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dear tutor the question is complete. please answer the question using the given information thank you Question 6 (Marks: 15) PSG Champs Limited has a
dear tutor
the question is complete. please answer the question using the given information
thank you
Question 6 (Marks: 15) PSG Champs Limited has a 28 February 2020 year end. The following balances were extracted from their books: Cashbook balance R 85 600.00 Bank Statement R35 800.00 1. The following cheques were in the cashbook but not on the bank statements: Cheque #777 dated 30 December 2019 for R6 500.00 has gone stale Cheque #444 dated 24 February 2020 for R7 800.00 2. Received a proof of payment from a client on the 28th of February for R45 800.00, this amount has been included in the cash book but not in the bank statement 3. Cash deposit of R5 000.00 was received on the 27th of February 2020, the cashbook clerk correctly accounted for this amount in the cashbook. 4. Bank charges of R800.00 were paid 5. The bank incorrectly deducted R570.00 from the bank statements. 6. Cheque number 888 payment for R7 895.00 was incorrectly accounted for as R7 985.00. 7. An amount of R8 940.00 was received in the bank of PSG from a client but was not accounted for in the cashbook Q.6.1 You are required to prepare the bank reconciliation of PSG Champs Limited. (10) Q.6.2 Prepare the cashbook of PSG Champs Limited. (5) Question 6 (Marks: 15) PSG Champs Limited has a 28 February 2020 year end. The following balances were extracted from their books: Cashbook balance R 85 600.00 Bank Statement R35 800.00 1. The following cheques were in the cashbook but not on the bank statements: Cheque #777 dated 30 December 2019 for R6 500.00 has gone stale Cheque #444 dated 24 February 2020 for R7 800.00 2. Received a proof of payment from a client on the 28th of February for R45 800.00, this amount has been included in the cash book but not in the bank statement 3. Cash deposit of R5 000.00 was received on the 27th of February 2020, the cashbook clerk correctly accounted for this amount in the cashbook. 4. Bank charges of R800.00 were paid 5. The bank incorrectly deducted R570.00 from the bank statements. 6. Cheque number 888 payment for R7 895.00 was incorrectly accounted for as R7 985.00. 7. An amount of R8 940.00 was received in the bank of PSG from a client but was not accounted for in the cashbook Q.6.1 You are required to prepare the bank reconciliation of PSG Champs Limited. (10) Q.6.2 Prepare the cashbook of PSG Champs LimitedStep by Step Solution
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