QUESTION TWO (2) The bookkeeper of Go-write Stores failed to balance the bank reconciliation statement of 31 March 2015. The following reconciliation statement was presented to you: Bank reconciliation statement at 31 March 2015 - R Debit balance as per bank account on 31 March 2015 Add outstanding deposit 7 120 3120 10 240 2 500 3 600 Less outstanding cheques: No 311 318 321 Credit balance as per bank statement 1 700 2 440 This balance did not agree with the bank statement which reflected an overdraft of R7 900 On investigation you discovered: 1. The following transactions which appeared on the bank statement had not been accounted for by the bookkeeper (a) A cheque for R2 500, drawn by Brown, had been dishonoured. (b) A deposit intended for Growth Spot stores R1 500. This error is not yet corrected. (c) The bank had charged bank charges of R120 and R200 interest on overdraft. (d) A fixed deposit of R5 500 had matured. The capital sum plus interest of R550 had been transferred into the business bank account. (e) A stop order in respect of Rent payable to De Lucia Agency of R6 750. 2. Cheque 311 was drawn during May 2013 in favour of Shamiso in respect of Catering Services Continuous Assessment Paper 2 - May 2020. Page 14 3. Cheque 321 was drawn by Shago Stores and reflected an error on the bank statement REQUIRED: 1) Record the additional entries in the cash receipts journal and the cash payments journal. (Show only the bank columns) (6) 2) Show the bank account of Go-write Stores for March 2015, properly balanced. (4) 3) Show the Bank Reconciliation Statement of Go-write Stores on 31 March 2015 (Please provide your answers on the templates supplied on annexure A). QUESTION TWO (2) The bookkeeper of Go-write Stores failed to balance the bank reconciliation statement of 31 March 2015. The following reconciliation statement was presented to you: Bank reconciliation statement at 31 March 2015 - R Debit balance as per bank account on 31 March 2015 Add outstanding deposit 7 120 3120 10 240 2 500 3 600 Less outstanding cheques: No 311 318 321 Credit balance as per bank statement 1 700 2 440 This balance did not agree with the bank statement which reflected an overdraft of R7 900 On investigation you discovered: 1. The following transactions which appeared on the bank statement had not been accounted for by the bookkeeper (a) A cheque for R2 500, drawn by Brown, had been dishonoured. (b) A deposit intended for Growth Spot stores R1 500. This error is not yet corrected. (c) The bank had charged bank charges of R120 and R200 interest on overdraft. (d) A fixed deposit of R5 500 had matured. The capital sum plus interest of R550 had been transferred into the business bank account. (e) A stop order in respect of Rent payable to De Lucia Agency of R6 750. 2. Cheque 311 was drawn during May 2013 in favour of Shamiso in respect of Catering Services Continuous Assessment Paper 2 - May 2020. Page 14 3. Cheque 321 was drawn by Shago Stores and reflected an error on the bank statement REQUIRED: 1) Record the additional entries in the cash receipts journal and the cash payments journal. (Show only the bank columns) (6) 2) Show the bank account of Go-write Stores for March 2015, properly balanced. (4) 3) Show the Bank Reconciliation Statement of Go-write Stores on 31 March 2015 (Please provide your answers on the templates supplied on annexure A)
