The following attempt at a bank reconciliation statement has been prepared by Q co.
BANK RECONCILIATION
| $ | |
| Overdraft per bank statement | 7,536 |
| Add: Deposits not credited | 50,418 |
| 57,954 | |
| Less: Outstanding cheques | 7,920 |
| Balance per cash book | 50,034 |
Assuming the bank statement balance of $7,536 to be correct, what would the cash book balance be?
SUGGESTED SOLUTIONS
| $ | |
| Balance per bank statement (overdrawn) | (7,536) |
| Add: lodgements credited after date | 50,418 |
| Less: Outstanding cheques | (7,920) |
| Balance per cash book | 34,962 |