(solved) Financial Accounting- Assignment
19 Pages2547 Words48 Views
Added on 2020-11-09
(solved) Financial Accounting- Assignment
Added on 2020-11-09
ShareRelated Documents
FINANCIAL ACCOUNTINGContents1
Part A – From the information of bank transactions given below you are required to prepare bank reconciliation statement and adjusting entries for Lighter Company..........................................................................................................................................3Part B – The balance extracted from the records of Sky at 31 August 2018 were as follows:..........................................................7Reference.................................................................................................................................................................................................20Part A – From the information of bank transactions given below you are required to prepare bank reconciliation statement and adjusting entries for Lighter Company.2
Bank Reconciliation Statement Lighter Company ended December 31, 2018 £ £ Original Balance per Bank Statement 5,718.28 Add: Outstanding lodgement 896.50 6,614.78 Less: Unpresented cheques CheckNo. Date 66101/12/2018 (108.15)66714/12/2018 (15.50)66916/12/2018 (19.00)67117/12/2018 (121.50)67418/12/2018 (168.75) (432.90) Corrected Balance 6,181.88 £ £ Original Balance per LB 5,477.52 Add: Credit Memoranda (CM) Date Explanation 22/12/201 Collection a receivable from customer BRG. 768.00 3
825/12/2018 Dividends received from MSN Plc. 305.38 31/12/2018 Interest earned on average account balance during December. 45.98 1,119.36 6,596.88 Less: Debit Memoranda (DM) Date Explanation 22/12/2018 Fee charged by bank for handing collection of receivable (99.00)30/12/2018 A cheque for 250 from customer (was paid into bank on27 Dec, but has bee dishoured on 31 Dec) (250.00)31/12/2018 Service charge by bank for month of December (30.00) (379.00) Less: Check No. 673 (36.00) Corrected Balance 6,181.88 4
End of preview
Want to access all the pages? Upload your documents or become a member.