Question

Data Flowed BANK RECONCILIATION STATEMENT Assume that you are working as an Accounts Office in Data Flow Limited, a Software House, and the month of January has just ended and you recived a bank statement from the bank. Upon scrunt you see that the balance as per bank statement is not equa to the bank as per cash book. You have investigated and found the following matters: 1) AJanuary 31, cash per the bank statement was £15.981: cash per the company's record was £ 17, 445. 2) Two debit memoranda accompanied the bank statement; service charges for January of E 24, and a £600 check drawn by Saif Ahmed marked "NSF 3) Cash receipts of E 4,353 on January 31 were not deposited until February The following checks had been issued in January but were not included among the paid checks returned by the bank na 620 for [978, no. 630 for 2052, and no. 641 for E 483 Required: Prente Bank Reconciliation Statement for Data Flow Lid. as on 31st January 2017

Answer 1

Data Flow Ltd
Bank Reconciliation Statement
Month Ended January 31, 2017
Cash Balance as per bank statement, January 31, 2017						$15,981
Add:	Deposit in transit					$4,353
Deduct:	Outstanding checks
	Check No. 620				$978
	Check No. 630				$2,052
	Check No. 641				$483	$3,513
Adjusted cash balance						$16,821
Balance as per depositor's record, January 31, 2017						$17,445
Deduct:	NSF Check				$600
	Service charges				$24	$624
Adjusted cash balance						$16,821

Answer 2

1. At December 31, cash per company records was $17445; the cash per bank statement was$15981.

2. Debit memoranda accompanied the bank statement; services charges for the December $24 and a $600 check drawn by Michel marked NSF.

3. Cash receipts of $4353 on December 31 were not deposited until January 2.

4. Checks issued in December but were not included among the paid checks returned by the bank, no.520 for $978, no.521 for $2052 and no.522 for $483.