Farah operates service apartment. She just received the 31 May 2020 bank statement from National Bank and the statement shows an ending balance of RM1,000. Listed on the statement are and EFT rental collection of RM500, a service charge of RM20, NSF cheques totaling RM150 and a RM10 charged for printed cheques. In reviewing her cash records, Farah identifies RM420 cheques still outstanding and a deposit in transit of RM1,550. The company's Cash account shows balance of RM1,810 on 31 May 2020. Instructions (a) Prepare the bank reconciliation at 31 May 2020. (b) Journalize the entries required by the reconciliation.

Farah operates service apartment. She just received the 31 May 2020 bank statement from National Bank and the statement shows an ending balance of RM1,000. Listed on the statement are and EFT rental collection of RM500, a service charge of RM20, NSF cheques totaling RM150 and a RM10 charged for printed cheques. In reviewing her cash records, Farah identifies RM420 cheques still outstanding and a deposit in transit of RM1,550. The company's Cash account shows balance of RM1,810 on 31 May 2020. Instructions (a) Prepare the bank reconciliation at 31 May 2020. (b) Journalize the entries required by the reconciliation.

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)

6th Edition

ISBN:9781337117005

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter4: Managing Your Cash And Savings

Section: Chapter Questions

Problem 6FPE

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