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The bank reconciliation for Party Supplies at 31 July 2018 is shown below: Party Supplies Ltd $17,900.00 Cash balance as per bank statement d: outstanding
The bank reconciliation for Party Supplies at 31 July 2018 is shown below: Party Supplies Ltd $17,900.00 Cash balance as per bank statement d: outstanding deposits $18,000.00 $55.00 $200.00 500.00 755.00 $17,245.00 The August 2018 bank statement appeared as follows: Bank statement for A 2018 Withdrawal 100.00 300.00 $18,000 2,180.00 500.00 25.00 1/08/2018 Closing balance Party Supplies Ltd's accounting records for August 2018 showed the following Date Chg number Amount $195. 340 132 2/08/2018 2/08/2018 134 53, 135 136 137 5,000. 2/08/2018 2,1 808/20185, 10/2018 $1, 3/08/2018 $2 24/08/2018 $3, 27/08/2018 29/08/2018 $1,200 1/08/2018 $1, 5511 8/08/2018 10/08/2018 17/08/2018 139 141 142 $3,140. $16,754 $18,874 The current balance in the "bank ledger account (after the above receipts and payments have been entered) is: $17,245.00 $18,874 deposits $16,754.50 withdrawals $19,364.50. The company's bookkeeper has come to you for help, as she is having trouble reconciling the bank account at 31 August 2018. i Prepare the bank reconciliation for Party Supplies Ltd at 31 August 2018. i Prepare the journal entries to correct any errors made by Party Supplies Ltd, and to record transactions that have not yet been entered into the company's accounting records. (Note: The correction of any errors relating to the recording of cheques should be made to Accounts payable. The correction of any errors relating to deposits (other than interest received) should be made to 'Accounts receivable:) i) Prepare the 'bank' ledger account (using the T-Account format) for August 2018, in order to determine the balance in the account after the above journal entries have been recorded and posted
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