Append below some questions to test the knowledge of those who have just studied topic on bank reconciliation statement:
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QUESTION NO.1: In early August 06, Company A received a bank statement which showed a balance of $55,262 as at 31 th July ’06. However, its own record showed a balance of $55,597 on the same date.
The following differences are identified:
(i) Deposits amounted to $1,300 was not in the bank statement;
(ii) Two checks were sent to suppliers, [...]
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The Cash Book Of Jim Co. showed a Bank Overdraft at 31 Jan 2007 of $1,800
When you checked the Bank Statement as at that date with the Cash Book , you discovered the following:
(a) the following items appearing in the Cash Book do not appear in the Bank Statement:-
Jan
16 Cheque No 123 John [...]
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On 30 April 2007, the Cash Book Of Jim showed a balance at bank amount to $812
You found that:
(a) a cheque for $360 received by Jim and entered in his Cash Book on 30 April 2007 was not credIted by the bank until 3 May 2007
(b) Cheques issued by Jim on 27 April amounting to [...]
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