Lecture 7 BANK Reconciliations Solutions PDF

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CASH RECEIPTS JOURNAL - LR STORES - MARCH 2001DETAILS AMOUNTTotal 174 000 A Rose 5 000 Interest on Current Account 90 179 090CASH PAYMENTS JOURNAL - LR STORES - MARCH 2001DETAILS AMOUNTTotal 112 000 Bank Charges (25 + 50) 75 Insurance 1 500 Ms Smith ( Dishonoured cheque) 2 100 115 675BANK ACCOUNTBal...

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CASH RECEIPTS JOURNAL - LR STORES - MARCH 2001 DETAILS Total A Rose Interest on Current Account

CASH PAYMENTS JOURNAL - LR STORES - MARCH 2001 DETAILS Total Bank Charges (25 + 50) Insurance Ms Smith ( Dishonoured cheque)

AMOUNT 174 000 5 000 90 179 090

AMOUNT 112 000 75 1 500 2 100 115 675

BANK ACCOUNT Balance

b/d

Total Receipts

45 150 179 090

Total Payments Balance

c/ d

224 240

224 240

LR STORES BANK RECONCILIATION STATEMENT AS AT 31 MARCH 2001 DEBIT Credit balance as per Bank Statement Credit outstanding deposit Debit incorrect deposit 15 000 Debit outstanding cheques 218 900 220 6 700 223 500 225 Debit balance as per Bank Account

115 675 108 565

55 000 108 565 186 665

CREDIT 181 665 5 000

186 665

OCTOBER/ NOVEMBER 2012 QUESTION 1 (26 marks) (30 minutes) Cash receipts journal of Grey Services for July 2012

**

Pencil total/ sub-total Cheque 558 cancelled (repairs) Rent income (B/S) Correction cheque 824 (purchases) OR ( R4 600 ) Cancellation cheque 828 (Water and electricity)

Receipts (Bank) R 6 848  410  290  200  84 7 832

*

(8) Cash payments journal of Grey Services for July 2012 Payments (Bank) R 8 893  12

Pencil total/ sub-total Interest on Bank acc (B/S) ## Bank Charges (21+21+6+40+6+90+75+25) OR

284

(  if answer is R 284) OR (169  +90+25) OR (194 

+90

)

9 189 **

(Cheque no 824

R4 400 ) (6)

Dr

BANK ACCOUNT Cr

2012 July

R 1 31

Balance b/d Total receipts

 202  832

2

2012 July

31

Total payments Balance c/d

R  9 189

7

^845

10

10 034

034 Aug

1

Balance

b/d

^ 845

(4) BANK RECONCILIATION STATEMENT AS AT 31 July 2012 Debit R Balance as per bank statement Credit outstanding deposit Debit cheques not yet presented for payment:  152 No. 813 No. 827  376  685 No. 829

Credit R  906  1 152

OR (  if R 1 213)

Balance as per bank account

 845 2 058

2 058

(8)...