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TO WHOM:
* ND ACCOUNTANCY ( FULL TIME)
* ND BUSINESS ADMINISTRATION ( FULL TIME)
* ND OTM ( FULL TIME)
* ND COMPUTER SCIENCE ( FULL TIME)
ASSIGNMENT
1. Define Bank Reconciliation Statement and state
the causes of bank reconciliation statement?
2. On 31st
December 2019, Brits cash book showed a debit balance of N29,520.
His
bank statement showed a credit balance of N25,260.
The
reasons for the difference were follow:
i.
A
cheque of N1,960 was received and entered in the cash book but was not recorded
in the bank statement.
ii.
Unpresented
cheques totalled N3,740.
iii.
The
payment side of the cash book had been undercasted by N2,000.
iv.
Standing
order for N1,260 appearing in the bank statement was yet to be posted in the
cash book.
v.
A
bill of exchange of N1,340 had matured and the bank had paid on Brits` behalf
but it had not been recorded in the cash book.
vi.
A
withdrawal of N1,440 by Banuso, another customer of the bank had been charged
in error to Brits account.
You are required to prepare:
i.
Adjusted
cash book
ii.
Bank
Reconciliation Statement.
......................................................................................................................................
........................................................................................................................................
TO WHOM:
* ND ACCOUNTANCY ( PART TIME)
* ND BUSINESS ADMINISTRATION ( PART TIME)
* ND COMPUTER SCIENCE ( PART TIME)
ASSIGNMENT
1. Define Bank Reconciliation Statement. State causes
of differences between the cash book and bank statement.
2. Foyegbe Nigeria Limited has the following
transactions in its cashbook and bank statements for September 2017.
|
|
CASHBOOK
|
|
|
|
Lodgements:
|
N
|
Payments:
|
N
|
|
CHQ. 6789
|
28,000
|
CHQ. 123456
|
8,000
|
|
CHQ. 4591
|
24,000
|
CHQ.123457
|
12,000
|
|
CHQ. 4826
|
19,000
|
CHQ. 123458
|
15,000
|
|
CHQ. 4725
|
38,000
|
CHQ. 123459
|
25,000
|
|
CHQ.4228
|
18,000
|
CHQ. 123460
|
16,000
|
|
Cash
|
132,000
|
CHQ. 123461
|
3,000
|
|
Balance C/d
|
180,000
|
||
|
259,000
|
|
259,000
|
|
|
Balance B/d
|
180,000
|
|
|
|
BANK STATEMENT
|
|||
|
DR
N
|
CR
N
|
BALANCE
N
|
|
|
CHQ.123459
|
25,000
|
25,000
|
|
|
CHQ. 123458
|
15,000
|
40,000
|
|
|
CHQ. 4826
|
19,000
|
21,000
|
|
|
CHQ. 6789
|
28,000
|
7,000
|
|
|
CHQ. 123460
|
16,000
|
9,000
|
|
|
CHQ.4826 CONTRA
|
19,000
|
28,000
|
|
|
ICAN
|
500
|
28,500
|
|
|
COT
|
1,000
|
29,500
|
|
|
Commission
|
3,500
|
33,000
|
|
|
CHQ. 4228
|
18,000
|
15,000
|
|
|
CHQ. 123457
|
12,000
|
27,000
|
|
|
Cash
|
132,000
|
105,000
|
|
You are required to:
(a)
Prepare
an adjusted cash book
(b)
Reconcile
the adjusted cash book balance with the bank statement.
BEST OF LUCK!
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