Use the following information for the Exercises 12-13 below. (Algo)Skip to question [The following information applies to the questions displayed below.]Del Gato Clinic's cash account shows an $13,547 debit balance and its bank statement shows $13,143 on deposit at the close of business on June 30.Outstanding checks as of June 30 total $2,588.The June 30 bank statement lists a $55 bank service charge.Check No. 919, listed with the canceled checks, was correctly drawn for $789 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $798.The June 30 cash receipts of $2,946 were placed in the bank’s night depository after banking hours and were not recorded on the June 30 bank statement.Prepare any necessary journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation.

Bank reconciliation is a process of matching the bank passbook balance with the cash book maintained…

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Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...

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Use the following information for the Exercises 12-13 below. (Algo)

Skip to question

[The following information applies to the questions displayed below.]

Del Gato Clinic's cash account shows an $13,547 debit balance and its bank statement shows $13,143 on deposit at the close of business on June 30.

Outstanding checks as of June 30 total $2,588.
The June 30 bank statement lists a $55 bank service charge.
Check No. 919, listed with the canceled checks, was correctly drawn for $789 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $798.
The June 30 cash receipts of $2,946 were placed in the bank’s night depository after banking hours and were not recorded on the June 30 bank statement.

Prepare any necessary journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation.

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