Accounting Assignment || Bank Reconciliation System (BRS)
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Added on 2020-03-02
Accounting Assignment || Bank Reconciliation System (BRS)
Added on 2020-03-02
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Rod Retailer supplies you with the following information needed to complete his business’s bank reconciliation for the month of June.You are required to:a)Complete the bank ledger account for Juneb)Prepare a Bank Reconciliation Statement at 30th JuneBank reconciliation statement at 31st May:$Debit balance as per bank statement370Add unpresentedchequesCheque No.Amount146$60153$172156$185158$90507877Less outstanding deposits635Credit balance as per bank ledger account242Extract of the Cash Receipts and Cash Payment Journals for JuneCash Receipts JournalCash Payments JournalDateDetailsRec.No.AmountDateDetailsChq.No.AmountJune3SalesCDS1,140June4Wages1596006S. Clayton2154856Purchases1603808SalesCDS9207G. Lawson16140010SalesCDS24010Equipment16275515G. Pert21619513Purchases16360020R. Thornton2171,37014G. Grace16419026SalesCDS32017Advertising16525030P. Roos21849018Wages16661020Purchases16743024G. Coleman16830025Purchases16925028Cleaning1705030Purchases171400B. Gotch1723805,1605,595
PTOQuestion (continued)Bank Statement for the month of June:Bank of PrestonAccount of: Rod Retailer BankStatement for JuneDateParticularsDebit Credit Balance June 1Brought forward370 DR1Cash/Cheques 635265 CR3Cash/Cheques1,1401,405CR6Interest on overdraft201,385CR159600785 CRCash/Cheques4851,270CR8160380890 CRCash/Cheques9201,810CR10Cash /Cheques2402,050CR131614001,650CR14Bank charges351,615CR15Cash/Cheques1951,810CR191627551,055CR19163600455 CR20Direct deposit (P. Jones)1,6002,055CRCash/Cheques1,3703,425CR21Dishonoured cheque (G.Pert)1953,230CR22146603,170CR231641902,980CR241666102,370CR261674301,940CR28Cash/Cheques3202,260
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