Prepare the bank reconciliation statement, Cost Accounting

Assignment Help:

As the Junior Bank Clerk of a business, one of your monthly tasks is to prepare the bank reconciliation statement.

At the month ending 31 January 2012, the bank statement has been compared with the cash book and the following differences identified:

1.  A BACS receipt of £1,600 from a customer has not been entered in the cash book.

2.  A cheque for £458 has been incorrectly entered in the cash book as £485.

3.  Cheques totalling £900 paid into the bank at the end of the month are not showing on the bank statement.

4.  Bank interest received of £25 was not entered in the cash book.

The balance showing on the bank statement is a credit of £2,600 and the balance in the cash book is a debit of £1,848.


Related Discussions:- Prepare the bank reconciliation statement

Advantage and disadvantages of zero based budgeting, Advantage and Disadvan...

Advantage and Disadvantages of Zero Based Budgeting Advantages 1. Resources allocation is more efficient. 2. Focus attention on values for money and makes clear relat

Finance and logistics, responsibility of director of finance and logistics

responsibility of director of finance and logistics

Find the amount capitalized for the patent account, Gomez incurred $350,000...

Gomez incurred $350,000 of research and development costs to develop a product for which a patent was granted on January 2, 2008. Legal fees and other costs associated with the re

How much are your fixed costs, 1.    The following table summarizes the sho...

1.    The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital i

Features of effective cost center framework, Features of Effective Cost Cen...

Features of Effective Cost Center Framework During the establishing cost centers, an organization must consider the given points as: a) Clear definition about the cost cent

Approach in cost accounting, Approach in Cost Accounting Cost accounti...

Approach in Cost Accounting Cost accounting is based on the framework or concept of cost centers that is all the costs incurred throughout the production process contain to be

What does the cost principle, What does the cost principle mean for a compa...

What does the cost principle mean for a company's income statement?

Costing term, The San Carlos Company is an electronics business with eight ...

The San Carlos Company is an electronics business with eight product lines. Income data for one of the products (XT-107) for June 2011 are as follows: Revenues, 200,000 units at av

Calculate the atm fee should the bank charge - marginal cost, A bank in a m...

A bank in a medium-sized midwestern city, Firm X, currently charges $1 per transaction at its ATMs.  To determine whether to raise price, the bank managers experimented with a n

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd