iCMA 43

1. Canans unadjusted closing balance as per cash book showed a bank overdraft of 550 as at 31 March 2012. However, the bank statement showed a positive balance of 560. She found the following differences after comparing the cash book with the bank statement.

a) A standing order of 1,000 for rent paid by Canan to Better Builders Inc. pertaining to April and May 2012 entered in the cash book twice.

b) An unpresented cheque for 290.

c) Bank charges of 20 deducted on the last day of the month.

d) 160 of telephone charges paid by direct debit on 30 March to Telecom plc.

What would be the adjusted closing balance as per cash book as at 31 March 2012

iCMA 432.Which of the following is not a reason why the cash book and bank statement would fail to agree? Select one: Cash payment posted to receivables Bank charges Error Timing differences