Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance. METLOCK COMPANY Bank Reconciliation, August 31, 2025 County National Bank $ 19 $ > $ $ +9 $ 19 $ Metlock Company has just received the August 31, 2025, bank statement, which is summarized below. County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $51 interest Checks cleared during August Bank service charges Balance, August 31 Disbursements Receipts Balance $11,927 $40,991 52,918 1,324 54,242 $43,919 10,323 25 10,298 10,298 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 12,794 Disbursements in August 44,446 Receipts during August 44,555 Deposits in transit at August 31 are $4,837, and checks outstanding at August 31 total $1,337. Cash on hand at August 31 is $395. The bookkeeper improperly entered one check in the books at $146 which was written for $155 for supplies (expense); it cleared the bank during the month of August. (a) Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.

Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
icon
Related questions
Question
Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.
METLOCK COMPANY
Bank Reconciliation, August 31, 2025
County National Bank
$
19
$
>
$
$
+9
$
19
$
Transcribed Image Text:Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance. METLOCK COMPANY Bank Reconciliation, August 31, 2025 County National Bank $ 19 $ > $ $ +9 $ 19 $
Metlock Company has just received the August 31, 2025, bank statement, which is summarized below.
County National Bank
Balance, August 1
Deposits during August
Note collected for depositor, including $51 interest
Checks cleared during August
Bank service charges
Balance, August 31
Disbursements
Receipts Balance
$11,927
$40,991
52,918
1,324
54,242
$43,919
10,323
25
10,298
10,298
The general ledger Cash account contained the following entries for the month of August.
Cash
Balance, August 1
12,794 Disbursements in August 44,446
Receipts during August 44,555
Deposits in transit at August 31 are $4,837, and checks outstanding at August 31 total $1,337. Cash on hand at August 31 is $395.
The bookkeeper improperly entered one check in the books at $146 which was written for $155 for supplies (expense); it cleared the
bank during the month of August.
(a)
Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.
Transcribed Image Text:Metlock Company has just received the August 31, 2025, bank statement, which is summarized below. County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $51 interest Checks cleared during August Bank service charges Balance, August 31 Disbursements Receipts Balance $11,927 $40,991 52,918 1,324 54,242 $43,919 10,323 25 10,298 10,298 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 12,794 Disbursements in August 44,446 Receipts during August 44,555 Deposits in transit at August 31 are $4,837, and checks outstanding at August 31 total $1,337. Cash on hand at August 31 is $395. The bookkeeper improperly entered one check in the books at $146 which was written for $155 for supplies (expense); it cleared the bank during the month of August. (a) Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub