can you answer the follow questions uploaded? 5 Q. Preston receives a bank statement every two weeks. The lateststatement received showed a bank overdraft of $4138. However, her CashBook showed a balance at bank of $8444 on 7 May although both sourcesBank StatementApr 24273030May 147Balance b/dCash and chequesSalariesBank feesDirect deposit: F. GarciaStanding orderEquipmentDebit$B 60080b340Credit$12 244176016340,Balance$721819 46210 86210 78212 54212 202(4 138)showed the same balance on 24 April. Below is an extract from her bankstatement as well as additional information.Additional information:A deposit of cash and cheques $14 122 made on 6 May had not beenrecorded.(ii) A cheque sent to Stored Right Store on 3 May for $2000 had notbeen presented to the bank.(ii) The salary cheques totalled $6800 and not $8600 as on the statement.RequiredäList the dates of the three items on the bank statement that wouldnot have been recorded in Preston's Cash Book.Adjust the Cash Book balance for the information in a.Correct the bank statement balance for the error.Reconcile the two balances in the form of a statement beginningwith the corrected bank statement balance and ending with theadjusted Cash Book balance.

Bank Reconcilation: An entity's bank account balance in its books of accounts is compared to the…

5 Q. Preston receives a bank statement every two weeks. The latest statement received showed a bank overdraft of $4138. However, her Cash Book showed a balance at bank of $8444 on 7 May although both sources Bank Statement Apr 24 27 30 30 May 1 4 7. Balance b/d Cash and cheques Salaries Required a Bank fees Direct deposit: F. Garcia Standing order Equipment b e Debit $ d B 600 80 340 Credit 12 244 1760 16340, showed the same balance on 24 April. Below is an extract from her bank statement as well as additional information. Balance $ Additional information: (1) A deposit of cash and cheques $14 122 made on 6 May had not been recorded. 7218 19 462 10 862 10 782 12 542 12 202 (4 138) (ii) A cheque sent to Stored Right Store on 3 May for $2000 had not been presented to the bank. (ii) The salary cheques totalled $6800 and not $8600 as on the statement. List the dates of the three items on the bank statement that would not have been recorded in Preston's Cash Book. Adjust the Cash Book balance for the information in a. Correct the bank statement balance for the error. Reconcile the two balances in the form of a statement beginning with the corrected bank statement balance and ending with the adjusted Cash Book balance.

5 Q. Preston receives a bank statement every two weeks. The latest statement received showed a bank overdraft of $4138. However, her Cash Book showed a balance at bank of $8444 on 7 May although both sources Bank Statement Apr 24 27 30 30 May 1 4 7. Balance b/d Cash and cheques Salaries Required a Bank fees Direct deposit: F. Garcia Standing order Equipment b e Debit $ d B 600 80 340 Credit 12 244 1760 16340, showed the same balance on 24 April. Below is an extract from her bank statement as well as additional information. Balance $ Additional information: (1) A deposit of cash and cheques $14 122 made on 6 May had not been recorded. 7218 19 462 10 862 10 782 12 542 12 202 (4 138) (ii) A cheque sent to Stored Right Store on 3 May for $2000 had not been presented to the bank. (ii) The salary cheques totalled $6800 and not $8600 as on the statement. List the dates of the three items on the bank statement that would not have been recorded in Preston's Cash Book. Adjust the Cash Book balance for the information in a. Correct the bank statement balance for the error. Reconcile the two balances in the form of a statement beginning with the corrected bank statement balance and ending with the adjusted Cash Book balance.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 2AP

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