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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › bank reconciliation
1. bank charges of $2,340 have not been entered in the cash book
2. bank statement shows balance of $200 Dr
3. Cheque received but not yet banked amounted to $890
4. Direct debit has not been recorded in the ledger accounts
Find the final balance of the cash book.
Q> why do we ignore the bank charges? if the bank charges have not been entered in the cash book, does it not mean it has not been charged in the cash book as a payment (i.e credited in the cash book)?
If the bank charges have not been entered in the cash book, then of course it means that there has not been a credit entry in the cash book.
I do not know what you mean by ‘why do we ignore the bank charges’. If they haven’t been entered then they should now be entered.