Question
Question 2 You are the owner of Jackson Attorney. On the 31 January 2020 your business bank statement reflected an overdraft balance of N$ 14
Question 2 You are the owner of Jackson Attorney. On the 31 January 2020 your business bank statement reflected an overdraft balance of N$ 14 439. On the same date your cash book reflected a debit balance of N$ 1 828 You compare your cash book entries with the bank statement and identify the following differences: 1. A cheque for N$ 2 843 issued to your client, appears only in the cash book. 2. A cheque for N$ 4 612, received form a debtor has dishonoured. This does not appear in your cash book 3. Interest of N$ 1 617 on the overdraft has not been entered in the cash book. 4. A cheque for N$ 6 118, drawn on the trust banking account has been erroneously paid by the bank from the business bank account. 5. Your insurance stop order for N$ 772 is not recorded in the cash book. 6. An electronic transfer of 3 140 in payment of client Janes account, appears on the bank statement but It is not shown in the cash book. 7. A deposit of N$ 13456 which was entered in the cash book does not appear on the bank statement. 8. A deposit of 6 133 was incorrectly recorded in your cash book as N$ 6 331. 9. A Cheque of 8 429 was incorrectly recorded in your cash book as N$ 9 482 You are required to prepare: 1. The supplementary cash book of Jackson Attorneys and 2. The bank reconciliation statement at 31 January 2020
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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