Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June 30: 1 Balance per Cash account, June 30. 2 Balance per bank statement, June 30. 3 Deposits not reflected on bank statement. 4 Outstanding checks, June 30. 5 Service charge on bank statement not recorded in books. 6 Error by bank-Yertel Company check charged on Young Company's bank statement. 7 Check for advertising expense incorrectly recorded in books as Ending Balance from bank statement Add: Deposits not credited by bank Add Bank error- Yertal Company check Note: Do not round answers-enter using two decimal places, when needed. YOUNG COMPANY Bank Reconciliation June 30 0x Balance from general ledger 0 Add: Check recort 0 charged against Young Company's account Less: Outstanding checks Reconciled cash balance. ✔ $7,039.80 $7,300.25 $950 $1,260.45 $35 4 $375 $260 $620 0x x Less: Service charge 0x Reconciled cash balance. Ox 0x ✔ 4 0x ox 0x ON
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June 30: 1 Balance per Cash account, June 30. 2 Balance per bank statement, June 30. 3 Deposits not reflected on bank statement. 4 Outstanding checks, June 30. 5 Service charge on bank statement not recorded in books. 6 Error by bank-Yertel Company check charged on Young Company's bank statement. 7 Check for advertising expense incorrectly recorded in books as Ending Balance from bank statement Add: Deposits not credited by bank Add Bank error- Yertal Company check Note: Do not round answers-enter using two decimal places, when needed. YOUNG COMPANY Bank Reconciliation June 30 0x Balance from general ledger 0 Add: Check recort 0 charged against Young Company's account Less: Outstanding checks Reconciled cash balance. ✔ $7,039.80 $7,300.25 $950 $1,260.45 $35 4 $375 $260 $620 0x x Less: Service charge 0x Reconciled cash balance. Ox 0x ✔ 4 0x ox 0x ON
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Bank Reconciliation
Use the following information to prepare a bank reconciliation for Young Company at June 30;
1 Balance per Cash account, June 30.
2 Balance per bank statement, June 30.1
3 Deposits not reflected on bank statement.
4 Outstanding checks, June 30.
5 Service charge on bank statement not recorded in books.
6 Error by bank-Yertel Company check charged on
Young Company's bank statement.
7 Check for advertising expense
incorrectly recorded in books as
Ending Balance from bank statement
Add: Deposits not credited by bank
Add Bank error Yertal Company check
Note: Do not round answers-enter using two decimal places, when needed.
YOUNG COMPANY
Bank Reconciliation
June 30
0x Balance from general ledger
0x Add: Check
recort
+
charged against Young Company's account
Less: Outstanding checks
Reconciled cash balance.
$7,039,80
$7,300.25
$950
$1,260.45
$35
+ ✔
:
4
$375
$260
$620
0x
x Less: Service charge
0x Reconciled cash balance
0x
0x
S
:
:4
✓
0x
0x
0x
Ox
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education