Exercise Project

Project one
Sodo plc. is trading enterprise have a checking account at awash bank. The plc. Received statement
every month from the bank and prepared a bank reconciliation are obtained from the accounting
records of sodo plc. and bank statement received on October 3, 2018 to prepare bank reconciliation
statement as of September 30, 2018
1. The bank statement balance as of September 30, 2018 was birr 15,028.45
2. The depositors book shows balance of birr 8,603.45 as Of September 30, 2018
3. Birr 2,400 deposits made on September 30,2018 not seen in bank statement
4. The bank collected a note receivable with principal value of birr 10,000 and intersect applicable for
the month at annual rate of 12%
5. Check no. aw 1012 for birr 2,500 and check no. aw 1018 for birr 3,500 issued and recorded by the plc
during the month are not yet paid by the bank
6. The account clerk of sodo plc wrongly recorded a check issued to a supplier on account for birr 720
as birr 270.
7. The bank wrongly debited the account of the pic by birr 3,000 for a check issued by another company
8. Checks received from customers on account with amount of birr 1750 and birr 1,900 were record
and send to the bank for deposit on September 28 but returned by the bank along with the
statement marked NSF on October 3 , 2018
9. The bank service charge for September was birr 175.
Required:-
1) Prepare the bank reconciliation of September 30, 2018
2) Record journal entries of sodo plc
Sodo plc.
Bank reconciliation statement
For the month of October 3 2018
Balance per Bank balance=15,028.45 Add NR=10,000
Add deposit 2,400 Interest=100
Add error=3000 Less error=450
Less=2,500+3500 NSF=1750+1900=3,650
Total bank balance =14,428.45 Service charge=175
Total book balance=14,428.45
Book balance=8,603.45
Project Two
The following information pertains to ADA research and development PLC.
1) Balance per bank statement dated March 31,2015, is birr 4,204.
2) Balance of cash account on the company book as of March 31,2015 ,is birr2,855.
3) Birr500 receipt of March 31 did not appear on the bank statement.
4) The following checks issued by ADA research and development plc did not appear in the
March’sBank statement.
 CKno.20 br.300
 CKno.21 br.250
 CKno.22 br.238
4. A note of birr 1200 and interest of birr 25 were collected by the bank for ADA research and
Development plc and included with the bank statement as credit memo and birr 150 debit
Memo for NSF checks.
5. Service and collection charge for the month were br.50
6. Cash payment to suppliers on account of br.148 was erroneously recorded by depositor as br
184.
Task 1 Prepare bank reconciliation as of march 31,2015.

Task 2 Prepare the necessary journal entries.
PROJECT THREE
The following information is available to you to reconcile showa super market balance cash with its
bank statement balance as of December 31, 2015
1. The cash balance per book of the company was Br 6,815.30 December 31,2015
2. The cash balance per bank statement was Br 7,050.00 on December 31,2015
3. The bank collected a note receivable of Br 1,200.00 from ZENEBE PLC on December 48, plus Br
48.00 of interest. The bank made a Br 10.00 charge for collection
4. The December 31 receipt of Br 1,820.40 was not included in bank statement. The receipt was
deposited by the company in a night depository
5. The company issued check No 2480 to showa super market company, a creditor Br 492 incorrectly
entered in the cash payment journal on December 10 Br 429
6. Checks written prior to December 31 that had not cleared by bank total of Br 1,480.90
7. The bank erroneously deducted Br 25 check drawn from the bank by Ride transport plc.
8. On December 31 the bank statement marked as NSF check of Br 550
9. The bank service charge for December was Br 25.00
Required tasks:
Task 3.1 prepare the bank reconciliation as of December 31,2015
Task 3.2 prepare the necessary adjusting entries at December 31,2015
PROJECT FOUR
a. Company BB’S bank statement dated December 31, 2013 shows a balance of br. 65,040.00.
The Company’s cash records on the same date show a balance of br. 37,820.00.
b. Following checks issued by the Company to its customers are still outstanding:
No. 846 issued on November 29 13,200.00
No. 875 issued on December 26 5,000.00
Total 24,260.00
c. A deposit of br. 9,040.00 made on December 31 does not appear on bank statement.
d. A check of br. 20,400 was returned by the bank with bank statement as non-sufficient fund
(debit memorandum).
e. A safe deposit rent br. 260 and service charge br. 140.
f. A check No.555 for 10,160 to X-Company for settlement of accounts payable recorded in
cash payment journal as br. 18,460.
g. The bank collected a note receivable of br. 24,500 (note receivable br. 24,000 and interest
br. 500) on behalf of the Company.
Task 4.1. Prepare bank reconciliation.
Task 4.2. Pass the necessary journal entries.

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Project one

1) Prepare the bank reconciliation of September 30, 2018

2) Record journal entries of sodo plc

Balance per Bank balance=15,028.45 Add NR=10,000

Add deposit 2,400 Interest=100

Add error=3000 Less error=450

Total bank balance =14,428.45 Service charge=175

Total book balance=14,428.45

Task 1 Prepare bank reconciliation as of march 31,2015.

Task 3.2 prepare the necessary adjusting entries at December 31,2015

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