Answer Happy

The summary of the bank column of the cashbook of All Needs
Supermarket for the month ended 30th September is as follows:
The bank statement received showed a balance which differed from
that of the cash book. Your investigations of the accounting record
revealed the following:
a. Standing order payment in respect of insurance and trade
subscriptions amounting to GH¢30,000 and GH¢65,000 respectively had
been made by the bank and entered in the bank statement but omitted
from the cash book;
b. The bank had wrongly debited a cheque for GH¢250,000 which
should have been placed against another customer’s account;
c. Cheques drawn up to 30 th September 2018 but not submitted
for payment by the payees totalled GH¢206,000;
d. Credit transfers which had been received by the bank but
which has not been entered in the cash book totalled
GH¢120,000;
e. Cheques received from customers amounting to GH¢390,000
entered in the cash book on 30 th September 2018 were not credited
by the bank until 6 th October 2018;
f. Bank charges of GH¢45,000 shown in the bank statement had not
been entered in the cash book;
g. A cheque drawn for GH¢105,000 had been entered in the cash
book as GH¢150,000 and a cash book page on the receipt side had
been understated by GH¢200,000; and
h. A cheque of GH¢70,000 drawn by All Needs Supermarket was
correctly entered in the cash book but debited to the bank
statement as GH¢7,000.
Required:
I) Make the appropriate adjustment in the cash book to show the
balance which should
appear on 30th September 2018
II) Calculate the balance shown on the bank statement by means of
reconciliation
statement.
Opening balance Total receipts Cash Book (Bank Column) GH¢ 450,000 Total payment 6,500,000 Closing balance 6.950,000 GH¢ 6,750,000 200,000 6.950.000