Melissa Jackson, bookkeeper for Kinko Company, cannot prepare a bank reconciliation. The bank statement showed a $3,248.87 balance. Melissa's checkbook showed a $3,420.12 balance. Melissa placed a $522.80 deposit in the bank's night depository on June 30. The deposit did not appear on the bank statement. The bank included two DMs and one CM with the returned checks: $887.05 DM for NSF check, $13.60 DM for service charges, and $488.30 CM (less $18.00 collection fee) for collecting a $488.30 non-interest-bearing note. Check No. 811 for $143.10 and check No. 912 for $109.50, both written and recorded on June 28, were not with the returned checks. The bookkeeper had correctly written check No. 884, $1,310.00, for a new cash register, but she recorded the check as $1,472.00. The May bank reconciliation showed check No. 748 for $367.30 and check No. 710 for $251.30 as outstanding. The June bank statement included check No. 710 but not check No. 748. Complete the June 30, 2015, reconciliation. (Input all amounts as positive values. Round your answers to 2 decimal places.) Kinko's checkbook balance Add: Collection on notes receivable $ 488.30 $ 3,420.12 Bank balance Add: Deposit in transit $ 3,248.87 522.80

Melissa Jackson, bookkeeper for Kinko Company, cannot prepare a bank reconciliation. The bank statement showed a $3,248.87 balance. Melissa's checkbook showed a $3,420.12 balance. Melissa placed a $522.80 deposit in the bank's night depository on June 30. The deposit did not appear on the bank statement. The bank included two DMs and one CM with the returned checks: $887.05 DM for NSF check, $13.60 DM for service charges, and $488.30 CM (less $18.00 collection fee) for collecting a $488.30 non-interest-bearing note. Check No. 811 for $143.10 and check No. 912 for $109.50, both written and recorded on June 28, were not with the returned checks. The bookkeeper had correctly written check No. 884, $1,310.00, for a new cash register, but she recorded the check as $1,472.00. The May bank reconciliation showed check No. 748 for $367.30 and check No. 710 for $251.30 as outstanding. The June bank statement included check No. 710 but not check No. 748. Complete the June 30, 2015, reconciliation. (Input all amounts as positive values. Round your answers to 2 decimal places.) Kinko's checkbook balance Add: Collection on notes receivable $ 488.30 $ 3,420.12 Bank balance Add: Deposit in transit $ 3,248.87 522.80

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 1PB

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