Question: 114 Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,160 Deposits during June Checks cleared during June $ 18,900 Bank service charges Balance, June 30 Cash (A) $ 17,800 $ 24,960 $ 6,060 $ 30 $ 6,030 $ 6,030 $18,600 $19,200 Checks written June June 1 Balance $ 7,160 June Deposits June 30 Balance $ 6,560 Required: Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but the deposit is in transit at the end of June.
Question: 114 Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,160 Deposits during June Checks cleared during June $ 18,900 Bank service charges Balance, June 30 Cash (A) $ 17,800 $ 24,960 $ 6,060 $ 30 $ 6,030 $ 6,030 $18,600 $19,200 Checks written June June 1 Balance $ 7,160 June Deposits June 30 Balance $ 6,560 Required: Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but the deposit is in transit at the end of June.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 5.4.3P
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