Bank Reconciliation StatementMarkson’s & cash book balance and bank statement balance at 31 March 2021 does not agree. The following information has been given to you as a student of accounting to help the company reconcile the difference:The balance per the cash book is GH¢3,300.A cheque of GH¢6,000 issued to a supplier on 30 March 2021 was still in the supplier’sInsurance paid by the bank is GH¢400. This is yet to be recorded in the cash book.An outgoing cheque of GH¢2,000 was recorded twice in the cash book. It is accurately recorded in the bankPayment of a GH¢1,000 cheque is recorded twice in the bankThe bank statement recorded an amount of GH¢1,200 as dividends received from Kankam There is no such transaction in the cash book.A cheque of GH¢1,000 received from a customer was deposited at the bank on 29 March 2021, but this amount has not yet reflected in the bank statement.Bank charges in the bank statement amounted to GH¢100.Required: a. List out the items and balances for the credit side of the updated / adjusted cashbookb. List out the items and balances for the debit side of the updated / adjusted cashbookexample: Debit: Dishonoured cheques GHS 2,000, Credit: Standing order GHS 1,000.

A reconciliation that includes proof of receipts and disbursements that is useful in discovering possible discrepancies in handling cash over a certain period of time.Select one:a.bank reconciliationb.bank statementc.proof of cashd.cash requirements report

What are a Bank Reconciliation Statement and the advantages of aBank Reconciliation Statement ? Prepare the bank reconciliation statement. Illustration

Recall the preparation of a bank reconciliation by selecting the correct items below.Multiple select question.Add deposits in transit to the bank balance.Subtract any outstanding checks from the bank balance.Compute the adjusted bank balance.Compute the adjusted (depositor's) book balance.Add any unrecorded bank fees to the bank balance.Add the deposits in transit to the book balance.

In preparing a bank reconciliation, outstanding checks areGroup of answer choicesdeducted from the balance per books.added to the balance per bank.added to the balance per books.deducted from the balance per bank.

Which of the following are typical reconciling items on the book side of a reconciliation because the company did not know about these items until it got the bank statement?Multiple select question.interest incomeelectronic fund transfersservice chargesoutstanding checksdeposits in transit