Bank Reconciliation, December 31, 202X Balance per ledger December 31, 202X Add: Cash receipts received on the last day of December and charged to "cash in bank" on books but not deposited Debit memo by bank for customers check returned unpaid and dishonored (check is on hand but no entry has been made on the books for check being returned) Debit memo by bank for bank service charge for December Deduct: Checks drawn but not paid by bank (see detailed list below) Credit memo by bank for proceeds of a note receivable that had been left at the bank for collection but which has not been recorded as collected Checks for an account payable entered on books as $297.50 but drawn and correctly paid by bank as $694.50 Computed balance Unlocated difference Balance per bank (agreed with confirmation) $ 3,032.28 1,300.00 397.00 Checks Drawn but Not Paid by Bank: Amount 267.27 39.92 454.67 291.80 648.29 737.52 529.10 36.00 117.26 3,032.28 No. 573 $ 724 903 907 911 913 914 916 917 $ 27,253.85 3,715.27 550.00 45.00 31,564.12 (4,729.28) 26,834.84 133.57 26,968.41 $ Required: 1. (3 Points) Prepare a corrected reconciliation. [1 point for two correct balances that equal; 1 point for correct outstanding check total; 1 point for correct captions and amount placement; points subtracted for additional items] 2. (4 Points) Prepare journal entries for items that should be adjusted prior to closing the books. [1 point for each correct entry (account titles must be correct also); -1 point for each additional entry (and thus incorrect entry)] 3. (3 points) State the total misstatement of cash and whether it was an overstatement or understatement of cash. [1 point for correct amount or direction; 3 points if both correct]

correct outstanding check total; 1 point for correct captions and amount placement; points subtracted for additional items] 2. (4 Points) Prepare journal entries for items that should be adjusted prior to closing the books. [1 point for each correct entry (account titles must be correct also); -1 point for each additional entry (and thus incorrect entry)] 3. (3 points) State the total misstatement of cash and whether it was an overstatement or understatement of cash. [1 point for correct amount or direction; 3 points if both correct]