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Question On Brs
Question On Brs
The cash book of Kofi Brokeman Ltd for the year ending 31st December 2016 is as follows:
GHS GHS
Receipts: Payments:
Cheque No. 248296 from Sir Kwakwa 166,239 Cheque No. 182306 to Dawadawa Ltd 150205
Cheque No. 188098 from Ghana Post Cheque No. 182307 to Makosah
277,065 200,000
Cheque No. 155812 from Fosu Ltd 4860 Cheque No. 128908 to Ntow Ltd 4,305
Cheque No. 394504 from Santana Ltd 349,270 Cheque No. 182309 to Data link 300,000
Cheque No. 112001 from Kofas Media 200,000 Cheque No. 182310 to Oga Ltd 295,695
1,002,396 1,002,396
Investigations of the records for the period revealed the following information:
(i) A dividend of GHC400 on shares in GT2 Ltd was paid direct to bank account and no entry was
made in the company’s cash book.
(ii) An amount of GHC4,887 received from a customer by credit transfer during the period had not
been recorded in the cash book.
(iii) Bank charges of GHC1,356 shown in the bank statement had not been entered in the cash book.
(iv) Standing orders entered in the bank statement had been omitted from the cash book in respect of
rates to the Oman District Assembly, of GHC3,456 and insurance of GHC450.
(v) Cheque No. 182308 paid to Ntow Ltd had not been presented at the bank and cheque No. 155812
from Fosu Ltd and deposited into the bank account had not been credited to the company’s account.
(vi) A cheque for GHC714 had been debited to the company’s account in error by the bank.
Required:
Prepare a Bank Reconciliation Statement as at 31st December 2016 together with a corrected Cash
Book.
SOLUTION TO BRS
ORRRRRRRRRRRRRRRR
GHS GHS
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