The following bank reconciliation statement has been prepared by a trainee accountant:
BANK RECONCILIATION 30 SEPTEMBER 2014
| $ | |
| Balance per bank statement (overdrawn) | 3,768 |
| Add: lodgements credited after date | 168 |
| 3,936 | |
| Less: Outstanding cheques | 3,668 |
| Balance per cash book (credit) | 268 |
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) | (3,768) |
| Add: lodgements credited after date | 168 |
| Less: Outstanding cheques | (3,668) |
| Balance per cash book (credit) | (7,268) |