ACCA F3 Bank Reconciliation 9

Sigma's bank statement shows an overdrawn balance of $17,280 at 30 June 2015. A check against the company's cash book revealed the following differences:

1. Bank charges of $4,716 have not been entered in the case book.

2. Lodgements recorded on 30 June 2015 but credited by the bank on 2 July $831.

3. Cheque repayments entered in cash book but not presented for payment at 30 June 2015 $375.

4. A cheque payment to a supplier of $110 charged to the account in June 2015 recorded in the cash book as a receipt.

Based on this information, what was the cash book balance before any adjustments? SUGGESTED SOLUTIONS

BANK STATEMENT

$
Closing balance OD (17,280)
Add Lodgements 831
Minus cheques not presented (375)
Adjusted Bank balance OD (16,824)

BANK ACCOUNT

DEBIT $ CREDIT $
Opening balance OD ???
Bank charges 4,716
Error adjustment 220
Closing Balance 16,824

Solve the equation

Answer = $11,888

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