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Prepare the bank reconciliation statement as October

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Reference no: EM132563868

Question - At the end of the second month of trading, the owner of Super Services Pty Ltd prepared the information for a bank reconciliation. The following has been provided:

1. The bank ledger account balance at 30 September 2020 was $54,960 Dr.

2. The bank statement on 31 October 2020 showed a credit balance of $48,230.

3. A comparison between the business records and the bank statement highlighted the following:

Entries in the bank statement, which are not in the company's records, follow:

(i) Interest received into the account $140

(ii) Bank fees and charges $39

Entries in the company's cash journals, which are not recorded in the bank statement, follow:

(i) Deposits not appearing in the bank statement $3,420

(ii) Unpresented cheques No. 31 for $989, No. 29 for $865

Other information

(i) Chq no. 96 to a creditor recorded as $160 in the CPJ should be $150 as in the bank statement.

Other information reveals the total in the Cash Receipts Journal at 31 October 2020 is $27,695, while the total in the Cash Payments Journal at 31 October 2020 is $32,970

Required - Prepare the bank reconciliation statement as 31 October 2020.

Reference no: EM132563868

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