Accounting Test Question No 3 on Bank Reconciliation Statement

The following are the transactions from Jim’s Cash Book for January 2007:-

You found the following:(a) bank charges $45 shown on the Bank Statement have not been entered in the Cash Book(b) a cheque drawn for $59 has been entered in error in the Cash Book as a receipt(c) a cheque for $158 deposited has been dishonored by the bank but it has not been written back in the Cash Book(d) Two cheques issued to suppliers for $114 and $284 have not yet been presented to the bank.(e) a lodgement of $481 made on the last day of the month has not yet been credited to the account by the bankQuestion:You are required to:( i) show what adjustments you would made in the Cash Book(ii) prepare a Bank Reconciliation Statement as at 31 January 2007[Answer: Adjusted Cash Book-$337 & Balance as per Bank Statement$254]

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