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24.4X On 31 October 2017 the cash boc showed a balance at bank of $570. An examination of his records located the following errors. (i) Orange paid to R. Jones $175 by cheque on 15 October. This cheque was entered in the cash book as $195. (ii) Bank charges not recorded in the cash book amounted to $25. liii) A cheque dated 19 October, value $150, payable to T. Jack was not paid by the bank until 5 November. (iv) Orange on 23 October received from W. Green a cheque, value $125. This cheque was dishonoured on 29 October. No entry for the dishonour has been made in the cash book. (v) On 31 October a cheque, value $200, received from F. Brown was banked; however, the bank statement was not credited until 1 November. c You are required to: la) make the necessary entries in the cash book in order to show the revised cash book balance at 31 October 2017; (b) prepare a statement reconciling the corrected cash book balance with the bank statement at 31 October 2017; (c) state the balance at bank at 31 October 2017 as shown by the bank statement.

24.4X On 31 October 2017 the cash boc showed a balance at bank of $570. An examination of his records located the following errors. (i) Orange paid to R. Jones $175 by cheque on 15 October. This cheque was entered in the cash book as $195. (ii) Bank charges not recorded in the cash book amounted to $25. liii) A cheque dated 19 October, value $150, payable to T. Jack was not paid by the bank until 5 November. (iv) Orange on 23 October received from W. Green a cheque, value $125. This cheque was dishonoured on 29 October. No entry for the dishonour has been made in the cash book. (v) On 31 October a cheque, value $200, received from F. Brown was banked; however, the bank statement was not credited until 1 November. c You are required to: la) make the necessary entries in the cash book in order to show the revised cash book balance at 31 October 2017; (b) prepare a statement reconciling the corrected cash book balance with the bank statement at 31 October 2017; (c) state the balance at bank at 31 October 2017 as shown by the bank statement.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.1AP
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24.4X On 31 October 2017 the cash book of N. Orange showed a balance at bank of $570. An examination of his records located the following errors. li) Orange paid to R. Jones $175 by cheque on 15 October. This cheque was entered in the cash book as $195. (ii) Bank charges not recorded in the cash book amounted to $25. (iii) A cheque dated 19 October, value $150, payable to T. Jack was not paid by the bank until 5 November. i not credit ire insura consider nce with the (iv) Orange on 23 October received from W. Green a cheque, value $125. This cheque was dishonoured on 29 October. No entry for the statementh dishonour has been made in the cash book. (v) On 31 October a cheque, value $200, received from F. Brown was banked; however, the bank statement was not credited until 1 November. nt s You are required to: (a) make the necessary entries in the cash book in order to show the revised cash book balance at 31 October 2017; (b) , reconciy nce. (b) prepare a statement reconciling the corrected cash book balance with the bank statement at 31 October 2017; lc) state the balance at bank at 31 October 2017 as shown by the bank statement.
Transcribed Image Text:24.4X On 31 October 2017 the cash book of N. Orange showed a balance at bank of $570. An examination of his records located the following errors. li) Orange paid to R. Jones $175 by cheque on 15 October. This cheque was entered in the cash book as $195. (ii) Bank charges not recorded in the cash book amounted to $25. (iii) A cheque dated 19 October, value $150, payable to T. Jack was not paid by the bank until 5 November. i not credit ire insura consider nce with the (iv) Orange on 23 October received from W. Green a cheque, value $125. This cheque was dishonoured on 29 October. No entry for the statementh dishonour has been made in the cash book. (v) On 31 October a cheque, value $200, received from F. Brown was banked; however, the bank statement was not credited until 1 November. nt s You are required to: (a) make the necessary entries in the cash book in order to show the revised cash book balance at 31 October 2017; (b) , reconciy nce. (b) prepare a statement reconciling the corrected cash book balance with the bank statement at 31 October 2017; lc) state the balance at bank at 31 October 2017 as shown by the bank statement.
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