Question $2$

$[23$ Marks$]$

On $31$ August $2024,$ a comparison of the bank statements with the cash journals of Spencer Traders reflected the following:

The bank account in the general ledger reflected a favourable balance of R$30500$ on $1$ August $2024.$

The bank statement showed a credit balance of R$79036$ on $31$ August $2024.$

Totals of the cash journals at $31$ August $2024$:

Cash receipts journal

R$64200$

Cash payments journal

R$30254$

$4.$ A Deposit amounting to R$5500$ entered in the cash receipts journal on $31$ August $2024$ has not been credited on the bank statement.

$5.$ The following cheques have not been presented for payment:

$\backslash$table$[[386,$R$4200],[387,$R$2180],[389,$R$3000],[249,$R$2200]]$

$($This cheque was drawn on $31$ January $2024)$

$6.$ A stop order of R$500$ for Motor Vehicle insurance appeared on the bank statement but had not yet been entered in the Cash Journal.

$7.$ A Debtor, Mr Kemp, paid his account of R$6000$ directly into the bank account, but this amount had not yet been recorded in the cash journal.

$8.$ A cheque for R$440$ received from a debtor on his account of R$480$ and deposited was marked R$/$D on the bank statement.

$9.$ There appeared a debit of R$1200$ on the bank statement. This amount was actually for Spender Traders.

$10.$ Service charges of R$100$ and bank interest earned of R$250$ appeared on the bank statement.

$11.$ A deposit of R$5000,$ appearing on the bank statement, was reflected in the Cash journal as R$500.$

$5$

HFAC$130-1-$Jan$-$Jun$2025-$FA$2-$AM$-$V$2-31012025$

REQUIRED:

$2\mathrm{.}1$ Prepare the adjusted bank account, as it would appear in the General Ledger of Spencer Traders for the month ended $31$ August $2024.($Your adjustments can be made directly into the bank account$).$

$2\mathrm{.}2$Prepare the bank reconciliation statement at $31$ August $2024.$

$(10)$