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Refer to the two financial records, the cash book and the Bank statement below to prepare a Bank Reconciliation statement.
Accounting
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2 stepsQ1. Refer to the two financial records, the cash book and the Bank statement below to prepare a Bank Reconciliation statement.
Identify matching items in the Cash Book Account and Bank Statement.
- Opening Balance: K 500 (matches in both)
- Cheque 106: K 300 (payment in Cash Book, debit in Bank Statement - matches)
Identify outstanding items.
- Deposits not credited: Receipts in Cash Book but not in Bank Statement.
- DS7: K 30
- DS8: K 50
- Total deposits not credited = K 30 + K 50 = K 80
- Deposits not credited: Receipts in Cash Book but not in Bank Statement.
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