Paradise valley college TVET Accounting Budget and Support Level III

Paradise valley college

Occupation code:- BUF ACB3
Project one Level III
Prepare bank reconciliation
Under this task you are require to prepare bank reconciliation statement and expected to perform
adjustment on the Deposit ledger
I, the bank statement for the geda company for June 30,2015 indicate a balance of birr 9143.11 all
cash receipt each evening in a night deposit after bank hours.
II, the account record of the company indicate the following summary data for each receipt and
payment of June
 Cash balance as of June 1,2015----------------------3943.50
 Total cash receipt for June 2015--------------------28971.60
 Total amount of cheques issued (payment)----28388.85
Comparing the bank statement an the company record the following item were identified
A. The bank had collected for geda company birr 1030 on a note left for collection the face
amount of the note was birr 1000
B. Deposit in transit was birr 1852.21
C. Cheques outstanding total birr 5265.27
D. A cheque written for birr 139 had been incorrectly charged by the bank as birr 157
E. A cheque for birr 30 was wrongly recorded as birr 240 by the company the cheques was for
payment of account payable
F. Bank service charge for June amounted to birr 18.20
Required task:-
Task 1.1 Prepare bank reconciliation as at June 2015
Task 1.2 Journalize the entry that should be made by geda company
Geda company
Bank reconciliation
June,30,2015
Balance per bank statement------------------------------------------------------------------------------9143.11
Add: Deposit in transit---------------------1852.21
Error-------------------------------------18
Subtotal---------------------------------------------------------------------------------------------------------11013.32
Less: outstanding check --------------------5265.27
Adjusting balance per bank statement-------------------------------------------------------------------5748.05
Balance per deposit statement-----------------------------------------------------------------------------4526.25
Add: note receivable------------------------30
Face interest -------------------------1000
Error------------------------------------210
Subtotal-----------------------------------------------------------------------------------------------------------5766.25
Less : bank service charge-------------------18.20
Adjusting balance per deposit statement----------------------------------------------------------------5748.05
Paradise valley college

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Pre by:- Gudeta Dekema
Paradise valley college TVET Accounting Budget and Support Level III

Occupation code:- BUF ACB3

Project two Level III
Prepare bank reconciliation
Under this task you are required to prepare bank reconciliation statement and expected to perform
adjustment on deposit ledger.
1, Tola PLC is a company which is established for the manufacturing and distribution of long-base
vehicle. The book of the enterprise has show a balance of 13115 on may 31,2015 . at the same date
the bank statement balance of the business account was birr 13755.
The difference that was accounted for the two balance was as follows
A. A deposit of may 2015 birr 8000 was recorded on bank statement June 3 2015.
B. A cheques written for ato mesay a customer of Tola PLC was withdraw from bank on June
6,2015 birr 3500.
C. A bank transfer letter written for the payment of electricity in may 2015 of birr 7250 had
been transferred by the bank in June 2015 .
D. A bank service charge of birr 500was not recorded by the deposit.
E. Check deposit of birr 6330 which was received from the customers is returned by by the bank
as not sufficient fund(NSF).
F. The credit advice birr 4720 made by ato Tola customer for the settlement of Telephone
service was not given to Tola PLC .
Required Task:-
Task 1.1 Prepare bank reconciliation as at may 31,2015
Task 1.2 Prepare the necessary adjusting the journal entry
Tola PLC
Bank reconciliation
May 31,2015
Balance per bank statement----------------------------------------------------------------------13755
Add: Deposit in transit----------------------8000
Subtotal-------------------------------------------------------------------------------------------------21755
Less: outstanding check------------------------3500
Bank transfer------------------------------7250
Subtotal-----------------------------------------------------------------------------------------------10750
Adjust balance per bank statement-------------------------------------------------------------11005
Balance per deposit statement -------------------------------------------------------------------13115
Add: credit advice-------------------------------4720
Subtotal -------------------------------------------------------------------------------------------------17835
Less: bank service charge --------------------500
NSF-----------------------------------------6330
Subtotal---------------------------------------------------------------------------------------------------6830
Adjusting balance per bank statement-----------------------------------------------------------1

Paradise valley college

Occupation code:- BUF ACB3
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Pre by:- Gudeta Dekema
Paradise valley college TVET Accounting Budget and Support Level III

Project three Level III

Bank reconciliation process
Saba’s cash book at 30th November 2007 showed overdrawn position of birr 2118 although her bank
statement showed only birr 3630 overdrawn detailed damnation of the two record revealed the
following
A. The debit side of the cash book had been understated by birr 300 error of recording of
collection of account receivable
B. A check for birr 1560 in favor of z supplies ltd had been omitted by the bank from its
statement the check having been debited to another customers account
C. A check for birr 182 drawn in payment of telephone expense account had been entered in
the cash book as birr 128 but was shown correctly on the bank statement
D. A check for birr 210 from customers on account having been paid into the bank was
dishonored shown as such on the bank statement although entry relating to the dishonored
had been made in the cash book
E. The had debited check for birr 126 saba’s account in error ass how have been debited by
them to saba’s account
F. A dividend of birr 90 on kay’s holding of ordinary share has been paid direct to her bank
account and no entry made in the cash book
G. Check totaling birr 1260 drawn on 29 th November had not been presented payment
H. Deposit in transit November 30 totaled birr 1080
I. Interest amounting to birr 218 had been debited by the bank but not enter the cash book
Required:-
Task 1.1 Prepare bank reconciliation for saba company at November 30,2007
Task 1.2 Prepare the general journal entries necessary to bring the cash in account into
agreement the adjustment
Saba company
Bank reconciliation
Nov,30,2007
Balance per bank statement---------------------------------------------------------------------3630
Add: Deposit in transit---------------------1080
Error------------------------------------126
Subtotal-------------------------------------------------------------------------------------4836
Less: outstanding check
Check------------------------------1560
Check-----------------------------1260
Subtotal------------------------------------------------------------------------------------------------2820
Adjusting balance per bank statement--------------------------------------------------------2016
Balance per bank statement------------------------------------------------------------------------2118
Add: Note receivable----------------------300
Error------------------------------------90
Subtotal------------------------------------------------------------------------------------------------2508
Less: dishonored--------------------------------210
Error---------------------------------------54
Debit memo-----------------------------228
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Pre by:- Gudeta Dekema
Paradise valley college TVET Accounting Budget and Support Level III

Subtotal---------------------------------------------------------------------------------------------------492
Adjusting balance per deposit statement--------------------------------------------------------2016

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Pre by:- Gudeta Dekema