Bell Food Store developed the following information in recording its bank statement for the month of March. Balance per books March 31 $3,664 Balance per bank statement March 31 $10,900 (1) Checks written in March but still outstanding $7,000. (2) Checks written in February but still outstanding $3,100. (3) Deposits of March 30 and 31 not yet recorded by bank $5,200. (4) NSF check of customer returned by bank $1,200. (5) Check No. 210 for $593 was correctly issued and paid by bank but incorrectly entered in the cash payments jo payment on account for $539. (6) Bank service charge for March was $50. A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payabl ledger for $824 when Check No. 318 was correctly prepared for $284. The check cleared the bank in March. (7) (8) The bank collected a note receivable for the company for $3,000 plus $100 interest revenue.
Bell Food Store developed the following information in recording its bank statement for the month of March. Balance per books March 31 $3,664 Balance per bank statement March 31 $10,900 (1) Checks written in March but still outstanding $7,000. (2) Checks written in February but still outstanding $3,100. (3) Deposits of March 30 and 31 not yet recorded by bank $5,200. (4) NSF check of customer returned by bank $1,200. (5) Check No. 210 for $593 was correctly issued and paid by bank but incorrectly entered in the cash payments jo payment on account for $539. (6) Bank service charge for March was $50. A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payabl ledger for $824 when Check No. 318 was correctly prepared for $284. The check cleared the bank in March. (7) (8) The bank collected a note receivable for the company for $3,000 plus $100 interest revenue.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:$
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
Transcribed Image Text:Bell Food Store developed the following information in recording its bank statement for the month of March.
Balance per books March 31
$3,664
Balance per bank statement March 31
$10,900
(1)
Checks written in March but still outstanding $7,000.
(2)
Checks written in February but still outstanding $3,100.
(3)
Deposits of March 30 and 31 not yet recorded by bank $5,200.
(4)
NSF check of customer returned by bank $1,200.
(5)
Check No. 210 for $593 was correctly issued and paid by bank but incorrectly entered in the cash payments journal as
payment on account for $539.
(6)
Bank service charge for March was $50.
(7)
A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payable subsidiary
ledger for $824 when Check No. 318 was correctly prepared for $284. The check cleared the bank in March.
(8)
The bank collected a note receivable for the company for $3,000 plus $100 interest revenue.
Prepare a bank reconciliation at March 31. (List items that increase cash balance first.)
BELL FOOD STORE
Bank Reconciliation
March 31
%24
>
>
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