cameroon gce advanced level financial accounting 2

cameroon gce advanced level financial accounting 2

cameroon gce advanced level financial accounting 2

1. MATOH enterprise received a bank statement from ECO- bank with a credit balance of 1,249,425 CFAF on 31/12/2018. The bank account kept by MATOH enterprise shows a debit balance of 801,375 CFAF. On verifying the bank statement with the bank account kept by the enterprise, the following irregularities were noticed.

• A customer’s transfer was recorded by the bank but not by the enterprise for 8,100 CFAF
• An amount of 60,000 CFAF as bank charge was discovered in the bank statement.
• Cheque N^o: 475 for 210,000 CFAF to supplier EYOM was still on transit.
• Cheque N^o: 556 of 187,500 CFAF issued to a supplier has not been presented for settlement.
• AGIO of 9,300 CFAF for a discounted bill was unknown to the enterprise.
• The bank has not yet deducted the standing order for CAMWATER 111,750 CFAF

Required:

Prepare a bank reconciliation statement as at 31/12/2018 and show the adjustment entries of the bank reconciliation                                                                                                                           (20 marks)

(Total 20 marks)