Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in a night depository, after banking hours. The data required to reconcile the bank statement as of June 30, 20Y2, have been taken from various documents and records and are reproduced as follows. The sources of the data are printed in capital letters. All checks were written for payments on account.

CASH ACCOUNT:
Balance as of June 1	$9,317.40
CASH RECEIPTS FOR MONTH OF JUNE	9,223.76

DUPLICATE DEPOSIT TICKETS: Date and amount of each deposit in June:

Date	Amount		Date	Amount		Date	Amount
June 1	$1,080.50		June 10	$996.61		June 22	$897.34
3	854.17		15	882.95		24	947.21
8	840.50		17	1,606.74		30	1,117.74

CHECKS WRITTEN: Number and amount of each check issued in June:

Check No.

Amount

Check No.

Amount

Check No.

Amount

740

$237.50

747

Void

754

$449.75

741

495.15

748

$450.90

755

272.75

742

501.90

749

640.13

756

113.95

743

761.30

750

276.77

757

407.95

744

506.88

751

299.37

758

259.60

745

117.25

752

537.01

759

901.50

746

298.66

753

380.95

760

486.39

Total amount of checks issued in June: $8,395.66

BANK RECONCILIATION FOR PRECEDING MONTH:

Beeler Furniture Company

Bank Reconciliation

May 31, 20Y2

1	Cash balance according to bank statement		$9,447.20
2	Add: Deposit in transit on May 31		690.25
3	Deduct: Outstanding Check No. 731	$162.15
4	Outstanding Check No. 736	345.95
5	Outstanding Check No. 738	251.40
6	Outstanding Check No. 739	60.55
7	Total deductions		(820.05)
8	Adjusted balance		$9,317.40
9
10	Cash balance according to companys records		$9,352.50
11	Deduct: Bank service charges		(35.10)
12	Adjusted balance		$9,317.40

Refer to the

June Bank Statement

.

	Required:
1.	Prepare a bank reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Add:" & "Deduct:" will automatically appear if it is required. Round your answers to two decimal places. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
2.	Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places.
3.	What is the amount of Cash that should appear on the balance sheet as of June 30, 20Y2?
4.	Assume that a canceled check for $390 has been incorrectly recorded by the bank as $930. Briefly explain how the error would be included in a bank reconciliation and how it should be corrected.

1 Cash balance according to bank statement $13,624.71 Add: Deposit in transit on June 30 1,117.74 Deduct: Outstanding Check No. 738 251.40 Deduct: Outstanding Check No.756 113.95 Deduct: Outstanding Check No.758 259.60 Deduct: Outstanding Check No.759 901.50 Total deductions 14,742.45 8 Adjusted balance $13,216.00 10 Cash balance according to company's records $1,362,471.00 11 Add: Bank service charges $10,145.50 3,710.00 Add: Note collected by bank, including $210 interest Error in recording Check No. 743 13 90.00 Error in recording Check No.743 90.00 Deduct: Check returned because of insufficient funds 550.00 Deduct: Error in recording June 10 deposit 100.00 Deduct: Error in recording June 24 deposit 4.50 Deduct: Bank service charges 75.00 Total deductions 3,800.00 19 Adjusted balance $13,216.00