balance should be $60,020 credit. Items that require an entry in the cash book include cheque paid in but dishonored, bank errors, and bank charges.

    Copyright:

    © All Rights Reserved
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    of 1

    The following bank reconciliation statement has been prepared by a trainee accountant:

    Bank reconciliation 30 September 2002


    $
    Balance per bank statement (overdrawn) 36,840
    add: Lodgements credited after date 51,240
    88,080
    less: Outstanding cheques 43,620
    Balance per cash book (credit) 44,460
    Assuming the amounts stated for items other than the cash book balance are correct, what should the cash
    book
    balance be?
    A $44,460 credit as stated
    B $60,020 credit
    C $29,220 debit
    D $29,220 credit
    6 Listed below are some possible causes of difference between the cash book balance and the bank statement
    balance
    when preparing a bank reconciliation:
    (1) Cheque paid in, subsequently dishonoured.
    (2) Error by bank
    (3) Bank charges
    (4) Lodgements credited after date
    (5) Outstanding cheques not yet presented.
    Which of these items require an entry in the cash book?
    A (1) and (3) only
    B (1), (2), (3), (4) and (5)
    C (2), (4), and (5) only
    D (1), (2) and (3) only

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