Reconcile the bank statement using the form below and the following information 16. 15. The checkbook balance on March 31 w $6,750.74 The bank statement balance on March 31 was $7,421.24 Outstanding checks not yet paid by the bank include 1221, $350.00, 1222, 5631.20 and 1225, $42.10. 17. 18 19 20 A $33.00 debit memo for an NSF check from a resident has not been recorded in the books Bank service charges were 59.35 A bank deposit of $310.45 was in transit on March 31.

Reconcile the bank statement using the form below and the following information 16. 15. The checkbook balance on March 31 w $6,750.74 The bank statement balance on March 31 was $7,421.24 Outstanding checks not yet paid by the bank include 1221, $350.00, 1222, 5631.20 and 1225, $42.10. 17. 18 19 20 A $33.00 debit memo for an NSF check from a resident has not been recorded in the books Bank service charges were 59.35 A bank deposit of $310.45 was in transit on March 31.

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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The following information relates to the bank account of Doug's Sky Diving Supply Store on June 30. Balance per bank statement $5,327 Balance per books as of June 30 9,265 Outstanding checks: #1007 $ 241 #1008 67 #1009 597 Deposits in transit 229 4,111 Bank service charges 98 NSF check 412 Credit memo for interest earned 16 Error: Check written and recorded by bank as $454 was subtracted from the checkbook as $445. The check was used to pay the telephone bill. Required: Prepare a bank reconciliation as of June 30. Doug's Sky Diving Supply Store Bank Reconciliation June 30, 20-- Bank statement balance $fill in the blank 1 Deduct deposits in transit: $fill in the blank 3 fill in the blank 4 fill in the blank 5 $fill in the blank 6 $fill in the blank 9 fill in the blank 11 fill in the blank 13 fill in the blank 14 Adjusted bank balance $fill in the blank 15 Book…
prepare a bank reconciliation report.
1
Beverly Hills, Inc. developed the following information in recording its bank statement for the month of November. Balance per books November 30 $22,014 Balance per bank statement November 30 $24,635 1. Checks written in November but still outstanding $1,450. 2. Checks written in October but still outstanding $1,107. 3. Deposits of November 29th and 30th not yet recorded by bank $5,496. 4. NSF check of customer, A. Lincoln, returned by bank, $704. 5. The bank statement contained an electronic funds transfer received from customer Theodora Company for $6,150 plus interest for $150. 6. Check No. 151 for $562 was correctly issued and paid by bank, but incorrectly entered in the Cash Payments Journal as $526. It was a payment made to vendor, Smith Concrete. A. Prepare a Bank Reconciliation Statement at November 30. B. For Beverly Hills, Inc. prepare the next journal entry from the bank reconciliation. C. For Beverly Hills, Inc. prepare the final journal entry from the bank…
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