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
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.1AP
Related questions
Question
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff528cbe5-8563-4fa3-8e30-57f8892c986e%2F1f69bb1c-f273-41f2-a69a-b006df83bd9d%2F1u2y7f2_processed.jpeg&w=3840&q=75)
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
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