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ACCT 103: Accounting I Bank Reconciliation Activity 1. The bank statement for August 2015 shows an ending balance of S3,490 2. On August 31 the
ACCT 103: Accounting I Bank Reconciliation Activity 1. The bank statement for August 2015 shows an ending balance of S3,490 2. On August 31 the bank statement shows charges of S35 for the service charge for maintaining the checking account. 3. On August 28 the bank statement shows a return item of $100 plus a related bank fee of S10. The return item is a customer's check that was returned because of insufficient funds. The check was also marked "do not redeposit 4. The bank statement shows a charge of $80 for check printing on August 20 The bank statement shows that $8 was added to the checking account on August 31 for interest earned by the company during the month of August. 5. 6. The bank statement shows that a note receivable of $1,000 was collected by the bank on August 29 and was deposited into the company's account. On the same day, the bank withdrew $40 from the company's account as a fee for collecting the note receivable 7. The company's Cash account at the end of August shows a balance of S967 During the month of August the company wrote checks totaling more than $50,000. As of August 31 S3,021 of the checks written in August had not yet cleared the bank and $200 of checks written in June had not yet cleared the bank. 8. 9. The S1,450 of cash received by the company on August 31 was recorded on the company's books as of August 31. However, the S1,450 of cash receipts was deposited at the bank on the morning of September 1 10. On August 29 the company's Cash account shows cash sales of $145. The bank statement shows the amount deposited was actually $154. The company reviewed the transactions and found that $154 was the correct amount * Reconcile the bank statement and the company books
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