Reference no: EM132557781
On 30th April 2016, Mary's bank statement reflected a balance of R922,260 while her cash book balance stood at R1,607,000. On comparing the cash book with the bank statement, the following discrepancies were identified:
1. A cheque paid to a creditor for R19,740 was entered as R17,940 in the cash book.
2. Dividends from investments received through the bank amounted to R15,300 but were not entered in the cash book
3. Cheques drawn by Mary totaling R14,500 had not been presented to the bank.
4. Bank charges for R1,600 were not yet entered in the cash book.
5. Standing order payments amounting to R112,400 had not been entered in the cash book.
6. A cheque for R13,000 received from a debtor had been returned by the bank marked "refer to drawer" but had not been written back in the cash book
7. The bank had not credited Mary's account with receipts R119,700 paid into the bank on 30th April 2006.
8. Mary had brought down her opening cash book balance of R165,850 as debit balance instead of a credit balance.
9. A cheque of R18,800 had been written back in the cash book but the bank had already honoured it.
10. Mary's customers had agreed to settle their debts by direct debit but the bank had credited some direct debits amounting to R115,540 to another customer's account.
Required:
Question i. A statement of Mary's adjusted cash book balance
Question ii. Bank reconciliation statement at 30th April 2016
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