Answered: The following information relates to C…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...

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The following information relates to C at 30 June 20X3.

Balance per cash book – credit balance 4,300

Unpresented cheques 1,500

Bank charges not entered in the cash book 300

Receipts not yet credited by the bank 2,600

Dishonoured cheques not yet recorded in the cash book 500

What would be the balance shown on the bank statement at 30 June 20X3?

Definition Definition Financial journal in which only cash-related transactions are recorded. Cash transactions are posted chronologically in the cash book, which is also called a subsidiary book. All the cash receipts are recorded on the debit side and all the cash payments are recorded on the credit side. An important point to remember is that the cash book never shows a credit balance; only a debit balance is shown in the cash book.

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