FINTECH LIMITED

BANK RECONCILIATION STATEMENT

You are working as an Accounts Manager in Fintech Limited. Assume that the month of August 2017 has just ended and you received a bank statement showing an overdraft balance of 20,000. The balance recorded in the company's cash book is a credit balance of 12,100.

1) Lodgements not yet cleared by the bank (i.e. payments recorded in the cash book but not recorded in the bank statement) 24,300

2) Cheques not yet presented (i.e payments from the account recorded in the cash book but not yet processed through the bank) 18,900

3) Bank charges of 1300

4) A dishonoured cheque from a customer 1,200

Items (3), (4) and (5) have not yet been recorded in the cash book.

Required:

Prepare a bank reconciliation statement as on 31st August 2017