Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

the question is i and ii 6. Amano had a bank balance on his bank statement for the month of May 2017 as GH43,730 and

image text in transcribed
the question is i and ii
6. Amano had a bank balance on his bank statement for the month of May 2017 as GH43,730 and it did not agree with his cash book balance of GH18,080. He investigated and discovered the following 3) the opening balance in the cash book had been wrongly brought down as GH13,450 instead of GH14,350. b) cheque issued to creditors for GH18,500 and GH13,250 had not been presented for payment. c) a cheque for GH23,000 deposited into the bank is yet to be credited d) dividend of GH12,500 from Addo Ltd has been paid directly.to the bank e) the bank had paid GH43,600 on a standing order to an insurance company cash payment for rent GH41,200 had been entered in the bank column of the cashbook g) bank charges totalling GH62,700 had been ornitted from the cash book h) the bank has credited a cheque of GH8,600 belonging to Amo in error to Amano's accounts You are required to update the cash book il prepare a Bank Reconciliation Statement for May 2017 (19 marks]

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions

Question

Understand corporate and HRM strategy.

Answered: 1 week ago