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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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.
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