On August 31, Bronski and Company receives its bank state¬

ment. The company deposits its receipts in the bank and makes all payments by check. The debit memo for $49 is for an NSF check written by N. Collins. Check no. 924 for $37, payable to Johnson Company (a creditor), was recorded in the checkbook and journal as $73.

The balance of the Cash account as of August 31 is $1,237. Outstanding checks as of August 31 are: no. 928, $119; no. 929, $243. The accountant notes that the deposit of August 31 for $261 did not appear on the bank statement.

P.O. 2,3 Instructions

, 111- Adjusted ledger balance of cash, 1. Prepare a bank reconciliation as of August 31, assuming that the debit memos $1,222 have not been recorded.

2. Record the necessary journal entries.

3. Complete the bank form to determine the adjusted balance of cash.

Instructions for General Ledger Software 1. Prepare a bank reconciliation as of August 31. Errors made by the company or the bank, as well as service charges, must be entered as debit or credit memos.
2. Print the bank reconciliation.
3. Record the necessary journal entries.
4. Print the journal entries.
Problem Set B

Transcribed Image Text:

PEABODY NATIONAL BANK Bronski and Company 416 Seneca Avenue Kansas City, Missouri 64102 ACCOUNT NO. 152-6 55-217 STATEMENT DATE August 1-31, 19- SUMMARY Balance Last Statement Amount of Checks and Debits Number of Checks $ 961.00 $2,289.00 11 Amount of Deposits and Credits $2,651.00 Number of Deposits Balance This Statement 7 $1,323.00 CHECKS CHECKS CHECK NUMBER DATE POSTED AMOUNT CHECK NUMBER DATE POSTED AMOUNT OTHER DEBITS 917 8-04 172.00 923 8-09 621.00 918 8-04 76.00 924 8-17 37.00 919 8-05 146.00 925 8-17 14.00 920 8-07 206.00 926 8-23 533.00 921 8-07 139.00 927 8-28 94.00 922 8-08 200.00 OTHER DEBITS DESCRIPTION DM NSF check DM Service charge DEPOSITS DATE POSTED AMOUNT DATE POSTED AMOUNT DEPOSITS OTHER CREDITS 8-02 326.00 8-18 419.00 8-05 412.00 8-24 398.00 8-09 437.00 8-28 291.00 8-14 368.00 DATE POSTED AMOUNT 8-31 49.00 8-31 2.00