Bank Reconciliation (Edexcel IGCSE Accounting: Introduction to Bookkeeping & Accounting): Exam Questions

State one benefit of preparing a bank reconciliation statement.

On 31 March 2023 Waan identified that the following transactions had not yet been entered in the cash book.

• Cash banked, $350

• Cheque to restore petty cash, $75

• Bank interest received, $8

• Standing order for rent, $300

Prepare the updated cash book on 31 March 2023 and bring the balance down on 1 April 2023.

Cash Book – Bank Column

On 31 March 2023 Waan’s bank statement showed a credit balance of $528

She identified that the following had not been processed by the bank.

• Unpresented cheques, $215

• Outstanding lodgements, $770

Prepare a bank reconciliation statement at 31 March 2023.

Waan
Bank Reconciliation Statement at 31 March 2023

On 30 September 2022 the bank column of Sam’s cash book showed a balance of $2 640 Dr which did not agree with his bank statement balance of $4 079 Cr on the same date.

He discovered the following differences.

• A direct debit, $148, had been entered in the cash book as $184 and bank charges, $182, had not been entered in the cash book.

• A cheque received, $260, and cheques issued totalling $1 845 had been entered in the cash book but had not yet been processed by the bank

Calculate the updated bank balance in Sam’s cash book at 30 September 2022.

Prepare the bank reconciliation statement at 30 September 2022.

Sam

Bank reconciliation statement at 30 September 2022

State two advantages of preparing a bank reconciliation statement.

On 28 February 2022 Nabil’s bank statement showed a credit balance of $135 On the same date the cash book showed a credit balance of $180

The following had not been entered in the cash book:

• a direct debit for telephone, $42

• a dishonoured cheque from Barjey Ltd, $668

• a credit transfer from BX Trading, $475

• cash sales banked, $295

• cheque drawn for cash, $120

Prepare the updated cash book to show the adjusted balance on 28 February 2022, bringing the balance down on 1 March 2022.

Cash Book - Bank Column

At 28 February 2022 the following had not yet been processed by the bank:

• unpresented cheques, $562

• outstanding lodgements, $187

On 28 February 2022 Nabil’s bank statement showed a credit balance of $135 On the same date the cash book showed a credit balance of $180

The following had not been entered in the cash book:

• a direct debit for telephone, $42

• a dishonoured cheque from Barjey Ltd, $668

• a credit transfer from BX Trading, $475

• cash sales banked, $295

• cheque drawn for cash, $120

At 28 February 2022 the following had not yet been processed by the bank:

• unpresented cheques, $562

• outstanding lodgements, $187

Prepare a bank reconciliation statement at 28 February 2022.

Bank reconciliation statement at 28 February 2022

State two benefits of preparing a bank reconciliation statement.

Define the following terms.

Daya provided the following information at 30 April 2021.

A standing order, $320, processed by the bank had not been entered in the cash book.

Prepare a bank reconciliation statement at 30 April 2021.

Daya

Bank Reconciliation Statement at 30 April 2021