JUNE BANK STATEMENTMember PDICACCOUNT NUMBERFABFIRST NATIONAL BANKMontilla Blvd, Butuan Citytel. no. 342-6778From 6/01/2021 to 6/30/2021Balance9,447.20DepositsWithdrawals8,691.777,599.26BEELER FURNITURE COMPANYOther Debits andCredits3,085.00 CRNEW BALANCE13,624.71CHECKS AND OTHER DEBITS--DEPOSITS- -- DATEBALANCE9,629.356/016/026/046/096/096/096/116/166/186/236/256/286/30No.731162.15No.736345.95690.2573960.55740237.501080.5010,411.80741495.15742501.90854.1710,268.92743671.30744506.88840.509,931.24117.25298.66 MS 3500.0013,015.33745746748450.90749640.13 MS210.0012,134.3012,454.7712,419.7613,304.00750276.77751299.37896.61752537.01753380.95882.95754449.75755272.751606.74757407.95760486.39897.3413,307.00942.7114,249.71NSF550.0013,699.71SC75.0013,624.71EC -- ERROR CORRECTIONOD-- OVERDRAFTMS --MISCELLANEOUSPS -- PAYMENT STOPPEDNSF-- NOT SUFFICIENT FUNDSSC-- SERVICE CHARGETHE RECONCILEMENT OF THIS STATEMENT WITH YOUR RECORDS IS ESSENTIAL.ANY ERROR OR EXCEPTION SHOULD BE REPORTED IMMEDIATELY. BANK RECONCILIATIONBeeler Furniture Company deposits all cash receipts each Wednesday and Friday in nightdepository, after banking hours. The data required to reconcile the bank statement as ofJune 30 have been taken from various documenta and records and are reproduced asfollows. The sources of the data are printed in capital letters. All checks were written forpayments on account.CASH ACCOUNT:Balance as of June 1CASH RECEIPTS FOR THE MONTH OF JUNEDUPLICATE DEPOSIT TICKETS:Date and amount of each deposit in JuneDateJuneAmount1,080.50DateAmountDateAmountJune 10996.61June 2.897.343.854.1715882.9524947.218.840.50171606.74301117.74CHECKS WRITTEN:Number and amount of each check issued in June:Check No. AmountCheck No. Amount747Check Nc Amount449.75740237,50Void754495.15755272.75113.95407.95741748450.90742501.90749640.13756750743744761.30506.88276.77757758759259.60751752299.37901.50486.39537.01745746117.25298.66753380.95760Total amount of checks issued in June8,395.66BANK RECONCILIATION FOR PRECEDING MONTH:Beeler Furniture CompanyBank ReconciliationMay 31, 2021Cash balance according to bank statementAdd: Deposit for May 31, not recorded by bank9,447.20690.2510,137.45Deduct outstanding checks:No.162.15731345.95736738739251.4060.55820.059,317.40Adjusted balanceCash balance according to company recordsDeduct service charge9,352.5035.109,317.40Instructions:1 Prepare a bank reconciliation as of June 30. If errors in recordingdeposits or checks are discovered, assume that the errors were made bythe company. Assume that all deposits are from cash sales. All checks arewritten to satisfy accounts payable.2 Journalize the necessary entries. The accounts have not been closed.3 What is the amount of Cash that should appear on the balance sheet as of June 30?

Bank reconciliation statement is prepared to reconcile the differences in the balance as per books…

Instructions: 1 Prepare a bank reconciliation as of June 30. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. 2 Journalize the necessary entries. The accounts have not been closed. 3 What is the amount of Cash that should appear on the balance sheet as of June 30?

Instructions: 1 Prepare a bank reconciliation as of June 30. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. 2 Journalize the necessary entries. The accounts have not been closed. 3 What is the amount of Cash that should appear on the balance sheet as of June 30?

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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