ACCOUNTING SOCIETY Part Four Instructions In this part of the practice set, the student will prepare a Bank Reconciliation for the month of January, Prepare it in Word or Excel and use the ending balance in your cash account for the cash for your books. Be prepared to tum in the Bank Reconciation after answering the questions in Blackboard, upload the Bank Reconciation Requirements 1. Make sure you have corrected any errors on your journal and adjusting journal entries and have the correct balance for the cash account before starting the Bank Reconciliation. Please use the correct balance in the cash account to start on the book side of the reconciliation 2. Bank Reconciliation: Using the cash balance per books and the bank statement, proparo a bank reconciliation. A template you can use to create a Bank reconciliation is located at the at the bottom of this page. 3. Record Bank Reconciliation Adjustments: After you have prepared the bank reconciliation you must make any adjusting journal entries to your cash account by entering them in the general journal of the practice set so that the general ledger cash account agrees with the bank reconciliation Once you finish the Bank Reconciliation follow the instructions below: Step 1: Use the template below to create an Excel spreadsheet or Word document to show the reconciled balance using the Bank Statement and the correct ending balance in the cash account. Step 2: Use the Excel spreadsheet or Word document to answer the questions in Blackboard in the content folder in the corresponding week. Step 3: Once you complete entering information click on the "Practice Set" tab on the navigation pane Step 4: When it opens, click on the corresponding assignment of the practice set Step 5: Once the assignment opens, scroll down and click on "Browse Local Files" Step 6: When you are done uploading the files, scroll down and click on the "Submit" button Template for Bank Reconciliation Western Bank Balance "Rocking Roller Blades" Ending Cash Balance on Bank Statement Ending Cash Balance in T-Account Deposits in Transit Adjustments or Errors / Outstanding Checks Reconciled Balance Adjustments or errors +/- Reconciled Balance CCOUNTING SOCIETY Bank Statement Western Bank Page 1 PO Box 12345 Paso, Texas 79998-2345 Rocking' Roller Blades 123 Main Avenue El Paso, Texas 79945 WESTERN BANK STATEMENT "Rockin' Roller Blades" Balance, beginning Deposits and other credits Checks and other debits Balance on statement date 01/01/2021 January January 01/31/2021 $0 $105,307 25 $66,530.00 $38.777.25 Deposits Added 1/2/2021 Deposit 1 $36,000.00 1/3/2021 Deposit 2 $20,000.00 1/14/2021 Deposit 3 $21.433.50 1/23/2021 Deposit 4 $16.237.50 1/27/2021 Deposit 5 $11,636.25 Wells Fargo Bank Statement - Checks Pald and other Debits 1001 $12,000.00 1007 $11,000.00 1002 $6,000.00 1008 $225.00 1003 $1.000,00 1009 $250.00 1004 $10,000.00 1012 $23.685.00 1005 $550.00 DM $70 Check Printing 1006 $1,000.00 NSF $750.00 Assume any errors are made by the bank ACCOUNTING SOCIETY Part Four Instructions In this part of the practice set, the student will prepare a Bank Reconciliation for the month of January, Prepare it in Word or Excel and use the ending balance in your cash account for the cash for your books. Be prepared to tum in the Bank Reconciation after answering the questions in Blackboard, upload the Bank Reconciation Requirements 1. Make sure you have corrected any errors on your journal and adjusting journal entries and have the correct balance for the cash account before starting the Bank Reconciliation. Please use the correct balance in the cash account to start on the book side of the reconciliation 2. Bank Reconciliation: Using the cash balance per books and the bank statement, proparo a bank reconciliation. A template you can use to create a Bank reconciliation is located at the at the bottom of this page. 3. Record Bank Reconciliation Adjustments: After you have prepared the bank reconciliation you must make any adjusting journal entries to your cash account by entering them in the general journal of the practice set so that the general ledger cash account agrees with the bank reconciliation Once you finish the Bank Reconciliation follow the instructions below: Step 1: Use the template below to create an Excel spreadsheet or Word document to show the reconciled balance using the Bank Statement and the correct ending balance in the cash account. Step 2: Use the Excel spreadsheet or Word document to answer the questions in Blackboard in the content folder in the corresponding week. Step 3: Once you complete entering information click on the "Practice Set" tab on the navigation pane Step 4: When it opens, click on the corresponding assignment of the practice set Step 5: Once the assignment opens, scroll down and click on "Browse Local Files" Step 6: When you are done uploading the files, scroll down and click on the "Submit" button Template for Bank Reconciliation Western Bank Balance "Rocking Roller Blades" Ending Cash Balance on Bank Statement Ending Cash Balance in T-Account Deposits in Transit Adjustments or Errors / Outstanding Checks Reconciled Balance Adjustments or errors +/- Reconciled Balance CCOUNTING SOCIETY Bank Statement Western Bank Page 1 PO Box 12345 Paso, Texas 79998-2345 Rocking' Roller Blades 123 Main Avenue El Paso, Texas 79945 WESTERN BANK STATEMENT "Rockin' Roller Blades" Balance, beginning Deposits and other credits Checks and other debits Balance on statement date 01/01/2021 January January 01/31/2021 $0 $105,307 25 $66,530.00 $38.777.25 Deposits Added 1/2/2021 Deposit 1 $36,000.00 1/3/2021 Deposit 2 $20,000.00 1/14/2021 Deposit 3 $21.433.50 1/23/2021 Deposit 4 $16.237.50 1/27/2021 Deposit 5 $11,636.25 Wells Fargo Bank Statement - Checks Pald and other Debits 1001 $12,000.00 1007 $11,000.00 1002 $6,000.00 1008 $225.00 1003 $1.000,00 1009 $250.00 1004 $10,000.00 1012 $23.685.00 1005 $550.00 DM $70 Check Printing 1006 $1,000.00 NSF $750.00 Assume any errors are made by the bank