Chapter 10
Cash Controls
321
Review Exercise 2
The following is the general ledger and bank statement for Martin Furniture.
GENERAL LEDGER
Account: Cash
GL. No. 101
Date
Description
DR
CR
Balance
Jun 1
Opening Balance
3,100.50 DR
Jun 6
Chicago Hardware Traders Inc.
900.50 2,200.00 DR
Jun 9
Reo’s Interiors Inc.
1,925.00
4,125.00 DR
Jun 10 Air-conditioning Repair & Co.
1,600.00 2,525.00 DR
Jun 16 Alex Santiago Payroll
400.00 2,125.00 DR
Jun 16 Martin Furnishings Inc.
2,000.00
4,125.00 DR
Jun 19 Line-wire Electric
110.00 4,015.00 DR
Jun 19 Rice Inc.
500.00 3,515.00 DR
Jun 28 Eric Draven Enterprises
1,300.00
4,815.00 DR
Jun 30
Closing Balance
4,815.00 DR
Required
Reconcile the ledger and bank statement and record the relevant transactions on the general
journal.
Reserve Bank
146 Lineage Avenue, Ottawa
Martin Furniture
234 Lakeview Drive
Ottawa, Ontario
Date
Explanation
Withdrawal
Deposit
Balance
Jun 1 Balance Forward
3,100.50
Jun 8 Cheque #541
900.50
2,200.00
Jun 9 Deposit
1,925.00
4,125.00
Jun 10 Cheque #543
1,600.00
2,525.00
Jun 16 Deposit
2,000.00
4,525.00
Jun 16 Cheque #542
400.00
4,125.00
Jun 18 NSF Cheque #256
2,000.00
2,125.00
Jun 18 NSF Charge
6.00
2,119.00
Jun 21 Cheque #544
110.00
2,009.00
Jun 27 Interest on Bank Account
5.00
2,014.00
Jun 29 Service Charge
14.00
2,000.00
Jun 30 Ending Balance
2,000.00
