Bank reconciliation statement of Sun-Eaze as at 31 March Details Amount Balance per bank statement 144 313 78 Add outstanding deposits No. 571 5 527 50 Less outstanding cheques No. 390 3 158 58 No. 457 6 317 16 No. 458 9 475 72 Add error deposit no. 568 understated on the bank statement 7 896 44 Balance per bank account 138 786 26 PARADIGM BANK Registered Bank. Reg. No. 1941/000063/02 TAX INVOICE/STATEMENT VAT Reg. No. 4276398760 Statement No. 4 107 Adderley Street Cape Town 8000 PO Box 763 Roggebaai 8003 Tel: 021 425 6652 Fax: 021 435 6653 Branch code: 987654 To: Sun-Eaze Black River Park 2 Fir Street Observatory 7925 VAT No. 4274625091 BUSINESS CHEQUE ACCOUNT ACCOUNT NO. 1874936724 For period: 1 April to 30 April Date Details of Transaction Debit Credit Total 1 Balance 144 313.78 Cr 1 Cheque no. 457 6 317.16 137 996.62 Cr 1 Deposit 5 527.50 143 524.12 Cr 1 Correction of error on deposit 7 896.44 151 420.56 Cr 1 Internet and mobile banking fees 734.36 150 686.20 Cr 2 Direct deposit Shades 12 634.30 163 320.50 Cr 3 Cheque no. 459 20 068.70 143 251.80 Cr 5 Cheque no. 460 15 051.50 128 200.30 Cr 6 Deposit 14 046.68 142 246.98 Cr 6 Cheque no. 461 2 574.10 139 672.88 Cr 10 Direct deposit G Grey 6 334.84 146 007.72 Cr 11 Cheque no. 462 23 413.46 122 594.26 Cr 12 Deposit 15 499.78 138 094.04 Cr 13 Debit card fees 301.96 137 792.08 Cr 14 Cheque no. 463 28 430.62 109 361.46 Cr 14 Cheque no. 463 28 430.62 80 930.84 Cr 15 Debit order Watchdog Security 7 896.44 73 034.40 Cr 18 Cheque no. 464 10 034.34 63 000.06 Cr 20 Deposit 7 434.26 70 434.32 Cr 24 Cheque no. 465 18 396.28 52 038.04 Cr 26 Service fees 493.68 51 544.36 Cr 27 Cheque no. 0984 4 579.94 46 964.42 Cr 27 Debit order Get Wired 14 414.48 32 549.94 Cr 28 Cheque no. 466 8 361.94 24 188.00 Cr 29 R/D F Baggins 15 499.78 8 688.22 Cr 30 Interest on current account 1 441.90 10 130.12 Cr Take note of the following supplementary information: Cheque no. 390 was issued six months ago and needs to be cancelled, as it is stale. The amount had initially been paid to Brand Republic for online marketing. Shades paid for repairs done for them on the previous day via a direct deposit to the business. Cheque no. 461 was correctly recorded in the cash payments journal. G Grey settled his outstanding account through a direct deposit to the business on 10 April. Cheque no. 463 should only have been debited once on the bank account. Watchdog Security, who provides the business with security services, was paid via a monthly debit order. Deposit no. 574 on 20 April was incorrectly recorded in the cash receipts journal. Cheque no. 0984 was not written out by the business, and should have been debited to a different account. The monthly telephone bill was paid to Get Wired by debit order. A cheque received from F Baggins for payment of his outstanding account, which had originally been deposited as deposit no. 573, was returned by the bank due to insufficient funds. Cash journals Cash receipts journal of Sun-Eaze April CRJ1 CRJ4 Day Doc no. Details Fol. Analysis of receipts Bank Debtors control Sales VAT output Sundries Cost of sales Amount Details Fol. Dep no. 1 CR317 S Gamgee 5 328 06 5 328 06 1 Inv306 Cash 8 718 62 14 046 68 7 581 41 1 137 21 572 4 738 38 12 Inv307 F Baggins 15 499 78 15 499 78 2 021 71 13 478 07 Repairs income 573 19 CR318 P Took 8 234 26 8 234 26 8 234 26 574 27 Inv308 Pippins Optics 4 843 68 4 843 68 631 78 4 211 90 Commission received 575 30 Inv309 Cash 5 812 42 5 812 42 5 054 28 758 14 576 3 158 93 Cash payments journal of Sun-Eaze April CPJ4 Date Doc no. Name of payee Fol. Bank Creditors control Trading Inventory VAT input Sundries Amount Details Fol. 1 459 Tint Supplies 20 068 70 20 068 70 3 460 Plastics Warehouse 15 051 50 13 088 26 1 963 24 5 461 The Write Way 2 174 10 283 58 1 890 52 Stationery 8 462 Hyde Away 23 413 46 23 413 46 11 463 The Way I See It 28 430 62 24 722 28 3 708 34 17 464 Cape Motor Spares 10 034 34 1 308 83 8 725 51 Repairs and maintenance 22 465 Urban Fitters 18 396 28 15 996 77 2 399 51 24 466 T&C Attorneys 8 361 94 1 090 69 7 271 25 Legal fees 28 467 Frame It 10 034 34 10 034 34 31 468 Micro Fibre Depot 31 273 68 27 194 50 4 079 18 Question 1 Complete the cash receipts and cash payments journals with information noted in the bank reconciliation statement, bank statement, and supplementary information. Note: The transactions currently recorded in the cash journals need not be included in the journals below only record any additional transactions. However, use the transactions above to calculate the totals of the journal columns. The rand symbol (R) is not required. The folio, analysis of receipt, and cost of sales columns may be ignored. Cash receipts journal of Sun-Eaze April Date Doc no. Details Bank Debtors control Sales VAT output Sundries Amount Details Transactions in the original journals apply but do not have to be re-included here Cash payments journal of Sun-Eaze - April Date Doc no. Name of payee Bank Creditors control Trading stock VAT input Sundries Amount Details Transactions in the original journals apply but do not have to be re-included here Question 2 Using the cash receipts and cash payments journals, prepare the bank account in the general ledger for April. The rand symbol (R) is not required. Bank Date Details Folio Amount Date Details Folio Amount Question 3 Prepare the bank reconciliation statement of Sun-Eaze as at 30 April, using the information provided and prepared above. The rand symbol (R) is not required. Bank reconciliation statement of Sun-Eaze as at 30 April Details Amount (R) Balance as per bank account