Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(b) On 30th June, 2010, the cash book of Undugu ltd showed a balance of Sh 16,600 while the bank statement showed a balance of

image text in transcribed
(b) On 30th June, 2010, the cash book of Undugu ltd showed a balance of Sh 16,600 while the bank statement showed a balance of Sh 16,170. On comparison of the bank statement and the cash book, the following information was revealed: (1) Bank Charges of Sh 100 had been recorded in the cash book. (ii) A debtor, Amina, deposited Sh 1,000 directly into the bank. No record of this had been made in the cash book. (iii) The bank statement showed dividends collected amounting to Sh 1,280. (iv) Cheques amounting to Sh 3,000 had not been presented for payment. (v) Cheques deposited into the bank account amounting to Sh 4,000 had not been credited by the bank. (vi) A standing order of Sh 1,000 had not been recorded in the cash book. (vii) A cheque of Sh 8,140 deposited into the bank was recorded in the cashbook as sh 8,410. (viii) The bank had erroneously debited the bank statement by Sh 340. Required: (a) Updated cashbook (10 marks) (b) Bank reconciliation statement ( 5marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Auditing

Authors: Graham Cosserat

2nd Edition

0470863226, 978-0470863220

More Books

Students also viewed these Accounting questions

Question

Find an antiderivative. p(r) = 2r

Answered: 1 week ago

Question

Detailed note on the contributions of F.W.Taylor

Answered: 1 week ago

Question

a. Did you express your anger verbally? Physically?

Answered: 1 week ago