The following information relates to the cash position of Hinterland Spring Water Pty Ltd on 31...
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The following information relates to the cash position of Hinterland Spring Water Pty Ltd on 31 May 2023. (1) Debit balance as per cash at bank account was $5,824. (2) Credit balance as per bank statement was $6,412. (3) Cheques that have been written but not yet presented were Cheque No. 1024 for $135 Cheque No. 1115 for $840, and Cheque No. 1118 for $295 (4) Deposits not shown on the bank statement were $725 (5) A cheque written for $162 was incorrectly recorded as $126 in the bank statement. (6) The bank statement for May 2023 showed that the bank had charged the company a $20 service fee. (7) The cash receipt journal incorrectly recorded a debit to cash at bank and a credit to sales revenue for $536, whereas the correct amount as deposited to the bank should be $563. Required: Prepare a bank reconciliation for Hinterland Spring Water Pty Ltd at 31 May 2023. If necessary, adjust for the cash at bank ledger account and prepare the journal entries required by the bank reconciliation performed using general journal(s). The following information relates to the cash position of Hinterland Spring Water Pty Ltd on 31 May 2023. (1) Debit balance as per cash at bank account was $5,824. (2) Credit balance as per bank statement was $6,412. (3) Cheques that have been written but not yet presented were Cheque No. 1024 for $135 Cheque No. 1115 for $840, and Cheque No. 1118 for $295 (4) Deposits not shown on the bank statement were $725 (5) A cheque written for $162 was incorrectly recorded as $126 in the bank statement. (6) The bank statement for May 2023 showed that the bank had charged the company a $20 service fee. (7) The cash receipt journal incorrectly recorded a debit to cash at bank and a credit to sales revenue for $536, whereas the correct amount as deposited to the bank should be $563. Required: Prepare a bank reconciliation for Hinterland Spring Water Pty Ltd at 31 May 2023. If necessary, adjust for the cash at bank ledger account and prepare the journal entries required by the bank reconciliation performed using general journal(s).
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Related Book For
Financial Accounting Reporting Analysis And Decision Making
ISBN: 9780730313748
5th Edition
Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong
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