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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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
Less:
Collection fee
Subtotal
Error in recording check No. 884
Total
Deduct:
NSF check
Service charge
Subtotal
Reconciled balance
$ 488.30
$
18.00
887.05
13.60
$ 3,420.12
470.30
162.00
$ 4,052.42
900.65
$ 3,151.77
< Prev
Bank balance
Add:
Total
Deposit in transit
7 of 7
Deduct:
Outstanding checks (total)
Outstanding checks (total)
Outstanding checks (total)
Reconciled balance
‒‒‒
Next >
$ 3,248.87
522.80
$ 3,771.67
143.10
109.00
367.30
$ 3,151.77
my work](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7fab682a-14bb-4ada-bfbf-13280b3a52b9%2F01756e7b-6476-4bdb-ab4a-9f72744b485a%2Fo7z366_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
Less:
Collection fee
Subtotal
Error in recording check No. 884
Total
Deduct:
NSF check
Service charge
Subtotal
Reconciled balance
$ 488.30
$
18.00
887.05
13.60
$ 3,420.12
470.30
162.00
$ 4,052.42
900.65
$ 3,151.77
< Prev
Bank balance
Add:
Total
Deposit in transit
7 of 7
Deduct:
Outstanding checks (total)
Outstanding checks (total)
Outstanding checks (total)
Reconciled balance
‒‒‒
Next >
$ 3,248.87
522.80
$ 3,771.67
143.10
109.00
367.30
$ 3,151.77
my work
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