On November 30, SugarMama Plc has the below information related to cheques and cash: 1. The...

 

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On November 30, SugarMama Plc has the below information related to cheques and cash: 1. The bank balance as per the accounting records of the company amounts to $42,500 and the bank balance as per the bank statement amounts to $37,758. 2. Collected cash of $6,244 on November 30 will be transferred to the Bank on December 1. 3. In the Bank Statement there is a credit of $167 showed as interest earned for November. 4. There are two Outstanding Cheques NO 921 of amount $964 and NO 925 of amount $1,085. 5. In the Bank Statement there is a debit of $14 shown as Bank Service Charges, Non- Sufficient-Funds Cheque of Mr. Candy with $700. Required: a. Prepare a Bank reconciliation statement on November 30. b. Prepare the necessary journal entries after the preparation of the Bank reconciliation. On November 30, SugarMama Plc has the below information related to cheques and cash: 1. The bank balance as per the accounting records of the company amounts to $42,500 and the bank balance as per the bank statement amounts to $37,758. 2. Collected cash of $6,244 on November 30 will be transferred to the Bank on December 1. 3. In the Bank Statement there is a credit of $167 showed as interest earned for November. 4. There are two Outstanding Cheques NO 921 of amount $964 and NO 925 of amount $1,085. 5. In the Bank Statement there is a debit of $14 shown as Bank Service Charges, Non- Sufficient-Funds Cheque of Mr. Candy with $700. Required: a. Prepare a Bank reconciliation statement on November 30. b. Prepare the necessary journal entries after the preparation of the Bank reconciliation.

Answer rating: 100% (QA)

a Bank Reconciliation Statement on November 30 1 Bank balance as per companys records 42500 2 Add Co... View the full answer