Jansen Company's general ledger showed a checking account balance of $23,920 at the end of May 2016. The May 31 cash receipts of $2,350, included in the general ledger balance, were placed in the night depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated May 31, 2016, showed bank service charges of $39. All checks written by the company had been processed by the bank by May 31 and were listed on the bank statement except for checks totaling $1,900. Required: Prepare a bank reconciliation as of May 31, 2016. [Hint: You will need to compute the balance that would appear on the bank statement.] Bank Reconciliation Bank Balance to Corrected Balance Balance per bank statement Corrected cash balance Book Balance to Corrected Balance Balance per books Corrected cash balance
Jansen Company's general ledger showed a checking account balance of $23,920 at the end of May 2016. The May 31 cash receipts of $2,350, included in the general ledger balance, were placed in the night depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated May 31, 2016, showed bank service charges of $39. All checks written by the company had been processed by the bank by May 31 and were listed on the bank statement except for checks totaling $1,900. Required: Prepare a bank reconciliation as of May 31, 2016. [Hint: You will need to compute the balance that would appear on the bank statement.] Bank Reconciliation Bank Balance to Corrected Balance Balance per bank statement Corrected cash balance Book Balance to Corrected Balance Balance per books Corrected cash balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Jansen Company's general ledger showed a checking account balance of $23,920 at the end of May 2016.
The May 31 cash receipts of $2,350, included in the general ledger balance, were placed in the night
depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated
May 31, 2016, showed bank service charges of $39. All checks written by the company had been
processed by the bank by May 31 and were listed on the bank statement except for checks totaling $1,900.
Required:
Prepare a bank reconciliation as of May 31, 2016. [Hint: You will need to compute the balance that would
appear on the bank statement.]
Bank Reconciliation
Bank Balance to Corrected Balance
Balance per bank statement
Corrected cash balance
Book Balance to Corrected Balance
Balance per books
Corrected cash balance](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F10271185-5fe7-4b27-81c8-0217588c07b4%2F84893841-7bc5-4296-b8b8-3a3f066b5648%2F4f44d2_processed.png&w=3840&q=75)
Transcribed Image Text:Jansen Company's general ledger showed a checking account balance of $23,920 at the end of May 2016.
The May 31 cash receipts of $2,350, included in the general ledger balance, were placed in the night
depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated
May 31, 2016, showed bank service charges of $39. All checks written by the company had been
processed by the bank by May 31 and were listed on the bank statement except for checks totaling $1,900.
Required:
Prepare a bank reconciliation as of May 31, 2016. [Hint: You will need to compute the balance that would
appear on the bank statement.]
Bank Reconciliation
Bank Balance to Corrected Balance
Balance per bank statement
Corrected cash balance
Book Balance to Corrected Balance
Balance per books
Corrected cash balance
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