Question
The bank columns in the cash book for June 2019 and the bank statement for that month for D. Hogan are as follows: Dr Cash
The bank columns in the cash book for June 2019 and the bank statement for that month for D. Hogan are as follows: Dr Cash Book Cr 2019 $ 2019 $ 1-Jun Balance b/d 1410 5-Jun L. Holmes 180 7-Jun J. May 62 12-Jun J. Rebus 519 16-Jun T. Wilson 75 16-Jun T. Silver 41 28-Jun F. Slack 224 29-Jun Blister Disco 22 30-Jun G. Baker 582 Jun-30 Balance c/d 1591 2353 2353 Bank Statement Jun-19 Dr Cr Balance $ $ $ 1 Balance b/d 1410 7 Cheque 62 1472 8 F. Lane 180 1292 16 Cheque 75 1367 17 J. Rebus 519 848 18 T. Silver 41 807 28 Cheque 224 1031 29 SLM standing order 52 979 30 Flynn: trader's credit 64 1043 30 Bank charges 43 1000 As the accountant, you have been asked to do the following: a. Prepare an updated cashbook for the month. (8 marks) (CLO 5) b. Prepare a bank reconciliation statement for the month. (6 marks) (CLO 5) c. Describe three (3) objectives of internal control. (6 marks) (CLO 6) [Total 20 marks]
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