Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 9 Farah operates service apartment. She just received the 31 May 2018 bank statement from National Bank and the statement shows an ending balance

image text in transcribed

Question 9 Farah operates service apartment. She just received the 31 May 2018 bank statement from National Bank and the statement shows an ending balance of RM1,000 Listed on the statement are and EFT rental collection of RM500, a service charge of RM20, NSF cheques totaling RM150 and a RM10 charged for printed cheques. In reviewing her cash records, Farah identifies RM420 sheques still outstanding and a deposit in transit of RM1.,550. The company's Cash account shows balance of RM1810 on 31 May 2018. Instructions (a)Prepare the bank reconciliation at 31 May 2018. (b) Journalize the entries required by the reconciliation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Basic Accounting Auditing Concepts Internal Auditing And Guiding

Authors: Bertram Bessette

1st Edition

B09PMFWVSJ, 979-8796265253

More Books

Students also viewed these Accounting questions