Answered: The following extract from the cash…

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

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Question

The following extract from the cash book of John for the month of January shows the
company’s bank transactions:
RM RM
01 Jan Balance b/f 600 18 Jan Ali 145
13 Jan Uno 224 28 Jan PBA 72
31 Jan Latif 186 30 Jan TNB 109
31 Jan Balance c/f 684
1,010 1,010
The company’s bank statement for the same period is as follows:

Debit (RM) Credit (RM) Balance (RM)
01 Jan Balance 635
03 Jan Halim 35 600
13 Jan Uno 224 824
23 Jan Ali 145 679
31 Jan Standing order 30 649

Required:
a. Prepare a corrected cash book using the information given above.
b. Draw up a bank reconciliation statement.

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