Question

all 61% 12:43 + Prime Limited - Bank reconciliation Statement - Saved M N O P Q R FRETEL LLITERILL Assume that you are working as an Account Mange in Prime Limted a company carrying a business of Accounting Software Implementation. As the end of the month of June 20. you found that the bank hook reflected as favourable balance of t discoveries were made and aftware i Cheque of t.es issued te contractors were not yet presented to the bank i Bank made payment of t 2.90 in relation to payment charges on Prime Limited's account Prime Limited had instructed the bank to transfer interest of L earned on a deposit account to its current account. The henk did not transfer the amount tills duly are where the amount had already been recorded in the bank book. iv Cheque of t... and received from customers and deposited to the bank had not been credited by the bank The receipt side of the bank book was overled by t.com Transaction Page

Answer 1

Note:1. All the amounts are in £

2. The points shown in the table refer to the points given in the question and the numbering is also the same.

Bank reconciliation statement

A. Balance as per Bank Book = 34000

B.Items to be added:

1. Cheque of £32,500

9. Cheque of £6,500

C.Items to be subtracted:

2. Bank made payment of £3,500

3. Interest of £4,500

4. Cheques of £63,000 and 58,100

5. Overcast of £9,000

6. Under cast of £4,200

7. E.payments of £72,000

8. Cheque of £3,000 as £30,000 (Difference is to be subtracted)

10. Dividend of £5400 as £6300 ( Difference is to be subtracted)

11. Annual subscription paid £2,000

Total of B is £39,000

Total of C is £244,200

Now add B and subtract C to A, that is equal to £171200

Therefore £171200 is the Balance as bank statement and that is the correct balance to be reported in bank book.

​​​​​​