Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT ChecksDepositsOtherBalanceBalance, June 1 $7,220 Deposits during June $18,100 25,320 Checks cleared during June$19,200 6,120 Bank service charges $40 6,080 Balance, June 30 6,080 Cash (A)June 1Balance7,220 JuneDeposits19,20019,500Checks writtenJuneJune 30Balance6,920 Required:Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. How would i fill out the bank reconcilliation for this problem?

The bank reconciliaion statement can be made in the following manner :

Answered: Hills Company’s June 30 bank statement…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 5.4.3P

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Question

Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here:

BANK STATEMENT
	Checks	Deposits	Other	Balance
Balance, June 1								$	7,220
Deposits during June				$	18,100				25,320
Checks cleared during June	$	19,200							6,120
Bank service charges						$	40		6,080
Balance, June 30									6,080

Cash (A)
June 1	Balance	7,220
June	Deposits	19,200	19,500	Checks written	June
June 30	Balance	6,920

Required:

Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June.

How would i fill out the bank reconcilliation for this problem?

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