aa. Prepare a bank reconciliation to the correct balance as at June 30, 2020, for Pharoah Company. (List items that increase balance as per bank & books first.)
Information follows for Pharoah Company: $30,929.08 Pharoah Company Bank Reconciliation May 31, 2020 Balance per bank statement Less: Outstanding cheques No. 6124 $2,145 No. 6138 933.45 No. 6139 960.00 No. 6140 1,410 5,448.45 25,480.63 4,705.28 Add deposit in transit Balance per books (correct balance) $30,185.91 Discount Date June 1 1 Cash $239.50 935.70 120.50 $9.30 2.30 8 9 306.00 10 89.98 CHEQUE REGISTER-JUNE Invoice Payee No. Amount Bren Mfg. 6141 $ 239.50 Stempy Mfg. 6142 945 Shamrock, Inc. 6143 122.80 Bren Mfg. 6144 306.00 Petty Cash 6145 89.98 Pretty Babies Photo 6146 703 Hey Dude Publishing 6147 448.00 Payroll Account 6148 4,115 Metlock Inc. 6149 393.90 Be Smart Construction 6151 2,220 Skysong, Inc. 6152 735 Cullumber Company 6153 360 $10,678.18 17 14.22 688.78 22 23 448.00 4,115 389.90 2,220 25 4.00 28 29 735 30 9 351 $38.82 $10,639.36 PROVINCIAL BANK Bank Statement General Chequing Account of Pharoah CompanyJune 2020 Date Debits Credits Balance $30,929.08 June 1 $2,145 $ 239.50 $935.70 $4,705.28 32,314.16 12 933.45 120.50 1,505.30 32,765.51 23 1,410 448.00 306.00 1,458.35 32,059.86 26 4,115 11.45 27,933.41 30 89.98 2,220 1,030 4,157.40 28,750.83 Additional information: One June 26 transaction was for bank service charges. One June 30 transaction was a bank debit memo for $1,030 for a customer's cheque returned and marked NSF (included with the June bank statement). Cash received on June 30 and put in the bank's night deposit box on the evening of June 30 was recorded by the bank in the general chequing account on July 3 for the amount of $4,605.12. Information follows for Pharoah Company: $30,929.08 Pharoah Company Bank Reconciliation May 31, 2020 Balance per bank statement Less: Outstanding cheques No. 6124 $2,145 No. 6138 933.45 No. 6139 960.00 No. 6140 1,410 5,448.45 25,480.63 4,705.28 Add deposit in transit Balance per books (correct balance) $30,185.91 Discount Date June 1 1 Cash $239.50 935.70 120.50 $9.30 2.30 8 9 306.00 10 89.98 CHEQUE REGISTER-JUNE Invoice Payee No. Amount Bren Mfg. 6141 $ 239.50 Stempy Mfg. 6142 945 Shamrock, Inc. 6143 122.80 Bren Mfg. 6144 306.00 Petty Cash 6145 89.98 Pretty Babies Photo 6146 703 Hey Dude Publishing 6147 448.00 Payroll Account 6148 4,115 Metlock Inc. 6149 393.90 Be Smart Construction 6151 2,220 Skysong, Inc. 6152 735 Cullumber Company 6153 360 $10,678.18 17 14.22 688.78 22 23 448.00 4,115 389.90 2,220 25 4.00 28 29 735 30 9 351 $38.82 $10,639.36 PROVINCIAL BANK Bank Statement General Chequing Account of Pharoah CompanyJune 2020 Date Debits Credits Balance $30,929.08 June 1 $2,145 $ 239.50 $935.70 $4,705.28 32,314.16 12 933.45 120.50 1,505.30 32,765.51 23 1,410 448.00 306.00 1,458.35 32,059.86 26 4,115 11.45 27,933.41 30 89.98 2,220 1,030 4,157.40 28,750.83 Additional information: One June 26 transaction was for bank service charges. One June 30 transaction was a bank debit memo for $1,030 for a customer's cheque returned and marked NSF (included with the June bank statement). Cash received on June 30 and put in the bank's night deposit box on the evening of June 30 was recorded by the bank in the general chequing account on July 3 for the amount of $4,605.12
