Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A business was given the bank statement for 30 June 2016, which showed a credit balance of $6890. On this date, the cash book showed a debit balance of $7234. The following items were found. • Bank charges of $54 had not been recorded in the cash book. • Cheques of $200 drawn by suppliers had not yet been banked. • Deposits amounting to $490 paid into the bank on 30 June 2016 did not appear on the bank statement. What is the bank balance in the statement of financial position?

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

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