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Adria Lopez receives the March bank statement for Success Systems on April 11, 2014. The March 31 bank statement shows an ending cash balance of
Adria Lopez receives the March bank statement for Success Systems on April 11, 2014. The March 31 bank statement shows an ending cash balance of $67,966. A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following a. A. Lopez notices that the bank erroneously cleared a $510 check against her account in March that she did not issue. The check documentation included with the bank statement shows that this check was actually issued by a company named Sierra Systems. b. On March 25, the bank issued a $43 debit memorandum for the safety deposit box that Success Systems agreed to rent from the bank beginning March 25. c. On March 26, the bank issued a $116 debit memorandum for printed checks that Success Systems ordered from the bank. d. On March 31, the bank issued a credit memorandum for$34 interest earned on Success Systems checking account for the month of March. e. A. Lopez notices that the check she issued for $129 on March 31, 2014, has notyet cleared the bank. f. A. Lopez verifies that all deposits made in March do appear on the March bank statement. g. The general ledger Cash account, No. 101, shows an ending cash balance per books of $68,472 as of March 31 prior to any reconciliation Required. 1. Prepare a bank reconciliation for Success Systems for the month ended March 31, 2014. SUCCESS SYSTEMS Bank Reconciliation March 31, 2014 Bank statement balance Book balance Add Add Deduct. Deduct. Adjusted bank balance Adjusted book balance Type here to search
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