(Question and Answer): The following information comes from the records of Anthea's Homewares. The NSF cheque was received from B

The following information comes from the records of Anthea’s Homewares. The NSF cheque was received from Bond Enterprises, a debtor. The direct credit represents a $650 bill collected by the bank, plus interest. Cheque no. 573 was prepared improperly and has been cancelled. Cheque no. 574 for a purchase of inventory was incorrectly recorded as a cash payment of $ 1315 instead of $ 151 3. On 31 March, the only reconciling items were a series of unpresented cheques: no. 552 at $435, no. 560 at $97, no. 562 at $159 and no. 568 at $372. Prepare a bank reconciliation statement for Anthea’s Homewares at 30 April, and any necessary adjusting journal entries.

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(Question and Answer): The following information comes from the records of Anthea's Homewares. The NSF cheque was received from B

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Anthea’s Homewares
Bank reconciliation statement as at 30 April, 2016
		$	$
Balance as per bank statement			1,831	CR
Add: Outstanding deposit			246
			2,077
Deduct: Unpresented cheques	562	159
	579	311
	580	293	763
Adjusted balance as per Cash at bank account			1,314	DR

Ending balance per business records
(2,594 + 3,053 + -4,444)			1,203	DR
Add: Bill receivable	650
Interest on bill	46	696
Interest revenue		58	754
			1,957
Deduct: Cheque dishonoured – Bond Enterprises		421
Correction -cheque no. 574 -Inventory		198
Govt Debits tax		24	643
Adjusted balance as per Cash at bank account			1,314

Journal
Cash at Bank		754
Bill receivable			650
Interest on bill			46
Interest revenue			58

Sundry debtors – Bond Enterprises		421
Inventory		198
Govt debits tax		24
Cash at Bank			643

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