Del Gato Clinic's cash account shows an $15,253 debit balance and its bank statement shows $14,055 on deposit at the close of business on June 30, a. Outstanding checks as of June 30 total $1,542. b. The June 30 bank statement lists a $15 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598. d. The June 30 cash receipts of $2.734 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. Bank statement balance Add: Deposit of June 30 Deduct Outstanding checks Adjusted bank balance (1,542) $ $ DEL GATO CLINIC Bank Reconciliation June 30 14,055 Book balance Add: 0 14,055 Deduct: (1,542) 12.513 Adjusted book balance $ $ 15,253 0 15,253 0 15,253

Del Gato Clinic's cash account shows an $15,253 debit balance and its bank statement shows $14,055 on deposit at the close of business on June 30, a. Outstanding checks as of June 30 total $1,542. b. The June 30 bank statement lists a $15 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598. d. The June 30 cash receipts of $2.734 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. Bank statement balance Add: Deposit of June 30 Deduct Outstanding checks Adjusted bank balance (1,542) $ $ DEL GATO CLINIC Bank Reconciliation June 30 14,055 Book balance Add: 0 14,055 Deduct: (1,542) 12.513 Adjusted book balance $ $ 15,253 0 15,253 0 15,253

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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