ACC 1101 TUTORIAL - BANK RECONCILIATION Question 1 Ramadhan Berhad cash ledger for the month of April 2013 shows the following: Date Item Debit RM Credit RM Balance RM 14,500 Apr 5,040 3,650 1,200 6,210 3,140 1 Balance b/f 2 Accounts Receivable 6 Accounts Payable (Cheque No 454) 10 Accounts Payable (Cheque No 455) 13 Accounts Receivable 15 Accounts Receivable 20 Salaries (Cheque No 456) 23 Accounts Payable (Cheque No 457) 27 Inventory (Cheque No 458) 28 Accounts Payable (Cheque No 459) 29 Accounts Receivable 29 Equipment (Cheque No 460) 30 Accounts Receivable 30 Balance c/f 2,530 3,280 1,720 1.170 8,440 8,000 4,290 20,070 On May 3, 2013, the following bank statement was received from the bank: Date Apr Transaction Details 1 Opening balance 4 Deposit 8 EFT payment - utilities 9 Payment - Cheque No 454 12 Payment - Cheque No 455 13 Payment - Cheque No 739 14 EFT deposit - rental revenue 15 Non-sufficient fund cheque 15 Deposit 18 Deposit 23 Payment - Cheque 456 25 Payment - Cheque 457 27 Bank collection 30 Payment - Cheque 459 30 Interest 30 Service charge Amount (RM) Balance (RM) 14,500 5,040 19,540 -1,800 17,740 -3,650 14,090 -1,200 12,890 -1,430 11,460 3,200 14,660 -2,850 11,810 6,210 18,020 1,340 19,360 -2,530 16,830 -3,280 13,550 900 14,450 -1,170 13,280 80 13,360 -20 13,340 Upon further investigation, the following differences were revealed: a. Cheques deposited on 28 April onwards are still in transit. b. Cheques no.458 and 460 are still outstanding. c. A receipt of RM1,340 on 15 April for accounts receivables was wrongly recorded in the cash ledger as RM3,140. d. The non-sufficient fund cheque was received from a customer. e. The bank statement includes a payment of RM1,430 (cheque no 739). This cheque does not belong to Ramadhan Berhad. The bank has been notified about this error. f. The bank collection appears in the bank statement was received from a customer. Required: 1. Update the company's cash account 2. Prepare the bank reconciliation as at 30 April 30, 2013