50% 18:34 6 TTM200T TRF205D... QUESTION 3 - 20 marks The following information was obtained after comparing the cash journals of Milner Limited with their bank statement for 30 June 2019 Balances Bank account in the general ledger (favourable) 1/8/2019 R3 450 Bank statement (overdrawn) 30/6/2019 R9 451 Totals on 30 June 2019: Cash receipts joumal R40 620 Cash payments Journal R45 160 Additional information 1. A debtor, W. Wally paid R950.00 directly into the bank account of Milner , Limited 2. The bank erroneously debited Milner Limited with a cheque of R5 300 drawn by Meller Limited 3. A cheque of R350 received from K. Kong in settlement of his account of R380 was returned by the bank on 29 June, marked "refer to drawer". 4. Sundry bank debits as per bank statement: Interest Service fees Cheque book RS6 R73 R12 5. A stop order of R620 in respect of the annual fire insurance premium payable to Fire Insurance Co. Appeared on the bank statement on 30 June 2019. 8. A deposit of R3 200 made on the 301 of June 2019 in the cash receipts journal, was deposited in the bank on 1 July 2019 7. Outstanding cheques not yet presented to the bank for payment, amounted to R300 YOU ARE REQUIRED TO: 1. Prepare the bank account of Milner Limited in the general ledger on 30 June 2019 - 12 marks Bank (12 marks) 2. Prepare the bank reconciliation statement on 30 June 2019 - 8 marks Debit Credit (8 marks O 50% 18:34 6 TTM200T TRF205D... QUESTION 3 - 20 marks The following information was obtained after comparing the cash journals of Milner Limited with their bank statement for 30 June 2019 Balances Bank account in the general ledger (favourable) 1/8/2019 R3 450 Bank statement (overdrawn) 30/6/2019 R9 451 Totals on 30 June 2019: Cash receipts joumal R40 620 Cash payments Journal R45 160 Additional information 1. A debtor, W. Wally paid R950.00 directly into the bank account of Milner , Limited 2. The bank erroneously debited Milner Limited with a cheque of R5 300 drawn by Meller Limited 3. A cheque of R350 received from K. Kong in settlement of his account of R380 was returned by the bank on 29 June, marked "refer to drawer". 4. Sundry bank debits as per bank statement: Interest Service fees Cheque book RS6 R73 R12 5. A stop order of R620 in respect of the annual fire insurance premium payable to Fire Insurance Co. Appeared on the bank statement on 30 June 2019. 8. A deposit of R3 200 made on the 301 of June 2019 in the cash receipts journal, was deposited in the bank on 1 July 2019 7. Outstanding cheques not yet presented to the bank for payment, amounted to R300 YOU ARE REQUIRED TO: 1. Prepare the bank account of Milner Limited in the general ledger on 30 June 2019 - 12 marks Bank (12 marks) 2. Prepare the bank reconciliation statement on 30 June 2019 - 8 marks Debit Credit (8 marks O