1. Prepare a bank reconciliation as of October 31, 20 Johnson Enterprises Bank Reconciliation October 31, 20
1. Prepare a bank reconciliation as of October 31, 20 Johnson Enterprises Bank Reconciliation October 31, 20
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Bank Reconciliation and Related Journal Entries
The book balance in the checking account of Johnson Enterprises as of October 31 is $5,708.40. The bank statement shows an ending balance of $5,189.00. The
following information is discovered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing
deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank
statement.
Deposits in transit:
Outstanding checks:
10/29
10/30
No. 1635
No. 1639
No. 1641
No. 1653
$225.00
395.00
55.20
178.00
136,80
432.60
200.00
32.00
489.00
Checkbook shows it was for $72, but it was actually written for $53. Accounts Payable was debited.
Unrecorded ATM withdrawal:
Bank service charge:
NSF check:
Error on Check No. 1624
*Funds were withdrawn by Enoch Johnson for personal use.
Required:
1. Prepare a bank reconciliation as of October 31, 20
Johnson Enterprises
Bank Reconciliation
October 31, 20--](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0cfa4f04-40a2-41f3-8662-9f69080778f5%2F80fdb45c-fb4a-4bc2-aaf2-3c4dfc160375%2F4rmhvy_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Bank Reconciliation and Related Journal Entries
The book balance in the checking account of Johnson Enterprises as of October 31 is $5,708.40. The bank statement shows an ending balance of $5,189.00. The
following information is discovered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing
deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank
statement.
Deposits in transit:
Outstanding checks:
10/29
10/30
No. 1635
No. 1639
No. 1641
No. 1653
$225.00
395.00
55.20
178.00
136,80
432.60
200.00
32.00
489.00
Checkbook shows it was for $72, but it was actually written for $53. Accounts Payable was debited.
Unrecorded ATM withdrawal:
Bank service charge:
NSF check:
Error on Check No. 1624
*Funds were withdrawn by Enoch Johnson for personal use.
Required:
1. Prepare a bank reconciliation as of October 31, 20
Johnson Enterprises
Bank Reconciliation
October 31, 20--
![Bank statement balance, October 31
Add: deposits in transit
No. 1635 -X
NO 1635 -X
Adjusted bank balance
Book balance, October 31
Deduct Error on Check No1624
Adjusted book balance
Fundad
1
2
3
Chuck My Mark
2. Prepare the required journal entries.
Page:
DATE
20-
Oct. 31
Bank Reconciliation
October 31, 20-
5 Oct. 31
6
7
#
90:31
22232
12
13 Ddt. 21
14
ACCOUNT TITLE
-x
Error on Check No. 1624
Bank service charge
88
Not check
Unrecorded ATM withdrawal
000
00 000 00
DOC. POST.
NO. REF.
DEBIT CREDIT
88
88](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0cfa4f04-40a2-41f3-8662-9f69080778f5%2F80fdb45c-fb4a-4bc2-aaf2-3c4dfc160375%2F2up8i5p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Bank statement balance, October 31
Add: deposits in transit
No. 1635 -X
NO 1635 -X
Adjusted bank balance
Book balance, October 31
Deduct Error on Check No1624
Adjusted book balance
Fundad
1
2
3
Chuck My Mark
2. Prepare the required journal entries.
Page:
DATE
20-
Oct. 31
Bank Reconciliation
October 31, 20-
5 Oct. 31
6
7
#
90:31
22232
12
13 Ddt. 21
14
ACCOUNT TITLE
-x
Error on Check No. 1624
Bank service charge
88
Not check
Unrecorded ATM withdrawal
000
00 000 00
DOC. POST.
NO. REF.
DEBIT CREDIT
88
88
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