Prepare its bank reconciliation using the above information.Del Gato Clinic's cash account shows an $13,547 debit balance and its bank statement shows $13,143 on deposit at the close of business on June 30.Outstanding checks as of June 30 total $2,588.The June 30 bank statement lists a $55 bank service charge.Check No. 919, listed with the canceled checks, was correctly drawn for $789 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $798.The June 30 cash receipts of $2,946 were placed in the bank’s night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-12 (Algo) Bank reconciliation LO P3Prepare its bank reconciliation using the above information.Bank statement balanceAdd:Deduct:Outstanding checksAdjusted bank balance2,588$DEL GATO CLINICBank ReconciliationJune 3013,143 Book balanceAdd:013,143Deduct:Bank service charge2,588$ 10,555 Adjusted book balance55:$13,547013,5475513,492

Bank reconciliation is a statement prepared to find out the causes of the difference between the…

Answered: Prepare its bank reconciliation using…

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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Prepare its bank reconciliation using the above information.

Del Gato Clinic's cash account shows an $13,547 debit balance and its bank statement shows $13,143 on deposit at the close of business on June 30.

Outstanding checks as of June 30 total $2,588.
The June 30 bank statement lists a $55 bank service charge.
Check No. 919, listed with the canceled checks, was correctly drawn for $789 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $798.
The June 30 cash receipts of $2,946 were placed in the bank’s night depository after banking hours and were not recorded on the June 30 bank statement.

Exercise 6-12 (Algo) Bank reconciliation LO P3
Prepare its bank reconciliation using the above information.
Bank statement balance
Add:
Deduct:
Outstanding checks
Adjusted bank balance
2,588
$
DEL GATO CLINIC
Bank Reconciliation
June 30
13,143 Book balance
Add:
0
13,143
Deduct:
Bank service charge
2,588
$ 10,555 Adjusted book balance
55:
$
13,547
0
13,547
55
13,492

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