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Please consider GST is 10%

Please consider GST is 10%

Please consider GST is 10%

Please consider GST is 10%

Background: You are working for Complete Business Services who provide accounting and bookkeeping services. Y handling one of the clients Jewels for Loved Ones and the following information relates to the banking of this business Table 1: Bank statement for November 2020 Table 2: Bank reconciliation statement for October 2020 Table 3: Cash receipts and cash payments books for November 2020 Table 1: Bank statement for November 2020 The CBK Bank Limited Statement of Jewels for Loved ones Month ending 30 November 2020 Date Details / cheque Debit Credit Balance Nov 1 633 CR Balance brought forward 3 Bank charges 12 621 CR 5 008 369 252 CR 6 009 675 423 Deposit 1782 1359 CR 8 010 645 714 CR 013 258 456 CR 9 011 141 315 CR 11 014 489 174 CR Deposit EFT#CF45 3276 3102 CR 12 015 474 2628 CR 14 017 147 2481 CR 15 020 1068 1413 CR 17 021 186 1227 CR 20 Deposit 2562 3789 CR 21 024 1188 2601 CR 22 028 885 1716 CR 24 029 1443 273 CR 027 234 39 CR 25 Cheque Book 24 15 CR Overdraft Interest 36 21 CR 29 Deposit EFT#CF32 2046 2025 CR 2025 CR Balance Carried Down Table 2: Bank reconciliation statement for October 2020 Jewels for Loved Ones Credit balance as per bank statement $633 Add: Outstanding deposits $ 0.00 Deduct: Unpresented cheques 008 $369 009 $ 675 006 $ 144 Credit balance as per Bank ledger account $ 1188 $ 555 Table 3: Cash receipts and cash payments books for November 2020 Cash Receipts Cash Payments Date Receipt $ Amount Date Cheque no. $ Amount Nov 06 Receipt 1782 Nov 03 010 645 10 Receipt 3276 011 141 15 Receipt 2562 05 012 216 17 Receipt 2046 013 258 014 489 015 447 07 016 474 017 147 11 018 114 019 141 020 1068 021 186 20 022 411 023 54 024 1188 025 192 23 026 78 027 234 028 885 029 1443 030 267 031 96 Complete the following: a) A bank ledger for the month of November 2020 b) A bank reconciliation as at 30 November 2020 c) Prepare an email to your manager (assessor) stating if you have found a discrepancy or if you have not found a discrepancy while preparing the bank reconciliation statement for the month. Note: where there is a discrepancy between the records, assume that the bank is correct. In case of a discrepancy is found, you are required to submit the copy of an email with the details of the discrepancy (whether it is receipts or payments with cheque # etc)

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