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Question On Bank Reconciliation

Priva Enterprise's bank reconciliation for December 2016 shows: 1) Their cash records had credits of RM11,453 and debits of RM8,441, leaving a balance of RM3,012 more than the bank statement. 2) After adjusting for outstanding deposits and returned cheques, the reconciled balance per the bank statement was RM2,551, which agreed to Priva Enterprise's general ledger balance. 3) Key adjustments included adding outstanding deposits of RM874 and RM4,180, and deducting a returned cheque of RM805.

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161 views2 pages

Question On Bank Reconciliation

Priva Enterprise's bank reconciliation for December 2016 shows: 1) Their cash records had credits of RM11,453 and debits of RM8,441, leaving a balance of RM3,012 more than the bank statement. 2) After adjusting for outstanding deposits and returned cheques, the reconciled balance per the bank statement was RM2,551, which agreed to Priva Enterprise's general ledger balance. 3) Key adjustments included adding outstanding deposits of RM874 and RM4,180, and deducting a returned cheque of RM805.

Uploaded by

Nor Amalina
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Bank reconciliation :

The cash records prepared by Priva Enterprise for December 2016 are as follows:

CASH RECEIPTS JOURNAL (Bank column only)


Date Particulars Cheque No. Amount (RM)
2 Sales 3,070
December
5 Ahmad 211502 174
7 Sales 704
11 Sales 905
15 Zarina 067502 4,180
20 Sharifah 190125 874
28 Sales 1,260
30 Sales 450

CASH PAYMENTS JOURNAL (Bank column only)


Date Particulars Cheque No. Amount (RM)
2 Purchases 211501 971
December
8 Purchases 211503 103
12 Ibrahim 211504 1,700
23 Ismail 211505 1,000
28 Purchases 211506 2,575
31 Telephone expense 211507 171
31 Salary expense 211508 2,500

The bank account of Priva Enterprise in the general ledger shows a credit balance of
RM3,012 as at 1 December 2016. Priva Enterprise has received the following bank
statement on 5 January 2016:

Bank Statement for the month of December 2016


December Particulars Debit Credit Balance
(RM) (RM) (RM)
1 Beginning balance (3,012)
1 Cheque returned - 017562 805 (3,817)
2 Electronic fund transfer (EFT) 426 (3,391)
2 Cash deposit 3,070 (321)
7 211501 971 (1,292)
7 Cash deposit 704 (588)
11 Cash deposit 905 317
13 211503 1,030 (713)
15 Cheque deposit - 211502 174 (887)
18 Cheque deposit – 067502 4,180 3,293
18 Electronic fund transfer (EFT) 391 2,902
21 Bank collections 1,502 4,404
23 Cheque deposit – 190125 874 5,278
23 211504 1,700 3,578
25 211505 1,000 2,578
31 Bank charges 27 2,551

Required:

Prepare the bank reconciliation at 31 December 2016.

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