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1. Dwamena, a sole proprietor has just received his bank statement and is confused as to why his cash book shows a balance of
1. Dwamena, a sole proprietor has just received his bank statement and is confused as to why his cash book shows a balance of GHS36,930. Upon further enquiries, the following information became available: L TV vii. Three cheques received (GHS10,740, GHS3,180, GHS 1,350) were still in the office safe even though credit had been taken for them. A standing order for the payment of electricity charges of GHS7,760 was paid by the bank. The bank charged GHS510 for a cheque book supplied to Dwamena. The bank had debited Dwamena's account in error with GHS 1,160. A credit transfer of GHS46,500 has been made in favour of Dwamena. This is recorded on the bank statement only. As at that date of receiving the bank statement, the following cheques received as paid had not been presented to the bank for payment: Kook Bintu Asoma Bonto GHS 4,700 4,500 3,680 3,630 The bank received a telegraph transfer of GHS830. This was credited in error to Dwamena. You are required to: a. bi adjust Dwamena's cash book. prepare a statement to reconcile the adjusted cash book with the balance shown on the bank statement.
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