Formative Assessment 9 US 11241

After the cash journals of Shape Shops were compared to the bank statement for August 200… the following differences were found.

Instructions:

• Take the differences into account and make the necessary entries in the cash journals
• Draw up the bank account in the general ledger
• Prepare the bank reconciliation statement on 31 August 200

Information:

1. On a August the bank account in the general ledger had a favourable balance of R1031
2. The total deposits for the month were R4108
3. The total payments for the month were R4705
4. The bank statement showed a favourable balance of R718 on 31 August
5. A deposit of R598 appears in the CRJ, but not on the bank statement
6. The following cheques appear in the CPJ but not on the bank statement:

• No 244 R90
• No 245 R236
• No 247 R188

7. The following debits appear on the bank statement but not in the cash journals:

• Ledger fees R28
• Cheque book R12
• Deposit fees R48
• Unpaid cheque R74 (received from B. Buddy)

8. The following credits appear on the bank statement but not in the cash journals:

• Interest on credit balances R  40 (Wen Bank)
• Deposit for rent R500 (received from Hire-It)