Question 1139647: The following information was obtained from the accounting records of Kamuka Traders for the month ended 31 December 2018:
Bank reconciliation statement as at 30 November 2018
Debit
Credit
R
R
Debit balance as per bank statement ..........................................
8 000
Credit outstanding deposit ...........................................................
3 000
Debit outstanding cheques: 650 .................................................
500
652 .................................................
1 500
Credit balance as per bank account ............................................
7 000
10 000
10 000
The total for the cash payments journal was R11 600 and the total for the cash receipts journal was R19 400 on 31 December 2018, before the bank statement for December 2018 was received.
The bank statement had a favourable balance of R9 300 on 31 December 2018.
After a comparison of the bank statement for December 2018 with the bank reconciliation statement as at 30 November 2018 and the cash journals for December 2018, the following differences were identified:
Cheque no. 650 for R500 appeared in the bank statement.
A direct deposit for R3 000 rent received on 1 December 2018 appeared in the bank statement only.
Bank charges for December 2018 amounted to R600 in the bank statement.
A debtor, S Solly, deposited R5 300 directly into the entity’s bank account.
A cheque for R900 which was previously received from Mr L Dan was dishonoured due to insufficient funds in his bank account and therefore returned by the bank.
The following items appeared in the cash journals only:
A deposit on 31 December 2018 for R5 000; and
Cheque no. 730 (R700) and Cheque no. 736 (R6 000).
1.The total of the cash receipts journal of Kamuka Traders for December 2018 after the reconciliation process will be …
2.The total of the cash payments journal of Kamuka Traders for December 2018 after the reconciliation process will be …
3.The balance of the bank account as per the bank reconciliation statement of Kamuka Traders after the reconciliation process at 31 December 2018 will be …
Answer by ikleyn(52835)   (Show Source):
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