Jaribu traders limited received their bank statement as on 30/06/2011 and upon scrutiny noticed the following:
i) Out of cheques of Shs. 90,000 on 25th June, Shs. 40,000 appears to have been credited in the statement on 2nd July.
ii) Jaribu traders issued cheques totaling to Shs. 160,000 in the month of June. Cheques worth Shs. 70,000 have been cashed in the month, while cheques worth Shs. 50,000 were cash on 5th July and the rest of the cheques have not been cashed.
iii) The bank has credited the Family Account with a cheque of Shs. 20,000 which should have been credited in my personal account.
iv) Shs. 10,000 interest on overdraft charged in the statement on 30th June has been entered in the statement on 4th July.
v) The bank statement has been credited with Shs. 12,000 being interest on securities collected by my bankers.
vi) The bank balance as per the bank statement showed an overdraft of Shs. 190,000.
Required:
Prepare a Bank Reconciliation statement as per Bank Statement
(22 marks)