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Make bank reconciliation statement for the month of may

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Reference no: EM132564102

A study of the cash book records and the bank statement of ZEE Ltd for the month of May 2018, revealed the following information.

a. Balance as per bank statement $ 11,020

b. Balance as per books $ 9,395

c. Deposit in transit amounting $ 1,800

d. Bank charges not recorded in cash book $ 560

e. Deposited cheques returned as dishonored by the bank amounting $ 1,600

f. Bill receivable collected by bank not recorded in cash book amounting $ 3,130

g. A cheque amounting $ 185 was issued in respect of Purchase of supplies but recorded as $158 in the books.

h. Cheque amounting $ 2,212 issued for payment but not yet presented in bank.

i. A Collection in respect of receivables amounting $ 4,410, recorded by company's accountant as $ 4,140.

Required:

Question 1: bank reconciliation statement for the month of May 2018.

Question 2: When it comes to errors, is the potential of errors is more in company's books or in bank? Justify in two lines.

Reference no: EM132564102

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