A review of the March 30 bank statement and other data of Cullumber Aviation revealed a $20,752 balance at March 31 on the bank statement and $20,384 as the balance in the cash account in the company's ledger. In addition, the following information was determined: 1. 2. 3. 4. 5. 6. NSF Check from J. Beiber in payment of account $210 Collection of a customer electronic payment by the bank $2,816. Deposits in transit at March 31 $3,728. Outstanding checks at March 31 $2,232. A check written by Cullumber to Copytronics for a copy machine repair on March 13 was recorded at $1,320 but correctly cleared the bank at $1,230. A check drawn on the account of Halen Electronics for $832 was mistakenly charged against Cullumber's account by the bank.
A review of the March 30 bank statement and other data of Cullumber Aviation revealed a $20,752 balance at March 31 on the bank statement and $20,384 as the balance in the cash account in the company's ledger. In addition, the following information was determined: 1. 2. 3. 4. 5. 6. NSF Check from J. Beiber in payment of account $210 Collection of a customer electronic payment by the bank $2,816. Deposits in transit at March 31 $3,728. Outstanding checks at March 31 $2,232. A check written by Cullumber to Copytronics for a copy machine repair on March 13 was recorded at $1,320 but correctly cleared the bank at $1,230. A check drawn on the account of Halen Electronics for $832 was mistakenly charged against Cullumber's account by the bank.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:As of March 31, prepare the bank reconciliation for the month of March (omit heading). (List items that increase balance as per bank
& books first.)
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Transcribed Image Text:A review of the March 30 bank statement and other data of Cullumber Aviation revealed a $20,752 balance at March 31 on the bank
statement and $20,384 as the balance in the cash account in the company's ledger. In addition, the following information was
determined:
1.
2.
3.
4.
5.
6.
NSF Check from J. Beiber in payment of account $210
Collection of a customer electronic payment by the bank $2,816.
Deposits in transit at March 31 $3,728.
Outstanding checks at March 31 $2,232.
A check written by Cullumber to Copytronics for a copy machine repair on March 13 was recorded at $1,320 but correctly
cleared the bank at $1,230.
A check drawn on the account of Halen Electronics for $832 was mistakenly charged against Cullumber's account by the
bank.
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