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Prepare the bank reconciliation statement for the month ended 31 May 2016 Illustration 2 Sunny Day Enterprise 2016 Cashbook (May 2016) RM 2016 2,814 Payments
Prepare the bank reconciliation statement for the month ended 31 May 2016
Illustration 2 Sunny Day Enterprise 2016 Cashbook (May 2016) RM 2016 2,814 Payments RM Bal b/d 31,040 Receipts 30.146 Bal cld 1.920 32,960 32,960 Bal b/d 1.920 Aditional information: 1. Bank charges of RM70 as recorded in the bank statement have not been entered in the cash book. ii. A cheque issued for RM94 has been entered in error as receipt in the cash book iii. A cheque for RM36 has been returned by the bank marked "refer to drawer" but has not been written back in the cash book. IV. The opening paiance of the cash book should be RM2,940 instead of RM2,814. V. Three cheques issued to suppliers for RM428, RM740 and RM60 have not been presented to the bank. vi. Bank fund transfer of RM600 from Starlight as reflected in the bank statement has not been recorded in the cash book. vii. A cheque from Moonlight Groceries for RM570 and presented to the bank on 15 May 2016 has been returned (dishonoured) on 16 May 2016. However the cash book has already recorded the cheque receipt on 12 May 2016. The cash book shows a deposit of RM3,084 which has not been credited in the bank statement ix. The bank has debited a cheque for RM144 in error to Sunny Day's account X. A standing order of RM210 for loan repayment in the bank statement has not been recorded in the cash book. xi. The bank statement shows a closing balance of RM428 overdrawn. vStep by Step Solution
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