Acca financial Accounting (FA) Study Text ac ca (FA)

Note that the bank balance on the statement of financial position is 

always the balance per the revised cash book. 

 

 

Test your understanding 2 

 

In preparing an entity’s bank reconciliation statement, the accountant 

finds that the following items are causing a difference between the cash 

book balance and bank statement balance: 

1 Direct 

debit 

$530. 

2 

Lodgements not credited $1,200. 

3  

Cheque paid in by the entity and dishonoured $234. 

4  

Outstanding cheques $677. 

5 

Bank charges $100. 

6 

Error by bank $2,399 (cheque incorrectly credited to the account). 

 

 

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