Bank reconciliation Now that you have completed the end of month posting procedure, you are required to prepare a bank reconciliaton as at June 30, 2019. The purpose of the bank reconciliation process is to reconcile the balance of cash shown in the company's ledger account against the balance of cash reported in the bank statement. Instructions for bank reconciliation 1) Prepare the bank reconciliation statement as at June 30, 2019. To do this, you will need to use: . the previous month's bank reconciliation statement, and . the current month's bank statement and cash journals Note that the bank reconciliation statement provided below may contain more rows than required. 2) Use the bank reconciliation statement to record the relevant reconciling items in the general journal. 3) Post entries recorded in the general journal to the appropriate ledger accounts according to the company's accounting policies and procedures. 4) Record the updated balance of each ledger account in the Balance row of each ledger, even for ledgers with a balance of zero. Although each ledger already has a running balance, the Balance row must still be filled out in order to receive full points. Back-On-Track functionality * Please note that any answers from previous pages carried through onto this page (either on the page or in a popup information page) have been reset, if necessary, to the correct answers. Your particular answers from previous pages are no longer shown. Remember: Enter all answers to the nearest whole dollar There may be entries in the general Journal that require posting to both a control account and a subsidiary ledger. In these cases, after you have posted to both ledgers, you should enter the reference for both the general ledger account and the subsidiary ledger account in the Post Ref. column to indicate that you have posted to both accounts. For example, if the reference number for the control account is 110 and the reference number for the subsidiary ledger account is 110-1, you should type '110/110-1 into the Post Ref. column. . You are also required to apply the journals and ledgers instructions provided in previous weeks. Bank reconciliation statement May Spine Tinglers Bank Reconciliation Statement May 31, 2019 $53,112 Balance per bank: Add: deposit in transit from Attic Books deposit in transit from Amazone.com $10,601 11,640 22,241 75,353 Deduct: outstanding check outstanding check Adjusted balance per bank No. 855 $6,700 No. 856 660 100000000000000000000000000000000000000000000 7,360 $67,993 $67,783 Balance per book: Add: interest earned 221 68,004 Deduct: bank service charge Adjusted balance per book $67,993 Print Close Spine Tinglers Debit Credit $660 $59,000 $10,601 $11,640 $6,700 56,200 $5,700 $4,065 $5,000 $20,580 $7,800 $6,000 Date Particulars JUN 1 BALANCE BROUGHT FORWARD JUN 2 856 JUN 3 LOAN JUN 5 DEPOSIT - Attic Books JUN 5 DEPOSIT - Amazone.com JUN 5 855 JUN 6 857 JUN 7 859 JUN 8 860 JUN 8 858 JUN 11 DEPOSIT - Cash sales JUN 13 861 JUN 14 DEPOSIT - Amazone.com JUN 15 863 JUN 18 DEPOSIT - Cash sales JUN 19 864 JUN 22 865 JUN 23 DEPOSIT - Outlines JUN 24 NSF CHECK- Outlines JUN 26 DEPOSIT - Cash sales JUN 28 868 JUN 29 867 JUN 30 DEPOSIT - Attic Books JUN 30 DEPOSIT - Cash sales JUN 30 DEPOSIT - Cash sales JUN 30 869 JUN 30 INTEREST JUN 30 TRANSACTIONS FEE S3.965 Balance $53,112 CR $52,452 CR $111,452 CR $122,053 CR $133,693 CR $126,993 CR $120,793 CR $115,093 CR $111,028 CR $106,028 CR $126,608 CR $118,808 CR $124,808 CR $120,843 CR $137,013 CR $135,013 CR $130,749 CR $137,449 CR $130,749 CR $156,285 CR 5152,358 CR $102,769 CR 5108,893 CR $179.201 CR $195,371 CR S192.971 CR S 193.537 CR S193,526 CR $16,170 $2,000 $4.264 $6.700 $6.700 $25,536 $3,927 549,589 S6,124 $70,308 S16,170 400 5566 $11 Last statement to 05/31/19 this statement to 0 6/30/19 Total debits $108,981 Total credits $249,395 Final balance $193,526 CR CASH RECEIPTS JOURNAL Date Account Post Ref. 250 x 110-1 8 110-6 110-3 Jun 1 Bank Loan Payable Jun 6 Sales Revenue ARC - Amazone.com Sales Revenue ARC - Outlines 20 ARC - Paige Turners Sales Revenue Jun 27 Sales Revenue Jun 29 Sales Revenue Jun 30 ARC - Attic Books Total Post reference Debit Credit Cost of Sales Sales Cash Accounts Other Goods Revenue Tax Receivable Accounts Sold 59,000 59,000 20,580 19,600 980 8,820 6,000 6,000 16,170 15,400 770 7,000 6,700 6,700 55,686 55,686 25,536 24,320 1,216 15,200 70,308 66,960 3,348 38,300 16,170 15,400 770 7,560 6,124 6,124 282,274 141,680 7,084 74,510 59,000 76,880 (100) (400) (240) (110) (x) (500)/(120) x 110- 4 CASH PAYMENTS JOURNAL Date Account Check Post Ref. 857 210-4 858 859 210-2 860 220 861 210-5 862 221 863 Jun 2 APC - Albatross Jun 2 Merchandise Inventory Jun 3 APC - Booked Inn Jun 6 Wages Payable 8 APC - Polar Bear Books Electricity Payable 13 Wages Expense 15 Prepaid Rent 20 Wages Expense 26 APC - Peachson 27 APC - Stompson 27 Wages Expense Jun 30 Merchandise Inventory Jun 30 Salary Expense Total Post reference Debit Credit Accounts Merchandise Wages Other Cash Payable Inventory Expense Accounts 6,200 6,200 5,000 5,000 5,700 5,700 2,065 2,000 4,065 7,800 7,800 1,409 1,409 3,965 3,965 2,000 2,000 4,264 4,264 11,027 11,027 49,589 49,589 3,927 3,927 2,400 2,400 5,700 5.700 80,316 7,400 14,221 11,109 113,046 (210) (120) (516) (x) (100) 864 140 865 866 210-1 867 210-3 868 x 869 x 870 545 Print Close Spine Tinglers Bank Reconciliation Statement June 30, 2019 L Balance per bank Add: v - LL Deduct: No. | .No 0000000000000000000000000000000000000000000000000000000000000000 v No. | Adjusted balance per bank LLLL Balance per book Add: LL Deduct: SUBSIDIARY LEDGERS Account: ARC - Bovine & Hobbitson Account No. 110-5 Ref. Debit Credit Balance Date May Description 31 Balance Credit sale 30 SJ 70,644 70,644 DR Jun Jun 30 Jun 30 Balance Account: ARC - Outlines Account No. 110-6 Ref. Debit Credit Balance Date May Jun Description 31 Balance 10 Credit sale Repayment Credit sale 17,808 CRJ 6,700 17,808 DR 11,108 DR 12,452 DR 26 SJ 1,344 Jun 30 Balance GENERAL LEDGER Account: Cash Account No. 100 Date Ref. Debit Credit May Jun Description 31 Balance Total from cash receipts journal 30 Total from cash payments journal Balance 67,993 DR 350,267 DR 237,221 DR 30 To CRJ 282,274 CPJ 113,046 Jun 30 Balance Account: ARC - Accounts Receivable Control Account No. 110 Ref. Debit Credit Balance 63,602 DR 163,037 DR 88,527 DR 99,435 SJ CRJ 74,510 Date Description May 31 Balance Jun Total from sales journal 30 Total from cash receipts journal Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Balance Account: APC - Accounts Payable Control Account No. 210 Ref. Debit Credit Date May Jun Jun Description 31 Balance 21 Purchase return to Stompson 30 Total from purchases journal 30 Total from cash payments journal GJ 800 Balance 70,096 CR 69,296 CR 85,776 CR 5,460 CR PJ 16,480 80,316 Jun 30 Jun 30 Balance Account: Interest Revenue Account No. 403 Ref. Debit Credit Balance Date May Description 31 Balance Jun 30 Jun 30 Balance Account: Interest Expense Account No. 571 Date Ref. Debit Credit Balance May Jun Jun Description 31 Balance 30 30 Jun 30 || Jun 30 Balance Account: Admin. Expense - Bank Charges Account No. 572 Ref. Debit Credit Balance Date May Jun Description 31 Balance 30 Jun Jun Jun 30 Balance