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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

Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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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 Unrecorded ATM withdrawal: Bank service charge: NSF check: Error on Check No. 1624 *Funds were withdrawn by Enoch Johnson for personal use.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--
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 Unrecorded ATM withdrawal: Bank service charge: NSF check: Error on Check No. 1624 *Funds were withdrawn by Enoch Johnson for personal use.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
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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