Manual Accounting Practice Set
HiFi Way, Australasian Edition 3
Feedback: Bank reconciliation
This is a feedback page. Please review this page carefully because later pages in this practice set build on the
feedback provided here. After you have reviewed your feedback page, click Continue at the bottom of this page to
move on to the next page of your practice set.
Your progress
Your grading
Your grading outcome (still in progress)
Awarded Total
Points (prior to this page)
437
449
Points (on this page)
177
177
−
410
Points (after this page)
Total
614 1,036
Completed:
50% (approximately)
Remaining pages will take: up to 8.5 hours
The time frames we provide are a guide only. It may
take you more or less time to complete each step.
Now that you have finished recording all of the transactions for the month of June, you are required to prepare a bank
reconciliaton as at 30 June 2014.
The purpose of the bank reconciliation process is to reconcile the balance of cash shown in the company's ledger
account against the balance of cash reported in the bank statement.
Instructions for bank reconciliation
1) Identify any reconciling items and record the relevant reconciling items in the appropriate journals. To do this,
you will need to use:
the previous month's bank reconciliation statement, and
the current month's bank statement
Note that the general journal is not provided on this page of the practice set because you are
required to use other journals to record those reconciling items.
When you enter items into the journals, if a cheque number is not required, you need to fill the appropriate
input box with an X.
2) Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting
policies and procedures.
3) Total the Cash at Bank columns in the special journals. Record the amount in the Total row of each journal. On
this web page, you are not required to total the rest of the columns in the special journals. You will total these
columns and post them to the ledger in the next stage of the practice set.
4) Post the total of the Cash at Bank columns in the special journals to their corresponding ledger account. To
confirm that the posting has been performed, a posting reference is recorded in the last row of the special
journals.
5) Prepare the bank reconciliation statement as at 30 June 2014. The bank reconciliation statement provided below
may contain more rows than required.
All answers can be entered as positive or negative numbers as required.
BackOnTrack functionality
Please note that any answers from previous pages carried through onto this page (either on the page or in a
popup information page) have been reset, if necessary, to the correct answers. Your particular answers from
previous pages are no longer shown.
Remember:
Enter all answers to the nearest whole dollar.
When completing the journals, if a cheque number is not required, you need to fill the appropriate input box
with an X.
You are also required to apply the journals and ledgers instructions provided in previous weeks.
Before pressing the Submit answers button, we recommend that you click the Show All tab and check that all
relevant accounting records have been completed.
If you want to print this page, please read and follow the special printing information to ensure you can print the
special journals in full.
Show All Bank Reconciliation
Special Journals
Subsidiary Ledgers
HiFi Way
Bank Reconciliation Statement
As at 30/06/2014
Balance as per bank statement:
90236 CR
Add:
deposit in transit
1292
deposit in transit
2592
deposit in transit
5878
Total
9762
99998 CR
Less:
unpresented cheque
Total
Adjusted bank balance
No.
908
5298
No.
No.
No.
5298
94700 CR
Balance as per ledger account
94700 DR
General Ledger
Feedback
HiFi Way
Bank Reconciliation Statement as at 30/06/2014
Balance as per bank statement:
Add:
deposit in transit
deposit in transit
deposit in transit
90,236 CR
1,292
2,592
5,878 9,762
99,998 CR
Less:
unpresented cheque
Adjusted bank balance
No. 908 5,298 5,298
94,700 CR
94,700 DR
Balance as per ledger account
(Q=801.cashJournalsBankRec)
CASH RECEIPTS JOURNAL
Note: In order to receive full points, for each transaction you must select an account under the column labelled
'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash
at Bank account, you are asked to enter the name of the appropriate account credited in these transactions into the
Account column so that the type of transaction can be determined by the name of the account entered into this
column.
Date
Account
Post
Ref.
Debit
Credit
Cash at Bank
Discount
Allowed
Sales
Accounts
Other
Revenue Receivable Accounts
250
53,000
53,000
Jun
1 Bank Loan Payable
Jun
5 Sales Revenue
X
7,369
7,369
Jun 12 Sales Revenue
X
9,898
9,898
Jun 13 ARC Handys Electronics
1101
2,229
248
2,477
Jun 16 ARC Radio Hut
1106
600
600
X
9,312
9,312
1103
1,292
1,292
X
9,649
9,649
1104
2,592
2,592
X
5,878
5,878
Jun 19 Sales Revenue
Jun 20 ARC Jerry Technology
Jun 26 Sales Revenue
Jun 30 ARC Hypertronics
Jun 30 Sales Revenue
Jun 30 ARC Radio Hut
Jun 30 Interest Revenue
Jun 30
Jun 30
Jun 30
Jun 30
110‑6
‑600
0
0
‑600
0
403
217
0
0
0
217
Total
Post Reference
101436
100 )
(
CASH PAYMENTS JOURNAL
Note: In order to receive full points, for each transaction you must select an account under the column labelled
'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash
at Bank account, you are asked to enter the name of the appropriate account debited in these transactions into the
Account column so that the type of transaction can be determined by the name of the account entered into this
column.
Date
Account
Cheque
No.
Debit
Post
Ref.
Credit
Accounts
Other
Purchases
Payable
Accounts
Cash at Bank
Discount
Received
Jun
3 APC Pear Technology
903
2102
2,083
2,062
21
Jun
5 Purchases
904
X
1,620
1,620
Jun
7 APC JCN Electrical
905
2104
2,252
2,207
45
Jun 13 APC Pony
906
2105
1,923
1,923
Jun 15 Wages Expense
907
516
5,595
5,595
Jun 25 APC Moon Megasystems
908
2101
5,298
5,298
Jun 28 APC Mega Tech
909
2103
2,635
2,635
Jun 29 Wages Expense
910
516
5,137
5,137
Jun 30 Salary Expense
911
545
5,900
5,900
Jun 30 Bank Charges
X
572
0
0
6
6
0
Jun 30
Jun 30
Jun 30
Jun 30
Jun 30
Total
Post Reference
(
32383
100 )
Feedback
CASH RECEIPTS JOURNAL
Date
Account
Jun
1 Bank Loan Payable
Jun
Post
Ref.
Debit
Cash at
Bank
Credit
Discount
Allowed
Sales
Accounts
Other
Revenue Receivable Accounts
250
53,000
53,000
5 Sales Revenue
X
7,369
7,369
Jun 12 Sales Revenue
X
9,898
9,898
Jun 13 ARC Handys Electronics
1101
2,229
248
2,477
Jun 16 ARC Radio Hut
1106
600
600
Jun 19 Sales Revenue
X
9,312
9,312
1103
1,292
1,292
X
9,649
9,649
1104
2,592
2,592
X
5,878
5,878
Jun 30 ARC Radio Hut
1106
600
600
Jun 30 Interest Revenue
403
217
217
101,436
(100)
Jun 20 ARC Jerry Technology
Jun 26 Sales Revenue
Jun 30 ARC Hypertronics
Jun 30 Sales Revenue
Total
Post reference
CASH PAYMENTS JOURNAL
Date
Account
Cheque
No.
Post
Ref.
Debit
Credit
Accounts
Other
Purchases
Payable
Accounts
Cash at
Bank
Discount
Received
Jun
3 APC Pear Technology
903
2102
2,083
2,062
21
Jun
5 Purchases
904
X
1,620
1,620
Jun
7 APC JCN Electrical
905
2104
2,252
2,207
45
Jun 13 APC Pony
906
2105
1,923
1,923
Jun 15 Wages Expense
907
516
5,595
5,595
Jun 25 APC Moon Megasystems
908
2101
5,298
5,298
Jun 28 APC Mega Tech
909
2103
2,635
2,635
Jun 29 Wages Expense
910
516
5,137
5,137
Jun 30 Salary Expense
911
545
5,900
5,900
X
572
6
6
Total
32,383
Post reference
(100)
Jun 30 Bank Charges
(Q=8031104.AcctsRec4_bankRec)
SUBSIDIARY LEDGERS
Account: ARC Hypertronics
Account No. 1104
Date
May
Description
31 Balance
Ref.
Debit
Credit
Balance
2,592 DR
CRJ
2,592
0
Jun
30 Repayment
Jun
30
Jun
30
Jun
30
Feedback
There are no relevant entries in the Hypertronics ledger for this week.
(Q=8031106.AcctsRec6_bankRec)
Account: ARC Radio Hut
Account No. 1106
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
0
Jun
13 Credit sale
SJ
680
680 DR
Jun
16 Repayment
CRJ
600
80 DR
Jun
25 Credit sale
SJ
720
800 DR
Jun
30
Jun
30
Jun
30
Dishonoured Cheque
CRJ
600
1400
0
DR
Feedback
Account: ARC Radio Hut
Account No. 1106
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
0
Jun
13 Credit sale
SJ
680
680 DR
Jun
16 Repayment
CRJ
600
80 DR
Jun
25 Credit sale
SJ
720
800 DR
Jun
30 Dishonoured cheque
CRJ
600
1,400 DR
(Q=804100.CashAtBank_bankRec)
GENERAL LEDGER
Account: Cash at Bank
Account No. 100
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
25,647 DR
Jun
30
Cash Receipts
CRJ
101436
0
127083
DR
Jun
30
Cash Payments
CPJ
0
32383
94700
DR
Jun
30
Feedback
Account: Cash at Bank
Account No. 100
Date
Description
Ref.
Debit
Credit
Balance
25,647 DR
30 Total from cash receipts journal
CRJ
101,436
127,083 DR
30 Total from cash payments journal
CPJ
32,383
94,700 DR
May
31 Balance
Jun
Jun
(Q=8041100.ARControl_bankRec)
Account: ARC Accounts Receivable Control
Account No. 110
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
11,430 DR
GJ
3,504
7,926 DR
Jun
12 Sales return from Jerry Technology
Jun
30
Jun
30
Jun
30
Jun
30
Feedback
There are no relevant entries in the Accounts Receivable Control ledger for this week.
(Q=804201.InterestPayable_bankRec)
Account: Interest Payable
Account No. 225
Date
May
Description
Ref.
31 Balance
Debit
Credit
Balance
0
Jun
30
Jun
30
Jun
30
Feedback
There are no relevant entries in the Interest Payable ledger for this week.
(Q=804403.InterestRevenue_bankRec)
Account: Interest Revenue
Account No. 403
Date
May
Description
Ref.
31 Balance
Debit
Credit
CRJ
0
Jun
30
Jun
30
Jun
30
Interest
Feedback
Account: Interest Revenue
0
Balance
217
217
CR
Account No. 403
Date
Description
Ref.
May
31 Balance
Jun
30 Interest received from the bank
Debit
Credit
0
CRJ
217
217 CR
(Q=804571.InterestExpense_bankRec)
Account: Interest Expense
Account No. 571
Date
May
Description
Balance
Ref.
31 Balance
Debit
Credit
Balance
0
Jun
30
Jun
30
Jun
30
Feedback
There are no relevant entries in the Interest Expense ledger for this week.