In: Accounting
QUESTION 3 (CLO 5 & 6)
The bank columns in the cash book for June 2019 and the bank
statement for that month for D. Hogan are as follows:
Dr Cash Book Cr
2019 $ 2019 $
1-Jun Balance b/d 1410 5-Jun L. Holmes 180
7-Jun J. May 62 12-Jun J. Rebus 519
16-Jun T. Wilson 75 16-Jun T. Silver 41
28-Jun F. Slack 224 29-Jun Blister Disco 22
30-Jun G. Baker 582 Jun-30 Balance c/d 1591
2353 2353
Bank Statement
Jun-19 Dr Cr Balance
$ $ $
1 Balance b/d 1410
7 Cheque 62 1472
8 F. Lane 180 1292
16 Cheque 75 1367
17 J. Rebus 519 848
18 T. Silver 41 807
28 Cheque 224 1031
29 SLM standing order 52 979
30 Flynn: trader's credit 64 1043
30 Bank charges 43 1000
As the accountant, you have been asked to do the following:
a. Prepare an updated cashbook for the
month.
(CLO 5)
b. Prepare a bank reconciliation statement for the
month.
(CLO 5)
c. Describe three (3) objectives of internal
control.
(CLO 6)
[Total 20 marks]