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Table 1 presents the information extracted from the accounting records and bank statement of GHI...

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Accounting

Table 1 presents the information extracted from the accounting records and bank statement of GHI Limited (GHI) at 30 June 20X3.

Table 1.
The closing balance, as shown on the bank statement (Cr) 1 575
Cash receipts of 30 June which were deposited on 30th June did not appear on the bank statement. 792
Cheques recorded in the cash payments but not yet presented for payment to the bank. 589

Required:

  1. Prepare the bank reconciliation statement at 30 June, 2010 disclosing the closing balance of cash at the bank.

ANSWER a:

  1. Assume the same data as above, but assume further that the closing balance of the bank account shown on the bank statement is $1 575 Dr., i.e., the bank account is overdrawn). Prepare the bank reconciliation statement at 30 June, 20X3 disclosing the closing balance of cash at the bank.

ANSWER b:

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