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): Balance, April 1, Current Year BANK STATEMENT Checks Deposits Balance $31,500 $36,200 67,700 1,330 69,030 $45,600 23,430 330 23,100 90 23,010 23,010 Deposits during April. Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year Cash (A) April 1 Debit Balance April Deposits Credit 23,600 April Checks written 43,400 43,800 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 $6,100 (including $4,300 written before and $1,800 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April.
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): Balance, April 1, Current Year BANK STATEMENT Checks Deposits Balance $31,500 $36,200 67,700 1,330 69,030 $45,600 23,430 330 23,100 90 23,010 23,010 Deposits during April. Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year Cash (A) April 1 Debit Balance April Deposits Credit 23,600 April Checks written 43,400 43,800 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 $6,100 (including $4,300 written before and $1,800 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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P6-5 (Algo) Preparing a Bank Reconciliation and Related Journal Entries LO6-4
[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):
Balance, April 1, Current Year
BANK STATEMENT
Checks
Deposits
Balance
$31,500
$36,200
67,700
1,330
69,030
$45,600
23,430
330
90
23,100
23,010
23,010
Deposits during April
Interest collected
Checks cleared during April
NSF check-A. B. Wright
Bank service charges
Balance, April 30, Current Year
Cash (A)
April 1
Debit
Balance
April Deposits
Credit
23,600
43,400
April Checks written
43,800
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 $6,100 (including $4,300 written before and $1,800 written during April). No deposits in
transit were carried over from March, but a deposit was in transit at the end of April.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F07a2d07f-b271-4bd2-9e8a-ce7f098111e8%2F6eefa4dc-c553-4f7f-97f2-a7aa0ca61c78%2Fincieml_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
P6-5 (Algo) Preparing a Bank Reconciliation and Related Journal Entries LO6-4
[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):
Balance, April 1, Current Year
BANK STATEMENT
Checks
Deposits
Balance
$31,500
$36,200
67,700
1,330
69,030
$45,600
23,430
330
90
23,100
23,010
23,010
Deposits during April
Interest collected
Checks cleared during April
NSF check-A. B. Wright
Bank service charges
Balance, April 30, Current Year
Cash (A)
April 1
Debit
Balance
April Deposits
Credit
23,600
43,400
April Checks written
43,800
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 $6,100 (including $4,300 written before and $1,800 written during April). No deposits in
transit were carried over from March, but a deposit was in transit at the end of April.
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