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Bank Reconciliation Tosh Corp. prepares monthly bank reconciliations as part of its cash controls. Tosh's bank provided the following amount about Tosh's cash balance at
Bank Reconciliation Tosh Corp. prepares monthly bank reconciliations as part of its cash controls. Tosh's bank provided the following amount about Tosh's cash balance at the bank for during the month of April: Balance, April 30 $86,250 Service charge for April 60 Note ($4,000) and interest ($205) collected for Tosh from a customer 4,205 Interest earned during April 110 NSF check from Orange Corp. (deposited by Tosh) for goods purchased on account 445 Tosh then analyzed its cash balance on its own set of books, revealing the following details: Checking account balance per Tosh's books $83,135 Deposit in transit at April 30 2,090 Outstanding checks as of April 30 1,350 Error in recording a check issued by Tosh. (Correct amount of the check is $549, but was recorded as a cash disbursement of $594. The check was issued to pay for merchandise originally purchased on account.) 45 Required: 1. Prepare a bank reconciliation at April 30 in proper form. Tosh Corp. Bank Reconciliation April 30 Cash balance from bank statement Add: Less: Adjusted cash balance 0 100 Cash balance from company records Add: 00 Less:Adjusted cash balance 2. Record any necessary adjusting journal entries. If an amount box does not require an entry, leave it blank. (Record bank service charge) (Record interest) 1 00 0C 0 00 0 (Record NSF check) (Record note receivable collected by bank) (Correct error in recording check)
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