The following bank reconciliation statement has been prepared by a trainee accountant:
BANK RECONCILIATION 30 SEPTEMBER 2014
| $ | |
| Balance per bank statement (overdrawn) | 6,280 |
| Add: lodgements credited after date | 392 |
| 6,672 | |
| Less: Outstanding cheques | 1,572 |
| Balance per cash book (credit) | 5,100 |
Assuming the amounts stated for items other than the cash book balance are correct, what should the cash book balance be?
SUGGESTED SOLUTIONS
| $ | |
| Balance per bank statement (overdrawn) | (6,280) |
| Add: lodgements credited after date | 392 |
| Less: Outstanding cheques | (1,572) |
| Balance per cash book (credit) | (7,460) |