Reggis Amevor, a well-rounded gentleman, prides himself on keeping a positive cash balance at the bank...

  

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Reggis Amevor, a well-rounded gentleman, prides himself on keeping a positive cash balance at the bank all the times. He becomes apoplectic on discovering that the statement of his account at the Stanbic Bank at 31 December 2002 shows an overdraft of GH¢44. He wishes you as his accountant to resolve the matter. Reggis banks all receipts, and all his payments are made by cheque. The bank statement at 31 December 2002 is as follows. STANBIC BANK PLC South Kaneshi Branch Account 71239581-R Amevor Esq 2002 1 Dec 8 Dec 15 Dec 15 Dec 19 Dec 19 Dec 27 Dec 30 Dec 30 Dec 30 Dec 30 Dec 1 Dec 3 Dec 5 Dec 6 Dec Balance b/f Credits Credits 343842 Credits 343844 Credits 343846 10 Dec 17 Dec 24 Dec 30 Dec 31 Dec Charges Cheque returned Amount paid in by NLM Reggis' cash account for December 2002 is as follows. 2002 GH¢ 2002 50 140 Balance b/f P T Ltd M & Co. KD Ltd J Ltd S Ltd MN Ltd TNT & Co 178 695 479 Payments GH¢ 86 623 768 85 3.104 5 Dec 19 Dec 28 Dec 28 Dec 28 Dec 684 31 Dec 925 762 69 623 GP Ltd TP Ltd SR Ltd. Q AB Receipts GH¢ 318 1.174 Balance b/f 86 623 84 Balance GH¢ 734 Cr 1,052 Cr 1,542 Cr 703 Cr 1.326 Cr 44 Dr GHe 905 762 187 43 236 971 3,104 The cheque issued to GP Ltd on 5 December 2002 for GHe925 was entered into the cash book as GH¢905 in error. Requirement Make any necessary adjustment to the cash account and prepare a bank reconciliation statement at 31 December 2002. Reggis Amevor, a well-rounded gentleman, prides himself on keeping a positive cash balance at the bank all the times. He becomes apoplectic on discovering that the statement of his account at the Stanbic Bank at 31 December 2002 shows an overdraft of GH¢44. He wishes you as his accountant to resolve the matter. Reggis banks all receipts, and all his payments are made by cheque. The bank statement at 31 December 2002 is as follows. STANBIC BANK PLC South Kaneshi Branch Account 71239581-R Amevor Esq 2002 1 Dec 8 Dec 15 Dec 15 Dec 19 Dec 19 Dec 27 Dec 30 Dec 30 Dec 30 Dec 30 Dec 1 Dec 3 Dec 5 Dec 6 Dec Balance b/f Credits Credits 343842 Credits 343844 Credits 343846 10 Dec 17 Dec 24 Dec 30 Dec 31 Dec Charges Cheque returned Amount paid in by NLM Reggis' cash account for December 2002 is as follows. 2002 GH¢ 2002 50 140 Balance b/f P T Ltd M & Co. KD Ltd J Ltd S Ltd MN Ltd TNT & Co 178 695 479 Payments GH¢ 86 623 768 85 3.104 5 Dec 19 Dec 28 Dec 28 Dec 28 Dec 684 31 Dec 925 762 69 623 GP Ltd TP Ltd SR Ltd. Q AB Receipts GH¢ 318 1.174 Balance b/f 86 623 84 Balance GH¢ 734 Cr 1,052 Cr 1,542 Cr 703 Cr 1.326 Cr 44 Dr GHe 905 762 187 43 236 971 3,104 The cheque issued to GP Ltd on 5 December 2002 for GHe925 was entered into the cash book as GH¢905 in error. Requirement Make any necessary adjustment to the cash account and prepare a bank reconciliation statement at 31 December 2002.

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Bank Reconciliation Statement Reggis Amevor 31 December 2002 Ban... View the full answer