Bank Reconciliations

1
Bank Reconciliations 2021 DBE
QUESTION 1: BANK RECONCILIATIONS

BANK RECONCILIATION
The following information relates to Montso Stores for March 2020.
REQUIRED:
1.1 Update the Cash Journals for March 2020 by taking into account entries on the
bank statement. Start with the provisional totals in B . (17)
1.2 Prepare the Bank Account on 31 March 2020. (7)
1.3 Prepare the Bank Reconciliation Statement for March 2020. (5)
INFORMATION:
A. The balance in the Bank Account in the General Ledger on 1 March 2020
was R12 340 (favourable)
B. Cash Journals for March 2020 (before checking the bank statement)
CASH RECEIPT JOURNAL – MONTSO STORES – MARCH 2020
Doc Day Details Analysis of Bank Sales Cost of Amount Details
analyses sales
Rec 1 1 Montso 58 960 58 960 58 960 Capital
Crr 1 7 Cash 18 000 18 000 18 000 12 000
Crr 2 14 Cash 15 000 15 000 15 000 10 000
Crr 3 21 Cash 6 000 6 000 6 000 4 000
Crr 4 28 Cash 21 000 21 000 21 000 14 000
118 960 60 000 40 000 58 960
CASH PAYMENT JOURNAL – MONTSO STORES – MARCH 2020

Doc Day Details Bank Trading Stationery Consuma- Amount Details
stock ble stores
EFT1 1 AA Stores 10 000 6 000 4 000
EFT2 2 BB Traders 2 500 2 500
EFT3 8 CC Stores 5 000 2 700 2 300
EFT4 17 DD Suppliers 7 000 7 000 Repairs
EFT5 21 EE Stores 3 500 3 500
EFT6 30 QQ Stores 12 400 12 400
40 400 24 600 6 300 2 500 7 000
C. BANK STATEMENT – MONA BANK

DETAILS DATE AMOUNT BALANCE
Balance 01/03/2020 12 340
Cash deposit 02/03/2020 58 960 +
EFT 1 03/03/2020 10 000 –
EFT 2 04/03/2020 2 500 –
Cash handling Fees 08/03/2020 25 –
Cash deposit 09/03/2020 18 000 +
EFT 3 10/03/2020 5 000 –
Direct deposit – P..Piet 11/03/2020 8 500 +
Cash deposit 15/03/2020 15 000 +
EFT 4 22/03/2020 7 000 –
Cash deposit 22/03/2020 6 000 +
Debit order – Fast Insurers 20/03/2020 4 400 –
EFT 5 29/03/2020 3 500 –
Interest on credit balance 28/03/2020 96 +
Service Fees 30/03/2020 180
Debit order – Parys Municipality 31/03/2020 4 150 –
EFT charges 31/03/2020 225 – 81 916 +
Additional information:
 The deposit of R8 500 on the 11 March was for rent income.
 The debit order on 20 March was for the business insurance.
 The debit order on 31 March to Parys Municipality is for water and electricity.
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Bank reconciliations 2021 DBE

BANK RECONCILIATION
The following information relates to Daddy Stores for March 2020.
REQUIRED:
2.1 Update the Cash Journals for March 2020 by taking into account entries
on the bank statement. Start from the provisional totals given. (20)
2.2 Prepare the Bank Account on 31 March 2020. Note that the Bank
account on 1 March 2020 reflected a debit balance of R21 300 (6)
INFORMATION:
A. Cash Journals for March 2020
CASH RECEIPT JOURNAL – DADDY STORES – MARCH 2020
Doc Day Details Analysis of Bank Sales Cost of Amount Details
analyses sales
Rec 1 1 Daddy 50 000 50 000 50 000 Capital
Crr 1 8 Cash 21 000 21 000 21 000 14 000
Crr 2 15 Cash 15 000 15 000 15 000 10 000
Crr 3 22 Cash 12 000 12 000 12 000 8 000
Crr 4 28 Cash 18 000 18 000 18 000 12 000
116 000 66 000 44 000 50 000
CASH PAYMENT JOURNAL – DADDY STORES – MARCH 2020

stock ble stores
EFT1 1 AB Stores 11 000 7 000 4 000
EFT2 2 Jim Traders 2 500 2 000 500 Equipment
EFT3 8 CC Stores 3 600 2 500 1 100
EFT4 11 XX Traders 4 800 4 000 800
EFT5 17 San Suppliers 5 200 5 200 Repairs
EFT6 21 LL Stores 1 900 1 900 1 900
EFT7 22 WW Stores 3 600 3 600
EFT8 29 Dan Traders 20 100 20 100
EFT9 30 QQ Stores 2 000 2 000
54 700 15 500 27 100 6 400 5 700
B. BANK STATEMENT – DISA BANK

DETAILS DATE AMOUNT BALANCE
Balance R 21 300 +
Cash deposit 02/03/2020 50 000 + 71 300 +
EFT 1 03/03/2020 11 000 – 60 300 +
EFT 2 04/03/2020 2 500 – 57 800 +
Cash handling Fees 08/03/2020 125 – 57 675 +
Cash deposit 09/03/2020 21 000 + 78 675 +
EFT 3 10/03/2020 3 600 – 75 075 +
Direct deposit - M. Mashiane 11/03/2020 7 500 + 82 575 +
EFT 4 12/03/2020 4 800 – 77 775 +
Cash deposit 15/03/2020 15 000 + 92 775 +
EFT 5 17/03/2020 5 200 – 87 575 +
Debit order – Quick Insurers 20/03/2020 3 900 – 83 675 +
EFT 6 22/03/2020 1 900 – 81 775 +
Cash deposit 22/03/2020 12 000 + 93 775 +
EFT 7 24/03/2020 3 600 – 90 175 +
Direct deposit – D. Dlamini 25/03/2020 1 250 + 91 425 +
Interest on credit balance 28/03/2020 75 + 91 500 +
EFT 8 29/03/2020 20 100 – 71 400 +
Cash deposit 29/03/2022 18 600 + 90 000 +
Service fees 30/03/2020 212 – 89 788 +
Debit order – Town Council 31/03/2020 3 600 – 86 188 +
EFT charges 31/03/2020 388 – 85 800 +
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Additional information:
 The deposit on the 11 March 2020 was the monthly rent.

 The debit order on 20 March was the monthly insurance premium.
 The direct deposit on 25 March was received from debtor D. Dlamini to settle
his account.
 The direct deposit on 29 March was wrongly deposit into the business account.
The bank will rectify this on the next statement.
 The debit order on 31 March to the Town Council was for water and electricity.
QUESTION 3
BANK RECONCILIATION
The information is from the records of CD Stores for January 2021.
REQUIRED:
3.1 Update the cash journals by comparing the journals to the bank (22)
statement given. Start the journals with the totals provided.
3.2 Prepare the Bank Account on 31 January 2021. (6)
3.3 Prepare the Bank Reconciliation Statement on 31 January 2021. (8)
INFORMATION:
A. The balance of the bank account on 1 January 2021 – R25 210 (Dr.)
B. CASH RECEIPTS JOURNAL – CD STORES – JANUARY 2021

Doc Day Details Analysis Bank Sales Cost of Amount Details
of sales
receipts
R 13 3 C. Janeke 12 000 12 000 12 000 Capital
R 14 12 P. Pretorius 1 650 1 650 1 650 Donation
CRR 24 18 Sales 7 670 7 670 7 670 6 136
CRR 25 25 Sales 5 660 5 660 5 660 4 528
CRR 26 30 Sales 4 600 4 600 4 600 3 680
31 580 17 930 14 344 13 650
CASH PAYMENTS JOURNAL – CD STORES – JANUARY 2021

stock ble stores
EFT 10 6 PNA 1 500 1 500
EFT 11 7 JJ Traders 2 430 2 430
EFT 12 13 JJ Traders 3 600 3 600
EFT 13 16 QQ Stores 4 370 4 370 Equipment
EFT 14 19 Caltex 3 460 3 460 Vehicle
expenses
EFT 15 23 Overland 1 330 1 330
EFT 16 24 KS Traders 2 569 2 569 Creditors’
Control
EFT 17 25 PNA 540 540
EFT 18 30 JJ Traders 3 550 3 550
23 349 9 580 2 040 1 330 10 399

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C. Bank Statement for January 2021:

BIG BANK
DETAILS DATE DEBIT CREDIT BALANCE
Balance 01/01/2021 25 210 CR
Cash deposit 03/01/2021 12 000
EFT 10 06/01/2021 1 500
EFT 11 07/01/2021 2 430
Cash handling fees 09/01/2021 200
Cash deposit 12/01/2021 1 650
EFT 12 13/01/2021 3 600
Interest on overdraft 14/01/2021 640
Direct deposit – T. Rogers 15/01/2021 4 500
EFT 13 16/01/2021 4 370
Cash deposit 18/01/2021 7 670
EFT 14 19/01/2021 3 460
Debit order – ST Insurance 20/01/2021 2 340
Deposit – BB Investments 21/01/2021 21 000
EFT 15 23/01/2021 1 330
EFT 16 24/01/2021 2 569
Direct deposit – C. Charlie 24/01/2021 2 500
Interest on credit balance 24/01/2021 340
EFT 17 25/01/2021 540
Cash deposit 25/01/2021 5 660
Service fees 26/01/2021 75
Debit order – Nala Municipality 26/01/2021 4 660
Direct deposit – student loan 26/01/2021 3 700
EFT charges 26/01/2021 250 ?
B. Additional information:
 The bank has incorrectly debited the business account with interest, on the
14 January. They will rectify this error on the next statement.
 The direct deposit on 15 January was from the tenant T. Rogers.
 The debit order on 20 January is the monthly insurance premium.
 The deposit on 21 January was a fixed deposit of R20 000 that matured.
 The direct deposit on 24 January for R2 500 was from debtor C. Charlie in
settlement of his account of R2 650.
 The direct deposit on 26 January for R3 700 was wrongly credited to the
business account. The bank will correct this on the next statement.
 The debit order to Nala Municipilaty was for water and electricity. R3 000
was for the business and the balance is for the owner’s private quarters on
the property.
C. The bank statement reflects transactions up to the 26 January 2021.
D. The balance of the bank statement is the balancing figure.

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The following information relates to Jenny Stores for March 2020.
REQUIRED:
4.1 Complete the Cash Receipt Journal and Cash Payment Journal for
March 2020. (23)
INFORMATION:
A. On 1 March 2020, the Bank Account in the General Ledger reflected a

debit balance of R11 300.
B. Provisional totals from the Cash Journals on 31 March 2020:
 Cash Receipt Journal, R66 000
 Cash Payment Journals, R58 500
C. The following information on the March 2020 Bank Statement received
from HL Bank did not appear in the March 2020 Cash Journals:
 A deposit from D. Dawie, R9 600 for his monthly rent.

 Debit orders:
Town Council R4 890 Water and electricity
Best Insurers R5 300 Insurance
ABBA Bank R4 500 Repayment of loan
 EFT Fees, R145
 Cash handling fee, R122
 Service Fees, R444
 Interest on favourable balance, R85
 A deposit from debtor K. Nokanda for R6 700 in settlement of his
account.
 An EFT for R5 555 was reflected on the business Bank Statement.
This payment does not relate to the business and must be
corrected by the bank.
D. The following information in the March 2020 Cash Journals did not
appear on the Bank Statement for March 2020:
 Outstanding deposit, R21 700

 EFT 222 for R7 220 to DD Traders for trading stock purchased.
 EFT 223 for R2 896 to CC Stores for stationery purchased.
E. Balance according to the Bank Statement on 31 March 2020 is R?.

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The following information relates to Dawie Traders for March 2021.
REQUIRED:
5.1 Complete the Cash Receipt Journal and Cash Payment Journal for
March 2021. (24)
INFORMATION:
A. On 1 March 2021, the Bank Account in the General Ledger reflected

an unfavourable balance of R15 200.

C. The following information on the March 2021 Bank Statement received

from BR Bank did not appear in the March 2021 Cash Journals:
 Debit orders:
Nala Municipality R1 500 Water and electricity
Virseker R6 000 Insurance premium; R1 500 is
for the private residence of the
owner.
AG Investments R10 200 Investment that matured,
including interest for the year
at 13⅓ %.
 EFT Fees, R160

 Interest on unfavourable balance, R120
 A deposit from debtor P. Jacobs for R4 500 in settlement of his
account.
 The bookkeeper forgot to enter the EFT to Naude Enterprises,
R9 600 for the monthly rent
 A deposit of R8 000 was reflected on the business Bank Statement.
This deposit does not relate to the business and must be corrected
by the bank.

7

 EFT 120 for R9 220 to GF Stores for consumables purchased.
 EFT 125 for R4 790 to AR Traders for stationery purchased.
E. Balance according to the Bank Statement on 31 March 2021 is R?.
6.1 State whether the following statements true or false is. Write only true or false
next to the question number.
6.1.1 Bank charges is a form of EFT.
6.1.2 A debit balance on the bank statement is a positive balance.
6.1.3 Interest credited on the bank statement is recorded in the Cash

Receipts Journal. (3)
6.2 BANK RECONCILIATION
The following information relates to Mariaan Stores for March 2020.
REQUIRED:
6.2.1 Complete the Cash Receipt Journal and Cash Payment Journal for
March 2020. (29)
6.2.2 Prepare the Bank Account on 31 March 2020. (6)
6.2.3 Prepare the Bank Reconciliation Statement on 31 March 2020. (7)

INFORMATION:
A. Extract from the Bank Reconciliation statement on 29 February 2020:
Outstanding deposits: 18 February 2020 R 15 900

28 February 2020 23 000
Outstanding EFT:
No. 123 5 700
Favourable balance as per Bank account 11 400
NOTE:
 The outstanding deposit of R15 900 appeared on the March 2020
bank statement.

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 The outstanding deposit of R23 000 on the Bank Reconciliation

Statement was in respect of sales. It was reflected as R18 000 in
the March Bank statement. After an investigation, it was decided to
write-off the missing R5 000.
 EFT 123 appeared on the Bank Statement for March 2020.

C. The following information on the March 2020 Bank Statement did not
appear in the March 2020 Cash Journals:
EXTRACT: BANK STATEMENT – WW BANK

DETAILS AMOUNT
Debit order Town Council - Water and electricity R3 200
Cash handling Fees 444
EFT costs 113
Deposit: W. Western: Rent 8 300
Direct deposit: Loan repayment 19 000
EFT – payment BB Traders 5 900
B. Bennie 2 750
Service fees 555
Interest on a positive current account balance 232
Boabab Insurers 6 600
D. Additional information
 W. Western made a direct deposited for his monthly rent.
 The EFT for R5 900 to creditor BB Traders was omitted in the
journals, in error.
 A deposit of R19 000 reflected on the business Bank Statement,
is a bank error. They will rectify this on the next statement
 A deposit from debtor B. Bennie was a part payment of his
account.
 The debit order to Boabab Insurers includes R1 500 for the
owner’s private vehicle.
E. The following information in the March 2020 Cash Journals did not

 EFT 222 for R6 600 to XY Stores for trading stock purchased.

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7.1 State whether the following statements are true or false. Write only TRUE or
FALSE next to the question number.
7.1.1 Costs charged in respect of EFT’s do not form part of Bank charges.
7.1.2 A credit balance on the bank statement reflects a positive balance.
7.1.3 Interest debited on the bank statement will be recorded in the Cash
Receipts Journal. (3)
7.2 BANK RECONCILIATION
The following information relates to Real Madrid Stores for February 2021.
REQUIRED:
7.2.1 Complete the Cash Receipt Journal and Cash Payment Journal for
February 2021. (29)
7.2.2 Prepare the Bank Account on 28 February 2021. (6)
7.2.3 Prepare the Bank Reconciliation Statement for February 2021. (7)
INFORMATION:
A. Extract from the Bank Reconciliation statement on 31 January 2021:
Outstanding deposits: 10 January 2021 R 11 800
28 January 2021 26 000
Outstanding EFT:
No. 100 3 900
NOTE:
 The outstanding deposit of R11 800 appeared on the February
2021 bank statement.

Statement was in respect of fee income for services rendered. It
was reflected as R20 000 in the February Bank statement. After an
investigation, it was decided to write-off the missing R6 000.
 EFT 100 appeared on the Bank Statement for February 2021.
B. Provisional totals from the Cash Journals on 28 February 2021:


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C. The following information on the February 2021 Bank Statement did

not appear in the February 2021 Cash Journals:
EXTRACT: BANK STATEMENT – MW BANK

DETAILS AMOUNT
Debit order Municipality – Rates and Taxes R2 800
Deposit: Services 18 800
Deposit: L. Lopez 7 100
EFT Charges 115
EFT – payment Benzema Traders 6 200
L. Canizares 2 750
Service fees 620
Interest on a positive current account balance 230
Hazard Insurers 8 000
D. Additional information
 An EFT payment to Benzema Traders in settlement of our

account of R6 200, was not recorded.
 The debit order to Hazard Insurers includes R2 300 for the
insurance of the owner’s private resident.
 A direct deposit of R18 800 was wrongly reflected on the Bank
Statement of the business. The bank will rectify the error.
 The direct deposit from L. Canizares was a partial payment of
his account. A discount of R250 was allowed
 The deposit from L. Lopez. Is for the monthly rent.
E. The following information in the February 2021 Cash Journals did not
appear on the Bank Statement for February 2021:

 EFT 111 for R10 000 to Ramos Stores for equipment purchased.

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The following information relates to Ketsi Traders for April 2020.
REQUIRED:
8.1 Complete the Cash Journals for April 2020. (28)
8.2 Prepare the Bank Account on 30 April 2020. (6)
8.3 Prepare the Bank Reconciliation Statement for April 2020. (9)
INFORMATION:
A. Extract from the Bank Reconciliation statement on 31 March 2020
Outstanding deposits: 19 March 2020 R 23 600

25 March 2020 15 000
Outstanding EFT: No. 144 15 700
Unfavourable balance as per Bank account 2 345
Refer to the extract above:

 The outstanding deposit of R23 600 appeared on the April 2020
bank statement.
 The outstanding deposit of R15 000 in respect of sales, did not
appear on the April 2020 Bank Statement. It was decided to write-
off this amount, as the money would not be recovered.
 EFT 144 appeared on the Bank Statement for April 2020.
B. Provisional totals from the Cash Journals on 30 April 2020:
C. The following information on the April 2020 Bank Statement from
HL Bank did not appear in the April 2020 Cash Journals:
 Debit orders:
Town Council R4 890 Water and electricity
Easy Insurers R7 000 R5 300 is for the business
vehicles and the balance is for
the owner’s car
ABBA Bank R3 500 Repayment of loan
 EFT Fees, R211
 Interest on bank overdraft, R123

12
 A deposit from K. Marais for R4 900 for settlement of his account.

 A deposit from D. Dawie for R9 600 for his monthly rent.
 EFT 111 (payment) for R3 333, reflected on the bank statement,
was not a transaction of the business. The bank will rectify the
error.
 Another bank error of R13 600 was reflected as a cash deposit
on the statement. The bank will rectify the error.
E. The following information in the April 2020 Cash Journals did not
appear on the Bank Statement for April 2020:

 EFT 564 for R4 655 to BB Suppliers for stationery purchased.
The information was extracted from the records of Hilton Traders for June 2020.
REQUIRED:
9.1 Complete the Cash Journals for June 2020. (31)
9.2 Prepare the Bank Account on 30 June 2020. (6)
9.3 Prepare the Bank Reconciliation Statement on 30 June 2020. (9)
9.4 Provide TWO suggestions that the business can use to prevent a situation
like the one experience on 26 May 2020 in the future. (4)
9.5 Identify the problem that is revealed by the previous reconciliation, and list
TWO internal control measures to solve this problem. (5)
9.6 Refer to the debit order for R2 244. Provide a possible explanation how this
may have occured, and provide advise on how this can be rectified. (4)
INFORMATION:
A. Extract from the Bank Reconciliation statement on 31 May 2020:
Outstanding deposits: 17 May 2020 R32 100

26 May 2020 7 300
Unfavourable balance as per bank account 3 456

13
NOTE:
 The outstanding deposit of R32 100 appeared on the June 2020
bank statement.
 The outstanding deposit on the 26 May 2020 was reflected as
R5 700 on the April statement. Upon enquiry, the bank
confirmed that it was because of counterfeit notes included in the
total deposit. This was cash received for repair services
rendered. It was decided to write-off this difference.
EFT 123 appeared on the Bank Statement for June 2020.
B. Provisional totals from the Cash Journals on 30 June 2020:

 Cash Payment Journal, R67 400
C. The following information on the June 2020 Bank Statement from

XXZ Bank did not appear in the June 2020 Cash Journals:
 Debit orders:
Pro Insurers R5 890 Monthly insurance premium

Matjhabeng R6 000 R4 500 is for the business’ rates
Metro and taxes and the balance is for the
owner’s private property.
YEN Bank R5 300 Monthly repayment of loan
 EFT Fees, R189
 Interest on bank overdraft, R317
 A deposit from P. Nel, R11 600 for his monthly rent.
 A debit order for R2 244 appeared on the business bank
statement, on 29 April 2020. This was not an account of the
business and fortunately, the owner was able to instruct the bank
to cancel this entry. This reversal will be reflected on the next
statement.
 A direct deposit of R16 300 was wrongly reflected on the business
Bank Statement. The bank will rectify the error.
 A deposit from N. Botha for R3 400 in settlement of his account
of R3 500.
E. The following information in the June 2020 Cash Journals did not
appear on the Bank Statement for June 2020:
 EFT 654 for R5 555 to BP Suppliers for sanitizing supplies
purchased.

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QUESTION 10
The following information relates to VDM Handelaars for February 2020.
REQUIRED:
10.1 Complete the Cash Journals for February 2020. (31)
10.2 Prepare the Bank Account on 29 February 2020. (6)

10.3 Prepare the Bank Reconciliation Statement for February 2020. (8)
INFORMATION:
A. Extract from the Bank Reconciliation Statement on 31 January

2020:
Outstanding deposits: 21 January 2020 R62 420

30 January 2020 24 210
No. 142 16 222
Note:

Statement was in respect of sales. It did not appear on the Bank
Statement for February. An investigation revealed that the
bookkeeper never deposited the money. He used the money to
pay for his daughters hospital costs. The bookkeeper resigned
and cannot be found. It was decided to write-off this amount.
 The outstanding deposit of R24 210 appeared on the Bank
Statement for February 2020.
 EFTs 121 and 142 appeared on the bank statement
B. Provisional totals from the Cash Journals on 29 February 2020:
 Cash Receipts Journal, R64 811
 Cash Payments Journal, R53 991
C. The following information on the February 2020 Bank Statement from
PA Bank did not appear in the February Cash Journals:
 A deposit of R54 000 from PX Bank being a fixed deposit of
R52 000 that matured, together with the interest.
 A deposit of R18 200 from S. Bester for her mothly rent.
 EFT Fees, R543
 Cash handling fees, R94
 Service fees, R253
 Interest credited to the bank account, R108

15
 Debit orders:
ML Insurers R8 400 R6 200 is for the business vehicles,
and the balance is for the owner’s
vehicle.
CM Bank R4 300 Instalment on loan
City Council R56 230 Water and electricity
 EFT 211 for R2 631 in favour of Choppie Motors was recorded in

the CPJ. The bank however, debited this EFT twice on the bank
statement. This will be rectified on the next statement.
E. The following information in the February 2020 Cash Journals did not
appear on the Bank Statment for February 2020:
 EFT 323 for R6 361 paid to Q’s for equipment purchased.

 Outstanding deposit on 25 February 2020, R13 820
 Outstanding deposit on 28 February 2020, R?
 The Bank Statement showed a credit balance of R392 650 on
29 February 2020
QUESTION 11
The following information relates to Jane Stores for March 2020.
REQUIRED:
11.1 Calculate the correct Bank Account balance on 31 March 2020.
You may use the ledger format. (16)
11.2 Prepare the Bank Reconciliation Statement on 31 March 2020. (9)
11.3 An investigation revealed that the deposit of R6 000 was missing. Since this
amount could not be recovered, it was decided that it should be written off.
(a) State the GAAP principle that applies to this decision (1)
(b) Provide TWO internal control measure that Jane can use to prevent
such a loss in future.
(4)
INFORMATION:
A. Extract from the Bank Reconciliation statement on 29 February
2020:
Outstanding deposits: 26 February 2020 R17 300
28 February 2020 14 000
Favourable balance as per bank account 7 500

16
NOTE:
 The outstanding deposit of R17 300 appeared on the March
2020 bank statement.
 The outstanding deposit on 28 February 2020 appeared on the

bank statement but as R8 000. After investigation it came to light
that the bookkeeper disappeared with the money. It was decided
to write off this amount decided to write this amount off as it could
not be recovered.
 EFT 134 appeared on the Bank Statement for March 2020, with
the correct amount of R6 700.
C. The following information on the March 2020 Bank Statement did
not appear in the March 2020 Cash Journals:
EXTRACT: BANK STATEMENT – ZZ BANK

DETAILS AMOUNT
Debit order: Town Council R1 450
EFT – payment DD Traders 5 350
L. Andrews 2 850
Deposit: Fixed Deposit 6 400
EFT costs 440
L. Kabi 9 300
Service fees 210
Service fees 210
Interest on credit balance 120
Additional information
 The bookkeeper forgot to enter the EFT to DD Traders in the
journal. This was made in settlement of our account of R6 800.
 The direct deposit from debtor L. Andrews was an account
payment.
 The deposit of R6 400 does not relate to the business. This
bank error will be rectified on the next statement.
 The deposit by L. Kabi was the monthly rent income.
 The bank informed the business that service fees was
duplicated on the statement, in error. This will be rectified on
the next statement.
 EFT 333 for R6 500 for a payment of a creditor, WW Stores.
17

Bank Reconciliations

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1

Bank Reconciliations 2021 DBE

QUESTION 1: BANK RECONCILIATIONS

CASH PAYMENT JOURNAL – MONTSO STORES – MARCH 2020

C. BANK STATEMENT – MONA BANK

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QUESTION 2: BANK RECONCILIATIONS

CASH PAYMENT JOURNAL – DADDY STORES – MARCH 2020

B. BANK STATEMENT – DISA BANK

 The deposit on the 11 March 2020 was the monthly rent.

B. CASH RECEIPTS JOURNAL – CD STORES – JANUARY 2021

CASH PAYMENTS JOURNAL – CD STORES – JANUARY 2021

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C. Bank Statement for January 2021:

C. The bank statement reflects transactions up to the 26 January 2021.

D. The balance of the bank statement is the balancing figure.

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QUESTION 4: BANK RECONCILIATIONS

A. On 1 March 2020, the Bank Account in the General Ledger reflected a

 A deposit from D. Dawie, R9 600 for his monthly rent.

 Outstanding deposit, R21 700

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QUESTION 5: BANK RECONCILIATIONS

The following information relates to Dawie Traders for March 2021.

5.2 Prepare the Bank Account on 31 March 2021. (6)

A. On 1 March 2021, the Bank Account in the General Ledger reflected

B. Provisional totals from the Cash Journals on 31 March 2021:

C. The following information on the March 2021 Bank Statement received

 EFT Fees, R160

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 Outstanding deposit, R23 400

E. Balance according to the Bank Statement on 31 March 2021 is R?.

QUESTION 6: BANK RECONCILIATIONS

6.1.1 Bank charges is a form of EFT.

6.1.2 A debit balance on the bank statement is a positive balance.

6.1.3 Interest credited on the bank statement is recorded in the Cash

6.2 BANK RECONCILIATION

The following information relates to Mariaan Stores for March 2020.

6.2.2 Prepare the Bank Account on 31 March 2020. (6)

6.2.3 Prepare the Bank Reconciliation Statement on 31 March 2020. (7)

A. Extract from the Bank Reconciliation statement on 29 February 2020:

Outstanding deposits: 18 February 2020 R 15 900

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 The outstanding deposit of R23 000 on the Bank Reconciliation

 EFT 123 appeared on the Bank Statement for March 2020.

B. Provisional totals from the Cash Journals on 31 March 2020:

EXTRACT: BANK STATEMENT – WW BANK

 Outstanding deposit, R17 400

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QUESTION 7: BANK RECONCILIATIONS

 The outstanding deposit of R26 000 on the Bank Reconciliation

 EFT 100 appeared on the Bank Statement for February 2021.

B. Provisional totals from the Cash Journals on 28 February 2021:

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C. The following information on the February 2021 Bank Statement did

EXTRACT: BANK STATEMENT – MW BANK

 An EFT payment to Benzema Traders in settlement of our

 Outstanding deposit, R18 500