### Prepare bank reconciliation statement as at July

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##### Reference no: EM132608304

Question - At 31 July 2014 Chary Wen had a debit balance of \$8 000 in the bank column of his cash book. His bank statement showed a credit balance of \$5 600 at the same date. On comparing the cash book with the bank statement the following discrepancies were found:

(i) Bank charges of \$150 appeared in the bank statement but had not been entered in the cash book.

(ii) A credit of \$450 for dividends received had not been entered in the cash book.

(iii) Cheques received from customers amounting to \$3 500 had been entered in the cash book but had not yet been credited by the bank.

(iv) A cheque for \$1 200 received from a customer had been returned by the bank marked 'insufficient funds for payment'.

(v) Cheques issued by the business amounting to \$2 000 were recorded in the cash book but did not appear in the bank statement.

Required -

(a) Update the bank columns of Cha Ya Wen's cash book for the month of July 2014.

(b) Prepare bank reconciliation statement as at 31 July 2014.

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