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 6 Peypei 230 Dec 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 94 2,064 31 Rina : Trader’s Credit 102 1,962 31 Bank charges 72 2,304 Required: Prepare the updated cashbook Prepare the bank reconciliation statement as at 31 December 2020
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 6 Peypei 230 Dec 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 94 2,064 31 Rina : Trader’s Credit 102 1,962 31 Bank charges 72 2,304 Required: Prepare the updated cashbook 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
- 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 6 |
Peypei |
230 |
Dec 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 |
94 |
|
2,064 |
|
31 |
|
Rina : Trader’s Credit |
|
102 |
1,962 |
|
31 |
|
Bank charges |
72 |
|
2,304 |
Required:
- Prepare the updated cashbook
- 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 with 1 images
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
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning