Question 2 The bank portion of the bank reconciliation for Suka Suka Berhad at September 30, 2014, was as follows. Suka Suka Berhad Bank Reconciliation September 30, 2014 Bank statement balance Add: Deposits in transit RM 5,800 240 6,040 Less: Outstanding cheques Cheque Number 1047 1048 1049 Adjusted bank balance Cheque Amount RM 1,200 830 1,750 3,780 2.260 The adjusted bank balance agreed with the book balance at September 30. The October 2014 bank statement showed the following cheques and deposits: Bank Statement Cheques Deposits Date Number Amount Date Amount 1/10 1047 RM 1,200 1/10 RM 240 3/10 1048 830 7/10 6,400 3/10 1050 2,620 12/10 2,290 10/10 1051 3,840 22/10 5,000 13/10 1052 5,150 22/10 12,700 15/10 4,230 NSF 25/10 3,620 18/10 1053 2,000 26/10 550 CM 19/10 1054 8,500 31/10 10 IN 30/10 1056 3,310 31/10 50 SC Previous balance RM5,800 Current balance RM4,880 Note: NSF - Non-sufficient funds SC - Service charge CM-Credit memorandum IN - Interest earned The cash records per books for October 2014 showed the following: Cash Payments Journal Date Number Amount 1/10 1050 RM2,620 8/10 1051 3,840 11/10 1052 5,110 16/10 1053 2,000 | 17/10 1054 8,500 23/10 1055 4,480 28/10 1056 3,310 31/10 1057 2,960 Balance, Sept 30 2,260 Total payments 32.820 Cash Receipts Journal Date Amount 5/10 RM 6,400 10/10 2.290 18/10 5,000 20/10 12,700 28/10 6,010 29/10 2.450 Total receipts Balance, Oct 31 34,850 4.290 Additional information: a. A credit of RM550 for the collection of a RM500 note for Suka Suka Berhad plus interest of RM60 and less a collection fee of RM10. Suka Suka has not accrued any interest on the note. b. Cheque no. 1052 was correctly drawn for RM5,150 for the purchase of office equipment. However it had been incorrectly entered in the accounting records. c. After reviewing the bank statement, a cheque issued for Suka Hati Enterprise amounted to RM3,620 was deposited to the account of Suka Suka Berhad by mistake. d. The NSF cheque was received from a customer, Rahman, for payment of his account. Required: 1. Prepare updated cash account of the company 2. Prepare the bank reconciliation of Suka Suka Berhad as at October 31, 2014