The Cash general ledger account balance of Harry P. Inc. Ltd. was $2,531 at March 31, 2018. On this same date, the bank statement had a balance of $1,500. The following discrepancies were noted: a. A deposit of $1,000 made on March 30, 2018 was not yet recorded by the bank on the March statement. b. A customer’s cheque a
The Cash general ledger account balance of Harry P. Inc. Ltd. was $2,531 at March 31, 2018. On this same date, the bank
statement had a balance of $1,500. The following discrepancies were noted:
a. A deposit of $1,000 made on March 30, 2018 was not yet recorded by the bank on the March statement.
b. A customer’s cheque amounting to $700 and deposited on March 15 was returned NSF with the bank statement.
c. Cheque #4302 for office supplies expense, correctly made out for $125 and cleared the bank for this amount, was
recorded in the company records incorrectly as $152.
d. $20 for March service charges were recorded on the bank statement but not in the company records.
e. A cancelled cheque for $250 belonging to XYZ Corp. but charged by the bank to Harry P.Inc. was included with the
cancelled cheques returned by the bank.
f. There were $622 of outstanding cheques at March 31.
g. The bank collected a net amount of $290: $250 regarding a note receivable, interest revenue of $50, and a $10 service
charge that also is not included in the company records.
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