Correct bank balance per the cash book (video below)
The following bank reconciliation statement has been prepared by a trainee accountant:
| $ | |
| Overdraft per bank statement | 965 |
| Less: unpresented cheques | 2,290 |
| 1,325 | |
| Add: deposits credited after date | 4,173 |
| Cash at bank as calculated above | 5,498 |
What should be the correct balance per the cash book?
Answer
| $ | |
| Overdraft | (965) |
| Unpresented cheques | (2,290) |
| (3,255) | |
| Outstanding lodgements | 4,173 |
| Cash at bank | 918 |