Question
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit. 2. Bank statement balance as at 30 June 2019: $27 815credit.
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into theFilessection underneath.)
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into theFilessection underneath.)The following information relates to the cash position of Cathy Fraser, loan broker:
The following information relates to the cash position of Cathy Fraser, loan broker:
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into the
Files
section underneath.)The following information relates to the cash position of Cathy Fraser, loan broker:
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into the
Files
section underneath.)The following information relates to the cash position of Cathy Fraser, loan broker:
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into the
Files
section underneath.)The following information relates to the cash position of Cathy Fraser, loan broker:
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into the
Files
section underneath.)The following information relates to the cash position of Cathy Fraser, loan broker:
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into theFilessection underneath.)
The following information relates to the cash position of Cathy Fraser, loan broker:
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into the
Files
section underneath.)The following information relates to the cash position of Cathy Fraser, loan broker:
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into the
Files
section underneath.)The following information relates to the cash position of Cathy Fraser, loan broker:
1. Cash at Bank account balance as at 30 June 2019: $17 755 debit.
2. Bank statement balance as at 30 June 2019: $27 815credit.
3. 30 June receipts amounting to $1 520 have not been deposited.
4. The following cheques were issued but not presented:
No. 3456$2 500
No. 3457$160
No. 3460$680
No. 3462$1 960
5. A $980 cheque received from a customer was returned marked 'dishonoured'.
6. A $6500 note receivable was collected by the bank for Cathy Fraser on 15 June plus $260 interest. The bank charged a collection fee of $40. No interest has been accrued on the note.
7. The bank statement shows that the bank has charged the business's account with fees and charges of $50.
8. Comparison of the presented cheques with the entries in the cash payments journal disclosed that cheque No. 3442 for $5 138, for purchases expense, had been wrongly recorded as $5 728.
Required
Prepare a bank reconciliation at 30 June 2019 based on the provided information (4 marks).
Journalize the entries required by the reconciliation (5 marks).
(Type your response directly into the text box below.Alternatively, you may draft your response in Excel or word and upload as an attachment into theFilessection underneath.)
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