Bank Reconciliation

03/10/2016
Bankreconciliation
ManualAccountingPracticeSet
ExtremelyBoard,AustralasianEdition3
Feedback:Bankreconciliation
Thisisafeedbackpage.Pleasereview thispagecarefullybecauselaterpagesinthispracticesetbuildonthe
feedbackprovidedhere.Afteryouhavereview edyourfeedbackpage,clickContinueatthebottomofthispageto
moveontothenextpageofyourpracticeset.
Yourprogress
Yourgrading
Yourgradingoutcome(stillinprogress)
Awarded Total
Points(priortothispage)
282
449
Points(onthispage)
171
177
410
Points(afterthispage)
Total
453 1,036
Com ple te d:
50%(approximately)
Re m ainingpage s w illtak e : upto8.5hours

Thetim efram esweprovideareaguideonly.It
m aytakeyoum oreorlesstim etocom pleteeach
step.
Now thatyouhavefinishedrecordingallofthetransactionsforthemonthofJune,youarerequiredtopreparea
bankreconciliatonasat30June2016.
Thepurposeofthebankreconciliationprocessistoreconcilethebalanceofcashshow ninthecompany'sledger
accountagainstthebalanceofcashreportedinthebankstatement.
Instructionsforbankreconciliation
1) Identifyanyreconcilingitemsandrecordtherelevantreconcilingitemsintheappropriatejournals.Todothis,
youw illneedtouse:
thepreviousmonth'sbankreconciliationstatement,and
thecurrentmonth'sbankstatement
Notethatthegeneraljournalisnotprovidedonthispageoftheprac tic esetbec auseyouarerequired

touseotherjournalstorec ordthoserec onc ilingitems.
Whenyouenteritemsintothejournals,ifachequenumberisnotrequired,youneedtofilltheappropriate
inputboxw ithanX.
2) Postentriesrecordedinthejournalstotheappropriateledgeraccountsaccordingtothecompany's
accountingpoliciesandprocedures.
3) TotaltheCashatBankcolumnsinthespecialjournals.RecordtheamountintheTotalrow ofeachjournal.On
thisw ebpage,youarenotrequiredtototaltherestofthecolumnsinthespecialjournals.Youw illtotalthese
columnsandpostthemtotheledgerinthenextstageofthepracticeset.
4) PostthetotaloftheCashatBankcolumnsinthespecialjournalstotheircorrespondingledgeraccount.To
confirmthatthepostinghasbeenperformed,apostingreferenceisrecordedinthelastrow ofthespecial
journals.
https://www.perdisco.com/elms/qsam/html/qsam.aspx
1/9
03/10/2016
Bankreconciliation
5) Preparethebankreconciliationstatementasat30June2016.Thebankreconciliationstatementprovided
below maycontainmorerow sthanrequired.
Allansw erscanbeenteredaspositiveornegativenumbersasrequired.
BackO nTrackfunctionality
Pleasenotethatanyansw ersfrompreviouspagescarriedthroughontothispage(eitheronthepageor
inapopupinformationpage)havebeenreset,ifnecessary,tothecorrectansw ers.Yourparticular
answ ersfrompreviouspagesarenolongershow n.
Remember:
Enterallansw erstothenearestwholedollar.
Whencompletingthejournals,ifachequenumberisnotrequired,youneedtofilltheappropriateinputbox
w ithanX.
Youarealsorequiredtoapplythejournalsandledgersinstructionsprovidedinpreviousw eeks.
BeforepressingtheSubmitansw ersbutton,w erecommendthatyouclicktheShowAlltabandcheckthatall
relevantaccountingrecordshavebeencompleted.
Ifyouw anttoprintthispage,pleasereadandfollow thespecialprintinginformationtoensureyoucanprintthe
specialjournalsinfull.
ShowAll BankRec onc iliation
Spec ialJournals
SubsidiaryLedgers
GeneralLedger
ExtremelyBoard
BankReconciliationStatement
Asat30/06/2016
Balanceasperbankstatement:
101852 CR
Add:
depositintransit
1951
Total
1951
103803 CR
Less:
unpresentedcheque
No.
611
6100
unpresentedcheque
No.
609
3747
unpresentedcheque
No.
606
3847
No.
Total
13694
Adjustedbankbalance
90109 CR
Balanceasperledgeraccount
90109 DR
Feedback
ExtremelyBoard
2/9
03/10/2016
Bankreconciliation
BankReconciliationStatementasat30/06/2016
Balanceasperbankstatement:
101,852 CR
Add:
depositintransit
1,951
1,951
103,803 CR
Less:
unpresentedcheque
No.606 3,847
unpresentedcheque
No.609 3,747
unpresentedcheque
No.611 6,100 13,694
Adjustedbankbalance
90,109 CR
Balanceasperledgeraccount
90,109 DR
(Q=801.cashJournalsBankRec)
CASHRECEIPTSJOURNAL
Note:Inordertoreceivefullpoints,foreachtransactionyoumustselectanaccountunderthecolumnlabelled
'Account',asindicatedundertheadditionalinstructionsabove.SincealltransactionsinthisjournalaffecttheCash
atBankaccount,youareaskedtoenterthenameoftheappropriateaccountcreditedinthesetransactionsinto
theAccountcolumnsothatthetypeoftransactioncanbedeterminedbythenameoftheaccountenteredinto
thiscolumn.
Date
Account
Jun
1 BankLoanPayable
Jun
4 SalesRevenue
Jun 11 ARCJumpAround
Jun 11 SalesRevenue
Jun 18 ARCGreatSports
Jun 18 SalesRevenue
Jun 19 ARCBalls'nAll
Jun 25 SalesRevenue
Jun 29 ARCTheLockerRoom
Jun 30 SalesRevenue
Jun 30 InterestRevenue
Debit
Post
Ref.
Ca sha tBa nk
Credit
Discount
Allowed
Sa les
Revenue
Accounts
Other
Receiva ble Accounts
250
45,000
45,000
5,840
5,840
1101
1,169
62
1,231
11,015
11,015
1106
1,000
1,000
9,261
9,261
1103
1,951
1,951
11,318
11,318
1104
3,894
3,894
7,976
7,976
403
249
249
98673
100 )
Jun 30
Jun 30
Jun 30
Jun 30
Jun 30
Total
PostReference
CASHPAYMENTSJOURNAL
3/9
03/10/2016
Bankreconciliation
Note:Inordertoreceivefullpoints,foreachtransactionyoumustselectanaccountunderthecolumnlabelled
'Account',asindicatedundertheadditionalinstructionsabove.SincealltransactionsinthisjournalaffecttheCash
atBankaccount,youareaskedtoenterthenameoftheappropriateaccountdebitedinthesetransactionsinto
theAccountcolumnsothatthetypeoftransactioncanbedeterminedbythenameoftheaccountenteredinto
thiscolumn.
Date
Account
Cheque
No.
Debit
Post
Ref.
Credit
Accounts
Other
Purcha ses
Pa ya ble
Accounts
Ca sha tBa nk
Discount
Received
Jun
3 Purchases
603
684
684
Jun
4 APCExtremeSportsSupplies
604
2102
2,303
2,280
23
Jun
6 APCHike
605
2104
3,764
3,689
75
Jun 11 APCJ.J.Spud
606
2105
3,847
3,847
Jun 15 WagesExpense
607
516
5,857
5,857
Jun 24 APCGoodSports
608
2103
4,648
4,648
Jun 27 APCSportBorders
609
2101
3,747
3,747
Jun 29 WagesExpense
610
516
5,986
5,986
Jun 30 SalaryExpense
611
545
6,100
6,100
X 1106/110
1000
1000
Jun 30 BankCharges
Total
PostReference
572
Jun 30
Jun 30
Jun 30
Jun 30
37844
100 )
Feedback
CASHRECEIPTSJOURNAL
Date
Account
Jun
1 BankLoanPayable
Jun
4 SalesRevenue
Jun 11 ARCJumpAround
Jun 11 SalesRevenue
Jun 18 SalesRevenue
Jun 19 ARCBalls'nAll
Jun 25 SalesRevenue
Jun 29 ARCTheLockerRoom
Jun 30 SalesRevenue
Credit
Sa les
Accounts
Other
Revenue Receiva ble Accounts
Debit
Post
Ref.
Ca sha t
Ba nk
Discount
Allowed
250
45,000
45,000
5,840
5,840
1101
1,169
62
1,231
11,015
11,015
1106
1,000
1,000
9,261
9,261
1103
1,951
1,951
11,318
11,318
1104
3,894
3,894
7,976
7,976
1106
1,000
1,000
4/9
03/10/2016
Bankreconciliation
Jun 30 InterestRevenue
403
Total
Postreference
249
249
97,673
(100)
Yourtreatmentofthedishonouredcheque
Youhavechosentorecordthedishonouredchequeasapositiveentryinthecashpaymentsjournal.
Whilethisisoneapproachandyouhaveearnedsomepoints,itisnotthemostacademically
appropriateapproach.Amoreappropriateapproachistorecordthedishonouredchequeasa
negativeentryinthecashreceiptsjournalbecauseadishonouredchequerepresentsanexpected
cashinflow thathasfailedtobereceiveditdoesnotrepresentacashoutflow .Sinceyouhavenot
follow edthemostacademicallyappropriateapproach,youw illseethemarker(show nhereonthe
left)placedagainstthatentryinyouransw ersabove.
Ifyouhavemadenoothererrorsandyoucorrectlycalculatedallsubsequenttotalsandledger
postingsarisingfromyourapproachtothedishonouredcheque,thenyoursubsequenttotalsand
ledgerpostingsw illhavebeengradedascorrectandhaveagreentickshow nagainsttheminyour
answ ersonthisw ebpage.Ifyoudidmakefurthererrors,thoseothererrorsmayhavecomplex
impactsonyoursubsequenttotalsandledgerpostingsandyouransw ersw illbegraded
appropriately.
Pleasenotethatourbackontrackfunctionalityhasnow correctedyourresponses.Thismeansthat
thefeedbackprovidedonthispageshow sthedishonouredchequebeingrecordedasanegative
entryinthecashreceiptsjournal.Allsubsequenttotalsandledgerpostingsarealsobasedonthe
dishonouredchequebeingrecordedasanegativeentryinthecashreceiptsjournal.Pleasestudythe
feedbackprovidedw ithextracareonthisoccasionbecauseitisdifferenttoyourapproach.
CASHPAYMENTSJOURNAL
Date
Account
Cheque
No.
Debit
Post
Ref.
Credit
Accounts
Other
Purcha ses
Pa ya ble
Accounts
Ca sha t
Ba nk
Discount
Received
Jun
3 Purchases
603
684
684
Jun
4 APCExtremeSportsSupplies
604
2102
2,303
2,280
23
Jun
6 APCHike
605
2104
3,764
3,689
75
Jun 11 APCJ.J.Spud
606
2105
3,847
3,847
Jun 15 WagesExpense
607
516
5,857
5,857
Jun 24 APCGoodSports
608
2103
4,648
4,648
Jun 27 APCSportBorders
609
2101
3,747
3,747
Jun 29 WagesExpense
610
516
5,986
5,986
Jun 30 SalaryExpense
611
545
6,100
6,100
Jun 30 BankCharges
572
Total
36,844
Postreference
(100)
(Q=8031104.AcctsRec4_bankRec)
SUBSIDIARYLEDGERS
Ac c ount:ARCTheLoc kerRoom
Ac c ountNo.1104
Date
May
Description
Ref.
31 Balance
Jun
29 Repayment
Jun
30
Debit
Credit
Balance
3,894DR
CRJ
3,894
5/9
03/10/2016
Bankreconciliation
Jun
30
Jun
30
Feedback
TherearenorelevantentriesintheTheLockerRoomledgerforthisw eek.
(Q=8031106.AcctsRec6_bankRec)
Ac c ount:ARCGreatSports
Ac c ountNo.1106
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
12 Creditsale
SJ
1,260
1,260DR
Jun
18 Repayment
CRJ
1,000
260DR
Jun
23 Creditsale
SJ
1,000
1,260DR
Jun
30 DishonouredCheque
CPJ
1000
Jun
30
Jun
30
2260 DR
Feedback
Ac c ount:ARCGreatSports
Ac c ountNo.1106
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
12 Creditsale
SJ
1,260
1,260DR
Jun
18 Repayment
CRJ
1,000
260DR
Jun
23 Creditsale
SJ
1,000
1,260DR
Jun
30 Dishonouredcheque
CRJ
1,000
2,260DR
(Q=804100.CashAtBank_bankRec)
GENERALLEDGER
Ac c ount:CashatBank
Ac c ountNo.100
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
29,280DR
Jun
30 CashReceivablesTotal
CRJ
98673
127953 DR
Jun
30 CashPayableTotal
CPJ
37844
90109 DR
Jun
30
Feedback
6/9
03/10/2016
Bankreconciliation
Ac c ount:CashatBank
Ac c ountNo.100
Date
Description
Ref.
Debit
Credit
29,280DR
30 Totalfromcashreceiptsjournal
CRJ
97,673
126,953DR
30 Totalfromcashpaymentsjournal
CPJ
36,844
90,109DR
May
31 Balance
Jun
Jun
(Q=8041100.ARControl_bankRec)
Ac c ount:ARCAc c ountsRec eivableControl

Ac c ountNo.110
Date
May
Balance
Description
Ref.
Debit
Credit
Balance
9,978DR
GJ
1,234
8,744DR
1000
31 Balance
Jun
11 SalesreturnfromBalls'nAll
Jun
30 DishonouredChequeGreatSportsCPJ
Jun
30
Jun
30
Jun
30
9744 DR
Feedback
TherearenorelevantentriesintheAccountsReceivableControlledgerforthisw eek.
(Q=804201.InterestPayable_bankRec)
Ac c ount:InterestPayable
Ac c ountNo.225
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
30
Jun
30
Jun
30
Feedback
TherearenorelevantentriesintheInterestPayableledgerforthisw eek.
(Q=804403.InterestRevenue_bankRec)
Ac c ount:InterestRevenue
Ac c ountNo.403
Date
May
Description
Ref.
31 Balance
Jun
30 Interestreceivedfrombank
CRJ
Jun
30
Debit
Credit
Balance
249
249 CR
7/9
03/10/2016
Bankreconciliation
Jun
30
Feedback
Ac c ount:InterestRevenue
Ac c ountNo.403
Date
Description
Ref.
May
31 Balance
Jun
30 Interestreceivedfromthebank
Debit
Credit
CRJ
249
249CR
(Q=804571.InterestExpense_bankRec)
Ac c ount:InterestExpense
Ac c ountNo.571
Date
May
Balance
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
30
Jun
30
Jun
30
Feedback
TherearenorelevantentriesintheInterestExpenseledgerforthisw eek.
(Q=804572.BankCharges_bankRec)
Ac c ount:BankCharges
Ac c ountNo.572
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
Jun
30 Transactionfee
CPJ
6 DR
Jun
30
Jun
30
Feedback
Ac c ount:BankCharges
Ac c ountNo.572
Date
Description
May
31 Balance
Jun
30 Transactionfee
Ref.
Debit
Credit
Balance
CPJ
6DR
ManualAccountingPracticeSet
ExtremelyBoard,Aus tralas ianEdition3(VBA3q)
2 0 0 9 2 0 1 4 P erdis c o/latin/.v.,learnthoroughly
8/9
03/10/2016
Bankreconciliation
2 0 0 9 2 0 1 4 P erdis c o/latin/.v.,learnthoroughly
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Terms O fU s e| P rivac yP olic y| M onday,O c tober0 3 ,2 0 1 6 ,0 4 :5 4
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Bank Reconciliation

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Bank Reconciliation

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03/10/2016

Re m ainingpage s w illtak e : upto8.5hours

Notethatthegeneraljournalisnotprovidedonthispageoftheprac tic esetbec auseyouarerequired

ShowAll BankRec onc iliation

No.611 6,100 13,694

Ac c ount:ARCAc c ountsRec eivableControl

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