BANK Reconciliation Statement Questions AND Answers JUNE 2020 PDF

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EXERCISES ON BANK RECONCILIATION STATEMENTS Question 1: From the following information, update the cash book and prepare a bank reconciliation statement as at 31 December 2019: Cash book (Bank column only) Date Details Amount Date Details Amount (P) 2019 (P) 2019 Dec 1 Balance b/fd 370 Dec 3 City council (108) 150 Dec 9 Pule 300 Dec 9 Matome (109) 175 Dec 12 Thebe 185 Dec 16 Boy (111) 130 Dec 17 Joe 100 Dec 30 Sam (112) 210 Dec 31 Lame 130 Dec 30 Peter (113) 150 Dec 31 Balance c/d 270 1 085 1 085 Bank Statement for the month of December 2019 Date Details Withdrawals (P) Deposits (P) Balance (P) Dec 1 Balance 370 Dec 5 Cheque (108) 150 220 Dec 10 Cheque (Pule) 300 520 Dec 11 Cheque (109) 175 345 Dec 14 Cheque (Thebe) 185 530 Dec 19 Cheque (111) 130 400 Dec 29 Credit transfer by George 850 1 250 Dec 30 Bank charges 50 1200 Dec 30 Direct debit 400 800 Question 2: From the following details, prepare an updated cash book and bank reconciliation statement as at 31 Jan 2020 Cash book (Bank column only) Date:2020 Details Amount Date:2020 Details Amount (P) (P) Jan 1 Balance b/fd 1 800 Jan 8 Tom (2011) 350 Jan 7 Moses 250 Jan 15 Peter (2013) 200 Jan 22 Elan 150 Jan 28 Small (2014) 120 Jan 28 Williams 260 Jan 29 Big (2016) 170 Jan 30 David 180 Jan 31 Balance c/d 1 800 2 640 2 640 Bank Statement for the month of January 2020 Date Details Withdrawals (P) Deposits (P) Balance (P) Jan 1 Balance 1 800 Jan 8 Cheque (Moses) 250 2050 Jan 10 Cheque (2011) 350 1 700 Jan 16 Cheque (2013) 200 1 500 Jan 24 Cheque (Elan) 150 1 650 Jan 28 Credit transfer-Sam 1 000 2 650 Jan 29 Bank charges 200 2 450 Jan 30 Insurance-Standing order 500 1 950

Question 3: From the following details, prepare an updated cash book and bank reconciliation statement as at 29 Feb 2020 Cash book (Bank column only) Date Details Amount Date Details Amount (P) 2020 (P) 2020 Feb 1 Balance b/fd 2 300 Feb 5 Nancy (310) 220 Feb 7 Tumelo 250 Feb 12 Grey (312) 440 Feb 16 Brown 320 Feb 16 Stanley (313) 150 Feb 26 Goratha 400 Feb 27 Rosinah(315) 180 Feb 27 Theo 590 Feb 28 Balance c/d 2 870 3 860 3 860 Bank Statement for the month of February 2020 Date Details Withdrawals (P) Deposits (P) Balance (P) Feb 1 Balance 2 300 Feb 7 Cheque (Tumelo) 250 2 550 Feb 8 Cheque (310) 220 2 330 Feb 17 Cheque (313) 150 2 180 Feb 18 Cheque (Brown) 320 2 500 Feb 25 Standing order 300 2 200 Feb 27 Credit transfer-Tandy 350 2550 Feb 28 Direct debit 200 2 350 Feb 28 Bank charges 125 2 225 Question 4: From the following details, prepare an updated cash book and bank reconciliation statement as at 31 March 2019 Cash book (Bank column only) Date Details Amount Date Details Amount (P) 2019 (P) 2019 Mar 1 Balance b/fd 2 600 Mar 5 Big 170 Mar 7 Joe 150 Mar 12 John 435 Mar 16 Gold 90 Mar 16 Peter 89 Mar 28 Brown 350 Mar 29 GU Sports Club 96 Mar 30 Blue 620 Mar 31 Balance c/d 3 020 3 810 3 810

Date Mar 1 Mar 7 Mar 8 Mar 16 Mar 17 Mar 18 Mar 28 Mar 29 Mar 30 Mar 30 Mar 31

Bank Statement for the month of March 2019 Details Withdrawals (P) Deposits (P) Balance (P) Balance b/fd 2 600 Cheque - Joe 150 2 750 Big 170 2 580 Cheque-Gold 90 2 670 John 435 2 235 Peter 89 2 146 Cheque-Brown 350 2 496 Standing order 46 2 450 Credit transfer-Johnson 95 2 545 Direct debit 150 2 395 Bank Charges 85 2 310

Question 5: From the following details, prepare an updated cash book and bank reconciliation statement as at 31 Jan 2020 Cash book (Bank column only) Date: Details Amount Date: Details Amount (P) 2020 (P) 2020 Jan 1 Balance b/fd 709 Jan 9 Davis (222) 140 Jan 6 Howe 308 Jan 27 Peter (223) 63 Jan 24 Sam 120 Jan 31 Balance c/d 1 164 Jan 29 King 124 Jan 31 John 106 1 367 1 367 Bank Statement for the month of January 2020 Date Details Withdrawals (P) Deposits (P) Balance (P) Jan 1 Balance b/fd 709 Jan 5 Cheque (Howe) 308 1 017 Jan 14 Cheque (222) 140 877 Jan 24 Cheque (Sam) 120 997 Jan 29 Cheque (King) 124 1 121 Jan 29 Botswana Insurance 77 1 044 Jan 30 Credit transfer –Paul 50 1 094 Jan 31 Bank charges 49 1 045 Jan 31 Direct debit 100 945

Question 6: From the following details, prepare an updated cash book and bank reconciliation statement as at 31 Jan 2020 Cash book (Bank column only) Date : Details Amount Date: Details Amount (P) 2020 (P) 2020 Jan 1 Balance b/fd 5 197 Jan 6 Tom (555) 122 Jan 16 Marshall 244 Jan 30 Dick (556) 208 Jan 29 Alex 333 Jan 30 Thomson (557) 490 Jan 31 Lame 160 Jan 31 Balance c/d 5 114 5 934 5 934 Bank Statement for the month of January 2020 Date Details Withdrawals (P) Deposits (P) Balance (P) Jan 1 Balance b/fd 5 197 Jan 8 Cheque (555) 122 5 075 Jan 16 Cheque (Marshall) 244 5 319 Jan 30 Credit transfer –Mathews 57 5 376 Jan 31 Standing order 49 5 327 Jan 31 Bank charges 28 5 299

Question 7: Prepare an updated cash book and a bank reconciliation statement as at 31 January 2020 Cash book (Bank column only) Date Details Amount Date Details Amount (P) 2020 (P) 2020 Jan 1 Balance b/fd 5 190 Jan 6 Kamau 155 Jan 16 Martha 285 Jan 30 Ben 325 Jan 21 Gibbs 390 Jan 30 Shine 585 Jan 31 Lovely 195 Jan 31 Balance c/d 4 995 6 060 6 060 Bank Statement for the month of January 2020 Date Details Withdrawals (P) Deposits (P) Balance (P) Jan 1 Balance b/fd 5 190 Jan 8 Kamau 155 5 035 Jan 16 Cheque-Martha 285 5 320 Jan 21 Cheque- Gibbs 390 5 710 Jan 31 Credit transfer-Turner 180 5 890 Jan 31 Bank charges 285 5 605 Jan 31 Standing Order 65 5 540 Jan 31 Direct debit 60 5 480

ANSWERS: Question 1 Updated Cash Book (Bank Column) Dec 31 Totals so far 1 085 Dec 31 Totals so far Dec 31 Credit transfer-George 850 Dec 31 Bank charges Dec 31 Direct debit Dec 31 Balance c/d 1 935 Bank Reconciliation Statement as at 31 December 2018 Balance as per Cash Book Add unpresented cheques: Sam 210 Peter 150

815 50 400 670 1 935 670

360 1 030

Less Banking not yet reflected on Bank Statement: Joe Lame

100 130

Balance as per Bank Statement

(230) 800

Question 2 Updated Cash Book (Bank Column) Totals so far 2 640 Jan 31 Totals so far Credit transfer-Sam 1 000 Jan 31 Bank charges Jan 31 Standing order Jan 31 Balance c/d 3 640 Bank Reconciliation Statement as at 31 January 2019 Balance as per Cash Book Add unpresented cheques: Small 120 Big 170 Jan 31 Jan 31

840 200 500 2 100 3 640 2 100

290 2 390

Less Banking not yet reflected on Bank Statement: Williams David Balance as per Bank Statement

260 180

(440) 1 950

Question 3 28 Feb 28 Feb

Totals so far Credit transfer

Updated Cash Book (Bank Column) 3 860 28 Feb Totals so far 350 28 Feb Standing order 28 Feb Direct debit 28 Feb Bank charges 28FEb Balance c/d 4 210

990 300 200 125 2 595 4 210

Bank Reconciliation Statement as at 28 February 2019 Balance as per Cash Book Add unpresented cheques: Grey 440 Rosinah 180

2 595

620 3 215

Less Banking not yet reflected on Bank Statement: Goratha Theo Balance as per Bank Statement Question 4 Updated Cash Book (Bank Column) Mar 31 Totals so far 3 810 Mar 31 Totals so far Mar 31 Credit transfer 95 Mar 31 Standing order Mar 31 Direct Debit Mar 31 Bank charges Mar 31 Balance c/d 3 905 Bank Reconciliation Statement as at 31 March 2019 Balance as per Cash Book Add unpresented cheques: GU Sport club

400 590

(990) 2 225

790 46 150 85 2 834 3 905 2 834 96 2 930

Less Banking not yet reflected on Bank Statement: Blue Balance as per Bank Statement

(620) 2 310

Question 5 Updated Cash Book (Bank Column) Jan 31 Totals so far 1 367 Jan 31 Total so far Jan 31 Credit transfer 50 Jan 31 Standing order Jan 31 Bank charges Jan 31 Direct debit Jan 31 Balance c/d 1 417 Bank Reconciliation Statement as at 31 January 2020 Balance as per Cash Book Add unpresented cheques: Peter

203 77 49 100 988 1 417 988 63 1 051

Less Banking not yet reflected on Bank Statement: John Balance as per Bank Statement

(106) 945

Question 6:

Jan 31 Jan 31

Totals so far Credit transfer

Updated Cash Book (Bank Column) 5 934 Jan 31 Totals so far 57 Jan 31 Standing order Jan 31 Bank charges Jan 31 Balance c/d 5 991

820 49 28 5 094 5 991

Bank Reconciliation Statement as at 31 January 2020 Balance as per updated cash book Add Unpresented cheques: Dick 208 Thomson 490 Less Banking not yet reflected in Bank Statement : Lame Balance as per Bank Statement

Alex

333 160

5 094 698 5 792 (493) 5 299

Question 7: Jan 31 Jan 31

Total so far Credit transfer

Updated Cash Book (Bank Column) 6 060 Jan 31 Totals so far 180 Jan 31 Standing order Jan 31 Bank charges Jan 31 Direct debit Jan 31 Balance c/d 6 240

Bank Reconciliation Statement as at 31 January 2020 Balance as per updated cash book Add Unpresented cheques: Ben 325 Shine 585 Less Banking not yet reflected in Bank Statement : Lovely Balance as per Bank Statement

1 065 65 285 60 4 765 6 240

4 765 910 5 675 (195) 5 480...