6 Lisa Ceja is unable to reconcile the bank balance for her catering company on January

31. Lisa's reconciliation is as follows:

Cash balance per bank $3,660.20

Add: NSF check 590.00

Less: Bank service charge 25.00

Adjusted balance per bank $4,225.20

Cash balance per books $3,875.20

Less: Deposits in transit 530.00

Add: Outstanding checks 930.00

Adjusted balance per books $4,275.20

Determine outstanding checks.

(SO 7)

Instructions

(a) Prepare correct bank reconciliation.

(b) Journalize the entries required by the reconciliation.

10-7 On April 30, the bank reconciliation of Ottawa Travel shows three outstanding checks:

no. 254, $650; no. 255, $720; and no. 257, $410. The May bank statement and the May cash payments journal show the following:

Bank Statement

Checks Paid

Cash Payments Journal

Checks Issued

Date Check No. Amount Date Check No. Amount

5/4 254 650 5/2 258 159

5/2 257 410 5/5 259 275

5/17 258 159 5/10 260 790

5/12 259 275 5/15 261 500

5/20 261 500 5/22 262 750

5/29 263 480 5/24 263 480

5/30 262 750 5/29 264 560

Prepare bank reconciliation

and adjusting entries.

(SO 7)

Prepare bank reconciliation

and adjusting entries.

(SO 7

Using step 2 in the reconciliation procedure, list the outstanding checks on

May 31. 10-8 The following information pertains to Worthy Tours:

1. Cash balance per bank, July 31, $7,263. 2. July bank service charge not

recorded by the depositor $28. 3. Cash balance per books, July 31, $7,284. 4.

Deposits in transit, July 31, $1,500. 5. Bank collected $800 note for Worthy in July,

plus interest $36, less collection fee $20. The collection has not been recorded

by Worthy, and no interest has been accrued. 6. Outstanding checks, July 31,

$691.

Instructions(a) Prepare a bank reconciliation at July 31.(b) Journalize the

adjusting entries at July 31 on the books of Worthy Tours.