Required information[The following information applies to the questions displayed below.]The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don'thave time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper.The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized):BANK STATEMENTChecksDepositsBalanceBalance, April 1, Current YearDeposits during AprilInterest collected$32,10069,80071,05025,85025,51025,41025,410$37,7001,250Checks cleared during AprilNSF check-A. B. WrightBank service chargesBalance, April 30, Current Year$45,200340100Cash (A)Apr. Checks writtenApr. 1Apr. DepositsBalance23,60041,80041,400A comparison of checks written before and during April with the checks cleared through the bank showed outstandingchecks at the end of April of $4,700 (including $2,820 written before and $1,880 written during April). No deposits intransit were carried over from March, but a deposit was in transit at the end of April.Required:1. Prepare a detailed bank reconciliation for April.JEFFERSON COMPANYBank Reconciliation, April 30, Current YearCompany's BooksBank StatementEnding balance per cash accountEnding balance per bank statementAdditions:Additions:Deductions:Deductions:Correct cash balanceCorrect cash balance

The bank reconciliation statement is prepared to adjust the balance of cash book and passbook with…

Required information [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, “I don't have time." You have been asked to prepare a reconiliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance Balance, April 1, current Year Deposits during April Interest collected $32,100 69,800 71,050 25,850 25,510 25,410 25,410 $37,700 1,250 Checks cleared during April Nsf check-A. B. Wright Bank service charges Balance, April 30, Current Year $45,200 340 100 Cash (A) 41,400 Apr. 1 Balance Apr. Deposits 23,600 |Apr. Checks written 41,800 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,700 (including $2,820 written before and $1,880 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. Reguirod:

Required information [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, “I don't have time." You have been asked to prepare a reconiliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance Balance, April 1, current Year Deposits during April Interest collected $32,100 69,800 71,050 25,850 25,510 25,410 25,410 $37,700 1,250 Checks cleared during April Nsf check-A. B. Wright Bank service charges Balance, April 30, Current Year $45,200 340 100 Cash (A) 41,400 Apr. 1 Balance Apr. Deposits 23,600 |Apr. Checks written 41,800 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,700 (including $2,820 written before and $1,880 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. Reguirod:

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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