Bank Reconciliation Statement Exercises - Satellite 360 · ess biztools pty ltd - acn: 078 451 439...

- ESS BIZTOOLS Pty Ltd - ACN: 078 451 439 Paper 002-061

220213 Page 1

BOOKKEEPING SYSTEMS

BANK RECONCILIATION STATEMENT EXERCISES

Paper 002-061

CONTENTS

Page

EXERCISE NO. 1 - JOHN BROWN RETAIL CLOTHING COMPANY ........................................................ 3

.1 Previous Accounting Period Bank Reconciliation Statement ................................................. 3

.2 Cash Receipts Book - Prior To Reconciliation .......................................................................... 3

.3 Cash Payments Book - Prior To Reconciliation ........................................................................ 5

.4 Bank Statement ............................................................................................................................ 6

.5 Exercise No 1 - Question ............................................................................................................. 7

EXERCISE NO. 2 - SMITH’S MOTEL........................................................................................................... 8

.1 Cash Receipts Book Prior To Reconciliation ............................................................................ 8

.2 Cash Payments Book - Prior To Reconciliation ........................................................................ 8

.3 Previous Accounting Period Bank Reconciliation Statement ................................................. 8

.4 Bank Statement ............................................................................................................................ 9

.5 Exercise No. 2 Question .............................................................................................................. 9

ADDENDUMS

002-061A Cash Receipts Book ............................................................................................................ 11

002-061B Cash Payments Book .......................................................................................................... 12

002-061C Bank Reconciliation Statement .......................................................................................... 14

002-061D Completed Cash Receipts Book ........................................................................................ 15

002-061E Completed Cash Payments Book ...................................................................................... 16

002-061F Bank Reconciliation Statement .......................................................................................... 18

002-061G Cash Receipts Book ............................................................................................................ 19

002-061H Cash Payment Book ............................................................................................................ 20

002-061I Bank Reconciliation Statement ................................................................................................ 21

002-061J Completed Cash Receipts Book ............................................................................................... 22

002-061K Completed Cash Payments Book ...................................................................................... 23


220213 Page 2

002-061L Bank Reconciliation Exercise ............................................................................................. 24


220213 Page 3

BOOKKEEPING SYSTEMS

BANK RECONCILIATION STATEMENT EXERCISES

Paper 002-061

EXERCISE NO. 1 - JOHN BROWN RETAIL CLOTHING COMPANY

.1 Previous Accounting Period Bank Reconciliation Statement

BANK RECONCILIATION STATEMENT AS AT 31 MAY 20XX

Cash Book Balance 30.4.XX $47,620.00 Cr. Add Receipts $ 3,100.00 $50,720.00 Less Payments $10,970.00 Cash Book Balance as at 31.5.XX $39,750.00 Cr Bank Statement Balance 31.5.XX $40,000.00 Cr Less Unpresented Cheques: 185 $200.00 186 $ 50.00 $ 250.00 Reconciled Balance as at 31.5.XX $39,750.00 Cr

.2 Cash Receipts Book - Prior To Reconciliation

CASH RECEIPTS BOOK

Date

Receiv

ed

Fro

m

Receip

t N

o

Am

ou

nt

$

Sale

s

$

Cap

ital

Co

ntr

ibu

ted

$

Su

nd

ry

$

GS

T

Pay

ab

le

02.06.XX John Brown 1525 1,000.0

0 1,000.00

04.06.XX Cash 1526 500.00 454.55 45.45 16.06.XX SGIO 1527 50.00 45.45

(Refund overpaid shop

4.55


220213 Page 4

insurance) 24.06.XX Cash 1528 70.00 63.63 6.37 25.06.XX Cash 1529 200.00 181.81 18.19 29.06.XX Winter

Festival 1530 450.00 450.00

(Window display prize)

30.06.XX John Brown 1531 20.00 20.00


220213 Page 5

.3 Cash Payments Book - Prior To Reconciliation

JOHN BROWN RETAIL CLOTHING COMPANY - CASH PAYMENTS BOOK

Date

Payee

Chq.N

o.

Am

ount

Purc

hase

s

Rent

Repa

irs &

Main

t

Insura

nce

M.V

.

Expenses

Ele

ctr

icity

Fuel &

Oil

Posta

ge

&

Sta

tion

ery

Capital

Sun

dry

Input

Tax

Cre

dit

Yr XX 01.06 A8 Clothing Co 187 100.00 90.91 9.09 02.06 XY Real Estate 188 50.00 45.46 4.54 04.06 A Electrician

(Rep. neon sign) 189 200.00 181.82 18.18

07.06 Rubber Tyre Co (Tyres Del. Van)

190 205.00 186.36

18.64

08.06 Ergon Energy 191 35.00 31.82 3.18 10.06 SGIO (Shop) 192 600.00 545.45 54.55 11.06 Smith’s

Newsagency 192 20.00 18.18 1.82

11.06 Green’s Motors (New del. van)

194 10,000.00 10,000.00

15.06 John Jones (Casual Wages)

195 150.00 150.00

19.06 BP Garage 196 90.00 81.82 8.18 22.06 XY Real Estate 197 50.00 45.46 4.54 25.06 SGIO

(Insur. del. van) 198 250.00 227.27 22.73

28.06 JB Fashion Ltd 199 400.00 363.64 36.36 29.06 BC Furniture Co

(Storage shelves) 200 600.00 545.45

54.55

30.06 Cash (Drawings MBF)

201 150.00 150.00


230903 Page 6

.4 Bank Statement

ACCOUNT NO

Mr J Brown 17 Hugh Street 98738 - 7823 PACIFIC CITY QLD 4912

NAME OF ACCOUNT: JOHN BROWN RETAIL CLOTHING COMPANY

Date Particulars Dr Cr Balance

20XX Brought Forward 40,000.00 Cr

June 1 000189 200.00 39,800.00 Cr 2 000186 50.00 39,750.00 Cr 2 F.T.D. 10.00 39,740.00 Cr 2 000187 100.00 39,640.00 Cr 2 Deposit 1,000.00 40,640.00 Cr 2 000188 50.00 40,590.00 Cr 4 000185 200.00 40,390.00 Cr 4 Deposit 500.00 40,890.00 Cr 5 Cheque Book 10.00 40,880.00 Cr 8 000190 205.00 40,675.00 Cr 8 000194 10,000.00 30,675.00 Cr

15 000192 600.00 30,075.00 Cr 15 000193 20.00 30,055.00 Cr 15 000191 35.00 30,020.00 Cr 15 000199 400.00 29,620.00 Cr 17 Deposit 50.00 29,670.00 Cr 25 000198 250.00 29,420.00 Cr 25 000197 50.00 29,370.00 Cr 26 000196 90.00 29,280.00 Cr 26 Deposit 270.00 29,550.00 Cr 29 000195 150.00 29,400.00 Cr 29 Deposit 450.00 29,850.00 Cr 30 Deposit 20.00 29,870.00 Cr

July 1 Deposit 55.00 29,925.00 Cr 2 000201 150.00 29,775.00 Cr


230903 Page 7

.5 Exercise No 1 - Question

PREPARATION OF BANK RECONCILIATION STATEMENT

JOHN BROWN RETAIL CLOTHING COMPANY Can you please prepare the following:- 1. Cash Receipts Book - Addendum 002-061A Answer - Addendum 002-061D 2. Cash Payment Book - Addendum 002-061B Answer - Addendum 002-061E 3. Prepare Bank Reconciliation Statement - Addendum 002-061C Answer - Addendum 002-061F


230903 Page 8

EXERCISE NO. 2 - SMITH’S MOTEL

.1 Cash Receipts Book Prior To Reconciliation

Cash Receipts (Bank Column Only) of Smiths’ Motel for March 20XX

Date Receipt No.

Particulars Bank

02.03.XX 19 Cash Sales 400.00 03.03.XX 20 Debtor - J. Jones 440.00 05.03.XX 21 Cash Sales 690.00 07.03.XX 22 Cash Sales 615.00 10.03.XX 23 Debtor - Jetset Travel 1,425.00 12.03.XX 24 Cash Sales 426.00 14.03.XX 25 Cash Sales 333.00 17.03.XX 26 Debtor - S Green 453.00 17.03.XX 27 Cash Sales 510.00 19.03.XX 28 Cash Sales 338.00 21.03.XX 29 Debtor - R Smart 209.00 24.03.XX 30 Cash Sales 927.00 26.03.XX 31 Debtor - A Blue 425.00 30.03.XX 32 Cash Sales 1,254.00 31.03.XX 33 Cash Sales 739.00 TOTAL: $9,184.00

.2 Cash Payments Book - Prior To Reconciliation

Cash Payments (Bank Column only) of Smiths’ Motel for March 20XX

Date Ch.No. Particulars Bank

03.03.XX 350 Cash - Wages 685.00 03.03.XX 351 Castlemaine Perkins 1,250.00 10.03.XX 352 Cash - Wages 850.00 10.03.XX 353 Fresha Eggs 130.00 10.03.XX 354 Pacific Seafoods 937.00 10.03.XX 355 Currey (Q’ld) 395.00 17.03.XX 356 Cash - Wages 729.00 17.03.XX 357 City Meats 1,255.00 24.03.XX 358 Drawings - W Smith 468.00 24.03.XX 359 Cash - Wages 427.00 24.03.XX 360 Huggets 200.00 TOTAL: $7,326.00

.3 Previous Accounting Period Bank Reconciliation Statement

Cash Book Balance 31 January 20XX 2,500.00 Cr. Add Receipts 9,139.00


230903 Page 9

11,639.00 Less Payments 8,260.00 Cash Book Balance 28th February 20XX $3,379.00 Cr Bank Statement Balance 28 February 20XX 3,901.00 Cr. Add Deposits not yet credited 380.00 290.00 670.00 4,571.00 Less Unpresented Cheques No 329 197.00 342 160.00 346 185.00 349 650.00 1,192.00 Reconciled Balance as at 28 February 20XX $3,379.00 Cr.

.4 Bank Statement

The following Bank Statement was received by Smiths’ Motel for March 20XX.

Date Particulars Dr Cr Balance

Feb. 28 Balance B/F 3,901.00 Cr March 3 Deposit 670.00 4,571.00 Cr

3 Deposit 840.00 5,411.00 Cr 4 Cheque 185.00 5,226.00 Cr 5 Deposit 690.00 5,916.00 Cr 6 Cheque 350 685.00 5,231.00 Cr 6 Cheque 351 1,250.00 3,981.00 Cr 7 Deposit 615.00 4,596.00 Cr

10 Deposit 1,425.00 6,021.00 Cr 10 Cheque 329 197.00 5,824.00 Cr 11 Cheque 349 650.00 5,174.00 Cr 11 Cheque 352 850.00 4,324.00 Cr 12 Deposit 426.00 4,750.00 Cr 14 Cheque 354 937.00 3,813.00 Cr 14 Deposit 333.00 4,146.00 Cr 17 Payment by Authority 416.50 3,729.50 Cr 17 Deposit 963.00 4,692.50 Cr 18 Cheque 356 729.00 3,963.50 Cr 19 Deposit 338.00 4,301.50 Cr 21 Deposit 209.00 4,510.50 Cr 24 Cheque 357 1,255.00 3,255.50 Cr 24 Deposit 927.00 4,182.50 Cr 26 Deposit 425.00 4,607.50 Cr 27 Cheque 358 468.00 4,139.50 Cr 27 Federal Tax 32.60 4,106.90 Cr 27 Interest on IBD 113.40 4,220.30 Cr

.5 Exercise No. 2 Question

Preparation of Bank Reconciliation Statement - Smiths’ Motel. Can you please prepare the following:- 1. Cash Receipts Book - Addendum 002-061G Answer - Addendum 002-061J 2. Cash Payments Book - Addendum 002-061H Answer - Addendum 002-061K


230903 Page 10

3. Bank Reconciliation Statement - Addendum 002-061I Answer - Addendum 002-061L


230903 Page 11

ADDENDUM 002-061A

EXERCISE NO 1 - JOHN BROWN RETAIL CLOTHING COMPANY 002-061A Cash Receipts Book

Prior To Reconciliation Exercises

JOHN BROWN RETAIL CLOTHING COMPANY CASH RECEIPTS BOOK

Date

Receiv

ed

Fro

m

Receip

t N

o.

Am

ou

nt

$

Sale

s

$

Cap

ital

Co

ntr

ibu

ted

$

Su

nd

ry

$

GS

T

Pay

ab

le

02.06.XX John Brown 1525 1,000.00 1,000.00 04.06.XX Cash 1526 500.00 454.55 45.45 16.06.XX SGIO 1527 50.00 45.45


insurance)

4.55

24.06.XX Cash 1528 70.00 63.63 6.37 25.06.XX Cash 1529 200.00 181.81 18.19 29.06.XX Winter Festival 1530 450.00 450.00


30.06.XX John Brown 1531 20.00 20.00

- ESS BIZTOOLS Pty Ltd - ACN: 078 451 439 Paper 02.61 - Addendums

230903 Page 12

ADDENDUM 002-061B BOOKKEEPING SYSTEMS - BANK RECONCILIATION STATEMENT EXERCISES

Exercise No 1 - John Brown Retail Clothing Company

002-061B Cash Payments Book

Date

Pay

ee

Ch

q.N

o.

Am

ou

nt

Pu

rch

ase

s

Ren

t

Rep

air

s &

Main

t

Insu

ran

ce

M.V

.

Exp

en

ses

Ele

ctr

icit

y

Fu

el &

Oil

Po

sta

ge &

Sta

tio

nery

Cap

ital

Su

nd

ry

Inp

ut

Tax

Cre

dit


(Rep. neon sign) 189 200.00 181.82 18.18


190 205.00 186.36

18.64


Newsagency 192 20.00 18.18 1.82


194 10000.00 10000.00


195 150.00 150.00

19.06 BP Garage 196 90.00 81.82

8.18

22.06 XY Real Estate 197 50.00 45.46 4.54 25.06 SGIO

(Insur. Del. van) 198 250.00 227.27 22.73


(Store shelves) 200 600.00 545.45

54.55


201 150.00 150.00


230903 Page 13


230903 Page 14

ADDENDUM 002-061C

002-061C Bank Reconciliation Statement

Exercise No 1 - John Brown Retail Clothing Company

BANK RECONCILIATION STATEMENT AS AT


230903 Page 15

ADDENDUM 002-061D

BANK RECONCILIATION STATEMENTS

SUGGESTED SOLUTION - EXERCISE NO 1 - JOHN BROWN RETAIL CLOTHING COMPANY

002-061D Completed Cash Receipts Book

Date

Receiv

ed

Fro

m

Receip

t N

o.

Am

ou

nt

$

Sale

s

$

Cap

ital

Co

ntr

ibu

ted

$

Su

nd

ry

$

GS

T

Pay

ab

le

02.06 John Brown 1525 1,000.00 1,000.00 04.06 Cash 1526 500.00 454.55 45.45 16.06 SGIO 1527 50.00 45.45


insurance)

4.55

24.06 Cash 1528 70.00 63.63 6.37 25.06 Cash 1529 200.00 181.81 18.19 29.06 Winter Festival 1530 450.00 450.00


30.06 John Brown 1531 20.00 20.00

$2,290.00 $699.99 $1,020.00 $495.45 $74.56


230903 Page 16

ADDENDUM 002-061E

BANK RECONCILIATION STATEMENT EXERCISES Exercise No 1 - John Brown Retail Clothing Company

002-061E Completed Cash Payments Book

Date

Payee

Chq.N

o.

Am

ount

Purc

h.

Rent

Repa

irs &

Main

t

Insura

nce

M.V

.

Expenses

Ele

ctr

icity

Fuel &

Oil

Posta

ge

&

Sta

tion

ery

Capital

Sun

dry

Input

Tax

Cre

dit


(Rep. neon sign) 189 200.00 181.82 18.18


190 205.00 186.36

18.64


Newsagency 192 20.00 18.18 1.82


194 10000.00 10000.00


195 150.00 150.00

19.06 BP Garage 196 90.00 81.82 8.18 22.06 XY Real Estate 197 50.00 45.46 4.54 25.06 SGIO

(Insur. Del. van) 198 250.00 227.27 22.73


(Store shelves) 200 600.00 545.45

54.55


201 150.00 150.00

02.06 FDT 10.00 10.00


230903 Page 17

(Bank Charges) 05.05 Cheque Book

(Cheque Book) 10.00 10.00

$12920.00 $454.55 $90.92 $181.82 $545.45 $413.64 $31.82 $81.82 $18.18 $10545.45 $320.00 $236.36


220213 Page 18

ADDENDUM 002-061F

002-061F Bank Reconciliation Statement

BANK RECONCILIATION STATEMENT AS AT 30TH JUNE XXXX

JOHN BROWN RETAIL CLOTHING COMPANY

Cash Book Balance 31.5 39,750.00 Cr Add Receipts 2,290.00 42,040.00 Less Payments 12,920.00 Cash Book Balance 30.6 $29,120.00 Cr Bank Statement Balance 30.6 29,870.00 Cr Less Unpresented cheques 200 $600.00 201 $150.00 750.00 Reconciled Balance as at 30.6 $29,120.00 Cr


220213 Page 19

ADDENDUM 002-061G

EXERCISE NO 2 - SMITH'S MOTEL 002-061G Cash Receipts Book

Cash Receipts (Bank Column) of Smiths’ Motel for March 20XX

Date Receipt No.

Particulars Bank

02.03 19 Cash Sales 400.00 03.03 20 Debtor - J. Jones 440.00 05.03 21 Cash Sales 690.00 07.03 22 Cash Sales 615.00 10.03 23 Debtor - Jetset Travel 1,425.00 12.03 24 Cash Sales 426.00 14.03 25 Cash Sales 333.00 17.03 26 Debtor - S Green 453.00 17.03 27 Cash Sales 510.00 19.03 28 Cash Sales 338.00 21.03 29 Debtor - R Smart 209.00 24.03 30 Cash Sales 927.00 26.03 31 Debtor - A Blue 425.00 30.03 32 Cash Sales 1,254.00 31.03 33 Cash Sales 739.00 TOTAL: $9,184.00


220213 Page 20

ADDENDUM 002-061H

EXERCISE NO 2 - SMITH'S MOTEL 002-061H Cash Payment Book

Cash Payments (Bank Column only) of Smiths’ Motel for March 20XX


03.03 350 Cash - Wages 685.00 03.03 351 Castlemaine Perkins 1,250.00 10.03 352 Cash - Wages 850.00 10.03 353 Fresha Eggs 130.00 10.03 354 Pacific Seafoods 937.00 10.03 355 Currey (Q’ld) 395.00 17.03 356 Cash - Wages 729.00 17.03 357 City Meats 1,255.00 24.03 358 Drawings - W Smith 468.00 24.03 359 Cash - Wages 427.00 24.03 360 Huggets 200.00 TOTAL: $7,326.00


220213 Page 21

ADDENDUM 002-061I

EXERCISE NO 2 - SMITH'S MOTEL

002-061I Bank Reconciliation Statement

as at 31 March 20XX

Cash book balance 28th February 20XX

Add Receipts

Less Payments

Cash Book Balance 31st March 20XX

Bank Statement Balance 31 March 20XX

Add Deposits not yet credited

Less Unpresented Cheques

Reconciled Balance as at 31 March 20XX


220213 Page 22

ADDENDUM 002-061J

SUGGESTED SOLUTION - EXERCISE NO 2 - SMITH'S MOTEL

002-061J Completed Cash Receipts Book

Cash Receipts (Bank Column Only) of Smiths’ Motel for March 20XX

Date Receipt No.

Particulars Bank

02.03 19 Cash Sales 400.00 03.03 20 Debtor - J. Jones 440.00 05.03 21 Cash Sales 690.00 07.03 22 Cash Sales 615.00 10.03 23 Debtor - Jetset Travel 1,425.00 12.03 24 Cash Sales 426.00 14.03 25 Cash Sales 333.00 17.03 26 Debtor - S Green 453.00 17.03 27 Cash Sales 510.00 19.03 28 Cash Sales 338.00 21.03 29 Debtor - R Smart 209.00 24.03 30 Cash Sales 927.00 26.03 31 Debtor - A Blue 425.00 30.03 32 Cash Sales 1,254.00 31.03 33 Cash Sales 739.00 27.03 BS Interest on I.B.D. 113.40 TOTAL: $9,297.40


220213 Page 23

ADDENDUM 002-061K

002-061K Completed Cash Payments Book


03.03 350 Cash - Wages 685.00 03.03 351 Castlemaine Perkins 1,250.00 10.03 352 Cash - Wages 850.00 10.03 353 Fresha Eggs 130.00 10.03 354 Pacific Seafoods 937.00 10.03 355 Currey (Q’ld) 395.00 17.03 356 Cash - Wages 729.00 17.03 357 City Meats 1,255.00 24.03 358 Drawings - W Smith 468.00 24.03 359 Cash - Wages 427.00 24.03 360 Huggets 200.00 27.03 BS Payment by Authority (Motor Vehicle

Lease) 416.50

27.03 BS Bank Charges 32.60 TOTAL: $7,775.10


220213 Page 24

ADDENDUM 002-061L

002-061L Bank Reconciliation Exercise

BANK RECONCILIATION OF SMITH’S MOTEL

AS AT 31ST MARCH 20XX

Cash Book Balance 28 February 20XX 3,379.00 Cr Add Receipts 9,297.40 12,676.40 Less Payments 7,775.10 Cash Book Balance 31 March 20XX $4,901.30 Cr Bank Statement Balance 31 March 20XX 4,220.30 Cr Add Deposits not yet credited 30/3/XX Rec. 32 1,254.00 31/3/XX Rec 33 739.00 1,993.00 6,213.00 Less Unpresented Cheques 342 160.00 353 130.00 355 395.00 359 427.00 360 200.00 1,312.00 Reconciled Balance as at 31 March 20XX $4,901.30 Cr


220213 Page 25

AN IMPORTANT MESSAGE The forms and commentaries contained in this paper are provided as a guide only and should not form the sole basis for any advice in relation to the particular situation of any person without first obtaining proper professional advice. This paper is provided on the understanding that ESS BIZTOOLS Pty Ltd (ACN: 078 451 439) will not be responsible as a result of any use made by users hereof of the forms or commentaries of this paper without first obtaining specific professional advice. Neither shall ESS BIZTOOLS Pty Ltd be responsible for any errors or omissions contained in these papers. ESS BIZTOOLS Pty Ltd expressly disclaims liability whether under contract or negligence and whether to a direct purchaser of these papers or to any other person who may borrow or use them in respect of any loss or damage flowing therefrom whether direct or consequential. In particular and without limiting the extent of this disclaimer ESS BIZTOOLS Pty Ltd accepts no liability if any form or commentary contained herein, whether used in its original form or altered in some way by the user, proves not to be valid or not to attain the end result desired by the user. This exclusion shall extend both to the user and to any client of the user who may suffer loss as a result of the use of these papers and it shall apply even though ESS BIZTOOLS Pty Ltd may have been negligent in the publication or preparation of these papers. The user acknowledges that it has not made known to ESS BIZTOOLS Pty Ltd any particular purpose for which these papers are required and that it has not relied on ESS BIZTOOLS Pty Ltd's skill or judgement to provide a paper suitable for any such purpose.

INTELLECTUAL PROPERTY NOTICE The authority to use all copyright, trade marks and other intellectual property rights comprised in this paper is held exclusively by ESS BIZTOOLS Pty Ltd (ACN: 078 451 439). Neither these rights nor any part of this paper may be used, sold, transferred, licensed, copied or reproduced in whole or in part in any manner or form whatsoever without the prior written consent of ESS BIZTOOLS Pty Ltd (ACN: 078 451 439).

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