Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 2: [10 marks] From the following particulars prepare a Bank Reconciliation Statement for Shah & Co. to find out the overdraft balance as per
Question 2: [10 marks] From the following particulars prepare a Bank Reconciliation Statement for Shah & Co. to find out the overdraft balance as per Bank Statement as on Dec 31st, 2020: The bank overdraft as per cash book on Dec 31st, 2020 was $ 6,000 Cheque deposited into bank, but not cleared and credited before Dec 31st was $ 2,500 Bank service charges for the same period also debited in the Bank Statement amounted to $ 50 Cheque issued, but not cashed, before Dec 31st amounts to $ 1,500 Interest on investment collected by the bankers and credited in the Bank Statement amounted to $ 1,800. Interest on bank overdraft $ 200 is debited in the Bank Statement
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started