Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Review the bank statement for the month of June in conjunction with the Bank Reconciliation Statement for May. Record any bank transactions in the appropriate

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribedimage text in transcribed

Review the bank statement for the month of June in conjunction with the Bank Reconciliation Statement for May. Record any bank transactions in the appropriate cash journals, then prepare a bank reconciliation statement for the month of June. Bank Reconciliation as at 31 May 20XX Balance as per bank statement Add: Outstanding deposit $ 16,172.20 300.00 16,472.20 Cr Less: Unpresented cheques Number 1191 1,640.00 Number 1193 200.00 1,840.00 Balance as per bank account $ 14,632.20 Dr 512-170 11595 Coastal Credit Union ABN 25 289 475 123 WaveRider BBS No.: Gold Coast Road Account No.: Gold Coast QLD 4217 Page: Statement Date: Debit Credit 1/06/XX Opening balance 1 of 1 30 June 20xx Balance 16,172.20 Cr Bank fees Loan Repayment 14.70 2,000.00 Deposit 300.00 14.457.50 Cr 315.70 2/06/XX Deposit Cheque 1191 1,640.00 Cheque 1193 200.00 12.933.20 Cr 5/06/XX Cheque 1194 376.42 Cheque 1195 960.00 11,596.78 Cr 10/06/XX Deposit 1,320.00 12,916.78 Cr 2,999.00 9,917.78 Cr 2,400.00 2,613.45 658.00 5,562.33 Cr 1,601.60 7.163.93 Cr 2,160.00 12/06/XX Cheque 1197 17/06/XX Cheque 1196 Cheque 1198 Deposit 18/06/XX Deposit 24/06/XX Deposit Cheque 1199 Cheque 1200 25/06/XX Cheque 1201 27/06/XX Cheque 1202 28/06/XX Cheque 1204 Deposit 88.00 87.85 352.00 9,148.08 Cr 8,796.08 Cr 8,364.08 Cr 432.00 4,060.00 3,065.04 7,369.12 Cr CASH RECEIPTS JOURNAL Page: 14 Debits Credits GST Date Account GST Post Bank Discount Ref Account Given Collected Hire Service Income Lesson Accounts Income Receivable Collected Other June 1 Cash Sale #3357 315.70 287.00 28.70 Sand and 10 Surf Holidays SANH 1,320.00 1.320.00 Hire 17 Equipment 170 (Cost) 658.00 59.82 598.18 18 Cash Sale #3359 1,601.60 256.00 1,200.00 145.60 Coastal 24 Beach Resort COAS 2,160.00 2.160.00 28 Coastal Tours COAT 3,065.04 309.60 30.96 3,405.60 9,120.34 309.60 30.96 543.00 1,200.00 6,885.60 234.12 598.18 Credits neque No. Post Ref CASH PAYMENTS JOURNAL Debits Accounts Payable GST Paid (Outlays) 3422 960.00 Other Petty Cash Discount Received GST Pald (Outlays) Bank Account 376,42 1194 685 342.20 1195 MAXH 960,00 PC 655 5.55 55.45 61.00 1196 SURW 2.400.00 2,400.00 1197 315 2,999.00 2,999.00 1198 COSW 2.751.00 2,613.45 125.05 12.50 PC 675 0.72 26.13 26.85 1199 645 8.00 80.00 88.00 1200 87.85 -87.85 1201 665 32.00 320.00 352.00 1202 230 432.00 432.00 1203 610 10.00 100.00 110,00 1204 690 4600.00 220 -540.00 4,060.00 BANK RECONCILIATION STATEMENT as at 30 June 20xx Balance as per bank statement on 30/06/20XX Unpresented cheque Balance as per bank account on 30/06/20XX

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

Sustainability Performance And Reporting

Authors: Irene M. Herremans

1st Edition

1951527208, 9781951527204

Students also viewed these Accounting questions

Question

(2) What is Project Ps NPV? What is its IRR? Its MIRR?

Answered: 1 week ago

Question

Review the findings of humanistic psychotherapy outcome research.

Answered: 1 week ago