On comparing the month-end bank account overdraft of R3 460 with the bank statement, the bookkeeper of Clan Enterprises noted that:

1 Cheques totalling R2 876 have not yet been presented to the bank for payment.

2 A deposit of R2 584 entered in the cash receipts journal has not yet been credited by the bank.

3 A credit transfer of R4 500 from a customer had not been entered in the cash receipts journal.

4 A cheque for R169 deposited on the last day of the month was returned by the bank marked ‘R/D’. (Clan’s records have not yet been adjusted.)

5 These charges shown on the bank statement have not yet been entered in Clan’s records:

You are required to:

1. Calculate the adjusted month-end bank account balance.

2. Calculate the closing balance as shown on the bank statement.

Transcribed Image Text:

- Overdraft interest - Service fees R196 R321