Prepare the bank reconciliation for ‘Splash Out The Back’ as at 29 February 2020. (5 marks)
ii. Prepare the journal entries to correct any errors made by ‘Splash Out The Back’, and to record
transactions that have not yet been entered into the business’ accounting records. (Note: The
correction of any errors relating to deposits (other than interest revenue) should be made to the
‘Sales’ account, and the correction of any errors relating to payments should be made to the
appropriate expense or asset account). As ‘Splash Out The Back’ is registered for GST, you must
account for GST when preparing these journal entries. (Note: all sales and all expenses (apart
from interest received and bank fees paid) are subject to GST). (4 marks)
iii. Prepare the ‘bank’ T-account for February 2020, in order to determine the balance in this ledger
account after the above journal entries have been recorded and posted.
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