The bank reconciliation statement of Feng Zhen Liu on 21 June 2016 was as shown below. FENG
Question:
The bank reconciliation statement of Feng Zhen Liu on 21 June 2016 was as shown below.
FENG ZHEN LIU Bank Reconciliation Statement as at 21 June 2016 | ||||||||||
Balance as per bank statement Add: Unpresented cheques: No. 172 177 178 | $ | 1 464 812 54 | $ | 23 144 2 330 | Dr | |||||
Less: Deposit not credited by bank | 25 474 20 250 | |||||||||
Balance as per Cash at Bank account | $ | 5 224 | Cr | |||||||
The cash receipts and cash payments journals for the week ending 28 June were as follows:
Cash Receipts Journal | |||||||||||
Date | Particulars | Details | Cash at Bank | ||||||||
2016 June 24 | Y. Luo A. Zho K. H. Tan Sales | 1 250 744 904 1 936 | 4 834 | ||||||||
25 | Sales | 2 744 | 2 744 | ||||||||
26 | L. Jiang Sales | 56 2 842 | 2 898 | ||||||||
27 | Sales | 3 524 | 3 524 | ||||||||
28 | R. Chen Sales | 642 3 708 | 4 350 | ||||||||
18 350 | |||||||||||
Cash Payments Journal | |||||||||||
Date | Particulars | Cheque no. | Cash at Bank | ||||||||
2016 June 24 25 26 27 28 | Y. Du Sundry expenses J. Liang Wages Rent M. Choi D. Tsu Insurance Purchases N. Ma | 179 180 181 182 183 184 185 186 187 188 | 482 178 644 2 440 864 752 1 650 914 656 4 032 | ||||||||
12 612 | |||||||||||
Feng Zhen Liu’s bank statement at 28 June is shown below.
Bank Statement | ||||||||||||||||||||||||||
Date | Particulars | Debits | Credits | Balance | ||||||||||||||||||||||
2016 June 24
25
26 27
28
| Balance 177 Account fees 180 172 179 182 Returned cheque (H. Tsui) 184 Interest on bonds 181 Payment Auth. (to B. Chang) Transaction fees 187 Account Fees Interest on O/D | $ 812 120 178 1 464 482 2 440 860 752 644 1 896 24 656 120 844 | $20 250 4 834 2 744 2 898 840 3 524 | $23 144 2 894 1 940 1 128 1 008 830 634 2 110 1 628 812 1 672 1 226 474 1 314 4 838 4 194 2 298 2 274 1 618 1 498 654 | Dr Dr Cr Cr Cr Cr Dr Cr Cr Dr Dr Cr Cr Cr Cr Cr Cr Cr Cr Cr Cr | |||||||||||||||||||||
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Required
A. Complete, where necessary, the cash journals starting with the totals shown.
B. Open a Cash at Bank account with the correct balance on 21 June 2016 and post the totals of the cash journals. Balance the account at 28 June 2016.
C. Prepare a statement reconciling the Cash at Bank balance with the balance as shown by the bank statement as at 28 June 2016.
Step by Step Answer:
A Cash Receipts Journal Cash Payments Journal Date Particulars Cash at Bank Date P...View the full answer
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
