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a and b On 31st December 2019, Skype Ltd has Cash at Bank balance as per the company's record of $11,360 debit. The bank statement
a and b On 31st December 2019, Skype Ltd has Cash at Bank balance as per the company's record of $11,360 debit. The bank statement balance from ANZ Bank revealed a credit balance of $9,450. While attempting to reconcile the two records, you discovered the following: 1. The bank statement indicated $210 debit entry named bank fees as cost of printing cheques for Skype Ltd. 2. Outstanding deposits at 31st December were 55,300, and unpresented cheques amounted to $3,900. 3. The bank statement showed a dishonoured cheque of $1,200 that had been issued by a customer, ABC Ltd, to Skype Ltd. 4. $900 deposit made by SKIDDO Ltd was incorrectly credited to the bank account of Skype Ltd by ANZ Bank in the bank statement. Required a. Prepare a bank reconciliation at 31st December 2019 based on the provided information. (4 marks) b. Prepare the necessary adjusting entries as at 31 December 2019. (2 marks)
a and b
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