cameroon gce advanced level financial accounting 2
cameroon gce advanced level financial accounting 2
- 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 No: 475 for 210,000 CFAF to supplier EYOM was still on transit.
- Cheque No: 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)
Simon
January 27, 2024
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