Paper 2 · Club accounts and bank reconciliation

Rugare Stores' updated Cash Book showed an overdraft of $2 200 on 31 January 2010. Uncredited cheques of$ 1 800 and unpresented cheques of $1 500 were outstanding. What overdraft balance should the Bank Reconciliation Statement show as per the Bank Statement?

Model answer

$2 500

Also accepted: 2500, 2 500

Explanation:

2 200 +

1 800 (uncredited cheques) -

1 500 (unpresented cheques) =

2 500.

Derived from ZIMSEC Principles of Accounts 7112/2 Paper 2, June 2014, Q2

Get the full paper, not just one question

Danho has every sitting for this paper, with your progress tracked question by question, offline.