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:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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 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 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)
Apr. Checks written
Apr. 1
Apr. Deposits
Balance
23,600
41,800
41,400
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.
Required:
1. Prepare a detailed bank reconciliation for April.
JEFFERSON COMPANY
Bank Reconciliation, April 30, Current Year
Company's Books
Bank Statement
Ending balance per cash account
Ending balance per bank statement
Additions:
Additions:
Deductions:
Deductions:
Correct cash balance
Correct cash balance](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8634aa5a-0395-4ed9-8346-75b455f23a74%2F005bee7a-4fc8-47a8-8727-988e86fe4784%2F20vsyzr_processed.png&w=3840&q=75)
Transcribed Image Text: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 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 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)
Apr. Checks written
Apr. 1
Apr. Deposits
Balance
23,600
41,800
41,400
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.
Required:
1. Prepare a detailed bank reconciliation for April.
JEFFERSON COMPANY
Bank Reconciliation, April 30, Current Year
Company's Books
Bank Statement
Ending balance per cash account
Ending balance per bank statement
Additions:
Additions:
Deductions:
Deductions:
Correct cash balance
Correct cash balance
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