4. The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) RM 2020 2020 RM Dec Dec 6 Peypei 230 1 Balance b/d 1,900 304 20 Ceria 265 10 Luna 31 Baiti 325 19 Wilson 261 31 Balance c/d 29 Cikmah 1,682 2,502 37 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 1,974 1,709 13 Luna 304 20 Cheque 265 22 Wilson 261 1,970 30 Tox : Standing Order 31 Rina : Trader's Credit 94 2,064 1,962 2,034 102 31 Bank charges 72 Required: a) Prepare the updated cashbook. b) Prepare the bank reconciliation statement as at 31 December 2020.
4. The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) RM 2020 2020 RM Dec Dec 6 Peypei 230 1 Balance b/d 1,900 304 20 Ceria 265 10 Luna 31 Baiti 325 19 Wilson 261 31 Balance c/d 29 Cikmah 1,682 2,502 37 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 1,974 1,709 13 Luna 304 20 Cheque 265 22 Wilson 261 1,970 30 Tox : Standing Order 31 Rina : Trader's Credit 94 2,064 1,962 2,034 102 31 Bank charges 72 Required: a) Prepare the updated cashbook. b) Prepare the bank reconciliation statement as at 31 December 2020.
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
Related questions
Question
Transcribed Image Text:4. The bank column in the cash book for December 2020 and the bank statement for that
month for King Trading are as follows:
Cash Book (Bank Account only)
2020
RM
2020
RM
Dec
Dec 6 Peypei
230
1
Balance b/d
1,900
20 Ceria
265
10 Luna
304
31 Baiti
325
19 Wilson
261
31 Balance c/d
1,682
29 Cikmah
37
2,502
2,502
Bank Statement
Date
Items
Debit
Credit
Balance
Dec 1 Balance
1,900
6 Cheque
230
1,670
13 Luna
304
1,974
20 Cheque
265
1,709
22 Wilson
261
1,970
30 Tox : Standing Order
31 Rina : Trader's Credit
31 Bank charges
94
2,064
102
1,962
72
2,034
Required:
a) Prepare the updated cashbook.
b) Prepare the bank reconciliation statement as at 31 December 2020.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub