Accounting 9706 · AS & A Level · Reconciliation and verification
Reconciliation and verification — practice question
Jacques operates as a sole trader. On 31 January 2019, the bank statement showed a debit balance of $1875. This was different from Jacques’s cash book balance of $4327 credit.
(a)[5]
Prepare the revised cash book as at 31 January 2019. Dates are unnecessary.
(b)[4]
Prepare a bank reconciliation statement for 31 January 2019.
(c)[2]
State two reasons a business might prepare a bank reconciliation statement.
(d)[4]
Prepare a statement showing the revised profit for the year ended 31 January 2019 after making the adjustments for items 1, 2 and 3.
Worked solution & mark scheme
This 15-mark question has a full step-by-step worked solution and mark scheme.