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Incomplete records

3.5 Cash and bank summaries

It is common for questions on incomplete records to commence with a summary of
the cash and bank transactions. Such a summary is called a receipts and
payments account. Very often there is a missing figure in these. Preparing such a
summary enables the missing figure to be determined.

This can be simplified using the following ledger accounts.

Cash at bank
Date Details $ Date Details $
Cash paid to
01 Jan Balance b/d X In year suppliers X
Cash received from
In year customers X In year Expenses X
Bankings from cash
In year at hand X In year Money stolen X
In year Sundry income X In year Drawings X
31 Dec Balance c/d X
––– –––
X X

Cash at hand

Dr $ Cr $
01 Jan Balance b/d X In year Cash purchases X
In year Cash sales X In year Cash expenses X
Sundry other
In year receipts X In year Cash banked X
In year Money stolen X
In year Cash drawings X
31 Dec Balance c/d X
––– –––
X X

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