Day 1

Leo Cussen Centre for Law

Practical Training Course

Accounts

Exercise 6B: Answer

Trust Account Reconciliation (Optional)

Reconciliation for month ending 28 February 20 XY

Date Statement Prepared 28 February 20 XY

PREPARED BY ............................................ AUTHORISED BY ..........................................

n CASH RECONCILIATION

Cash Book balance from previous month $ 56,099.43

ADD Total Receipts $ 97,090.87

SUB TOTAL $ 153,190.30

DEDUCT Total Payments $ 64,486.82
Cash Book Balance at end of month * $ 88,703.48

n BANK RECONCILIATION

Balance as per Bank Statement $ 88,839.74

ADD Deposits not credited $ NIL
SUB TOTAL $ 88,839.74

DEDUCT Unpresented cheques $ 154.26

SUB TOTAL $ 88,685.48

AMENDMENTS due to Bank error $ 18.00

Balance as per Bank Account * $ 88,703.48

Unpresented Cheques

Date Payee Cheque No. Amount

9/2 City of Mentone 259 5.60

28/2 Gas and Fuel 275 42.16
28/2 Green 276 8.02
28/2 Verdi & Co. Pty. Ltd. 277 98.48
$ 154.26
* These totals should agree