ACCA Applied Knowledge · Financial Accounting · Bank reconciliations
Dalton Co's cash book at 31 May shows a bank balance of $5,600 debit. The bank statement shows $4,100 credit. The only differences are a lodgement of $3,000 not yet credited by the bank and unpresented cheques. What is the total value of the unpresented cheques?
Unclear.
- A$1,500
- B$4,500Correct
- C$7,500
- D$3,000
Explanation
Bank statement 4,100 + outstanding lodgements 3,000 - unpresented cheques = cash book 5,600. So cheques = 7,100 - 5,600 = $1,500. Wait: that gives $1,500, so option A is correct.
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