Question
Perth Ltd just received the 30 June 2022 bank statement from Mercantile bank showing a balance of $24,925. To prepare the Perth Ltds bank reconciliation,
Perth Ltd just received the 30 June 2022 bank statement from Mercantile bank showing a balance of $24,925. To prepare the Perth Ltds bank reconciliation, you gather the following information:
(i) Perths Cash account shows a balance of $19,500 on 30 June.
(ii) The following cheques of Perth are outstanding on 30 June 2022:
Cheque no. | Amount ($) |
201 | 700 |
225 | 300 |
230 | 400 |
235 | 600 |
(iii) On 30 June 2022, Perth deposited a cheque for $900, but this deposit doesnt appear on the bank statement.
(iv) In June 2022, Perth earned $110 for the interest revenue on its bank balance.
(v) Perth collects money from a few customers by Electronic Funds Transfer (EFT). The 30 June Bank statement shows a $5,500 deposit by a customer.
(vi) Perth's Bank statement shows a $25 bank service charge.
(vii) Perth's Bank statement shows that the customer cheque no. 501 was deposited as $140. The accounting records show the cheque no. 501 deposit as $1,400
Required:
Prepare the bank reconciliation for Perth Ltd at 30 June 2022
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