Amano had a bank balance on his bank statement for the month ofMay 2017 as GH¢43,730 and it did not agree with his cash bookbalance of GH¢18,080.He investigated and discovered the followinga) the opening balance in the cash book had been wronglybrought down as GH¢13,450 instead of GH¢14,350.b) cheque issued to creditors for GH¢18,500 and GH13,250 hadnot been presented for payment.c)a cheque for GH¢23,000 deposited into the bank is yet to becredited.d) dividend of GH412,500 from Addo Ltd has been paid directly to.the bank.e) the bank had paid GH¢3,600 on a standing order to aninsurance company.cash payment for rent GH41,200 had been entered in the bankcolumn of the cashbook9) bank charges totalling GHC2,700 had been omitted from thecash book.h) the bank has credited a cheque of GH48,600 belonging to Amoin error to Amano's accountsYou are required toi update the cash bookii prepare a Bank Reconciliation Statement for May 20176.

Cashbook is a special sort of book that's only concerned with the recording of monetary transactions…

Answered: Amano had a bank balance on his bank…

Amano had a bank balance on his bank statement for the month of 6. May 2017 as GH¢43,730 and it did not agree with his cash book balance of GH¢18,080. He investigated and discovered the following

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 16P

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