Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6,428. The reconciliation recognized the following items: 1. Deposits in transit were $3,335. 2. Outstanding checks totaled $2,612. 3. Bank service charges shown as a deduction on the bank statement were $80. 4. An NSF check from a customer for $671 was included with the bank statement. Beckett Co. had not been previously notified that the check had been returned NSF. 5. Included in the canceled checks was a check written for $770. However, it had been recorded as a disbursement of $940. Required: Prepare the Bank reconciliation statement for the month ending June 30, 2019.

Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6,428. The reconciliation recognized the following items: 1. Deposits in transit were $3,335. 2. Outstanding checks totaled $2,612. 3. Bank service charges shown as a deduction on the bank statement were $80. 4. An NSF check from a customer for $671 was included with the bank statement. Beckett Co. had not been previously notified that the check had been returned NSF. 5. Included in the canceled checks was a check written for $770. However, it had been recorded as a disbursement of $940. Required: Prepare the Bank reconciliation statement for the month ending June 30, 2019.

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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