ACC 1 Lab

Complete the Bank Reconciliation and the journal entires

ACC 213 Accounting Lab #5 for Chapter 6 Name: Complete the Bank Reconciliation (Part A) and the Journal Entries (Part B) from the information provided. Part A: Information from the Bank: Bank Statement ABC Bank XYZ Company Acctn 40-1004 Date: 3/31/2021 Beginning Balance at 3/1/2021 $13,735.00 Total Deposits and other credits 5,836.00 Total checks and other debits 3,317.00 Ending Balance at 3/31/2021 $16,254.00 Information from the Company's accounting system: XYZ Company Cash Account with ABC Bank #40-1004 Cash 3/1 balance $14,009 2-Mar 12-Mar 17-Mar 23-Mar 31-Mar 1276 2247 231 453 1600 62 Chk# 1468 572 Chkw 1469 118 Chk# 1470 395 Chkw 1471 247 Chkh 1472 1155 Chk# 1473 187 Chkw 1474 99 Chk# 1475 Checks & Debits Deposits and Credits Check # Amount Date Amount 1467 576 1-Mar 850 1468 62 2-Mar 1276 1469 572 12-Mar 2247 1470 118 17-Mar 231 1471 395 23-Mar 453 1473 1155 Credit Memo 1 779 1475 99 Debit Memo 1 25 Debit Memo 2 315 3/31 balance $16,981 PM#1 is a bank service chary CM#1 is for collection of accounts DM#2 is for an NSF check receivable Note: All checks paid by the bank were paid for the amounts written on the checks by XYZ Company Check #1475 was for the utility bill. February Bank Reconciliation Information Balance on 2/28 per bank Deposits in transit Outstanding Checks True Balance 14009 13735 850 576 B. Prepare any journal entries that the company should make on 3/31 after reconciling the cash account. Acct. Titles Debit Credit A. Prepare a bank reconciliation for March Bank Reconciliation Balance per Bank Balance per Company Write a ADD: ADD: short title for each item you add or Less: Less: subtract Put dollar amounts in yellow section of reconciliation using Adjusted Balance Adjusted Balance formulas/cell references (No dates or explanations are required in these journal entry or entries)