How do post entries recorded in the journals

Assignment Help Financial Accounting

Reference no: EM132693836

Instructions for bank reconciliation

Question 1: the previous month's bank reconciliation statement, and Identify any reconciling items and record the relevant reconciling items in the appropriate journals. To do this, you will need to use:

the current month's bank statement

Note that the general journal is not provided on this page of the practice set because you are required to use other journals to record those reconciling items.When you enter items into the journals, if a cheque number is not required, you need to fill the appropriate input box with an X.

Question 2: Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies and procedures.

Question 3: Total the Cash at Bank columns in the special journals. Record the amount in the Total row of each journal. On this web page, you are not required to total the rest of the columns in the special journals. You will total these columns and post them to the ledger in the next stage of the practice set.

Question 4: Post the total of the Cash at Bank columns in the special journals to their corresponding ledger account. To confirm that the posting has been performed, a posting reference is recorded in the last row of the special journals.

Question 5: Prepare the bank reconciliation statement as at 30 June 2020. The bank reconciliation statement provided below may contain more rows than required.

Reference no: EM132693836

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