You are employed by Brooklyn Ltd as an outsource Accounts Executive. Your main responsibility 2) Cheques...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
You are employed by Brooklyn Ltd as an outsource Accounts Executive. Your main responsibility 2) Cheques drawn amounting to RM 267 had not been presented to the bank for payment. 3) Cheques received totalling RM 762 has been entered in the cash book and paid into the is to maintain the Company's cash book and prepare a bank reconciliation statement at the end of bank, but had not been credited by the bank until 3 November. each month. 4) A cheque for RM 22 for sundries had been entered in the cash book as a receipt instead of The following is a summary of a cash book for the month of October 2020: as a payment. RM RM Receipts 1,469 Balance b/d 761 5) A cheque received from Jones form RM 80 had been returned by the bank and marked Balance c/d 554 Payments 1,262 "No fund available'. No adjustment has been made in the cash book. 2,023 2,023 6) A standing order for a business rates instalment of RM 150 on 30 October had not been entered in the cash book. All receipts are banked and all payments are made by cheque. 7) All dividends received are credited directly to the bank account. During October amounts On investigation you discover: 8) A cheque drawn for RM 66 for stationery had been incorrectly entered in the cash book as RM 60. 1) Bank charges of RM 136 entered in the bank statement have not been entered in the cash book. 9) The balance brought forward in the cash book should have been RM 711 not RM 761. Başed on the information given, a) PREPARE the adjustments required in the cash book. b) PREPARE a bank reconciliation statement as at 31 October 2020. You are employed by Brooklyn Ltd as an outsource Accounts Executive. Your main responsibility 2) Cheques drawn amounting to RM 267 had not been presented to the bank for payment. 3) Cheques received totalling RM 762 has been entered in the cash book and paid into the is to maintain the Company's cash book and prepare a bank reconciliation statement at the end of bank, but had not been credited by the bank until 3 November. each month. 4) A cheque for RM 22 for sundries had been entered in the cash book as a receipt instead of The following is a summary of a cash book for the month of October 2020: as a payment. RM RM Receipts 1,469 Balance b/d 761 5) A cheque received from Jones form RM 80 had been returned by the bank and marked Balance c/d 554 Payments 1,262 "No fund available'. No adjustment has been made in the cash book. 2,023 2,023 6) A standing order for a business rates instalment of RM 150 on 30 October had not been entered in the cash book. All receipts are banked and all payments are made by cheque. 7) All dividends received are credited directly to the bank account. During October amounts On investigation you discover: 8) A cheque drawn for RM 66 for stationery had been incorrectly entered in the cash book as RM 60. 1) Bank charges of RM 136 entered in the bank statement have not been entered in the cash book. 9) The balance brought forward in the cash book should have been RM 711 not RM 761. Başed on the information given, a) PREPARE the adjustments required in the cash book. b) PREPARE a bank reconciliation statement as at 31 October 2020.
Expert Answer:
Answer rating: 100% (QA)
Bank Reconciliation Statement as on 31st October Balance a... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
You are employed by a firm that produces tangible products. These products are then sold to a consuming populace that is unaffected by place, income, sex, race, age, or any environmental concerns....
-
The Constitution in Your Community You are employed by a law firm that has been retained by Mae Shen, a prominent and wealthy business leader in your community. Dissatisfied with your citys support...
-
You are employed by a company that has asked you to take pictures at the company party. You are a photographer by trade; it is your second job when you are not at work. You agree to take the photos...
-
Consider a regulators objective formulized as: (a) Show that at most one of the four constraints (incentive compatibility and participation) can be binding in this case, that the high cost firms fee...
-
a. List the risks of error or fraud that are present at Kowal Manufacturing. For each risk, state the type of misstatement that could occur. b. State whether the fraud risk could lead to...
-
The Optima Mutual Fund has an expected return of 20%, and a volatility of 20%. Optima claims that no other portfolio offers a higher Sharpe ratio. Suppose this claim is true, and the risk-free...
-
Using the data in question 4, Department Xs contribution to overhead as a percentage of sales is a. 20%. c. 12%. e. 32%. b. 30%. d. 48%. Data From Question 4 A company operates three retail...
-
Professor Patricia (Patty) Pate is retired from the Palm Springs Culinary Arts Academy (PSCAA). She is a single taxpayer and is 68 years old. Patty lives at 98 Colander Street, Henderson, NV 89052....
-
6. [5] (A) Use integration to solve the "differential equation", dy dx 4 1+x' Note that the value of the solution at x=1 is . y(0) = 0 (B) Get a numerical approximation to 7 by using Euler's Method...
-
Belltown Athletic Supply (BAS) makes game jerseys for athletic teams. The F. C. Kitsap soccer club has offered to buy 100 jerseys for the teams in its league for $15 per jersey. The team price for...
-
A recent college graduate hopes to have $200,000 saved in their retirement account 25 years from now by contributing $150 per month in a 401(k) plan. The goal is to earn 10% annually on the monthly...
-
An asset was bought for OMR . 1 2 , 0 0 0 . Its accumulated depreciation is OMR . 7 , 7 0 0 and the rate of depreciation is 2 0 % . What is the amount of depreciation charge for the current...
-
4. Below are some accounts and their balances for a merchandising business. The ending inventory figure is $15,600. From this data, calculate the cost of goods sold figure.. Accounts Bank Accounts...
-
The assets most commonly used for security by asset-based lending companies are: accounts receivable and inventory inventory and equipment land and buildings equipment and buildings Tim Atte 15 F
-
Teresa drove a company car 1 5 , 0 0 0 personal kilometres in 2 0 2 0 . The total kilometres driven for the year were 2 5 , 0 0 0 kilometres. The actual operating costs for this automobile were $ 8 6...
-
D Question 16 (15 points) Sable systems believes that there is a strong relationship between its monthly factory maintenance costs and the number of hydrogen fuel cells produced in its manufacturing...
-
$1040 Filing Status Check only one box. Your first name and middle initial If joint return, spouse's first name and middle initial Home address (number and street). If you have a P.O. box, see...
-
The polar coordinates of a point are given. Find the rectangular coordinates of the point. (-1, - /3)
-
Give the major product expected when (a) Leucine is treated with p-toluenesulfonyl chloride (tosyl chloride). (b) Alanine is heated in methanol solvent with HCI catalyst.
-
ldentify the gas evolved in each of the following reactions. (a) Na + D2O (b) CH: CH2MgBr + H2O
-
Give the products expected (if any) when nitrobenzene reacts under the following conditions. (a) Cl2, FeCl3, heat (b) Fuming HNO3, H2SO4 (c) H3C-C-CI, AICI,( 1.1 equiv.), then H2O
-
Refer to the latest financial report of JB Hi-Fi Limited on its website, www.jbhifi.com.au, and answer the following questions. 1. Is it likely that JB Hi-Fi Limited would have to confront such...
-
Imelda Instruments Ltd manufactures two products: missile range instruments and space pressure gauges. During January, 53 range instruments and 360 pressure gauges were produced, and overhead costs...
-
Swiss Chocolates Ltd produces blocks of chocolate. Raw materials in the form of cocoa solids, milk and sugar are added at the beginning of the process, flavouring, fruit and nuts are added half-way...
Study smarter with the SolutionInn App