N4 Introductory Financial Accounting | Student Book Differences and/or errors between the books of the business and the bank statement
EXAMPLE 3: Refer to rules no. 1 – 6 The following information appeared in the books Gummy Bears.
You are required to do the following: 1. Compare the bank statement on 31 May 20.1 with the Bank Reconciliation Statement on 30 April 20.1.
2. Compare the Cash Journals with the Bank statement. 3. Make supplementary entries in the Cash Journals where necessary. 4. Close off the Cash Journals, then draw up and balance the Bank account. 5. Compile a Bank Reconciliation Statement on 31 May 20.1.
Information
Bank Reconciliation Statement on 30 April 20.1 Debit
Credit balance as per bank statement Credit deposit not credited by bank
Debit cheques not presented for payment: No. 004 No. 008 No. 009
Debit balance according to bank account
10 500 00 230 00
3 000 00
57 031 00 70 761 00
70 761 00 Credit
56 561 00 14 200 00
Doc. No. Day
Details Fol. Analysis of Receipts
CRR 1 Sales
115 13 V. Carelse 116 30 C. Bruyns CRR
Sales
Cash Receipts Journal of Gummy Bears – May 20.1 Trade
Bank Sales
3 200 00 3 200 00 3 200 00 3 810 00 3 810 00 4 300 00
Receivables Control
3 810 00 4 300 00
4 280 00 8 580 00 4 280 00 15 590 00 7 480 00 3 810 00 4 300 00
Rent income
CRJ5 Sundry Accounts Amount Fol. Details
Doc. No. Day Name of
Payee 310 2 Telkom
311 4 Baby & Co. 312 15 Toy Story 313 19 Far Away 314 31 Cash 315
Cash Payments Journal of Gummy Bears – May 20.1 Trade
Fol. Bank Purchases Wages 790 00
12 400 00 12 400 00 480 00 480 00 250 00
MSG Motors
3 000 00 61 111 00
3 000 00 78 031 00 12 880 00 3 000 00
61 111 00 Vehicles 61 361 00
Receivables Control
CPJ5 Trade
Payables Control
Sundry Accounts
Amount Fol. Details 790 00
Telephone
250 00
Advertising
146
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