BANK STATEMENT Other Checks Deposits Balance $ 48,000 48, 380 67,830 53,930 89,930 88,97e 88,470 88,520 88, 370 Date Dec. 1 6 $ 7,620 55e $28, 000 13,900 11 17 23 36, e0e 26 960 19, 200 зе 19,e0e NSF $300 se 31 Interest earned Service charge 15e *NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance Deposits Dec. 11 48, eee 28, e00 36, eee 19,e00 13, eee Checks written during December: 7,620 5se 13,900 960 23 30 31 15e 19,200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. Prepare any journal entries that the company should make as a resuit of the bank reconcilia transaction/event, select "No Journal Entry Required" In the first account fleld.)

BANK STATEMENT Other Checks Deposits Balance $ 48,000 48, 380 67,830 53,930 89,930 88,97e 88,470 88,520 88, 370 Date Dec. 1 6 $ 7,620 55e $28, 000 13,900 11 17 23 36, e0e 26 960 19, 200 зе 19,e0e NSF $300 se 31 Interest earned Service charge 15e *NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance Deposits Dec. 11 48, eee 28, e00 36, eee 19,e00 13, eee Checks written during December: 7,620 5se 13,900 960 23 30 31 15e 19,200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. Prepare any journal entries that the company should make as a resuit of the bank reconcilia transaction/event, select "No Journal Entry Required" In the first account fleld.)

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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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

BANK STATEMENT
Date
Checks
Deposits
Other
Balance
$ 48,000
40, 380
67,830
53,930
৪9,938
৪৪, 978
88,470
88,520
88,370
Dec. 1
$ 7,620
550 $28, 0e
13,900
11
17
23
36, e00
26
960
30
19,200
19, e00
NSF*
$300
Interest earned
Service charge
31
50
31
150
NSF check from J. Left, a customer.
Cash (A)
Dec. 1 Balance
48, 000
Deposits
Checks written during December:
7,620
550
28, e00
36, 000
19,000
13,e00
Dec. 11
23
13,900
960
30
31
150
19, 200
4,500
Dec. 31 Balance
97,128
There were no deposits in transit or outstanding checks at November 30.
4. Prepare any journal entries that the company should make as a resuit of the bank reconciliatio
transaction/event, select "No Journal Entry Required" In the first account fleld.)
View transaction list
Journal entry worksheet
B C D E
A
Record the interest of $50 received from the bank.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
1
Record entry
Clear entry
View general journal

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