11.7 Bank reconciliation LO3 Sandy Poglase, owner of Sandy\'s Sandwiches, wants

Question

11.7 Bank reconciliation LO3 Sandy Poglase, owner of Sandy's Sandwiches, wants a bank reconciliation statement to be prepared for the month ended 31 March 2019 using the following information 1. Final balance in the Cash at Bank account in the ledger of Sandy's Sandwiches (after all entries arising from the bank statement had been entered) was $13 204.26 Dr. 2. Balance shown by the bank statement at 31 March was $13 155.10 Cr. 3. Cheques recorded in the cash payments journal but not presented to the bank for payment were as follows. Cheque no. 41 43 46 51 $339.50 262.64 423.90 195.10 4. A deposit of $1270.30 appears as a deposit in the cash receipts journal but had not been recorded by the bank at the date of the statement. Required a. Prepare the bank reconciliation statement at 31 March 2019.

Explanation / Answer

Balance as per bank statement Cr 13155.1 Add: Deposit not credited 1270.3 14425.4 Less: Cheques not presented Cheque No. 41 339.5 Cheque No. 43 262.64 Cheque No. 46 423.9 Cheque No. 51 195.1 1221.14 Cash at Bank balance Dr 13204.26

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