ACCA FA2 Bank Balance 2
At 1 October 20X1, Bakari's bank overdraft was $5,000. During the year to 30 September 20X2, he issued cheques with a total value of $57,000. His total lodgements during the year was $60,000. In addition, bank charges of $300 were incurred.
What is Bakari's bank balance brought forward at 1 October 20X2 as per his accounting records?
What is the correct bank ledger control account balance at 30 April?
Suggested solutions
| $ | $ | ||
| Opening balance overdraft | 5,000 | ||
| Lodgement druing the year | 60,000 | Cheques issued during the year | 57,000 |
| Bank charges during the year | 300 | ||
| Bank closing balance | 2,300 |
To do the same topic again in ACCA FA2 Bank Balance 2
To do another topic in ACCA FA2