Acc Unit-23-Answers
Acc Unit-23-Answers
Acc Unit-23-Answers
ANYBANK plc
Bank Statement for Natalie’s Jewellery Store
Date Details Dr Cr Balance
$ $ $
May 1 Balance 1 400 Cr
4 27204 320 1 080 Cr
8 DD Interstate Power plc 670 410 Cr
12 27205 820 410 Dr
15 Sundries 1780 1 370 Cr
20 SO Ford Holdings plc 480 890 Cr
24 Credit transfer – Smartjewels Ltd 950 1 840 Cr
29 CHR 110 1 730 Cr
Question 2
Question 3
ANYBANK plc
Bank Statement for Natalie’s Jewellery Store
Date Details Dr Cr Balance
$ $ $
May 1 Balance 1 400 Cr
4 27204 320 1 080 Cr
8 DD Interstate Power plc 670 410 Cr
12 27205 820 410 Dr
15 Sundries 1 780 1 370 Cr
20 SO Ford Holdings plc 480 890 Cr
24 Credit transfer – Smartjewels Ltd 950 1 840 Cr
29 CHR 110 1 730 Cr
BOOKS OF NATALIE’S JEWELLERY STORE
CASH BOOK (Bank columns only)
Dr Cr
May 1 Balance 1 400 May 2 General expenses (chq 27204) 320
13 Sales 1 780 9 Latoya Fray (chq 27205) 820
28 Sales 1 240 23 Supagems (chq 27206) 740
28 Drawings (chq 27207) 480
31 Balance c/d 2 060
4 420 4 420
June 1 Balance b/d 2 060
Question 4
Question 6
Question 7
Either:
NATALIE’S JEWELLERY STORE
Bank Reconciliation Statement at 1 June 2012
$ $
Balance as per bank statement 1 730
Less: unpresented cheque
27206 Supagems 740
990
Add: amount not yet credited 1 240
Balance as per cash book 2 230
Or:
NATALIE’S JEWELLERY STORE
Bank Reconciliation Statement at 1 June 2012
$ $
Balance as per cash book 2 230
Add: unpresented cheque
27206 Supagems 740
2 970
Less: amount not yet credited 1 240
Balance as per bank statement 1 730
Question 8
Either
TAHIR’S SPORTS SUPPLIES
Bank Reconciliation Statement at 1 August 2012
$ $
Balance as per bank statement 1 130
Less: unpresented cheque
787893 Stationery 100
787894 Salary 1 700
1 800
(670)
Add: amount not yet credited 990
Balance as per cash book 320
Or
TAHIR’S SPORTS SUPPLIES
Bank Reconciliation Statement at 1 August 2012
$ $
Balance as per cash book 320
Add: unpresented cheque
787893 Stationery 100
787894 Salary 1 700
1 800
2 120
Less: amount not yet credited 990
Balance as per bank statement 1 130
Question 9
Either
VECKI WHOLESALE FLOWERS
Bank Reconciliation Statement at 1 November 2012
$ $
Balance as per bank statement 1 430
Less: unpresented cheque
447803 Electricity 490
447806 L Thomas 810
1 300
130
Add: amount not yet credited 1 370
Balance as per cash book 1 500
Or
VECKI WHOLESALE FLOWERS
Bank Reconciliation Statement at 1 November 2012
$ $
Balance as per cash book 1 500
Add: unpresented cheque
447803 Electricity 490
447806 L Thomas 810
1 300
2 800
Less: amount not yet credited 1 370
Balance as per bank statement 1 430
Question 10
Either
ELITE PUBLISHING
Bank Reconciliation Statement at 1 June 2012
$ $
Balance as per bank statement 8 466
Less: unpresented cheque
110745 Palmleaf Stores 1 833
110748 General expenses 538
2 371
6 095
Add: amount not yet credited 3 375
Balance as per cash book 9 470
Or
ELITE PUBLISHING
Bank Reconciliation Statement at 1 June 2012
$ $
Balance as per cash book 9 470
Add: unpresented cheque
110745 Palmleaf Stores 1 833
110748 General expenses 538
2 371
11 841
Less: amount not yet credited 3 375
Balance as per bank statement 8 466
Question 11
Either
Question 12
CYCLE STORES
Bank Reconciliation Statement at 1 July 2012
$ $
Balance as per bank statement (5 837)
Less: unpresented cheque
37414 Water charges 630
37415 Castle Furnishings Ltd 592
37417 Lakeford ltd 948
2170
(8 007)
Add: amount not yet credited 4114
Balance as per cash book (3 893)
Or
CYCLE STORES
Bank Reconciliation Statement at 1 July 2012
$ $
Balance as per cash book (3 893)
Add: unpresented cheque
37414 Water charges 630
37415 Castle Furnishings Ltd 592
37417 Lakeford ltd 948
2 170
(1 723)
Less: amount not yet credited 4114
Balance as per bank statement (5 837)
Question 13
Either
ETON LTD
Bank Reconciliation Statement at 30 November 2012
$ $
Balance as per bank statement 6 195
Less: unpresented cheque
T Pulchan 775
KT Singh 903
1 678
4 517
Add: amount not yet credited 1 733
Balance as per cash book 6 250
Or
ETON LTD
Bank Reconciliation Statement at 30 November 2012
$ $
Balance as per cash book 6 250
Add: unpresented cheque
T Pulchan 775
KT Singh 903
1 678
7 928
Less: amount not yet credited 1 733
Balance as per bank statement 6 195
Question 14
1 462 1 462
Aug 1 Balance b/d 422
Either
SOPHIA THOMAS
Bank Reconciliation Statement at 31 July 2012
$ $
Balance as per bank statement (1 583)
Less: unpresented cheque
H Khan 947
2 530
Add: amount not yet credited 2 108
Balance as per cash book (422)
Or
SOPHIA THOMAS
Bank Reconciliation Statement at 31 July 2012
$ $
Balance as per cash book (422)
Add: unpresented cheque
H Khan 947
525
Less: amount not yet credited 2 108
Balance as per bank statement (1 583)
PREPARING FOR THE EXAMINATION
Question 20
(a) The bank columns of Samah’s cash book are the record of one of her assets, so any decrease in
the asset is recorded as a credit entry. The bank statement is, however, the record of a liability
from the bank’s point of view, so any decrease in the liability is recorded as a debit entry.
(b)
BOOKS OF SAMAH
CASH BOOK (Bank columns only) - UPDATED
Dr Cr
May 31 Balance 840 May 31 Bank charges 90
31 Interest received 50 31 Standing order 620
31 Trade receivable 880 31 Balance c/d 1 062
1 772 1 772
June 1 Balance b/d 1 062
(c)
$
Balance as per updated cash book at 31 May 2012 1 062
Unpresented cheque (550)
Amount not yet credited 640
Balance as per bank statement at 31 May 2012 1 152
checks that the bank columns of a cash book and the bank statement are in line with each other and
helps identify any discrepancies between the two records
enables the banks columns of a cash book to be brought up to date
because the cash book is regularly checked against an independent source (the bank statement) the
process helps reduce the chance of fraud.