Question

Cash and cheques amounting to £690 had been paid int not credited by the bank until 2 January 2016. (a) Starting with the debit balance of £1,500, bring the cash b then balance the bank account. (b) Prepare a bank reconciliation statement as at 31 December 20 (Midland Examining Group: GCSE) 30.6A In the draft accounts for the year ended 31 October 2016 of Thomas p the balance at bank according to the cash book was £894.68 in hand. Subsequently the following discoveries were made: (1) Cheque number 176276 dated 3 September 2016 for £310.84 in favo been correctly recorded in the bank statement, but included in the E301.84. Bank commission charged of £169.56 and bank interest charged of £109,.10 ha the bank statement on 23 October 2016, but not included in the cash book (3) The recently received bank statement shows that a cheque for £29.31 received from and credited in the bank statements on 9 October 2016 has now been di ited in the bank statement on 26 October 2016. The only entry in the cash book for this shonoured and records its receipt on 8 October 2016. (4) Cheque number 177145 for £15.10 has been recorded twice as a credit in the cash book (5) Amounts received in the last few days of October 2016 totalling £1,895.60 and recorded in cash book have not been included in the bank statements until 2 November 2016. (6) Cheques paid according to the cash book during October 2016 and totalling £395.80 wer presented for payment to the bank until November 2016. Traders credits totalling £210.10 have been credited in the bank statement on 26 October 201 but not yet recorded in the cash book. A standing order payment of £15.00 on 17 October 2016 to Countryside Publications has been recorded in the bank statement but is not mentioned in the cash book. (8) Required (a) Prepare a computation of the balance at bank to be included in Thomas P. Lee's statement of financial position as at 31 October 2016 400

Answer 1