Bank Reconciliation and Related Journal Entries The book balance in the checking account of Johnson Enterprises as of October 31 is $5,690.00. The bank statement shows an ending balance of $5,176.00. 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 $215.00 10/30 410.00 Outstanding checks: No. 1635 56.40 No. 1639 175.00 No. 1641 131.30 No. 1653 447.30 Unrecorded ATM withdrawal: 200.00 Bank service charge: 36.00 NSF check: 478.00 Error on Check No. 1624 Checkbook shows it was for $76, but it was actually written for $61. Accounts Payable was debited. *Funds were withdrawn by Enoch Johnson for personal use. Required: 1. Prepare a bank reconciliation as of October 31, 20--.

Bank Reconciliation and Related Journal Entries The book balance in the checking account of Johnson Enterprises as of October 31 is $5,690.00. The bank statement shows an ending balance of $5,176.00. 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 $215.00 10/30 410.00 Outstanding checks: No. 1635 56.40 No. 1639 175.00 No. 1641 131.30 No. 1653 447.30 Unrecorded ATM withdrawal: 200.00 Bank service charge: 36.00 NSF check: 478.00 Error on Check No. 1624 Checkbook shows it was for $76, but it was actually written for $61. Accounts Payable was debited. *Funds were withdrawn by Enoch Johnson for personal use. Required: 1. Prepare a bank reconciliation as of October 31, 20--.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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