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Interest of R480 received from the bank was not recorded in the cashbook. Question 1 You have been provided with the following information from the books of Zebra Traders: The following entries appeared in the cashbooks of Zebra Traders and not in the May Bank Information from the Bank Reconciliation Statements on the 30h April 2021 Statement: R Outstanding deposits: 17 200 Balance as per bank statement (Favourable) Add: Outstanding deposits: R17 300 on the 17th May 8 S00 10 April 2021 R18 400 on the 31" May 28 500 30 April 2021 Less: Outstanding cheques Cheques not yet presented for payment: (2 220) (4 150) 2001: Dated 10 October 2020 2651: Dated 27 April 2021 2785 for R6 500 dated 12th May 2021 2691: Dated 1O May 2021 (11 330) 2805 for R7 770 dated 25 June 2021 Balance as per bank account (Favourable) 36 500 The bank statement balance as at 31st May 2021 is R20 815 favourable. • Cheque 2651 appeared on the bank statement for May 2021. The totals of the cashbooks before any adjustments: Deposit on the 30 April appeared on the May 2021 bank statement. - Cheque 2001 has to be cancelled as the charity organisation that it was given to no longer Cashbook receipts R8 500 exists. Cashbook payments R4 500 The outstanding deposit of R8 500 was in respect of cash received from an outstanding debtor. This deposit has not appeared on the May 2021 bank statement and it has been discovered that this amount was recorded but it was never deposited. The owner has authorised that this amount be written off as a loss to the business. The owner has also undertaken to investigate who is responsible for this theft. A comparison of the May 2021 bank statement and the May 2021 cashbooks revealed the following: Bank charges of RS30 were not recorded in the cashbooks. Cheque number 2712 issued to creditor Mr. Llon, appeared correctly in the bank statement as RS 630 but was incorrectly recorded in the Cashbook Payments as R6 530. A monthly stop order of R1 800 for insurance needs to be recorded in the cashbook. A dishonoured cheque for R2 355 appeared on the bank statement. This cheque was received from Miss H Yena, a debtor in settlement of her account of R2 400.

Interest of R480 received from the bank was not recorded in the cashbook. Question 1 You have been provided with the following information from the books of Zebra Traders: The following entries appeared in the cashbooks of Zebra Traders and not in the May Bank Information from the Bank Reconciliation Statements on the 30h April 2021 Statement: R Outstanding deposits: 17 200 Balance as per bank statement (Favourable) Add: Outstanding deposits: R17 300 on the 17th May 8 S00 10 April 2021 R18 400 on the 31" May 28 500 30 April 2021 Less: Outstanding cheques Cheques not yet presented for payment: (2 220) (4 150) 2001: Dated 10 October 2020 2651: Dated 27 April 2021 2785 for R6 500 dated 12th May 2021 2691: Dated 1O May 2021 (11 330) 2805 for R7 770 dated 25 June 2021 Balance as per bank account (Favourable) 36 500 The bank statement balance as at 31st May 2021 is R20 815 favourable. • Cheque 2651 appeared on the bank statement for May 2021. The totals of the cashbooks before any adjustments: Deposit on the 30 April appeared on the May 2021 bank statement. - Cheque 2001 has to be cancelled as the charity organisation that it was given to no longer Cashbook receipts R8 500 exists. Cashbook payments R4 500 The outstanding deposit of R8 500 was in respect of cash received from an outstanding debtor. This deposit has not appeared on the May 2021 bank statement and it has been discovered that this amount was recorded but it was never deposited. The owner has authorised that this amount be written off as a loss to the business. The owner has also undertaken to investigate who is responsible for this theft. A comparison of the May 2021 bank statement and the May 2021 cashbooks revealed the following: Bank charges of RS30 were not recorded in the cashbooks. Cheque number 2712 issued to creditor Mr. Llon, appeared correctly in the bank statement as RS 630 but was incorrectly recorded in the Cashbook Payments as R6 530. A monthly stop order of R1 800 for insurance needs to be recorded in the cashbook. A dishonoured cheque for R2 355 appeared on the bank statement. This cheque was received from Miss H Yena, a debtor in settlement of her account of R2 400.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 5.4.3P
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Prepare the bank reconciliation statement on 31 May 2021.

Bank Reconciliation Statement of Zebra Traders for May 2021 DETAILS AMOUNT
Transcribed Image Text:Bank Reconciliation Statement of Zebra Traders for May 2021 DETAILS AMOUNT
21 Interest of R480 received from the bank was not recorded in the cashbook. Question 1 You have been provided with the following information from the books of Zebra Traders: The following entries appeared in the cashbooks of Zebra Traders and not in the May Bank Information from the Bank Reconciliation Statements on the 30th April 2021 Statement: R Outstanding deposits: 17 200 Balance as per bank statement (Favourable) Add: Outstanding deposits: 10 April 2021 R17 300 on the 17th May 8 500 R18 400 on the 31" May 28 500 30 April 2021 Less: Outstanding cheques Cheques not yet presented for payment: 2001: Dated 10 October 2020 (2 220) (4 150) (11 330) 2651: Dated 27 April 2021 2785 for R6 500 dated 12th May 2021 2691: Dated 10 May 2021 2805 for R7 770 dated 25 June 2021 Balance as per bank account (Favourable) 36 500 The bank statement balance as at 31st May 2021 is R20 815 favourable. Cheque 2651 appeared on the bank statement for May 2021. The totals of the cashbooks before any adjustments: Deposit on the 30 April appeared on the May 2021 bank statement. Cheque 2001 has to be cancelled as the charity organisation that it was given to no longer Cashbook receipts R8 500 exists. Cashbook payments R4 500 The outstanding deposit of R8 500 was in respect of cash received from an outstanding debtor. This deposit has not appeared on the May 2021 bank statement and it has been discovered that this amount was recorded but it was never deposited. The owner has authorised that this amount be written off as a loss to the business. The owner has also undertaken to investigate who is responsible for this theft. A comparison of the May 2021 bank statement and the May 2021 cashbooks revealed the following: Bank charges of RS30 were not recorded in the cashbooks. Cheque number 2712 issued to creditor Mr. L lon, appeared correctly in the bank statement as R5 630 but was incorrectly recorded in the Cashbook Payments as R6 530. A monthly stop order of R1 800 for insurance needs to be recorded in the cashbook. A dishonoured cheque for R2 355 appeared on the bank statement. This cheque was received from Miss H Yena, a debtor in settlement of her account of R2 400. CamScanner
Transcribed Image Text:21 Interest of R480 received from the bank was not recorded in the cashbook. Question 1 You have been provided with the following information from the books of Zebra Traders: The following entries appeared in the cashbooks of Zebra Traders and not in the May Bank Information from the Bank Reconciliation Statements on the 30th April 2021 Statement: R Outstanding deposits: 17 200 Balance as per bank statement (Favourable) Add: Outstanding deposits: 10 April 2021 R17 300 on the 17th May 8 500 R18 400 on the 31" May 28 500 30 April 2021 Less: Outstanding cheques Cheques not yet presented for payment: 2001: Dated 10 October 2020 (2 220) (4 150) (11 330) 2651: Dated 27 April 2021 2785 for R6 500 dated 12th May 2021 2691: Dated 10 May 2021 2805 for R7 770 dated 25 June 2021 Balance as per bank account (Favourable) 36 500 The bank statement balance as at 31st May 2021 is R20 815 favourable. Cheque 2651 appeared on the bank statement for May 2021. The totals of the cashbooks before any adjustments: Deposit on the 30 April appeared on the May 2021 bank statement. Cheque 2001 has to be cancelled as the charity organisation that it was given to no longer Cashbook receipts R8 500 exists. Cashbook payments R4 500 The outstanding deposit of R8 500 was in respect of cash received from an outstanding debtor. This deposit has not appeared on the May 2021 bank statement and it has been discovered that this amount was recorded but it was never deposited. The owner has authorised that this amount be written off as a loss to the business. The owner has also undertaken to investigate who is responsible for this theft. A comparison of the May 2021 bank statement and the May 2021 cashbooks revealed the following: Bank charges of RS30 were not recorded in the cashbooks. Cheque number 2712 issued to creditor Mr. L lon, appeared correctly in the bank statement as R5 630 but was incorrectly recorded in the Cashbook Payments as R6 530. A monthly stop order of R1 800 for insurance needs to be recorded in the cashbook. A dishonoured cheque for R2 355 appeared on the bank statement. This cheque was received from Miss H Yena, a debtor in settlement of her account of R2 400. CamScanner
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