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On 30 June 2019 ABC Pty Ltd had a cash balance as per bank ledger (company records) of $55,000 debit. The bank statement from CBA Bank on that date showed a credit balance of $40,800.
A comparison of the statement with the cash account revealed the following facts:
Cash sales of $17,600 on 30 June were deposited in the bank but not yet recorded in the bank statement.
Unpresented cheques at 30 June
Cheque #111 $2,000
Cheque #165 $500
Included with the cheques paid was a cheque issued to John Smith (supplier) for $4,300 was incorrectly recorded in the bank statement as $3,400.
Question 1: Prepare the bank reconciliation statement as at 30 June 2019.
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