Bank reconciliation is one of the topics you did when you were doing Principles of Accounting 1 module at university. As an internship student in one of the reputable organisations you have been given a task by your internship supervisor to assist one of the clerks who is struggling to comprehend the concept of bank reconciliation. You so excited to showcase your skill in that area and you have been given the following bank statement and a cash book extract.

Bank Statement for August 2021:

AUGUST 2016		Dr P	Cr P	Balance P
1	Balance b/d			9 588 Cr
8	Lee		3 660	13 248 Cr
10	Cheque Number 011	1 332		11 916 Cr
20	Cheque deposit by Leeroy		1 824	13 740 Cr
21	Cheque Number 034	2 802		10 938 Cr
31	Standing order: Stacy	6 774		4 164 Cr
31	Credit transfer: Tina		600	4 764 Cr
31	Bank interest		168	4 932 Cr
31	Bank charges	102		4 830 Cr

The cash book for August 2021:

Dr.					Cr.
AUGUST 2021			AUGUST 2021
16	Balance b/d	9 588	1	Acks 011	1 332
21	Lee	3 660	6	Lovelyn 034	2 802
31	Doreen	1 824	30	Rudo 033	3 540
31	Dual Ltd	1 560	30	Balance c/d	8 958
		16 632			16 632

Required:

1. Write the cash book up to date (10)
2. Draw up a bank reconciliation statement as at 31 August 2021. (10)

Answer rating: 100% (QA)

Dr Aug21 16 Balance bd 16 Lee 31 Doree 31 Tina 31 Bank interest 3... View the full answer