Hills Company's June 30 bank statement and the June ledger account for cast BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 June 1 June June 30 Debit Balance Deposits Balance 5-5 (Static) Part 1 $19,100 Cash (A) 6,800 19,000 6,400 Deposits $ 18,000 Credit 19,400 Checks written Other $.30 June Balance $ 7,200 25,200 6,100 6,070 6,070 Required: Prepare a bank reconciliation A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $700. 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

Hills Company's June 30 bank statement and the June ledger account for cast BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 June 1 June June 30 Debit Balance Deposits Balance 5-5 (Static) Part 1 $19,100 Cash (A) 6,800 19,000 6,400 Deposits $ 18,000 Credit 19,400 Checks written Other $.30 June Balance $ 7,200 25,200 6,100 6,070 6,070 Required: Prepare a bank reconciliation A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $700. 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

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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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Hills Company's June 30 bank statement and the June ledger account for cash
BANK STATEMENT
Checks
Balance, June 1
Deposits during June
Checks cleared during June
Bank service charges
Balance, June 30
June 1
June
June 30
Debit
Balance
Deposits
Balance
E5-5 (Static) Part 1
$ 19,100
Cash (A)
6,800
19,000
6,400
Deposits
$ 18,000
Credit
19,400 Checks written
Other
$ 30
June
Balance
$ 7,200
25,200
6,100
6,070
6,070
Required:
1. Prepare a bank reconciliation A comparison of the checks written with the checks that have cleared the bank shows outstanding
checks of $700. 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

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