Below information are:At December 31, cash per company records was $17445; the cash per bank statement was$15981.Debit memoranda accompanied the bank statement; services charges for the December $24 and a $600 check drawn by Michel marked NSF.Cash receipts of $4353 on December 31 were not deposited until January 2.Checks issued in December but were not included among the paid checks returned by the bank, no.520 for $978, no.521 for $2052 and no.522 for $483. Instructions:a) Prepared a bank reconciliation statement at December 31, 2020.b) Assume that the company normally is not required to pay if maintains minimum $1000 balance, and if the average balance for December had been $4500, why did it have to pay $24 service charges Below information are:1. At December 31, cash per company records was $17445; the cash per bankstatement was$15981.2. Debit memoranda accompanied the bank statement; services charges for theDecember $24 and a $600 check drawn by Michel marked NSF.3. Cash receipts of $4353 on December 31 were not deposited until January 2.4. Checks issued in December but were not included among the paid checksLreturned by the bank, no.520 for $978, no.521 for $2052 and no.522 for $483.Instructions:a) Prepared a bank reconciliation statement at December 31, 2020.b) Assume that the company normally is not required to pay if maintains minimum$1000 balance, and if the average balance for December had been $4500, why did ithave to pay $24 service charges?

Solution A- Bank reconciliation…

Answered: Below information are: At December 31,…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 4PA

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Below information are:

At December 31, cash per company records was $17445; the cash per bank statement was$15981.

Debit memoranda accompanied the bank statement; services charges for the December $24 and a $600 check drawn by Michel marked NSF.

Cash receipts of $4353 on December 31 were not deposited until January 2.

Checks issued in December but were not included among the paid checks returned by the bank, no.520 for $978, no.521 for $2052 and no.522 for $483.

Instructions:

a) Prepared a bank reconciliation statement at December 31, 2020.

b) Assume that the company normally is not required to pay if maintains minimum $1000 balance, and if the average balance for December had been $4500, why did it have to pay $24 service charges

Below information are:
1. At December 31, cash per company records was $17445; the cash per bank
statement was$15981.
2. Debit memoranda accompanied the bank statement; services charges for the
December $24 and a $600 check drawn by Michel marked NSF.
3. Cash receipts of $4353 on December 31 were not deposited until January 2.
4. Checks issued in December but were not included among the paid checks
L
returned by the bank, no.520 for $978, no.521 for $2052 and no.522 for $483.
Instructions:
a) Prepared a bank reconciliation statement at December 31, 2020.
b) Assume that the company normally is not required to pay if maintains minimum
$1000 balance, and if the average balance for December had been $4500, why did it
have to pay $24 service charges?

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