Cash balance per book 5,000,000
Cash balance per bank 5,500,000
Proceeds of bank loan discounted
On nov. 1 for one year at 14% 516,000
Undeposited collections on dec 31 300,000

Check of omega company had been
Incorrectly deducted by bank from
Alpha company account 50,000

Check of alpha company in payment of an
Account payable had been recorded by
The depositor as 20,000. The correct
Amount is 200,000

The ledger account for cash was the
Only cash account kept by the entity.
It included a petty cash account 10,000

Deposit of omega company credited by
Bank to the account of alpha company 130,000
Deposit of dec 27 omitted from
Bank statement 150,000
Outstanding checks 544,000

What you need to do is arrange the adjustments in an orderly fashion and make the appropriate amendment to the ledger balance what you are then left with are outstanding deposits and outstanding cheques which when adjusted against the bank balance should reconcile it would be useful to know the name of the company you are reconciling

Quote:

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Originally Posted by paraclete

what you need to do is arrange the adjustments in an orderly fashion and make the appropriate amendment to the ledger balance what you are then left with are outstanding deposits and outstanding cheques which when adjusted against the bank balance should reconcile it would be usefull to know the name of the company you are reconciling

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Tnx