a. The cash book of Dupe Enterprises showed an overdrawn balance of #216,126 and her bank statement also showed #905,625 overdrawn. On 31/12/2016, a detailed examination of the records showed the following differences:
(i) A cheque drawn for #697,550 had been entered in the cash book as #365,050.
(ii) A standing order of #420,000 and bank charges of #8,750 entered in the bank statement has not been recorded in the cash book.
(iii) Bank lodgment of #1,922,375 on 27th December 2016 has not been credited by the bank.
(iv) Dividend received of #315,000 had been recorded in the bank but not entered in the cash book.
(v) Cheques paid to suppliers totalling #1,165,500 has not been presented for payment.
(vi) A cheque for #700,000 received from Tunde was dishonoured by the banki but no entry had been made in the cash book.
(vii) A cheque of #256,813 received from a customer was entered as a payment in the cash book.
(viii) A cheque for #350,000 recorded in Dupe Enterprises cash book had been credited by the bank to Dudu Enterprises' account.
(ix) An amount of #1,050,000 received from customer was paid directly to Dupe Enterprises account but no entry was made in the cash book.
You are required to prepare:
Dupe Enterprises Adjusted Cash Book
b. The cash book of Dupe Enterprises showed an overdrawn balance of #216,126 and her bank statement also showed #905,625 overdrawn. On 31/12/2016, a detailed examination of the records showed the following differences:
(i) A cheque drawn for #697,550 had been entered in the cash book as #365,050.
(ii) A standing order of #420,000 and bank charges of #8,750 entered in the bank statement has not been recorded in the cash book.
(iii) Bank lodgment of #1,922,375 on 27th December 2016 has not been credited by the bank.
(iv) Dividend received of #315,000 had been recorded in the bank but not entered in the cash book.
(v) Cheques paid to suppliers totalling #1,165,500 has not been presented for payment.
(vi) A cheque for #700,000 received from Tunde was dishonoured by the banki but no entry had been made in the cash book.
(vii) A cheque of #256,813 received from a customer was entered as a payment in the cash book.
(viii) A cheque for #350,000 recorded in Dupe Enterprises cash book had been credited by the bank to Dudu Enterprises' account.
(ix) An amount of #1,050,000 received from customer was paid directly to Dupe Enterprises account but no entry was made in the cash book.
You are required to prepare:
Bank Reconciliation Statement as at 31st December 2016
DUPE ENTERPRISES
Dr Adjusted Cashbook Cr
# | # | ||
Dividend | 315000 | Balance c/d | 216126 |
Receipt | 513626 | Payment Undercast | 332500 |
Credit transfer | 1050000 | Standing order. | 420000 |
Bank charges | 8750 | ||
Dishonored cheque | 700000 | ||
Balance c/d | 201250 | ||
1878626 | 1878626 |
b.
BANK RECONCILIATION STATEMENT AS AT 31ST DECEMBER 2016
# | # | |
Balance as per adjusted cash book | 201250 | |
Add Unpresented cheque | 1165500 | |
1366750 | ||
Less: Uncredited cheque | 1922375 | |
Bank errors | 350000 | 2272375 |
Overdraft as per bank statement | 905625 |
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