BKAF 1023: INTRODUCTION TO FINANCIAL ACCOUNTING

SEMESTER A231
TUTORIAL 5 (TOPIC 10)
SUBMISSION DATE: 25 JANUARY 2024 BY 11:59 PM

QUESTION 1

Ali Imran Enterprise is about to do a bank reconciliation based on the statement received and
the cash book record. As a new officer, you are given the task to prepare the statement given
the information below until 31 December 2023:

(a) The 31 December bank statement indicated a balance of RM76,880.

(b) Outstanding cheques totaled RM19,336.
(c) A cheque for RM4,000 was deposited at the Cheque Deposit Machine (CDM) of the
bank but has not been cleared by the bank at the statement date.
(d) The bank returned a customer’s Non-Sufficient Fund (NSF) cheque for RM5,800
received as payment on account receivable.
(e) The bank statement showed an amount of RM6,400 was credited for the prize-winning
incentive by the Ministry of Entrepreneur and Co-operatives Development.
(f) Cheque No. 1124 for miscellaneous expense was cleared by the bank for RM1723 but
was erroneously recorded in the book as RM1039.
(g) An RM3,888 deposit was erroneously credited to the company account by the bank.
The rightful account was under Ali Amran Enterprise.
(h) The cash general ledger account on that date shows a balance of RM57,740.

REQUIRED:

(a) Prepare the bank reconciliation statement for 31 December 2023.

(b) Prepare the journal entries to record the cashbook transactions.

(c) Prepare the general ledger to record the adjusted cash balances on 31 December 2023.

QUESTION 2
(a) Explain FOUR purposes of internal control and relate them to relevant situational examples.
QUESTION 3

The following information is available for Soldadu Enterprise as of 31 December 2023:

a. Cash on the book and bank statement are RM68,505 and RM85,030 respectively.
b. A deposit of RM8,549 did not appear on the bank statement.
c. Outstanding checks totaled RM4,376.
d. The bank service charge for the month was RM16.
e. The bank collected RM21,840 for Soldadu Enterprise.
f. A check of RM922 has been returned due to insufficient funds.
g. A check from Solduda Enterprise totaled RM480 was mistakenly cleared from Soldadu
Enterprise account by the bank.
h. The bank statement reported an interest revenue of RM276.

REQUIRED:

(a) Prepare the bank reconciliation statement for 31 December 2023.