- This topic has 1 reply, 2 voices, and was last updated 1 year ago by .
Viewing 2 posts - 1 through 2 (of 2 total)
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.
PQ Awards Nominations
Please help us to win one of the PQ Magazine awards and send in the voting form >>
You can nominate us in any or all of the following categories: Online College of the Year, Study Resource of the Year, Private Sector Lecturer of the Year, and Accountancy Personality of the Year.
Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>
Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › reconciliations
The bank statement of Hugo showed a debit balance of $12,800. The bank reconciliation showed there were outstanding lodgements of $3,400 and unpresented cheques of $4,700.
What is the correct amount of cash that should be recorded in Hugo’s accounts?
can u explain this i didnt get the whole question
The bank statement is showing an overdraft of 12,800.
The outstanding lodgements will reduce the overdraft and the unpresented cheques will increase the overdraft. The end result will be the correct balance that should be appearing in their cash account.
This is all explained in my free lectures on bank reconciliations. The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.