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Beckett Company received its bank statement for the month ending June 30, 2022, and reconciled the statement balance to the June 30, 2022, balance in the Cash account. The reconciled balance was determined to be $6,715. The reconciliation recognized the following items: 1. Deposits in transit were $3,439. 2. Outstanding checks totaled $2,740. 3. Bank service charges shown as a deduction on the bank statement were $71. 4. An NSF check from a customer for $670 was included with the bank statement Beckett Company 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, 2022

Beckett Company received its bank statement for the month ending June 30, 2022, and reconciled the statement balance to the June 30, 2022, balance in the Cash account. The reconciled balance was determined to be $6,715. The reconciliation recognized the following items: 1. Deposits in transit were $3,439. 2. Outstanding checks totaled $2,740. 3. Bank service charges shown as a deduction on the bank statement were $71. 4. An NSF check from a customer for $670 was included with the bank statement Beckett Company 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, 2022

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 16P
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Beckett Company received its bank statement for the month ending June 30, 2022, and reconciled the statement balance to the June 30, 2022, balance in the Cash account. The reconciled balance was determined to be $6,715. The reconciliation recognized the following items: 1. Deposits in transit were $3,439. 2. Outstanding checks totaled $2,740. 3. Bank service charges shown as a deduction on the bank statement were $71. 4. An NSF check from a customer for $670 was included with the bank statement. Beckett Company 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, 2022 4 Answer is not complete. BECKETT COMPANY Rank Dernnellistion
Transcribed Image Text:Beckett Company received its bank statement for the month ending June 30, 2022, and reconciled the statement balance to the June 30, 2022, balance in the Cash account. The reconciled balance was determined to be $6,715. The reconciliation recognized the following items: 1. Deposits in transit were $3,439. 2. Outstanding checks totaled $2,740. 3. Bank service charges shown as a deduction on the bank statement were $71. 4. An NSF check from a customer for $670 was included with the bank statement. Beckett Company 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, 2022 4 Answer is not complete. BECKETT COMPANY Rank Dernnellistion
Balance per bank Add: Deposits in transit Deduct Outstanding checks Reconciled balance > 3 $ 3,439 $ 2,740 (3 S WAIDWE is no compresse BECKETT COMPANY Bank Reconciliation June 30, 2022 $ 6,715 3,439 10,154 2,740 $ 7,414 Balance per books Add Check recording error Deduct Bank service charge NSF check Reconciled balance + 00 $ 170 710 670 170 170 741 $ (571)
Transcribed Image Text:Balance per bank Add: Deposits in transit Deduct Outstanding checks Reconciled balance > 3 $ 3,439 $ 2,740 (3 S WAIDWE is no compresse BECKETT COMPANY Bank Reconciliation June 30, 2022 $ 6,715 3,439 10,154 2,740 $ 7,414 Balance per books Add Check recording error Deduct Bank service charge NSF check Reconciled balance + 00 $ 170 710 670 170 170 741 $ (571)
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