How often Bank reconciliation is asked

Where it was asked

What costs marks here

The questions

1. May/Jun 2017, Q1.19 marks

   Tembo Dealers' bank reconciliation at 31 May 2016: credit balance per bank statement R37 730; deposit not yet credited R26 780; cheques not yet presented — 200 R1 200, 277 R5 200, 278 R2 100, 280 R950; debit balance per bank account R55 060. June 2016 cash receipts journal bank column totals R100 625 (deposits of R15 450 on the 12th, R69 745 on the 15th, R9 000 on the 29th and R6 430 on the 30th); cash payments journal totals R40 385 (cheques 300 R1 940, 301 R14 925, 302 R5 720, 303 cancelled, 304 R3 900, 305 R13 900). The June bank statement shows: the R26 780 deposit; cheques 300, 280, 301 and 302 paid; a R2 500 stop order (monthly insurance premium, Leo Insurers); an unpaid cheque of R900 from debtor Mrs Y Peters (dishonoured for insufficient funds; it was part of May's outstanding deposit); the R15 450 and R69 745 deposits; a R10 000 direct deposit from tenant Mr P Jones; a R1 000 debit order for an annual magazine subscription; interest received R100; bank charges R90; the R9 000 deposit; and a R15 000 direct deposit from GC Computers credited to Tembo in error. Cheque 200, issued on 3 December 2015 to Plumbing Wizards for repairs, is now stale. Complete the bank columns of the cash receipts and cash payments journals for June 2016, starting with the totals.

2. May/Jun 2017, Q1.25 marks

   Using the Tembo Dealers information, prepare the bank account in the general ledger, properly balanced, at 30 June 2016.

3. May/Jun 2017, Q1.310 marks

   Using the Tembo Dealers information, prepare the bank reconciliation statement as at 30 June 2016.

4. Oct/Nov 2016, Q3.18 marks

   Acting Traders, May 2016: bank account overdrawn R31 580 at 30 April 2016; bank statement unfavourable R32 126 at 31 May 2016; cash receipts journal R51 250; cash payments journal R48 250. On the April reconciliation but not on the May statement: cheque 431 (30 November 2015, Crazy Dealers) R1 200 and cheque 685 (4 March 2016, ICT Services) R2 050. In the May journals but not on the statement: a R2 500 deposit on 31 May and cheque 759 (30 May, creditor Barney) R3 085. On the statement but not in the journals: a R2 500 direct deposit for rent from Mickey Mouse; interest on overdraft R750; ledger and cash handling fees R881; an R/D cheque from debtor Teletubbies R450; a R3 500 deposit belonging to another client credited in error; a R1 250 insurance stop order; and a R10 350 cheque of another client debited in error. Cheque 736 for R1 535 to Barney Furnishers (furniture) was recorded in the December 2015 cash payments journal as R1 835. Complete the detail and bank columns of the cash receipts and cash payments journals for May 2016.

5. Oct/Nov 2016, Q3.23.5 marks

   Using the Acting Traders information, prepare the bank account in the general ledger, properly balanced, at 31 May 2016.

6. Oct/Nov 2016, Q3.36.5 marks

   Using the Acting Traders information, prepare the bank reconciliation statement as at 31 May 2016, beginning with the balance per bank statement.

7. Oct/Nov 2016, Q5.31 mark · multiple choice

   Cheques issued to suppliers but not yet presented to the bank for payment when the bank reconciliation statement is prepared are called what?

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8. Oct/Nov 2015, Q2.18 marks

   Imperial Wholesalers: bank account in the general ledger R1 752 favourable at 1 January 2015; bank statement R432 overdrawn at 31 January 2015. January subtotals: cash receipts journal bank column R24 480; cash payments journal R22 815. Differences found: debtor P Pinto paid R600 directly into the bank account; the bank wrongly debited the account with another client's R1 450 cheque; a R218 cheque from debtor E Eysele received on 17 January was returned on 28 January because of an error on the cheque; service fees R45 and interest on overdraft R32 appear only on the statement; a R3 800 debit order for office rent to AP Office Ltd is on the statement but not in the journal; R1 184 of sales entered in the cash receipts journal on 31 January was only deposited on 4 February; cheques not yet presented — 218 (25 July 2014, BB Ltd, a creditor) R430, 380 (17 January 2015, Telkom) R1 100, 394 (23 January 2015, Rio Stationers) R750. Prepare the bank columns of the cash receipts and cash payments journals at 31 January 2015, starting with the totals given.

9. Oct/Nov 2015, Q2.24 marks

   Using the Imperial Wholesalers information, prepare the bank account, properly balanced, in the general ledger at 31 January 2015.

10. Oct/Nov 2015, Q2.38 marks

    Using the Imperial Wholesalers information, prepare the bank reconciliation statement as at 31 January 2015, beginning with the balance per bank statement.

11. May/Jun 2015, Q3.112 marks

    Basson Traders' bank reconciliation at 31 March 2015: credit balance per bank statement R2 732; outstanding deposit R6 480; cheques not yet presented — 090 (17 Oct 2014, donation) R1 200, 168 (28 Mar 2015, P Mboko) R860, 170 (29 Mar 2015) R4 502; debit balance per bank account R2 650. April 2015: cash receipts journal bank column R30 090; cash payments journal R20 054; the bank statement shows a favourable balance of R12 900 at 30 April. Only on the April statement: cheque book R96; cash handling fees R30; interest on the favourable balance R50; a R2 000 stop order for the MY Bank mortgage; a R1 700 stop order to US Bank for a vehicle instalment. The March outstanding deposit was credited on 1 April. Cheques not on the statement: 211 (20 Apr, Swift Suppliers) R3 532, 216 (28 Apr, water and electricity) R3 668, 221 (30 Apr, Red Cross) R1 200. Cheque 090 to the Red Cross was cancelled on 30 April and replaced by cheque 221 — the cancellation is not yet recorded. Of the March outstanding cheques only 170 was presented. Cheque 195 to creditor Handy Wholesalers was correctly issued for R1 578 but recorded on the counterfoil and in the cash payments journal as R1 758. An R/D cheque of R500 from S Steward, received in settlement of his R530 account, appears only on the statement. A R4 500 deposit from Y York, whose account was previously written off, appears on the statement. A post-dated (24 May) cheque for R780 from debtor Escourt Traders, recorded in April, was returned by the bank marked post-dated. A R9 870 deposit made on 30 April has not yet been credited. Complete only the bank columns of the cash receipts and cash payments journals at 30 April 2015.

12. May/Jun 2015, Q3.26 marks

    Using the Basson Traders information, prepare the properly balanced bank account in the general ledger at 30 April 2015.

13. May/Jun 2015, Q3.37 marks

    Using the Basson Traders information, prepare the bank reconciliation statement as at 30 April 2015.

14. Oct/Nov 2014, Q1.19 marks

    Masuku Enterprise, March 2014: cash receipts journal total R15 685, cash payments journal total R13 236; the general-ledger bank account had a favourable balance of R750 at 28 February 2014; the bank statement shows a favourable balance of R8 493 at 31 March 2014. On the February reconciliation but not on the March statement: cheque 345 for R1 650 to creditor Dalrius Dealers, issued 8 September 2013 and now stale. In the March journals but not on the statement: cheque 856 (S Madiki) R3 600, cheque 858 (P Planti) R3 000, cheque 863 (Incredilous One Touch, communication expenses) R1 659, and a R4 710 deposit made on 27 March which the bank put into another client's account by mistake. On the statement but not in the journals: bank charges R250; cash handling fee R65; a R4 000 rent deposit from P Kwinana; a cheque from debtor N Madula returned R/D, R910; interest on fixed deposit R200; R1 000 paid directly by debtor G Mapetela; and a R3 780 cheque issued by D Dakula, another client of the bank. A R1 500 cheque for cash purchases was recorded in the cash payments journal as R150. A R1 250 deposit on the statement was made by another client of the bank. Complete only the bank columns of the cash receipts and cash payments journals at 31 March 2014.

15. Oct/Nov 2014, Q1.26 marks

    Using the Masuku Enterprise information, prepare the bank account in the general ledger, properly balanced, at 31 March 2014.

16. Oct/Nov 2014, Q1.311 marks

    Using the Masuku Enterprise information, prepare the bank reconciliation statement as at 31 March 2014, starting with the balance per bank statement.

17. May/Jun 2014, Q4.19 marks

    Sibasa Traders' bank account showed a debit balance of R26 860 on 30 November 2013; the bank statement at 31 December 2013 shows a DEBIT balance of R15 746 (an overdraft). December totals: cash receipts journal R49 352, cash payments journal R44 475. On the November reconciliation but not on the December statement: cheque 431 (30 June 2012, Whispers Dealers) R990, which was lost and has since been cancelled, and cheque 698 (3 Nov 2013, Walti Stationers) R1 020. In the December journals but not on the statement: a deposit of R46 945 on 31 December, cheque 756 (28 Dec, F Fire) R3 200 and cheque 759 (30 Dec, K Kalabi) R3 085. On the statement but not in the journals: a direct deposit of R1 250 rent from Brown Dwellers; interest on overdraft R160; ledger fees R48; cash handling fee R70; an R/D cheque from debtor PQ Solomuns R305; a R1 500 deposit belonging to another client credited to Sibasa's account in error; a R1 300 stop order for insurance; and a R10 000 cheque of another client debited to Sibasa's account in error. Also, cheque 736 for R1 535 to Hanarins Furnishers was recorded in the December cash payments journal as R1 835. Complete the bank columns of the cash receipts and cash payments journals for December 2013.

18. May/Jun 2014, Q4.25 marks

    Using the Sibasa Traders information, prepare the properly balanced bank account in the general ledger at 31 December 2013.

19. May/Jun 2014, Q4.311 marks

    Using the Sibasa Traders information, prepare the bank reconciliation statement as at 31 December 2013, beginning with the balance per bank statement.

20. Oct/Nov 2013, Q1.19 marks

    Basadi Traders' bookkeeper is on leave and the April 2013 bank reconciliation must be done. The March 2013 reconciliation showed a credit balance per bank statement of R3 071, a deposit not yet credited of R3 100, cheques not yet presented — no. 41 (1 Oct 2012, KK Sams) R900, no. 91 (5 Mar 2013, A Gideon) R140 and no. 94 (28 Mar 2013, AB Wholesalers) R200 — and a debit balance per bank account of R4 931. The April bank-column subtotals are R8 849 in the cash receipts journal and R5 520 in the cash payments journal. Comparing with the April bank statement: cheque 41 is still unpresented and has gone stale; cheque 91 was lost in the post with no entry made, and cheque 98 (5 April) was issued to replace it; cheque 94 is still unpresented and the R3 100 deposit has now appeared. The April statement also showed: an EFT of R800 to creditor S Sekhukhune that the bookkeeper never recorded; a R700 cheque from debtor M Medupe dishonoured because of insolvency; a R5 340 deposit of 29 April sales not yet on the statement; a service fee of R244, a cash deposit fee of R79 and interest on the favourable balance of R158 appearing on the statement only; cheques no. 105 (R670, A Kalaka) and no. 112 (R790, S Maloka) not yet presented; cheque no. 102 to NAC Stationers for R282 recorded in the cash payments journal as R228; and a favourable statement balance of R3 901 at 30 April. Complete the cash receipts journal and cash payments journal for April 2013 (details and bank column only).

21. Oct/Nov 2013, Q1.26 marks

    Using the Basadi Traders information, prepare the properly balanced bank account in the general ledger for the month ending 30 April 2013.

22. Oct/Nov 2013, Q1.38 marks

    Using the Basadi Traders information, prepare the bank reconciliation statement as at 30 April 2013.