Here is the following information is given for the Amazon Traders account. The reconciliation on June 30
Question:
Here is the following information is given for the Amazon Traders account. The reconciliation on June 30 showed that the Bank Ledger Account had a credit balance (overdraft/owing) of $3,182.90. The Bank Statement had reconciled to the Bank Ledger Account after allowing for:
• An outstanding deposit of $733.10 and
• Unpresented cheque #324856 for $934.02 July Cash Receipt and Payments: Extract Cash Receipts Book of Amazon Traders Extract Cash Payments Book of Amazon Traders 02/07 $ 1,446.52 01/07 #324875 $ 1,526.16 07/07 3,486.72 04/07 #324876 905.70 11/07 1,538.90 08/07 #324877 2,404.38 11/07 436.84 12/07 #324878 1,702.86 12/07 2,360.20 15/07 #324879 1,296.98 21/07 1,039.30 20/07 #324880 561.40 30/07 846.76 28/07 #324881 1,958.30 BMS Bank Statement for the month of July The BMS Bank Bank Statement for Amazon Traders Date Particulars Debit Credit Balance Brought forward $ 2,981.98 Dr 01/07 Cheque #324875 $ 1,526.16 4,508.14 Dr Cash/cheques deposit $ 733.10 3,775.04 Dr 02/07 Cash/cheques deposit 1,446.52 2,328.52 Dr 05/07 Cheque #324856 934.02 3,262.54 Dr 07/07 Cash/cheques deposit 3,486.72 224.18 Cr 11/07 Cash/cheques deposit 1,538.90 1,763.08 Cr 12/07 Cheque #324877 2,404.38 641.30 Dr Cash/cheques deposit 436.84 204.46 Dr 15/07 Cheque book fee 50.00 254.46 Dr 17/07 Cheque #324879 1,296.98 1,551.44 Dr 18/07 Cash/cheques deposit 2,360.20 808.76 Cr 21/07 Cheque #324878 1,702.86 894.10 Dr 24/07 L. Mami cheque dishonour 551.56 1,445.66 Dr Dishonour fee 15.00 1,460.66 Dr 25/07 Cheque # 324876 905.70 2,366.36 Dr 26/07 Cash/cheques deposit 1,039.30 1,327.06 Dr 31/07 Cheque #324880 561.40 1,888.46 Dr Task 3 Amazon Traders Policies & Procedures: Entering Cash Receipts & Payments
• All supporting documentation is to be checked for accuracy prior to entering the system
• Supporting documentation must be authorised by Sam Smith the owner • Please make sure you have checked each amount of cash receipts and payments according to the bank statement provided
• All total amount of Cash Receipts, Payments and the bank ledger balance need to calculate correctly before proceeding to the next task. From the above information you need to prepare: Cash Balance Summary (Cash Receipts and Cash Payments) and Bank Ledger Account for Amazon Traders as of 31 July. Answer: Cash Receipts Cash Payments Date Details Amount $ Date Details Amount $ Total Total Bank Ledger Account July – (you must specify if Balance is DR or CR) Bank 100 Date Details Debit Credit Balance 1/7 Balance b/d 31/7 Receipts 31/7 Payments Write the Bank Balance amount: $_________
Operations Management in the Supply Chain Decisions and Cases
ISBN: 978-0073525242
6th edition
Authors: Roger Schroeder, M. Johnny Rungtusanatham, Susan Goldstein