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July 25, 2020 at 4:38 pm
Kindly provide me the answer to the following question: Mr. A, a farmer, is into eggs production. He has 1000 poultry birds which he intends to keep for two years before selling them off as old layers. Under what class of assets will these poultry birds appear in Mr. A’ s statement of financial position?
John Moffat says
July 25, 2020 at 5:49 pm
This has nothing to do with Bank Reconciliations, so why have you posted this here?
Ask in the Ask the Tutor Forum.
April 20, 2020 at 9:20 pm
Thanks for the lecture,I had a doubt regarding the unpresented cheques and dishonoured cheques.Do we by always consider the unpresented cheques as cheques which have to be deducted from our bank account,can’t it be that those cheques are payment that we are going to receive from another party? Because that is a possibility in reality,same for dishonoured cheques.
May 21, 2019 at 8:28 pm
Please could you help me with the below question?
The following bank reconciliation statement has been prepared for a company:
Overdraft per bank statement $ 39,800 Add: Deposits credited after date $ 64,100 $103,900 Less: Unpresented cheques presented after date $ 44,200 Overdraft per cash book $ 59,700
Assuming the amount of the overdraft per the bank statement of $39,800 is correct, what should be the balance in the cash book?
I don’t understand why the OD per bank statement wouldn’t start with negative 39,800?
May 22, 2019 at 7:25 am
You must ask this sort of question in the Ask the Tutor Forum, and not as a comment on a lecture.
In the bank reconciliation statement you will start with a negative 39,800 . The question is asking you to correct the existing statement which has obviously been prepared wrongly.
May 4, 2019 at 12:44 pm
hi sir….so what happens if the bank statement has a debit balance (overdraft)? do I then still use the same format whereby I subtract the cheques not yet presented and add the lodgements not yet credited? or does the format change in any way?
May 4, 2019 at 5:08 pm
The format itself does not matter. But if there is an overdraft then unpresented cheques increase the overdraft and lodgements not credited reduce the overdraft,
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