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Bank Statement Supplies Case
Bank Statement Supplies Case
|
Order Number |
636738393092 |
|
Type of Project |
ESSAY |
|
Writer Level |
PHD VERIFIED |
|
Format |
APA |
|
Academic Sources |
10 |
|
Page Count |
3-12 PAGES |
Instructions/Descriptions
Question Description
Below is the Cash Receipts Journal, Cash Payments Journal, Cash at Bank Ledger account and Bank Statement of Parker’s Party Supplies for the month ending May 312021.
The bank reconciliation prepared in the previous month showed an outstanding deposit of $510 and the following outstanding cheques: no. 204 for $415 and no. 221 for $90. The balance as per the cash at bank ledger account was $4767 DR.
| Cash Receipts Journal | |||
| Date 2021 | Particulars | Cash at Bank | |
| May-02 | Martin | 215 | |
| 3 | Sales | 430 | |
| 6 | Sales | 320 | |
| 10 | Khalifa | 205 | |
| 13 | Sales | 632 | |
| 17 | Sales | 207 | |
| 22 | Michael | 86 | |
| 30 | Sales | 503 | |
| 2598 | |||
| Cash Payments Journal | ||||
| Date 2021 | Particulars | Cheque No | Cash at | |
| Bank | ||||
| May-03 | Electricity Expense | 222 | 86 | |
| 4 | Printing Expense | 223 | 134 | |
| 10 | Telephone Expense | 224 | 209 | |
| 14 | Wages Expense | 225 | 646 | |
| 17 | Advertising Expense | 226 | 652 | |
| 23 | Petrol Expense | 227 | 150 | |
| 28 | Insurance Expense | 228 | 309 | |
| 29 | Wages Expense | 229 | 200 | |
| 30 | Car Registration Expense | 230 | 346 | |
| 2732 | ||||
| Cash at Bank | ||||||
| Date | Account | $ | Date | Account | $ | |
| May-01 | Balance | 4767 | ||||
| EAST SIDE BANK | ||||
| NAME OF ACCOUNT: Parker’s Party Supplies | ACCOUNT NO. 801055 | |||
| DATE OF ISSUE: 31 May, 2021 | PAGE 30 | |||
| Date | Particulars | Debit | Credit | Balance |
| May-01 | Balance | 4762 CR | ||
| 1 | Direct Transfer – Hughes | 510 | 5272 CR | |
| 2 | Direct Transfer – Martin | 215 | 5487 CR | |
| 3 | Chq 222 | 86 | 5401 CR | |
| 3 | Direct Debit – Car Lease | 400 | 5001 CR | |
| 3 | Deposit | 430 | 5431 CR | |
| 6 | Chq 204 | 415 | 5016 CR | |
| 6 | Deposit | 320 | 5336 CR | |
| 10 | Direct Transfer – Khalifa | 205 | 5541 CR | |
| 10 | Chq 224 | 229 | 5312 CR | |
| 13 | Deposit | 632 | 5944 CR | |
| 17 | Deposit | 207 | 6151 CR | |
| 17 | Chq 226 | 652 | 5499 CR | |
| 20 | Chq 225 | 646 | 4843 CR | |
| 22 | Direct Transfer – Michael | 86 | 4939 CR | |
| 24 | Account Fees | 44 | 4895 CR | |
| 27 | Chq 227 | 150 | 4745 CR | |
| 29 | Chq 228 | 309 | 4436 CR | |
| Total debits | Total Credits | Balance | ||
| 2931 | 2606 | 4436 CR | ||
Required:
Complete the cash journals and the cash at bank ledger account at 31 May 2021. Use the Excel templates provided.
Prepare a bank reconciliation statement at 31 May 2021. Use the Excel template provided.
Identify the three (3) main reasons the bank statement and cash at bank ledger account may disagree over the same period. Provide an example of each.
Bank Statement of Parker’s Party Supplies Case Assignment
