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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › bank reconciliation
Mauritz Co is preparing a bank reconciliation. The bank balance in the general ledger is $540
credit. There are two items that have not yet been dealt with.
1 A cheque for $620 was sent to a supplier but is not yet showing on the bank statement.
2 A bank charge of $28 was charged by the bank, but was not recorded by Mauritz Co.
What is the closing balance on Mauritz Co’s bank statement?
A $1,132 overdrawn
B $1,188 overdrawn
C $52 cash at bank
D $108 cash at bank
Hello,Sir
the correct answer has been taken C but l consider this is not correct
firstly,if the bank balance in the general ledger is shown 540 then it is overdrawn
and if l keep in mind 620 and 28 $
then the answer should be taken B(1188 overdrawn)
please,clarify this for me
thanks in advance.
C is the correct answer.
The question asks for the balance on the bank statement. The bank statement will not include the 620 payment, but will include the 28 bank charge.