On November 30, Brown Sugar Plc has the below information related to cheques and cash: The bank balance as per the accounting records of the company amounts to $42,500 and the bank balance as per the bank statement amounts to $37,758. Collected cash of $6,244 on November 30 will be transferred to the Bank on December 1. In the Bank Statement there is a credit of $167 showed as interest earned for November. There are two Outstanding Cheques N0 921 of amount $964 and N0 925 of amount $1,085. In the Bank Statement there is a debit of $14 shown as Bank Service Charges, Non-Sufficient-Funds Cheque of Mr. Sweet with $700. Required: Prepare a Bank reconciliation statement on November 30. Prepare the necessary journal entries after the preparation of the Bank
On November 30, Brown Sugar Plc has the below information related to cheques and cash: The bank balance as per the accounting records of the company amounts to $42,500 and the bank balance as per the bank statement amounts to $37,758. Collected cash of $6,244 on November 30 will be transferred to the Bank on December 1. In the Bank Statement there is a credit of $167 showed as interest earned for November. There are two Outstanding Cheques N0 921 of amount $964 and N0 925 of amount $1,085. In the Bank Statement there is a debit of $14 shown as Bank Service Charges, Non-Sufficient-Funds Cheque of Mr. Sweet with $700. Required: Prepare a Bank reconciliation statement on November 30. Prepare the necessary journal entries after the preparation of the Bank
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1PB
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Bank Reconciliation
On November 30, Brown Sugar Plc has the below information related to cheques and cash:
- The bank balance as per the accounting records of the company amounts to $42,500 and the bank balance as per the bank statement amounts to $37,758.
- Collected cash of $6,244 on November 30 will be transferred to the Bank on December 1.
- In the Bank Statement there is a credit of $167 showed as interest earned for
November.
- There are two Outstanding Cheques N0 921 of amount $964 and N0 925 of amount $1,085.
- In the Bank Statement there is a debit of $14 shown as Bank Service Charges, Non-Sufficient-Funds Cheque of Mr. Sweet with $700.
Required:
- Prepare a
Bank reconciliation statement on November 30. - Prepare the necessary
journal entries after the preparation of the Bank
reconciliation.
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