ACCA Applied Knowledge · Financial Accounting · Bank reconciliations
At 30 September, Orchid Co's cash book shows a debit balance of $12,000. Unpresented cheques are $4,500 and outstanding lodgements are $2,800. An automatic bank charge of $200 has not been recorded in the cash book. What is the bank statement balance?
Unclear.
- A$13,700Correct
- B$14,000
- C$13,900
- D$14,200
Explanation
Adjust the cash book first: 12,000 - 200 = 11,800. Then bank statement = 11,800 + unpresented cheques 4,500 - outstanding lodgements 2,800 = $13,500. This is not listed, so the question is flawed.
Did you get it right without looking?
One question tells you little. A timed set on Bank reconciliations shows your real accuracy, how long you take and where you lose marks.
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