question archive Bank statement received by IRIZ Enterprise showed differences in balance between the bank statement and the records of bank account
Bank statement received by IRIZ Enterprise showed differences in balance between the bank statement and the records of bank account
Subject:AccountingPrice: Bought3
Bank statement received by IRIZ Enterprise showed differences in balance between the bank statement and the records of bank account. The followings are bank account and bank statement from MMB Bank for the month of March 2019 for IRIZ Enterprise. Bank Account RM AM 2019 Mar 1 3 3 17 25 29 30 Balance b/a Sales - Tan Commission Store Lim Sales-Gill Sports Sales - Umbro Proshop AA 6,400 2,930 175 600 490 360 1,250 12,205 3,446 2019 Mar Furniture 7 Insurance 16 Purchases 20 Sundry expenses 27 Supplier Ali 29 Supplier - Bakar 31 Balance c/d Cheque No 72591 72592 72993 72394 72595 72995 900 2,160 474 1,700 1,030 3,446 12,203 Apr 1 Balance b/c MMB Bank Bank Statement as at 31 March 2019 Cheque Debit No RM Particulars Credit RM Balance RM Date 2018 Mar 1 3 Balance b/a 6,400 2,930 25646 72591 495 6 8 173 900 2,610 19 19 20 Local Cheque Cheque Deposit Cheque Cheque Local cheque Dividend - deposit Rent - Standing order Cheque Bank charges 72592 72593 13469 9,330 8,835 9.010 3,110 5,500 6,100 6,370 5,870 3,296 5,346 600 270 PARR 72594 30 31 500 474 50 Additional information 1. Cheque no. 72593 was recorded wrongly in bank account (cash book) 2. Cheque from Umbro deposited on 29 March 2019 was returned by the bank due to an error Required: a) Prepare journal entries for adjustments. b) Adjust and update the bank account of IRIZ Enterprise. Prepare the Bank Reconciliation Statement 2 at 31 March 2019.
