The cash account of Kylie Ltd . Showed a balance of $ 1 6 3 3 5
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Question:
The cash account of Kylie Ltd Showed a balance of $ on December The bank statement as on that date showed a balance of $ After comparing the bank statement with the cash records, the following information was determined:
The bank returned an NSF cheque in the amount of $ that Kay has deposited on December The cheque was a payment on a customers account.
Ereceipts from customers on account received are worth $ These receipts have not yet been recorded in the books of the company.
The bank issued a credit memo for $ of interest earned on Kays account.
The bank issued a debit memo for bank service charges of $ which includes $ for processing the NSF cheque.
The company made an error in recording a customers deposit. The company recorded the payment on account as $ when it should have been recorded as $ The bank statement correctly records the deposit as $
Deposit in transit at the end of month is $
Outstanding cheques written in the month of December amounts $ Cheques still outstanding from the month of November amounts to $
Using above information, prepare a bank reconciliation statement as on December
Related Book For
Intermediate Accounting
ISBN: 978-1118742976
16th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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