Question

Bank Reconciliation
18. You have been supplied with the following information produced by comparing the records of Japan Ltd with its most recent bank statement:
a) Debit Balance as per cash at bank account in ledger as at 30 June 2019, $13,144
b) Credit balance as per bank statement as at 30 June 2019, $17,979
c) Deposits not reflected on bank statement, $2,200
d) Outstanding cheques at the end of June were: No.114, $1,650; No.192, $2,195; No.201, $2,800
e) Bank charge on bank statement not reflected in Japans Ltd’s general ledger, $30
f) Error by bank – a cheque payment from Samoa Ltd was incorrectly withdrawn from Japan Ltd’s bank account, $840.
g) Cheque for rent expense, $1,250, incorrectly recorded in general ledger as $2,510
Required:
Prepare a bank reconciliation statement for Japan Ltd as at 30 June 2019

Answer 1

JAPAN LTD
Bank Reconciliation
As at June 30 2019
Balance as per Bank Statement		17,979
Add :
Deposit in Transit	2,200
Bank Error	840	3,040
		21,019
Less :
Oustanding Checks : No 114	1,650
No 192	2,195
No 201	2,800	6,645
Adjusted Balance		14,374
Balance as per Bank Statement		13,144
Add :
Rent Check Error ( 2510 - 1250 )		1,260
		14,404
Less :
Bank Service Charges		30
Adjusted Balance		14,374
Thank You!
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