Bank Statement for December 31 3,787 Bal 12/1 Deposits Dec 1 8 1,252 16 24 1,300 4,155 2,500 7 49 Interest 31 EFT 31 Parkview Company Bank Reconciliation December 31 Books 3,891 Balance, 12/31 Add: 6,640 EFT receipt from customer 10,531 Interest revenue Subtotal $ Bank Balance, 12/31 Add: Deposits in transit Subtotal 14,167 49 7 Less: 14,223 General Ledger Cash 9,717 1,300 Bal 12/1 Cash receipt 1217 Cash receipt 12/15 Cash receipt 12/23 Cash receipt 12/30 4,155 6,500 640 No. 1884 No. 1885 1,277 1,310 No. 1886 690 You learn from the November bank reconciliation that the following checks were outstanding on November 30: No. 1560 for $179, No. 1880 for $552, No. 1882 for $123, and No. 1883 for $468. There was one deposit in transit on November 30 for $1,252. An examination of the actual deposit slips revealed no bank errors. Assume the cash deposit of $2,500 on December 24 is the correct amount. The January bank statement showed that a $640 deposit cleared the bank on January 2. 1. Prepare a corrected bank reconciliation. Show the unexplained difference as an adjustment to the book balance. Include in your analysis the amount of the theft and how the bookkeeper attempted to conceal the theft. The president of The Parkview Company suspects the bookkeeper is embezzling cash from the company. She asks you, confidentially, to look over the bank reconciliation that the bookkeeper has prepared to see if you discover any discrepancies between the books and the bank statement. She provides you with the Cash account from the general ledger, the bank statement, and the bank reconciliation as of December 31. BE: (Click the icon to view the December bank statement.) (Click the icon to view the December cash activity.) (Click the icon to view the December bank reconciliation.) (Click the icon to view additional information.) Read the fequiremen First prepare the corrected bank reconciliation. (Include the balances at December 31 in each of the addition subtotal calculations. If an input field is not used in the table, leave the field empty; do not select a label or enter a zero. Abbreviations used: EFT = electronic funds transfer; NSF = non-sufficient funds) Parkview Company Bank Reconciliation (Corrected) December 31 Bank Books Balance, 12/31 Add: Balance, 12/31 Add: III Subtotal Subtotal Less: Less: Adjusted bank balance Adjusted book balance The unexplained difference is made up of the following: (Select all statements that apply. If an input field is not used in the table, leave the field empty; do not select a label.) Unexplained difference The theft of was concealed by at December 31 on the company's bank reconciliation. Bank Statement for December 31 3,787 Bal 12/1 Deposits Dec 1 8 1,252 16 24 1,300 4,155 2,500 7 49 Interest 31 EFT 31 Parkview Company Bank Reconciliation December 31 Books 3,891 Balance, 12/31 Add: 6,640 EFT receipt from customer 10,531 Interest revenue Subtotal $ Bank Balance, 12/31 Add: Deposits in transit Subtotal 14,167 49 7 Less: 14,223 General Ledger Cash 9,717 1,300 Bal 12/1 Cash receipt 1217 Cash receipt 12/15 Cash receipt 12/23 Cash receipt 12/30 4,155 6,500 640 No. 1884 No. 1885 1,277 1,310 No. 1886 690 You learn from the November bank reconciliation that the following checks were outstanding on November 30: No. 1560 for $179, No. 1880 for $552, No. 1882 for $123, and No. 1883 for $468. There was one deposit in transit on November 30 for $1,252. An examination of the actual deposit slips revealed no bank errors. Assume the cash deposit of $2,500 on December 24 is the correct amount. The January bank statement showed that a $640 deposit cleared the bank on January 2. 1. Prepare a corrected bank reconciliation. Show the unexplained difference as an adjustment to the book balance. Include in your analysis the amount of the theft and how the bookkeeper attempted to conceal the theft. The president of The Parkview Company suspects the bookkeeper is embezzling cash from the company. She asks you, confidentially, to look over the bank reconciliation that the bookkeeper has prepared to see if you discover any discrepancies between the books and the bank statement. She provides you with the Cash account from the general ledger, the bank statement, and the bank reconciliation as of December 31. BE: (Click the icon to view the December bank statement.) (Click the icon to view the December cash activity.) (Click the icon to view the December bank reconciliation.) (Click the icon to view additional information.) Read the fequiremen First prepare the corrected bank reconciliation. (Include the balances at December 31 in each of the addition subtotal calculations. If an input field is not used in the table, leave the field empty; do not select a label or enter a zero. Abbreviations used: EFT = electronic funds transfer; NSF = non-sufficient funds) Parkview Company Bank Reconciliation (Corrected) December 31 Bank Books Balance, 12/31 Add: Balance, 12/31 Add: III Subtotal Subtotal Less: Less: Adjusted bank balance Adjusted book balance The unexplained difference is made up of the following: (Select all statements that apply. If an input field is not used in the table, leave the field empty; do not select a label.) Unexplained difference The theft of was concealed by at December 31 on the company's bank reconciliation
