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Waits opened a business bank account with 16,000 on 1t April 2019. During April he...

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Accounting

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Waits opened a business bank account with 16,000 on 1t April 2019. During April he issued cheques totaling E72,760 and banked cheques totaling 80,060. These transactions were entered into his cash book up to 30th April 2019. On receiving his bank statement for April he discovered the following: (1) A cheque for 4,800, which was banked (and included in the receipts above), had been returned by the bank marked "No funds available". No adjustment has been made in the cash book. (2) Bank charges debited on the bank statement for April amounted to E600. No entries for these have been made in the cash book. (3) Cheques totaling 16,860 recorded in the cash book and sent to suppliers were not presented to the bank until May 2019 4) Cheques totaling 12,100 had been entered into the cash book but not credited by the bank until May 2019. Required Calculate the corrected bank balance which should appear in the business cash book at 30 April 2019 and prepare a bank reconciliation statement at 30th April 2019

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