Calculate the balance in the bank statement

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Reference no: EM133611113

Case: The Cash Book and the Bank Statement of Ole Mpasha Co. Ltd. closed with the same balance of $ 100 on June 30, 20XX. The following data was extracted from the Bank Statement for the month of July, 20XX: $ Balance on 1 July, 20XX 100 Total receipts credited in the Bank Account of Ole Mpasha Ltd. 1,250 Total payments debited to the Bank Account of Ole Mpasha Ltd. 800 On comparing the Bank Statement and the Cash Book, the following entries which were included in the Bank Statement of July 20XX(i.e. into the total receipts of $ 1,250 and the total payments of $ 800) had been omitted from the Cash Book: $ Dividends received by the Bank on behalf of the company 40 Bank Charges 5 Entries already entered in the Cash Book but not yet entered in the Bank Statement: $ Outstanding Cheques 200 Deposits-in-Transit 410

REQUIRED:

Question (1) Calculate the balance in the Bank Statement and the Balance in the Cash Book at the close of the month of July 20XX, before a Bank Reconciliation Statement is prepared.

Question 2: (b) Prepare the Bank Reconciliation Statement at July 31st , 20XX. OLE MPASHA COMPANY LTD. BANK RECONCILIATION, JULY 31ST

Reference no: EM133611113

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