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BZ102 Accounting Principles Assignment

Added on - 19 Apr 2021

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BZ102 Accounting PrinciplesPortfolio Question for Topic 7From the information below for Kruger Electrical, you arerequiredto reconcile thebusiness records with the bank statement by attending to the following for the monthof June:(a)Complete the Cash Journals.(b)Complete theCash at BankGeneral Ledger Account(c)Prepare the Bank Reconciliation Statement at30 June.The previous month’s Bank Reconciliation Statement is provided below, togetherwith extracts from the Cash Receipts Journal and Cash Payments Journal, the Cashat Bank account and the Bank Statement dated 30 June.Kruger ElectricalBANK RECONCILIATION STATEMENT31 MAYCredit balance as per bankstatement$$$1 862Plus outstanding deposits2903706602 522Less - unpresented ChequesNo. 153132No. 157370No. 16170No. 163104No. 166500No. 167217No. 168150No. 1695602 103Debit Balance as per Cash atBank A/C)$419
Bank Statement for Kruger ElectricalABC BankMonth of JuneDateParticularsDebitCreditBalance$$$June 1Balance brought forward1862CRJune 1Deposit290CRJune 1EFTPOS Deposit3702522CRJune 2Chq 1631042418CRJune 3Deposit121CRJune 3EFTPOS Deposit560CRJune 3Chq 1701042995CRJune 4Chq 1531322863June 6Chq 1695602303CRJune 8Deposit500CRJune 8EFTPOS Deposit3803183CRJune 9S. Wills Direct Debit4102773CRJune 11Chq 1732902483CRJune 12Deposit940CRJune 12EFTPOS Deposit6904113CRJune 13Bank Fees114102CRJune 14Interest Revenue504152CRJune 15Deposit120CRJune 15EFTPOS Deposit3204592CRJune 16Chq 157370CRJune 16Chq 1681504072CRJune 19Chq 1665003572CRJune 24Deposit940CRJune 24EFTPOS Deposit1834695CRJune 29Chq 17510803615CRJune 30Chq 1781000CRJune 30Bank Fees17CRJune 30EFTPOS Merchant fees422556CR
Kruger ElectricalCASH RECEIPTS JOURNAL (extract – only Cash at Bank column shown)DateParticularsCash at Bank$June 3Sales121EFTPOS Sales5608Sales500EFTPOS Sales38012Sales940EFTPOS Sales69015Sales120EFTPOS Sales32024Sales940EFTPOS Sales18330Sales89EFTPOS Sales10230Interest revenue on14th Jun50Totals4995
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