Required information [The following information applies to the questions displayed below.] Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance $ 7,200 25,200 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $18,000 $19,100 6,100 6,070 6,070 $30 Cash (A) 6,800 June 1 Balance June Deposits 19,000 19,400 Checks written June June 30 Balance 6,400
Required information [The following information applies to the questions displayed below.] Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance $ 7,200 25,200 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $18,000 $19,100 6,100 6,070 6,070 $30 Cash (A) 6,800 June 1 Balance June Deposits 19,000 19,400 Checks written June June 30 Balance 6,400
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.4E
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Question

Transcribed Image Text:1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding
checks of $700. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a
deposit is in transit at the end of June.
HILLS COMPANY
Bank Reconciliation
June 30
Bank Statement
Company's Books
Ending Balance per Bank Statement
Ending Balance per Cash Account
Additions:
Additions:
Deductions:
Deductions:
Up-to-Date Cash Balance
Up-to-Date Cash Balance
![Required information
[The following information applies to the questions displayed below.]
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here:
BANK STATEMENT
Checks
Deposits Other Balance
$ 7,200
25,200
Balance, June 1
Deposits during June
Checks cleared during June
Bank service charges
Balance, June 30
$18,000
$19,100
6,100
6,070
6,070
$30
Cash (A)
June 1
Balance
6,800
June
Deposits
19,000
19,400
Checks written June
June 30
Balance
6,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8ad87420-52d2-4e34-815e-eb9bcb5c95c0%2Fa2d668a6-736f-4d5b-9422-f4278d34bfe3%2Fx3blme8_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here:
BANK STATEMENT
Checks
Deposits Other Balance
$ 7,200
25,200
Balance, June 1
Deposits during June
Checks cleared during June
Bank service charges
Balance, June 30
$18,000
$19,100
6,100
6,070
6,070
$30
Cash (A)
June 1
Balance
6,800
June
Deposits
19,000
19,400
Checks written June
June 30
Balance
6,400
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