Bank Reconciliations Memo

1
Bank Reconciliations 2021 DBE
QUESTION 1
1.1 CASH RECEIPT JOURNAL - MARCH 2020 CRJ 3

Doc Day Details Bank Amount Details
30 Total 118 960
B/S P.Piet 8 500 8 500 Rent income
B/S Mona Bank 96 96 Interest income
127 556 7
CASH PAYMENT JOURNAL - MARCH 2020 CPJ 3

30 Total 40 400
B/S Fast Insurers 4 400 4 400 Insurance
B/S Parys Water and electricity
Municipaliy 4 150 4 150
B/S Mona Bank 430 430 Bank charges
49 380 10
1.2 GENERAL LEDGER OF DADDY STORES

Bank
2020 2020
Mar 1 Balance b/d 12 340 Mar 31 Sundry Accounts 49 380
2020
Mar 31 Sundry Accounts 127 556 Balance 90 516

139 896 139 896
Balance 90 516 7
1.3 Prepare a Bank Reconciliation Statement for March 2020.

Debit Credit
Balance according to bank
statement 81 916 
Cr. Outstanding deposit 21 000 
Dr. Outstanding EFT No 6 12 400 
Dr. Balance according to the 90 516
bank account See 1.2. 
102 916  102 916

both figures must be the same
Copyright reserved Please turn over

2
QUESTION 2

30 Total 116 000 50 000
B/S M. Mashiane 7 500 7 500 Rent income
B/S D. Dlamini 1 250 1 250 Debtors Control
B/S Disa Bank 75 75 Interest income 10
124 825 58 825

30 Total 54 700 5 700
B/S Quick Insurers 3 900 3 900 Insurance
B/S Town Council 3 600 3 600 Water and electricity
B/S Disa Bank 725 725 Bank charges
62 925 13 925 (388 + 212 + 125)
10
2.2 GENERAL LEDGER OF DADDY STORES

Bank
2020 2020
Mar 1 Balance 21 300 Mar 31 Sundry Accounts 62 925
Mar 31 Sundry Accounts 124 825 Balance 83 200


146 125
146 125

Balance 83 200
6

Debit Credit
Balance as per bank statement 85 800 
Dr. Outstanding EFT No 9 2 000 
Dr amount wrongly credited 18 600 
bank account See 1.2. 
103 800  103 800


3
QUESTION 3
3.1 CASH RECEIPTS JOURNAL - JANUARY 2021 CRJ 4

31 Total 31 580 13 650
B/S T. Rogers 4 500 4 500 Rent Income
B/S BB 21 000 20 000 Fixed Deposit:
Investments BB Investments
1 000 Interest on fixed deposit

B/S C. Charlie 2 500 2 500 Debtors’ Control 
B/S Big Bank 340 340 Interest 
59 920 12

CASH PAYMENTS JOURNAL - JANUARY 2021 CPJ 4

31 Total 23 349 10 399
B/S Big Bank 525 525 Bank charges 
B/S ST Insurance 2 340 2 340 Insurance
B/S Nala 4 660 3 000 Water and electricity
1 660 Drawings
30 874
 10
3.2 GENERAL LEDGER - CD STORES

Bank
2021 2021 Sundry
Jan 1 Balance 25 210 Jan 31 accounts 30 874
Sundry 59 920
Jan 31 Balance 54 256
accounts

85 130
85 130

Balance 54 256
6

4
3.3 Bank Reconciliation Statement for CD Stores on 31 January 2021.

Debit Credit
Balance according to bank 
balancing
statement 56 266 figure
Credit outstanding deposit 4 600 
Debit outstanding EFT Nr 18 3 550 
Debit amount wrongly credited 3 700 
Credit interest wrongly debited 640 
Debit balance according to bank 54 256
account See 1.2. 
61 506  61 506
both figures must be the same 8

5
QUESTION 4

30 Total 66 000 66 000
B/S D. Dawie 9 600 9 600 Rent income
B/S K. Nokanda 6 700 6 700 Debtors Control
B/S HL Bank 85 85 Interest income 10
82 385 82 385

30 Total 58 500 58 500
B/S Best Insurers 5 300 5 300 Insurance
B/S ABBA Bank 4 500 4 500 Loan
B/S HL Bank 711 711 Bank charges
73 901 73 901 13
4.2 GENERAL LEDGER OF JENNY STORES

Bank
2020 2020
Mar 31 Sundry Accounts 82 385 Balance 19 784

93 685 93 685
Balance 19 784
6

Debit Credit

statement balancing figure 2 645
Dr. Outstanding EFT – 222 7 220 
– 223 2 896 
Cr amount wrongly debited 5 555 
See 4.2 
bank account
29 900  29 900
8

6
QUESTION 5

31 Total 46 200 46 200
BS 31 AG Investments 10 200 9 000 Investment: AG
Investments
1 200 Interest on
investment
BS 31 P.Jacobs 4 500 4 500 Debtors control
60 900 82 385 9

31 Total 74 300 74 300
BS 31 Nala Municipality 1 500 1 500 Water and electricity
BS 31 Virseker 6 000 4 500 Insurance
1 500 Drawings
EFT 31 Naude Enterprises 9 600 9 600 Rent expenses
BS 31 BR Bank 610 490 Bank charges
120 Interest on overdraft
92 010 92 010 15
5.2 GENERAL LEDGER OF JENNY STORES

Bank
2021 2021
Mar 31 Total receipts 60 900 Mar 1 Balance 15 200
2021
Balance 46 310 Mar 31 Total payments 92 010
107 210 107 210
2021
Apr 1 Balance 46 310 6
5.3 Bank Reconciliation Statement on 31 March 2021.

Debit Credit

– 125 4 790 
Dr. amount wrongly credited 8 000 
Cr. Balance according to the 46 310
See 5.2 
bank account
69 710 69 710

7
QUESTION 6
6.1 CONCEPTS
6.1.1 True 
6.1.2 False 
6.1.3 True 
3
6.2.1 CASH RECEIPT JOURNAL - MARCH 2020 CRJ 3

30 Total 49 000 49 000
B/S W. Western 8 300 8 300 Rent income
B/S B. Bennie 2 750 2 750 Debtors Control
B/S WW Bank 232 232 Interest income 10
60 282 60 282

30 Total 48 000 48 000
Sales 5 000 5 000 Sales 
B/S BB Traders 5 900 5 900 Creditors Control
B/S WW Bank 1 112 1 112 Bank charges
B/S Boabab 5 100 Insurance
Insurers 6 600 1 500 Drawings 19
69 812 69 812
6.2.2 GENERAL LEDGER OF MARIAAN STORES

Bank
2020 2020
Mar 31 Sundry Accounts 60 282 Balance 1 870

71 682 71 682
Balance 1 870
6

8
6.2.3 Prepare a Bank Reconciliation Statement for March 2020.

Debit Credit

Dr. Outstanding EFT 6 600 
bank account See 6.2.2 
27 470  27 470
QUESTION 7
7.1 CONCEPTS
7.1.1 False 
7.1.2 False 
7.1.3 True 
3
7.2.1 CASH RECEIPT JOURNAL - February 2021 CRJ 2

28 Total 52 000 52 000
B/S L. Lopez 7 100 7 100 Rent income
B/S L. Canizares 2 750 2 750 Debtors Control
B/S MW Bank 230 230 Interest income
62 080 62 080 10
CASH PAYMENT JOURNAL - February 2021 CPJ 2

28 Total 51 000 51 000
Commission 6 000 6 000 Commission
income
B/S Benzema 6 200 6 200 Creditors Control
Traders
B/S Municipality 2 800 2 800 Rates and Taxes
B/S MW Bank 1 280 1 280 Bank charges
B/S Hazard 5 700 Insurance
Insurers 8 000 2 300 Drawings
75 280 75 280 19

9
7.2.2 GENERAL LEDGER OF Real Madrid STORES

Bank
2021 2021
Feb 1 Balance 13 600 Feb 28 Sundry Accounts 75 280
Feb 28 Sundry Accounts 62 080 Balance 400

75 680 75 680
2021 Balance 400
March 1 6
7.2.3 Prepare a Bank Reconciliation Statement for February 2021.

Debit Credit

Dr. Outstanding EFT 111 10 000 
Dr. Balance according to the 400
bank account See 7.2.2 
29 200  29 200

10
QUESTION 8
8.1 CASH RECEIPT JOURNAL - APRIL 2020 CRJ 3

30 Total 53 000 53 000
B/S K. Marais 4 900 4 900 Debtors Control
D. Dawie 9 600 9 600 Rent income
7
67 500 67 500
CASH PAYMENT JOURNAL - APRIL 2020 CPJ 3

30 Total 64 000 64 000
Sales 15 000 15 000 Sales 
B/S Easy Insurers 7 000 5 300 Insurance
1 700 Drawings
B/S ABBA Bank 3 500 3 500 Loan
B/S WW Bank 672 549 Bank charges
21
95 062 95 062
8.2 GENERAL LEDGER OF KETSI STORES

Bank
2020 2020
Apr 30 Sundry Accounts 67 500 Apr 1 Balance 2 345
Balance 29 907 Apr 30 Sundry Accounts 95 062

97 407 97 407
Balance 29 907
6
8.3 Bank Reconciliation Statement on 30 April 2020.

Debit Credit
Dr. Balance according to bank
statement balancing figure 27 585 
Cr EFT Wrongly debited 3 333 
Cr. Balance according to the 29 907
see 8.2 
bank account
45 840  45 840
9

11
QUESTION 9
9.1 CASH RECEIPT JOURNAL - JUNE 2020 CRJ 6
30 Total 56 200 56 200
B/S P. Nel 11 600 11 600 Rent income 
Rand Bank 4 800 4 800 Telephone 
N. Botha 3 400 3 400 Debtors Control 10
76 000 76 000
CASH PAYMENT JOURNAL - JUNE 2020 CPJ 6

30 Total 67 400 67 400
Service fees 1 500 1 500 Fee income 
B/S Pro Insurers 5 890 5 890 Insurance
B/S Matjhabeng 6 000 4 500 Rates and taxes 
1 500 Drawings
B/S YEN Bank 5 300 5 300 Loan
B/S Rand Bank 910 593 Bank charges
87 000 87 000 21
9.2 GENERAL LEDGER OF HILTON TRADERS

Bank
2020 2020
Jun 30 Sundry Accounts 76 000 Jun 1 Balance 3 456
Balance 14 456 Jun 30 Sundry Accounts 87 000

90 456 90 456
Balance 14 456
6
9.3 Bank Reconciliation Statement on 30 June 2020.

Debit Credit
Dr. Balance according to bank balancing figure
statement 12 645 
Cr Debit orders wrongly debited 2 244 
Cr. Balance according to the bank 14 456
See 9.2 
account
34 500  34 500
9

12
9.4 Provide TWO suggestions that the business can use to prevent a
situation like the one experience on 26 May 2020 in the future.
Any exceptable answers  
 All bank notes received must first be scanned under an UV light to

detect counterfeit money, to ensure it is not excepted.
`
 Encourage customers to make card / electronic payments.
4
9.5 Identify the problem that is revealed by the previous reconciliation,

and list TWO internal control measures to solve this problem.
PROBLEM: 
Late deposits / not depositing money on time / keeping cash for a long
period is risky.
TWO CONTROL MEASURES  

 Division of duties – ensure that the person receiving cash is not the
one depositing cash
 Supervise deposits – authorised person to check and sign deposit
slips
 Arrange with bank for notifications for all transactions (sms)
5
9.6 Refer to the debit order for R2 244. Explain a possible reason how
this may have occured, and provide advise on how this can be
rectified.
POSSIBLE EXPLANATION: 
Fraudulent entry; someone hacked the business security code; business
entered the wrong account number for a service provider.
POINT OF ADVICE 
Cancel the debit order with the incorrect business / person receiving the
funds
If that cannot be done, it may be necessary to change the business
banking details Or change the security code
Closely monitor the statement / statement or transaction records can be
easily accessed at regular intervals; to detect unusual entries.
4

13
QUESTION 10
10.1 CASH RECEIPTS JOURNAL - FEBRUARY 2020 CRJ 1

29 Total 64 811 64 811
B/S SPY Bank 54 000 52 000 Fixed deposit: SPY
Bank 
2 000 Interest on fixed
deposit
B/S S Bester 18 200 18 200 Rent income
B/S PA Bank 108 108 Interest on current
account
137 119 137 119 12
CASH PAYMENTS JOURNAL - FEBRUARY 2020 CPJ 1

29 Total 53 991 53 991
Sales 62 420 62 420 Sales 
B/S PA Bank 890 890 Bank charges 
B/S ML Insurers 8 400 6 200 Insurance 
2 200 Drawings 
B/S CM Bank 4 300 4 300 Loan: CM Bank
B/S City council 56 230 56 230 Water and electricity

186 231 186 231 19
10.2 GENERAL LEDGER OF VDM TRADERS

Bank
2020 2020
Feb 1 Balance 474 188 Feb 29 Sundry accounts 186 231
2020 Sundry
Feb 29
accounts 137 119 Balance 425 076
611 307 611 307

2020 Balance 425 076 6
Mar 1

14
10.3 Bank Reconciliation Statement op 29 February 2020.

Debit Credit
Cr. Balance as per Bank

Statement 392 650
Cr. Outstanding deposit 25/02 13 820 
28/02 22 336 
Cr EFT wrongly debited 2 631 
Dr. Outstanding EFT – No. 323 6 361 
Dr. Balance according to bank 425 076
account See 10.2 
431 437  431 437

Both figures must be the same
8

15
QUESTION 11
11.1 Calculate the correct Bank Account balance on 31 March 2020.

    
Receipts: 55 400 + 900 + 2 850 + 9 300 + 120 = 68 570
    
Payments: 36 900 + 6 000 + 1 450 + 5 350 + 980 = 50 680
7 500  + 68 570  – 50 680  = 25 270  16
11.2 Bank Reconciliation Statement on 31 March 2020.

Debit Credit
Balance according to Bank Statement
Balancing figure 15 380
Cr Outstanding deposit 22 700
Dr Outstanding EFT – 333 6 500
Dr amount wrongly credited 6 400
Bank charges overstated 210 
Dr Balance on the bank account 25 390 
See 11.1
38 290 38 290
 both figures must be the same
9
11.3 (a) Identify the GAAP principle which will be applied in this
case.
GAAP Principle:
Principle of prudence 
1
(b) Provide TWO internal control measures that Jane can use
to prevent such a loss in future.
Any TWO valid point 

 Division of duties/Rotation of duties/Divide duties amongst
employees so that the one can act as a check on the other / The
person issuing receipts should not be the same person doing the
deposits.
 Responsible staff members to check/make the deposits.
 Regular and timely supervision / monitor cash deposits
 Cash must be deposited daily (check deposit slip against receipts).
 Outstanding deposits must be investigated promptly.
 Encourage EFT payments by customers / debtors.
4
 Request bank to send confirmation of all transactions (e.g. sms).

Bank Reconciliations Memo

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Bank Reconciliations Memo

Uploaded by

Copyright:

Available Formats

1

Bank Reconciliations 2021 DBE

1.1 CASH RECEIPT JOURNAL - MARCH 2020 CRJ 3

CASH PAYMENT JOURNAL - MARCH 2020 CPJ 3

1.2 GENERAL LEDGER OF DADDY STORES

139 896 139 896

1.3 Prepare a Bank Reconciliation Statement for March 2020.

102 916  102 916

Copyright reserved Please turn over

2.1 CASH RECEIPT JOURNAL - MARCH 2020 CRJ 3

CASH PAYMENT JOURNAL - MARCH 2020 CPJ 3

2.2 GENERAL LEDGER OF DADDY STORES

Mar 31 Sundry Accounts 124 825 Balance 83 200

2.3 Prepare a Bank Reconciliation Statement for March 2020.

103 800  103 800

Copyright reserved Please turn over

3.1 CASH RECEIPTS JOURNAL - JANUARY 2021 CRJ 4

CASH PAYMENTS JOURNAL - JANUARY 2021 CPJ 4

3.2 GENERAL LEDGER - CD STORES

Copyright reserved Please turn over

3.3 Bank Reconciliation Statement for CD Stores on 31 January 2021.

Copyright reserved Please turn over

4.1 CASH RECEIPT JOURNAL - MARCH 2020 CRJ 3

CASH PAYMENT JOURNAL - MARCH 2020 CPJ 3

4.2 GENERAL LEDGER OF JENNY STORES

Mar 31 Sundry Accounts 82 385 Balance 19 784

4.3 Prepare a Bank Reconciliation Statement for March 2020.

Copyright reserved Please turn over

5.1 CASH RECEIPT JOURNAL - MARCH 2021 CRJ 3

CASH PAYMENT JOURNAL - MARCH 2021 CPJ 3

5.2 GENERAL LEDGER OF JENNY STORES

5.3 Bank Reconciliation Statement on 31 March 2021.

Copyright reserved Please turn over

6.2.1 CASH RECEIPT JOURNAL - MARCH 2020 CRJ 3

CASH PAYMENT JOURNAL - MARCH 2020 CPJ 3

6.2.2 GENERAL LEDGER OF MARIAAN STORES

Mar 31 Sundry Accounts 60 282 Balance 1 870

Copyright reserved Please turn over

6.2.3 Prepare a Bank Reconciliation Statement for March 2020.

7.2.1 CASH RECEIPT JOURNAL - February 2021 CRJ 2

CASH PAYMENT JOURNAL - February 2021 CPJ 2

Copyright reserved Please turn over

7.2.2 GENERAL LEDGER OF Real Madrid STORES

Feb 28 Sundry Accounts 62 080 Balance 400

7.2.3 Prepare a Bank Reconciliation Statement for February 2021.

Copyright reserved Please turn over

8.1 CASH RECEIPT JOURNAL - APRIL 2020 CRJ 3

CASH PAYMENT JOURNAL - APRIL 2020 CPJ 3

8.2 GENERAL LEDGER OF KETSI STORES

Balance 29 907 Apr 30 Sundry Accounts 95 062

8.3 Bank Reconciliation Statement on 30 April 2020.

Copyright reserved Please turn over

CASH PAYMENT JOURNAL - JUNE 2020 CPJ 6

9.2 GENERAL LEDGER OF HILTON TRADERS

Balance 14 456 Jun 30 Sundry Accounts 87 000

9.3 Bank Reconciliation Statement on 30 June 2020.

Copyright reserved Please turn over

 All bank notes received must first be scanned under an UV light to

9.5 Identify the problem that is revealed by the previous reconciliation,

TWO CONTROL MEASURES  

Copyright reserved Please turn over

10.1 CASH RECEIPTS JOURNAL - FEBRUARY 2020 CRJ 1

CASH PAYMENTS JOURNAL - FEBRUARY 2020 CPJ 1