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Del Gato Clinic's cash account shows an $15,450 debit balance and its bank statement shows $14,905 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,252. b. The June 30 bank statement lists a $20 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 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 $398. d. The June 30 cash receipts of $2,786 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: Deduct: Adjusted bank balance DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Deduct: Adjusted book balance

Del Gato Clinic's cash account shows an $15,450 debit balance and its bank statement shows $14,905 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,252. b. The June 30 bank statement lists a $20 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 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 $398. d. The June 30 cash receipts of $2,786 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: Deduct: Adjusted bank balance DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Deduct: Adjusted book balance

FINANCIAL ACCOUNTING
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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Del Gato Clinic's cash account shows an $15,450 debit balance and its bank statement shows $14,905 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,252. b. The June 30 bank statement lists a $20 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 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 $398. d. The June 30 cash receipts of $2,786 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: Deduct: Adjusted bank balance DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Deduct: Adjusted book balance
Transcribed Image Text:Del Gato Clinic's cash account shows an $15,450 debit balance and its bank statement shows $14,905 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,252. b. The June 30 bank statement lists a $20 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 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 $398. d. The June 30 cash receipts of $2,786 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: Deduct: Adjusted bank balance DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Deduct: Adjusted book balance
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