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Information about Bond Ltd's cash position for the month of January 2017 is presented below: 1. The general ledger Cash at Bank account had a
Information about Bond Ltd's cash position for the month of January 2017 is presented below: 1. The general ledger Cash at Bank account had a balance of $97 624 on 31 January 2017 2. The bank statement reported a bank balance of $82 368 on 31 January 2017. 3. Outstanding cheques at the end of January 2017 were: no. 4567, $2 896; no. 4568, $168; no. 4571, $140 and no. 4573, $820 January 2017 and were not included in the January 2017 bank statement. disclosed that cheque no. 4553 for $1 692, for purchases expense, had been wrongly 4. Cash receipts of $20 180 for 31 January 2017 were placed in the bank's night safe on 31 5. Comparison of the presented cheques with the entries in the cash payments journal recorded in the cash payments journal as $1 728. 6. Included on the bank statement were: (a)A dishonoured cheque written by William Ltd, a client, for $272. (b)A credit for an electronic transfer from a customer of $1 288 and a credit for interest earned of $88. (c) Account and transaction fees, $240. Required: Prepare a bank reconciliation statement as at 31 January 2017 (including adjustments to the company's internal cash record) [13 marks]
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