Assignment 5 unit 30 -help

violetavioleta Settling In NicelyDevonRegistered Posts: 33
Assignment 5 scenario 1. I am trying to reconcile the cash book and it doesn't balance. Can't figure out what am I doing wrong. I updated cash book with interest on DR £72 and Sales payments for £7658 in total+bank charges £150 on CR side of cash acc. Is that correct? Why it doesn't balance?

Thanks

Comments

  • annecreedannecreed New Member Registered Posts: 14
    updating cash book you dr interest cr bank charges. the others go onto bank rec. and shuold add up to the balance of updated cash book.
  • kath41kath41 New Member Registered Posts: 6
    Hi
    Not sure if you have solved this one yet.
    The only entries that need updating (ie the ones that didnt reconcile with the bank statement) are £72 bank interest DR and £150 bank charges CR.

    If you balance the cash book you should have a debit balance which gives you the balance b/d figure for your updated cash book (DR £121). Make the 2 entries above and balance it off.
    Part 2 of the assignment will then confirm that your figure is correct.

    Hope that helps:thumbup:
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