Question Marks: 25) The following information was taken from the accounting records of River Stores, a general dealer, on 29 February 2020. River Stores Bank reconciliation Statement as at 31 January 2020 Details Amount (12 758) Balance as per bank statement (unfavourable) Add: Outstanding deposit Less: Outstanding Cheques 9 672 No. 561 (6 100) No. 678 (356) 750 Add: Error on bank statement Balance as per bank account (unfavourable) (8 792) Additional Information: The following preliminary totals appeared in the cashbooks on 29 February 2020: Cashbook Receipts: R 50 007 Cashbook Payments: R 23 515 On comparing the previous month's bank reconciliation statement, the current month's Cashbook Receipts and Cashbook Payments with the current month's bank statement, the following differences were found: 1.1 Cheque no. 678 appeared in February's bank statement The outstanding deposit of R9 672 reflected on the bank statement. 1.3 Cheque no. 561 was issued to pay for a computer purchased on the 28 August 2019 1.4 The following amounts on the February Bank Statement have not yet been captured in 1.2 the Cashbooks 1.4.1 Interest received on the current account: R165 1.4.2 Interest on overdraft R250 14.3 Service Fees R150, Credit Card Levy R100 1.5 The R750 error made by the bank was corrected 9/9/2020 1.6 1.7 Cheque no. 688, for RS 700, was erroneously debited twice on the Bank Statement. A cheque for R2 300 received from debtor N. Ndou was returned by the bank marked "R/D" (Return to Drawer). The Independent Institute of Education (Pty) Ltd 2020 Page 3 of 7 2020 20 1.8 Cheques drawn by River Stores during February 2020 did not appear on February Bank Statement: R650 No: 700 No No: 705 R3 750 1.9 On the 19th of February 2020, debtor S. Naidoo made a direct deposit into the business bank account, an amount of R10 300. 1.10 A deposit of R13 750 did not appear on the February Bank Statement. 1.11 The balance as per the Bank Statement on the 29th of February 2020 was R16 340 (favourable) Required: Q.1.1 Prepare the Cashbook Receipts and Cashbook Payments for February 2020. Begin (9) with the preliminary balances at the end of February Only the details and amount columns are required. (8) Q.1.2 Prepare the Bank account in the general ledger of River Stores for February 2020 (8) Q.1.3 Prepare the bank reconciliation statement for February 2020. I Marka Question 2 Question Marks: 25) The following information was taken from the accounting records of River Stores, a general dealer, on 29 February 2020. River Stores Bank reconciliation Statement as at 31 January 2020 Details Amount (12 758) Balance as per bank statement (unfavourable) Add: Outstanding deposit Less: Outstanding Cheques 9 672 No. 561 (6 100) No. 678 (356) 750 Add: Error on bank statement Balance as per bank account (unfavourable) (8 792) Additional Information: The following preliminary totals appeared in the cashbooks on 29 February 2020: Cashbook Receipts: R 50 007 Cashbook Payments: R 23 515 On comparing the previous month's bank reconciliation statement, the current month's Cashbook Receipts and Cashbook Payments with the current month's bank statement, the following differences were found: 1.1 Cheque no. 678 appeared in February's bank statement The outstanding deposit of R9 672 reflected on the bank statement. 1.3 Cheque no. 561 was issued to pay for a computer purchased on the 28 August 2019 1.4 The following amounts on the February Bank Statement have not yet been captured in 1.2 the Cashbooks 1.4.1 Interest received on the current account: R165 1.4.2 Interest on overdraft R250 14.3 Service Fees R150, Credit Card Levy R100 1.5 The R750 error made by the bank was corrected 9/9/2020 1.6 1.7 Cheque no. 688, for RS 700, was erroneously debited twice on the Bank Statement. A cheque for R2 300 received from debtor N. Ndou was returned by the bank marked "R/D" (Return to Drawer). The Independent Institute of Education (Pty) Ltd 2020 Page 3 of 7 2020 20 1.8 Cheques drawn by River Stores during February 2020 did not appear on February Bank Statement: R650 No: 700 No No: 705 R3 750 1.9 On the 19th of February 2020, debtor S. Naidoo made a direct deposit into the business bank account, an amount of R10 300. 1.10 A deposit of R13 750 did not appear on the February Bank Statement. 1.11 The balance as per the Bank Statement on the 29th of February 2020 was R16 340 (favourable) Required: Q.1.1 Prepare the Cashbook Receipts and Cashbook Payments for February 2020. Begin (9) with the preliminary balances at the end of February Only the details and amount columns are required. (8) Q.1.2 Prepare the Bank account in the general ledger of River Stores for February 2020 (8) Q.1.3 Prepare the bank reconciliation statement for February 2020. I Marka Question 2