Bank Reconciliation and Related Journal Entries Required: 1. Prepare a bank reconciliation as of October 31, 20--. If required, round your answers to the nearest cent. 2. Prepare the required journal entries. If an amount box does not require an entry, leave it blank. The book balance in the checking account of Johnson Enterprises as of October 31 is $5,654.20. The bank statement shows an ending balance of $5,155.00. 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: 10/29 $209.00 10/30 398.00 Outstanding checks: No. 1635 56.10 No. 1639 178.00 No. 1641 132.30 No. 1653 435.40 Unrecorded ATM withdrawal:* 191.00 Bank service charge: 33.00 NSF check: 489.00 Error on Check No. 1624 Checkbook shows it was for $79, but it was actually written for $60. Accounts Payable was debited. *Funds were withdrawn by Enoch Johnson for personal use. Bank Reconciliation 1. Prepare a bank reconciliation as of October 31, 20--. If required, round your answers to the nearest cent. Johnson Enterprises Bank Reconciliation October 31, 20-- Bank statement balance, October 31 $fill in the blank ad7b2303afe906c_1 $fill in the blank ad7b2303afe906c_4 fill in the blank ad7b2303afe906c_6 fill in the blank ad7b2303afe906c_7 $fill in the blank ad7b2303afe906c_8 $fill in the blank ad7b2303afe906c_11 fill in the blank ad7b2303afe906c_13 fill in the blank ad7b2303afe906c_15 fill in the blank ad7b2303afe906c_17 fill in the blank ad7b2303afe906c_18 Adjusted bank balance $fill in the blank ad7b2303afe906c_19 Book balance, October 31 $fill in the blank ad7b2303afe906c_20 fill in the blank ad7b2303afe906c_22 $fill in the blank ad7b2303afe906c_23 $fill in the blank ad7b2303afe906c_25 fill in the blank ad7b2303afe906c_27 fill in the blank ad7b2303afe906c_29 fill in the blank ad7b2303afe906c_30 Adjusted book balance $fill in the blank ad7b2303afe906c_31 General Journal 2. Prepare the required journal entries. If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20-- Oct. 31 fill in the blank 54202b0edf8b045_2 fill in the blank 54202b0edf8b045_3 1 2 fill in the blank 54202b0edf8b045_5 fill in the blank 54202b0edf8b045_6 2 3 Error on Check No. 1624 3 4 4 5 31 fill in the blank 54202b0edf8b045_8 fill in the blank 54202b0edf8b045_9 5 6 fill in the blank 54202b0edf8b045_11 fill in the blank 54202b0edf8b045_12 6 7 Unrecorded ATM withdrawal 7 8 8 9 31 fill in the blank 54202b0edf8b045_14 fill in the blank 54202b0edf8b045_15 9 10 fill in the blank 54202b0edf8b045_17 fill in the blank 54202b0edf8b045_18 10 11 Bank service charge 11 12 12 13 31 fill in the blank 54202b0edf8b045_20 fill in the blank 54202b0edf8b045_21 13 14 fill in the blank 54202b0edf8b045_23 fill in the blank 54202b0edf8b045_24 14 15 NSF check
Bank Reconciliation and Related Journal Entries Required: 1. Prepare a bank reconciliation as of October 31, 20--. If required, round your answers to the nearest cent. 2. Prepare the required journal entries. If an amount box does not require an entry, leave it blank. The book balance in the checking account of Johnson Enterprises as of October 31 is $5,654.20. The bank statement shows an ending balance of $5,155.00. 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: 10/29 $209.00 10/30 398.00 Outstanding checks: No. 1635 56.10 No. 1639 178.00 No. 1641 132.30 No. 1653 435.40 Unrecorded ATM withdrawal:* 191.00 Bank service charge: 33.00 NSF check: 489.00 Error on Check No. 1624 Checkbook shows it was for $79, but it was actually written for $60. Accounts Payable was debited. *Funds were withdrawn by Enoch Johnson for personal use. Bank Reconciliation 1. Prepare a bank reconciliation as of October 31, 20--. If required, round your answers to the nearest cent. Johnson Enterprises Bank Reconciliation October 31, 20-- Bank statement balance, October 31 $fill in the blank ad7b2303afe906c_1 $fill in the blank ad7b2303afe906c_4 fill in the blank ad7b2303afe906c_6 fill in the blank ad7b2303afe906c_7 $fill in the blank ad7b2303afe906c_8 $fill in the blank ad7b2303afe906c_11 fill in the blank ad7b2303afe906c_13 fill in the blank ad7b2303afe906c_15 fill in the blank ad7b2303afe906c_17 fill in the blank ad7b2303afe906c_18 Adjusted bank balance $fill in the blank ad7b2303afe906c_19 Book balance, October 31 $fill in the blank ad7b2303afe906c_20 fill in the blank ad7b2303afe906c_22 $fill in the blank ad7b2303afe906c_23 $fill in the blank ad7b2303afe906c_25 fill in the blank ad7b2303afe906c_27 fill in the blank ad7b2303afe906c_29 fill in the blank ad7b2303afe906c_30 Adjusted book balance $fill in the blank ad7b2303afe906c_31 General Journal 2. Prepare the required journal entries. If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20-- Oct. 31 fill in the blank 54202b0edf8b045_2 fill in the blank 54202b0edf8b045_3 1 2 fill in the blank 54202b0edf8b045_5 fill in the blank 54202b0edf8b045_6 2 3 Error on Check No. 1624 3 4 4 5 31 fill in the blank 54202b0edf8b045_8 fill in the blank 54202b0edf8b045_9 5 6 fill in the blank 54202b0edf8b045_11 fill in the blank 54202b0edf8b045_12 6 7 Unrecorded ATM withdrawal 7 8 8 9 31 fill in the blank 54202b0edf8b045_14 fill in the blank 54202b0edf8b045_15 9 10 fill in the blank 54202b0edf8b045_17 fill in the blank 54202b0edf8b045_18 10 11 Bank service charge 11 12 12 13 31 fill in the blank 54202b0edf8b045_20 fill in the blank 54202b0edf8b045_21 13 14 fill in the blank 54202b0edf8b045_23 fill in the blank 54202b0edf8b045_24 14 15 NSF check
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Bank Reconciliation and Related
Required:
1. Prepare a bank reconciliation as of October 31, 20--. If required, round your answers to the nearest cent.
2. Prepare the required journal entries. If an amount box does not require an entry, leave it blank.
The book balance in the checking account of Johnson Enterprises as of October 31 is $5,654.20. The bank statement shows an ending balance of $5,155.00. 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: | 10/29 | $209.00 | ||
| 10/30 | 398.00 | |||
| Outstanding checks: | No. 1635 | 56.10 | ||
| No. 1639 | 178.00 | |||
| No. 1641 | 132.30 | |||
| No. 1653 | 435.40 | |||
| Unrecorded ATM withdrawal:* | 191.00 | |||
| Bank service charge: | 33.00 | |||
| NSF check: | 489.00 |
| Error on Check No. 1624 | Checkbook shows it was for $79, but it was actually written for $60. Accounts Payable was debited. |
*Funds were withdrawn by Enoch Johnson for personal use.
Bank Reconciliation
1. Prepare a bank reconciliation as of October 31, 20--. If required, round your answers to the nearest cent.
| Johnson Enterprises | ||
| Bank Reconciliation | ||
| October 31, 20-- | ||
| Bank statement balance, October 31 | $fill in the blank ad7b2303afe906c_1 | |
| $fill in the blank ad7b2303afe906c_4 | ||
| fill in the blank ad7b2303afe906c_6 | fill in the blank ad7b2303afe906c_7 | |
| $fill in the blank ad7b2303afe906c_8 | ||
| $fill in the blank ad7b2303afe906c_11 | ||
| fill in the blank ad7b2303afe906c_13 | ||
| fill in the blank ad7b2303afe906c_15 | ||
| fill in the blank ad7b2303afe906c_17 | fill in the blank ad7b2303afe906c_18 | |
| Adjusted bank balance | $fill in the blank ad7b2303afe906c_19 | |
| Book balance, October 31 | $fill in the blank ad7b2303afe906c_20 | |
| fill in the blank ad7b2303afe906c_22 | ||
| $fill in the blank ad7b2303afe906c_23 | ||
| $fill in the blank ad7b2303afe906c_25 | ||
| fill in the blank ad7b2303afe906c_27 | ||
| fill in the blank ad7b2303afe906c_29 | fill in the blank ad7b2303afe906c_30 | |
| Adjusted book balance | $fill in the blank ad7b2303afe906c_31 |
General Journal
2. Prepare the required journal entries. If an amount box does not require an entry, leave it blank.
| DATE | ACCOUNT TITLE | DOC. NO. |
POST. REF. |
DEBIT | CREDIT | ||
|---|---|---|---|---|---|---|---|
| 1 | 20-- Oct. 31 | fill in the blank 54202b0edf8b045_2 | fill in the blank 54202b0edf8b045_3 | 1 | |||
| 2 | fill in the blank 54202b0edf8b045_5 | fill in the blank 54202b0edf8b045_6 | 2 | ||||
| 3 | Error on Check No. 1624 | 3 | |||||
| 4 | 4 | ||||||
| 5 | 31 | fill in the blank 54202b0edf8b045_8 | fill in the blank 54202b0edf8b045_9 | 5 | |||
| 6 | fill in the blank 54202b0edf8b045_11 | fill in the blank 54202b0edf8b045_12 | 6 | ||||
| 7 | Unrecorded ATM withdrawal | 7 | |||||
| 8 | 8 | ||||||
| 9 | 31 | fill in the blank 54202b0edf8b045_14 | fill in the blank 54202b0edf8b045_15 | 9 | |||
| 10 | fill in the blank 54202b0edf8b045_17 | fill in the blank 54202b0edf8b045_18 | 10 | ||||
| 11 | Bank service charge | 11 | |||||
| 12 | 12 | ||||||
| 13 | 31 | fill in the blank 54202b0edf8b045_20 | fill in the blank 54202b0edf8b045_21 | 13 | |||
| 14 | fill in the blank 54202b0edf8b045_23 | fill in the blank 54202b0edf8b045_24 | 14 | ||||
| 15 | NSF check | 15 |
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