Business Basics 1.031

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- ESS BIZTOOLS Pty Ltd - ACN: 078 451 439

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BOOKKEEPING SYSTEMS

BANK RECONCILIATION STATEMENT EXERCISES

Paper 002-061

CONTENTS

Page

EXERCISE NO. 1 - JOHN BROWN RETAIL CLOTHING COMPANY ........................................................ 3

.1

Previous Accounting Period Bank Reconciliation Statement ................................................. 3

.2 Cash Receipts Book - Prior To Reconciliation.......................................................................... 3

.3 Cash Payments Book - Prior To Reconciliation ........................................................................ 5

.4

Bank Statement ............................................................................................................................ 6

.5

Exercise No 1 - Question ............................................................................................................. 7

EXERCISE NO. 2 - SMITHS MOTEL........................................................................................................... 8

.1

Cash Receipts Book Prior To Reconciliation ............................................................................ 8

.2 Cash Payments Book - Prior To Reconciliation ........................................................................ 8

.3

Previous Accounting Period Bank Reconciliation Statement ................................................. 8

.4 Bank Statement ............................................................................................................................ 9

.5 Exercise No. 2 Question .............................................................................................................. 9

ADDENDUMS

002-061A Cash Receipts Book ............................................................................................................ 11

002-061B

Cash Payments Book .......................................................................................................... 12

002-061C

Bank Reconciliation Statement .......................................................................................... 14

002-061D

Completed Cash Receipts Book ........................................................................................ 15

002-061E Completed Cash Payments Book ...................................................................................... 16

002-061F Bank Reconciliation Statement .......................................................................................... 18

002-061G Cash Receipts Book ............................................................................................................ 19

002-061H

Cash Payment Book ............................................................................................................ 20

002-061IBank Reconciliation Statement ................................................................................................ 21

002-061JCompleted Cash Receipts Book ............................................................................................... 22

002-061K

Completed Cash Payments Book ...................................................................................... 23


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002-061L Bank Reconciliation Exercise ............................................................................................. 24


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BOOKKEEPING SYSTEMS

BANK RECONCILIATION STATEMENT EXERCISES

Paper 002-061

EXERCISE NO. 1 - JOHN BROWN RETAIL CLOTHING COMPANY

.1 Previous Accounting Period Bank Reconciliation Statement

BANK RECONCILIATION STATEMENT AS AT 31 MAY 20XX

Cash Book Balance 30.4.XX $47,620.00 Cr.Add Receipts $ 3,100.00

$50,720.00Less Payments $10,970.00Cash Book Balance as at 31.5.XX $39,750.00 Cr

Bank Statement Balance 31.5.XX $40,000.00 CrLess Unpresented Cheques: 185 $200.00

186 $ 50.00 $ 250.00Reconciled Balance as at 31.5.XX $39,750.00 Cr

.2 Cash Receipts Book - Prior To Reconciliation

CASH RECEIPTS BOOK

Date

Received

From

ReceiptNo

Amount

$ Sales

$ Capital

Contributed

$ Sundry

$ GST

Payable

02.06.XX John Brown 1525 1,000.0

01,000.00

04.06.XX Cash 1526 500.00 454.55 45.4516.06.XX SGIO 1527 50.00 45.45

(Refundoverpaid shop

4.55


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insurance)24.06.XX Cash 1528 70.00 63.63 6.3725.06.XX Cash 1529 200.00 181.81 18.1929.06.XX Winter

Festival

1530 450.00 450.00

(Windowdisplay prize)

30.06.XX John Brown 1531 20.00 20.00


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.3 Cash Payments Book - Prior To Reconciliation

JOHN BROWN RETAIL CLOTHING COMPANY - CASH PAYMENTS BOOK

Date

Payee

Chq.No.

Amount

Purchase

s Rent

Repairs&

Maint

Insurance

M.V.

Expenses

Electricity

Fuel&Oil

Postage

& Stationery

Capital

Sundry

InputTax

Credit

Yr XX

01.06 A8 Clothing Co 187 100.00 90.91 9.0902.06 XY Real Estate 188 50.00 45.46 4.5404.06 A Electrician

(Rep. neon sign)189 200.00 181.82 18.18

07.06 Rubber Tyre Co(Tyres Del. Van)

190 205.00 186.36 18.64

08.06 Ergon Energy 191 35.00 31.82 3.1810.06 SGIO (Shop) 192 600.00 545.45 54.5511.06 Smiths

Newsagency192 20.00 18.18 1.82

11.06 Greens Motors(New del. van)

194 10,000.00 10,000.00

15.06 John Jones(Casual Wages)

195 150.00 150.00

19.06 BP Garage 196 90.00 81.82 8.1822.06 XY Real Estate 197 50.00 45.46 4.5425.06 SGIO

(Insur. del. van)198 250.00 227.27 22.73

28.06 JB Fashion Ltd 199 400.00 363.64 36.3629.06 BC Furniture Co(Storage shelves)

200 600.00 545.45 54.55

30.06 Cash(Drawings MBF)

201 150.00 150.00


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.4 Bank Statement

ACCOUNT NOMr J Brown17 Hugh Street 98738 - 7823PACIFIC CITY QLD 4912

NAME OF ACCOUNT:

JOHN BROWN RETAIL CLOTHING COMPANY

Date Particulars Dr Cr Balance

20XX Brought Forward 40,000.00 CrJune 1 000189 200.00 39,800.00 Cr

2 000186 50.00 39,750.00 Cr2 F.T.D. 10.00 39,740.00 Cr2 000187 100.00 39,640.00 Cr2 Deposit 1,000.00 40,640.00 Cr2 000188 50.00 40,590.00 Cr4 000185 200.00 40,390.00 Cr4 Deposit 500.00 40,890.00 Cr5 Cheque Book 10.00 40,880.00 Cr8 000190 205.00 40,675.00 Cr

8 000194 10,000.00 30,675.00 Cr15 000192 600.00 30,075.00 Cr15 000193 20.00 30,055.00 Cr15 000191 35.00 30,020.00 Cr15 000199 400.00 29,620.00 Cr17 Deposit 50.00 29,670.00 Cr25 000198 250.00 29,420.00 Cr25 000197 50.00 29,370.00 Cr26 000196 90.00 29,280.00 Cr26 Deposit 270.00 29,550.00 Cr29 000195 150.00 29,400.00 Cr29 Deposit 450.00 29,850.00 Cr30 Deposit 20.00 29,870.00 Cr

July 1 Deposit 55.00 29,925.00 Cr2 000201 150.00 29,775.00 Cr


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.5 Exercise No 1 - Question

PREPARATION OF BANK RECONCILIATION STATEMENTJOHN BROWN RETAIL CLOTHING COMPANY

Can you please prepare the following:-

1. Cash Receipts Book -Addendum 002-061AAnswer -Addendum 002-061D

2. Cash Payment Book -Addendum 002-061BAnswer -Addendum 002-061E

3. Prepare Bank Reconciliation Statement -Addendum 002-061CAnswer -Addendum 002-061F


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EXERCISE NO. 2 - SMITHS MOTEL

.1 Cash Receipts Book Prior To Reconciliation

Cash Receipts (Bank Column Only) of Smiths Motel for March 20XX

Date ReceiptNo.

Particulars Bank

02.03.XX 19 Cash Sales 400.0003.03.XX 20 Debtor - J. Jones 440.0005.03.XX 21 Cash Sales 690.0007.03.XX 22 Cash Sales 615.0010.03.XX 23 Debtor - Jetset Travel 1,425.00

12.03.XX 24 Cash Sales 426.0014.03.XX 25 Cash Sales 333.0017.03.XX 26 Debtor - S Green 453.0017.03.XX 27 Cash Sales 510.0019.03.XX 28 Cash Sales 338.0021.03.XX 29 Debtor - R Smart 209.0024.03.XX 30 Cash Sales 927.0026.03.XX 31 Debtor - A Blue 425.0030.03.XX 32 Cash Sales 1,254.0031.03.XX 33 Cash Sales 739.00

TOTAL: $9,184.00

.2 Cash Payments Book - Prior To Reconciliation

Cash Payments (Bank Column only) of Smiths Motel for March 20XX

Date Ch.No. Particulars Bank

03.03.XX 350 Cash - Wages 685.0003.03.XX 351 Castlemaine Perkins 1,250.0010.03.XX 352 Cash - Wages 850.0010.03.XX 353 Fresha Eggs 130.0010.03.XX 354 Pacific Seafoods 937.0010.03.XX 355 Currey (Qld) 395.0017.03.XX 356 Cash - Wages 729.0017.03.XX 357 City Meats 1,255.0024.03.XX 358 Drawings - W Smith 468.0024.03.XX 359 Cash - Wages 427.0024.03.XX 360 Huggets 200.00

TOTAL: $7,326.00

.3 Previous Accounting Period Bank Reconciliation Statement

Cash Book Balance 31 January 20XX 2,500.00 Cr.Add Receipts 9,139.00


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11,639.00Less Payments 8,260.00Cash Book Balance 28th February 20XX $3,379.00 Cr

Bank Statement Balance 28 February 20XX 3,901.00 Cr.Add Deposits not yet credited 380.00

290.00 670.004,571.00

Less Unpresented Cheques No 329 197.00342 160.00346 185.00349 650.00 1,192.00

Reconciled Balance as at 28 February 20XX $3,379.00 Cr.

.4 Bank Statement

The following Bank Statement was received by Smiths Motel for March 20XX.Date Particulars Dr Cr Balance

Feb. 28 Balance B/F 3,901.00 CrMarch 3 Deposit 670.00 4,571.00 Cr

3 Deposit 840.00 5,411.00 Cr4 Cheque 185.00 5,226.00 Cr5 Deposit 690.00 5,916.00 Cr6 Cheque 350 685.00 5,231.00 Cr6 Cheque 351 1,250.00 3,981.00 Cr7 Deposit 615.00 4,596.00 Cr

10 Deposit 1,425.00 6,021.00 Cr10 Cheque 329 197.00 5,824.00 Cr11 Cheque 349 650.00 5,174.00 Cr

11 Cheque 352 850.00 4,324.00 Cr12 Deposit 426.00 4,750.00 Cr14 Cheque 354 937.00 3,813.00 Cr14 Deposit 333.00 4,146.00 Cr17 Payment by Authority 416.50 3,729.50 Cr17 Deposit 963.00 4,692.50 Cr18 Cheque 356 729.00 3,963.50 Cr19 Deposit 338.00 4,301.50 Cr21 Deposit 209.00 4,510.50 Cr24 Cheque 357 1,255.00 3,255.50 Cr24 Deposit 927.00 4,182.50 Cr26 Deposit 425.00 4,607.50 Cr27 Cheque 358 468.00 4,139.50 Cr

27 Federal Tax 32.60 4,106.90 Cr27 Interest on IBD 113.40 4,220.30 Cr

.5 Exercise No. 2 Question

Preparation of Bank Reconciliation Statement - Smiths Motel.Can you please prepare the following:-

1. Cash Receipts Book -Addendum 002-061GAnswer - Addendum 002-061J

2. Cash Payments Book -Addendum 002-061HAnswer - Addendum 002-061K


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ADDENDUM 002-061A

EXERCISE NO 1 - JOHN BROWN RETAIL CLOTHING COMPANY

002-061A Cash Receipts BookPrior To Reconciliation Exercises

JOHN BROWN RETAIL CLOTHING COMPANYCASH RECEIPTS BOOK

Date

Received

From

ReceiptNo.

Amount

$

Sales

$

Capital

C

ontributed

$

Sundry

$

GST

Payable

02.06.XX John Brown 1525 1,000.00 1,000.0004.06.XX Cash 1526 500.00 454.55 45.4516.06.XX SGIO 1527 50.00 45.45


insurance)

4.55

24.06.XX Cash 1528 70.00 63.63 6.3725.06.XX Cash 1529 200.00 181.81 18.1929.06.XX Winter Festival 1530 450.00 450.00

(Window displayprize)

30.06.XX John Brown 1531 20.00 20.00


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- ESS BIZTOOLS Pty Ltd - ACN: 078 451 439Paper 02.61 - Addendums

230903Page 12

ADDENDUM 002-061BBOOKKEEPING SYSTEMS - BANK RECONCILIATION STATEMENT EXERCISES

Exercise No 1 - John Brown Retail Clothing Company002-061B Cash Payments Book

Da

te

Payee

Chq.N

o.

Amoun

t

Purc

hases

Ren

t

R

epa

irs

&

Ma

int

In

surance

M.V.

E

xpenses

E

lec

tricity

F

ue

l&Oil

Pos

tage

&

Stationery

Cap

ita

l

Sun

dry

Inpu

tTax

Cre

dit

Yr XX01.06 A8 Clothing Co 187 100.00 90.91 9.0902.06 XY Real Estate 188 50.00 45.46 4.5404.06 A Electrician

(Rep. neon sign)189 200.00 181.82 18.18


190 205.00 186.36 18.64


Newsagency192 20.00 18.18 1.82


194 10000.00 10000.00


195 150.00 150.00

19.06 BP Garage 196 90.00 81.8

2

8.18

22.06 XY Real Estate 197 50.00 45.46 4.5425.06 SGIO

(Insur. Del. van)198 250.00 227.27 22.73

28.06 JB Fashion Ltd 199 400.00 363.64 36.3629.06 BC Furniture Co

(Store shelves)200 600.00 545.45 54.55


201 150.00 150.00


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ADDENDUM 002-061C

002-061C Bank Reconciliation Statement

Exercise No 1 - John Brown Retail Clothing Company

BANK RECONCILIATION STATEMENT AS AT


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ADDENDUM 002-061D

BANK RECONCILIATION STATEMENTS

SUGGESTED SOLUTION - EXERCISE NO 1 - JOHN BROWN RETAIL CLOTHING COMPANY

002-061D Completed Cash Receipts Book

Date

Received

From

ReceiptNo.

Amount

$ Sales

$ Capital

Contributed

$ Sundry

$ GST

Payable

02.06 John Brown 1525 1,000.00 1,000.0004.06 Cash 1526 500.00 454.55 45.4516.06 SGIO 1527 50.00 45.45


insurance)

4.55

24.06 Cash 1528 70.00 63.63 6.3725.06 Cash 1529 200.00 181.81 18.1929.06 Winter Festival 1530 450.00 450.00

(Window displayprize)

30.06 John Brown 1531 20.00 20.00

$2,290.00 $699.99 $1,020.00 $495.45 $74.56


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ADDENDUM 002-061EBANK RECONCILIATION STATEMENT EXERCISES

Exercise No 1 - John Brown Retail Clothing Company002-061E Completed Cash Payments Book

Date

Payee

C

hq.No.

A

mount

Purch.

Rent

Repairs&

Maint

Insurance

M.V.

Ex

penses

Electricity

Fu

el&Oil

P

ostage

&

Stationery

C

apital

S

undry

In

putTax

Credit

Yr XX01.06 A8 Clothing Co 187 100.00 90.91 9.0902.06 XY Real Estate 188 50.00 45.46 4.5404.06 A Electrician

(Rep. neon sign)189 200.00 181.82 18.18


190 205.00 186.36 18.64


Newsagency192 20.00 18.18 1.82


194 10000.00 10000.00


195 150.00 150.00

19.06 BP Garage 196 90.00 81.82 8.1822.06 XY Real Estate 197 50.00 45.46 4.5425.06 SGIO

(Insur. Del. van)198 250.00 227.27 22.73

28.06 JB Fashion Ltd 199 400.00 363.64 36.3629.06 BC Furniture Co

(Store shelves)200 600.00 545.45 54.55


201 150.00 150.00

02.06 FDT 10.00 10.00


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(Bank Charges)05.05 Cheque Book

(Cheque Book)10.00 10.00

$12920.00 $454.55 $90.92 $181.82 $545.45 $413.64 $31.82 $81.82 $18.18 $10545.45 $320.00 $236.36


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ADDENDUM 002-061F002-061F Bank Reconciliation Statement

BANK RECONCILIATION STATEMENTAS AT 30TH JUNE XXXX

JOHN BROWN RETAIL CLOTHING COMPANY

Cash Book Balance 31.5 39,750.00 CrAdd Receipts 2,290.00

42,040.00Less Payments 12,920.00Cash Book Balance 30.6 $29,120.00 Cr

Bank Statement Balance 30.6 29,870.00 CrLess Unpresented cheques 200 $600.00

201 $150.00 750.00Reconciled Balance as at 30.6 $29,120.00 Cr


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ADDENDUM 002-061GEXERCISE NO 2 - SMITH'S MOTEL

002-061G Cash Receipts Book

Cash Receipts (Bank Column) of Smiths Motel for March 20XX

Date ReceiptNo.

Particulars Bank

02.03 19 Cash Sales 400.0003.03 20 Debtor - J. Jones 440.0005.03 21 Cash Sales 690.0007.03 22 Cash Sales 615.0010.03 23 Debtor - Jetset Travel 1,425.0012.03 24 Cash Sales 426.00

14.03 25 Cash Sales 333.0017.03 26 Debtor - S Green 453.0017.03 27 Cash Sales 510.0019.03 28 Cash Sales 338.0021.03 29 Debtor - R Smart 209.0024.03 30 Cash Sales 927.0026.03 31 Debtor - A Blue 425.0030.03 32 Cash Sales 1,254.0031.03 33 Cash Sales 739.00

TOTAL: $9,184.00


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ADDENDUM 002-061HEXERCISE NO 2 - SMITH'S MOTEL

002-061H Cash Payment Book

Cash Payments (Bank Column only) of Smiths Motel for March 20XX


03.03 350 Cash - Wages 685.0003.03 351 Castlemaine Perkins 1,250.0010.03 352 Cash - Wages 850.0010.03 353 Fresha Eggs 130.0010.03 354 Pacific Seafoods 937.0010.03 355 Currey (Qld) 395.0017.03 356 Cash - Wages 729.0017.03 357 City Meats 1,255.00

24.03 358 Drawings - W Smith 468.0024.03 359 Cash - Wages 427.0024.03 360 Huggets 200.00

TOTAL: $7,326.00


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ADDENDUM 002-061I

EXERCISE NO 2 - SMITH'S MOTEL

002-061I Bank Reconciliation Statement

as at 31 March 20XX

Cash book balance 28th February 20XXAdd Receipts

Less Payments

Cash Book Balance 31st March 20XX

Bank Statement Balance 31 March 20XX

Add Deposits not yet credited

Less Unpresented Cheques

Reconciled Balance as at 31 March 20XX


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ADDENDUM 002-061JSUGGESTED SOLUTION - EXERCISE NO 2 - SMITH'S MOTEL

002-061J Completed Cash Receipts Book

Cash Receipts (Bank Column Only) of Smiths Motel for March 20XX

Date ReceiptNo.

Particulars Bank

02.03 19 Cash Sales 400.0003.03 20 Debtor - J. Jones 440.0005.03 21 Cash Sales 690.0007.03 22 Cash Sales 615.0010.03 23 Debtor - Jetset Travel 1,425.0012.03 24 Cash Sales 426.00

14.03 25 Cash Sales 333.0017.03 26 Debtor - S Green 453.0017.03 27 Cash Sales 510.0019.03 28 Cash Sales 338.0021.03 29 Debtor - R Smart 209.0024.03 30 Cash Sales 927.0026.03 31 Debtor - A Blue 425.0030.03 32 Cash Sales 1,254.0031.03 33 Cash Sales 739.0027.03 BS Interest on I.B.D. 113.40

TOTAL: $9,297.40


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ADDENDUM 002-061K

002-061K Completed Cash Payments Book


03.03 350 Cash - Wages 685.0003.03 351 Castlemaine Perkins 1,250.0010.03 352 Cash - Wages 850.0010.03 353 Fresha Eggs 130.0010.03 354 Pacific Seafoods 937.0010.03 355 Currey (Qld) 395.0017.03 356 Cash - Wages 729.0017.03 357 City Meats 1,255.0024.03 358 Drawings - W Smith 468.0024.03 359 Cash - Wages 427.00

24.03 360 Huggets 200.0027.03 BS Payment by Authority (Motor Vehicle

Lease)416.50

27.03 BS Bank Charges 32.60

TOTAL: $7,775.10


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ADDENDUM 002-061L

002-061L Bank Reconciliation Exercise

BANK RECONCILIATION OF SMITHS MOTELAS AT 31ST MARCH 20XX

Cash Book Balance 28 February 20XX 3,379.00 CrAdd Receipts 9,297.40

12,676.40Less Payments 7,775.10Cash Book Balance 31 March 20XX $4,901.30 Cr

Bank Statement Balance 31 March 20XX 4,220.30 CrAdd Deposits not yet credited

30/3/XX Rec. 32 1,254.00

31/3/XX Rec 33 739.00 1,993.006,213.00

Less Unpresented Cheques 342 160.00353 130.00355 395.00359 427.00360 200.00 1,312.00

Reconciled Balance as at 31 March 20XX $4,901.30 Cr


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AN IMPORTANT MESSAGE

The forms and commentaries contained in this paper are provided as a guide only and should not form thesole basis for any advice in relation to the particular situation of any person without first obtaining properprofessional advice.

This paper is provided on the understanding that ESS BIZTOOLS Pty Ltd (ACN: 078 451 439) will not beresponsible as a result of any use made by users hereof of the forms or commentaries of this paperwithout first obtaining specific professional advice. Neither shall ESS BIZTOOLS Pty Ltd be responsiblefor any errors or omissions contained in these papers. ESS BIZTOOLS Pty Ltd expressly disclaimsliability whether under contract or negligence and whether to a direct purchaser of these papers or to anyother person who may borrow or use them in respect of any loss or damage flowing therefrom whether

direct or consequential. In particular and without limiting the extent of this disclaimer ESS BIZTOOLS PtyLtd accepts no liability if any form or commentary contained herein, whether used in its original form oraltered in some way by the user, proves not to be valid or not to attain the end result desired by the user.This exclusion shall extend both to the user and to any client of the user who may suffer loss as a result ofthe use of these papers and it shall apply even though ESS BIZTOOLS Pty Ltd may have been negligentin the publication or preparation of these papers. The user acknowledges that it has not made known toESS BIZTOOLS Pty Ltd any particular purpose for which these papers are required and that it has notrelied on ESS BIZTOOLS Pty Ltd's skill or judgement to provide a paper suitable for any such purpose.

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Business Basics 1.031