As the accountant for Sam & Ben’s Ice Cream you are required to perform a bank reconciliation at the end of June 2016. The bank reconciliation statement for the previous month is set out below:

	Bank Reconciliation Statement as at 31 May 2016
	Balance as per bank statement Add: Outstanding deposit				$	5634.58    432.67
	Less: Unpresented cheques:           Cheque no. 4578    $67.35                              4579    134.89                              4581    287.34					6067.25    489.58
	Balance as per Cash at Bank account				$	5577.67

Abridged cash receipts and cash payments journals before finalisation and posting are:

Cash Receipts Journal
	Date	Account						Cash at Bank
	2016 June   1	Sales							599.54
	2	M. Fraser Sales							56.98 515.90
	4	P. Bartel Sales							64.00 602.78
	5	Sales							548.70
	8	C. Mason I. Ellis Sales							98.00 45.68 555.60
	9	Sales							525.00
	12	J. Rasheed Sales							34.65 502.40
	15	Sales							519.56
	17	J. Botten J. Greenhalgh Sales							35.40 22.20 440.86
	19	J. Rasheed — dishon. cheque Sales							(34.65 498.90		)
	22	Sales							548.65
	26	M. Fraser Sales							34.50 536.00
	29	Sales							506.80
	30	Sales							480.65
									7738.10

Cash Payments Journal

Date

Account

Cheque no.

Cash at Bank

2016 June   1           2           4           5                        8           9                      11         12         15                      17         18         19         22         24         25         26         29         30

Love Ltd Bishop Ltd Wages and salaries Petty cash D. Elliot Taylor & Sons PB Petrol Bowsers Accommodation G. Warner & Partner Electricity Ltd Big Gas Corporation Telephone Company Advertising Wages and salaries Donation – Sallies Army Freight Purchases PB Petrol Bowsers S. Bartel Petty cash K. Turner

4582 4583 4584 4585 4586 4587 4588 4589 4590 4591 4592 4593 4594 4595 4596 4597 4598 4599 4600 4601 4602

345.67 189.60 880.00 54.65 125.60 54.90 95.00 235.40 584.30 720.89 220.54 325.90 220.00 880.00 50.00 80.00 2080.90 56.80 125.00 42.05 38.70

7405.90

The following is a copy of the bank statement for the month of June 2016.

Bank Statement

Date

Particulars

Debit

Credit

Balance

2016 June   1           2                                     3           4           5                        6           8           9                      12         15         17         18

Balance 4579 Deposit Deposit Deposit 4582 4583 4584 Deposit 4585 Deposit 4581 Deposit 4588 Deposit 4586 4589 Deposit 4590 4587 4592 Deposit 4593 Deposit 4595

134.89 345.67 189.60 880.00 54.65 287.34 95.00 125.60 235.40 584.30 54.90 220.54 Fantastic news! We've Found the answer you've been seeking! Answer rating: 55% (9 reviews) A Cash Receipts Journal Date Account Cash at Bank 2016 June 1 Sales 59954 2 M Fraser 5698 Sales 5159...View the full answer Answered By PRINCE PANDEY I am Indian Chartered Accounting having a strong hold in the subjects of Accounting, IFRS Reporting, Indian Taxation, Cost Accounting, Auditing. I have vast experience of teaching a student with easy way problem-solving approach. 5.00+ 1+ Reviews 10+ Question Solved Related Book For   Accounting ISBN: 978-1118608227 9th edition Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett See More Books Question Posted: Jun 20, 2019 08:24 AM See More Questions Students also viewed these Business questions As the accountant for Jims Hardware of Halifax, you have been asked to complete a worksheet from the following trial balance as well as additional data. Additional Data a. and b. Cost of ending... As the accountant for Jasper's Telemarketing Services, you discovered the following errors in the May 31 unadjusted trial balance that require correction: a. Advertising Expense was debited and... As the accountant for Collins Products Corporation, you have the following information available to you: REQUIRED 1. Compute the following profitability measures for 2010 and 2011: (a) Profit margin,... 3. How do the marginal costs of pollution reduction and the marginal costs of pollution damage change as pollution levels increase? The marginal costs of pollution reduction remain constant and the... The Nockem Dead Casket Company supplies funeral homes with caskets throughout the state of California.-The funeral homes for a particular warehouse territory are located as shown on the map in Figure... In Exercises 3340, use synthetic division and the Remainder Theorem to find the indicated function value. f(x) = x + 5x + 5x - 5x - 6; f(3) Shared leadership in airplane crews. Human Factors (March 2014) published a study that examined the effect of shared leadership by the cockpit and cabin crews of a commercial airplane. Simulated... a. Why would the topic of health care feature prominently in any conversation about employee motivation? b. Does the issue of patient care make low employee morale more important for health care... The expected return of the portfolio with stock B is %. (Round to one decimal place.) Prepare a trial balance for Kenny's Lawn Service as of September 30, 20--. List the accounts in the order of Assets, Liabilities, Owner's equity, Revenue, and Expenses. If an amount box does not... As accountant for J. Stojanovic & Son, you are required to perform a bank reconciliation at the end of June 2016. The bank reconciliation statement for the previous month is set out below: Bank... The following transactions and events relate to the petty cash fund (imprest amount $200) of Honshu Ltd (all amounts include GST): 1. Paid $27.50 delivery charges on inventory purchased. 2. Paid $44... How many instructions are expected to be executed between the time one branch misprediction is detected and the time the next branch misprediction is detected? Problems in this exercise assume that... Factor the expression. 4x+31x+21 What was the total cost of Job #1253 for January? * (1 Point) BREAD Co. is a print shop that produces jobs to customer specifications. During January 2019, Job #1253 was worked on and the following... The Greensboro Performing Arts Center (GPAC) has a total capacity of 7,600 seats: 2,000 center seats, 2,500 side seats, and 3,100 balcony seats. The budgeted and actual tickets sold for a Broadway... eBook Current position analysis The bond indenture for the 10-year, 9% debenture bonds issued January 2, 2015, required working capital of $100,000, a current ratio of 1.5, and a quick ratio of 1 the... Explain Below terms 1-Leverage Ratios 2-Profitability Ratios 3-Market Value Ratios 4-Liquidity Ratios 5-Efficiency Ratios Explain the ways in which ROI can be improved. Outline a general process applicable to most control situations. Using this, explain how you would develop a system to control home delivery staff at a local pizza shop. What is done to record properly a transaction involving the issuance of a non-interest-bearing long-term note in exchange for property? What is done to record properly a transaction involving the issuance of a non-interest-bearing long-term note in exchange for property? How is the present value of a non-interest-bearing note computed? A company is evaluating a new 4-year project. The equipment necessary for the project will cost $3,300,000 and can be sold for $650,000 at the end of the project. The asset is in the 5-year MACRS... You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company... I need to see where the calculations for this problem come from plz. 5. Award: 4.00 points Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement... Advances In Catalysis Volume 55 1st Edition - ISBN: 0123855160 - Free Book Study smarter with the SolutionInn App Get In Touch About Us Contact Us Career Jobs FAQ Campus Ambassador Company Info Security Copyrights Privacy Policy Terms & Condition SolutionInn Fee Scholarship Services Sitemap Fun Definitions Become Tutor Study Help Categories Recent Questions Expert Questions Copyright © 2024 SolutionInn All Rights Reserved. Get the SolutionInn - Study Help App