ACCA FA2 Bank Balance 2
At 1 October 20X1, Bakari's bank overdraft was $6,000. During the year to 30 September 20X2, he issued cheques with a total value of $38,000. His total lodgements during the year was $40,000. In addition, bank charges of $500 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 | 6,000 | ||
| Lodgement druing the year | 40,000 | Cheques issued during the year | 38,000 |
| Bank charges during the year | 500 | ||
| Bank closing balance | 4,500 |
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