Bank Reconciliation Problem

Lotus company showed the following bank reconciliation at March 31,2020:

No form of cheating will be tolerated.

All answers should be written on paper and submitted in

PDF form. No other form of submission will be accepted.

Bank Balance

ADD:

Deposit in transit

Deduct:

Outstanding cheques :

#14 $840 #22 315

Adjusted Balance

$ 22,100

10000 $32,100

(1,115) $30945

Book Balance $ 30,945

00000 Adjusted Balance $30,945

Cash Book @ April 30 , 2020

PR

Debit $

Credit $

Balance $

30945

CR17

71,440

102,385

CR13

91,172

11,213

Deposits Made

Cheques Written

April

$

#

$

7

690

23

5,200

13

4,600

24

3,150

18

5,900

25

940

23

13,900

26

310

27

1,750

27

4,230

30

44,600

28

4,900

Total Receipts

71,440

29

19,630

30

41,000

31

412

32

11,400

Total payments

91,172

Bank Statement @ April 30,2020

Beginning balance $22,100 Ending Balance $110,113

Cheques /Charges $

Deposits/Credits$

#31

04/03

412

04/03

10,000

#28

04/07

9,400

04/07

690

#26

04/13

310

04/13

4,600

NSF

04/18

14,200

04/18

5,900

#24

04/23

3,150

04/23

13,900

#23

04/27

5,200

04/27

1,750

#29

04/30

19,630

04/30

120,000

PMT

04/30

15,900

SC

04/30

175

INT

04/30

450

In reviewing the cheques returned by the bank, the bookkeeper discovered that cheque #28 , for delivery expense , was recorded in Cash Disbursements Journal correctly as $4,900. The NSF cheque for $14200 was that of Tom, a customer who deposited in March.

On the bank statement , the payment for $15,900 is regarding a note payable. There is also a deposit of $120,000 dated April 30. It is an investment made by the owner into the business {an electronic transfer made by the bank from the owners bank account into the business. So it did not appear on the Cash Receipts of the company}

REQUIRED

1. Make a bank reconciliation for the company at April 30, 2020

2. Journalize the adjustment to the cash book on a ledger