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Question 2 (5 marks): Yogi Limited has a bookkeeper who prefers to do Yoga rather than his bookkeeping job. He needs your help and has
Question 2 (5 marks): Yogi Limited has a bookkeeper who prefers to do Yoga rather than his bookkeeping job. He needs your help and has provided the following information to assist you in preparing the bank reconciliation for Yogi Limited at the end of May 2021: $8.990 Bank statement balance (not in overdraft) Items discovered on bank statement: Returned NSF cheque Interest earned Bank errorthe bank overcharged on a cleared cheque Items not included on bank statement: Outstanding cheques Deposits in transit General ledger error: Yogi Limited understated a deposit by $800 $20 $30 $1,600 $300 $47 Required: Prepare: a) The journal entries required; and (2.5 marks) b) The May bank reconciliation in good form and according to the format prescribed in this course. (2.5 marks)
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