Question
As the bookkeeper of Cook Company of Drumheller, you received the bank statement from TD Canada Trustindicating a balance of $4,352.The ending book balance wad
As the bookkeeper of Cook Company of Drumheller, you received the bank statement from TD Canada Trustindicating a balance of $4,352.The ending book balance wad $3,789.The following information was available
Deposits in transit were $1,378
Bank service charges were $16
Cheques outstanding:No. 221, $642,No. 225, $1489
TD collected a note for Cook, $2,500 and charged you a $35 collection fee
NSF cheque $749 was on the bank statement
Cook company records cheque No. 321 as $500 for this months rent but the bank withdrew the correct amount on the cheque: $400
The bank made an error by deducting $990 to your account that was not one of your cheques
Required:Prepare a bank reconciliation AND any necessary journal entries.
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Bank Reconcilation 19 marks Your score As the bookkeeper of Cook Company of Drumheller, you received the bank statement from TD Canada Trust indicating a balance of $4,352. The ending book balance wad $3,789. The following information was available Deposits in transit were $1,378 Bank service charges were $16 Cheques outstanding: No. 221, $642, No. 225, $1489 TD collected a note for Cook, $2,500 and charged you a $35 collection fee NSF cheque $749 was on the bank statement Cook company records cheque No. 321 as $500 for this months rent but the bank withdrew the correct amount on the cheque: $400 The bank made an error by deducting $990 to your account that was not one of your cheques Required: Prepare a bank reconcilation AND any necessary journal entries 13 marks 6 marks Date Debit Credit 3 marks 3 marks
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