Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A company was given its bank statement dated 30 June, which showed a credit balance of $6890$. On that date, the cash book showed a debit balance of $7234$. The following matters were identified: (1) bank charges of $54$ had not been recorded in the cash book; (2) lodgements sent to the bank on 30 June for $490$ did not appear on the bank statement; (3) suppliers had not yet banked cheques for $200$. Which amount should be shown for bank in the statement of financial position at 30 June?

  • A$6600$
  • B$6654$
  • C$7126$
  • D$7180$

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