Answered step by step
Verified Expert Solution
Question
1 Approved Answer
QUESTION 3 NonnScents Enterprise is a company operated in Changlon, Kedah. As of 31 October 2021, NonnScents Enterprise's cash account have a balance of
QUESTION 3 NonnScents Enterprise is a company operated in Changlon, Kedah. As of 31 October 2021, NonnScents Enterprise's cash account have a balance of RM33,822. The bank statement from Bank Tarak Tipu on that date showed the balance was RM34,022.50. A comparison of the details on the bank statements with the details in the cash account revealed the following facts: 2. The statement included a bank charges of RM200 for printing additional company checks. A cash deposit of RM4,180.75 was wrongly recorded in the book as RM4,230.75. 3. Outstanding checks and deposits in transit as at 31 October were RM1,381.25 and RM4,680.75 respectively. 4. 5. 6. A company check no. 2212 for RM3,425 was incorrectly recorded in the book as RM3,290. Bank collected a RM10,000 note receivable plus RM400 interest on behalf of the company. The bank charged a collection fee of RM15. The bank mistakenly debited the company account of RM3,000 for a checks issued by NoCent Enterprise. 7. Returned with the statement is a check amounted RM3,500 marked as NSF, REQUIRED: Prepare the bank reconciliation for NonnScents Enterprise. QUESTION 4 Discuss the advantages of Transaction Authorisation Code (TAC) used for online banking.
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