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 have been taken fron 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 CASH RECEIPTS FOR MONTH OF JUNE$9,223.76 $9,317.40 DUPLICATE DEPOSIT TICKETs Date and amount of each deposit in June Amount $996 61 882.95 1,606.74 Amount June 22 $897.34 947 21 1,117 74 Date Amount Date Date June 1 $1,080.50 June 10 3 854 17 15 24 8 840.50 17 30 CHECKS WRITTEN Number and amount of each check issued in June Check No. Amount $449 75 272.75 Check No. Amount Amount 5237.50 495. 15 Check No. Void 754 747 740$450 90 740 755 741 Amount $449.75 272.75 113.95 407.95 259.60 901.50 486.39 Check No. Amount Check No. Amount S237.50 495.15 501.90 761.30 506.88 117.25 298.66 Check No. 740 741 742 743 744 745 746 747 748 749 750 751 752 753 754 755 756 757 758 759 760 Void $450.90 640.13 276.77 299.37 537.01 380.95 Total amount of checks issued in June: $8,395.66 BANK RECONCILIATION FOR PRECEDING MONTH BEELER FURNITURE COMPANY Bank Reconciliation May 31, 2016 : Cash balance according to bank statement BEELER FURNITURE COMPANY Bank Reconciliation May 31, 2016 $9.447.20 690.25 $10.137.45 1 Cash balance according to bank statement 2 Add deposit for May 31, not recorded by bank 4 Deduct outstanding checks: 162.15 45.95 251.40 60.55 5 No. 731 No.736 No. 738 No. 739 820.05 Adjusted balance $9.317.40 10 1: Cash balance according to company's records 13 Deduct service charges ss Adjusted balance $9.352.50 35.10 $9,317.40 JUNE BANK STATEMENT Required: 1. Prepare a bank reconcilation as of June 30 If errors in recording deposits or checks are discovered assume that the errors were made by the company Assume tnat an deposits are from cash sales. All checks are writen to satisty accounts payable Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries To enter the Check number, please enter No preceeding the number (Note Deduct, Add, or colons () will automatically appear if required) 2. Journaize the necessary entries. The accounts have not been closed Reter to the Chart of Accounts for exact wording of account tities 3. What is the amount of Cash that should appear on the balance sheet as of June 307 4 Assume that a canceled check for $390 has been incorrectly recorded by the bank as s930. Bnefly explain how the error would be included in a bank reconciation and how ia should be corrected Chart of Accounts CHART OF ACCOUNTS Beeler Furniture Company General Ledger 1 Prepare a bank that all deposits are from cash salos All checks are written to satisty accoundts payable reconciliation as of June 30 ir errors in recording deposits or checks are discovered, assume that the errors were made by the company Assume Refer to the Labels and Amount Desciptions ist provided for the exact wording of the answer chooes kr text entres To enter the Check nin ber please ereer Noproceeding the num ter (Note leder Add or cokes ( ) wil auto natia appear d requared Whenever there is more than one adusting item in the bank portion of the reconcilation or the general ledger portion of the bank reconcabation, enter in the order presented in the instrucbons ny BEELER FURNITURE COMPANY Bank Reconchation June 30, 2016 1 Cash balance according to bank statement (Label exact wording of account title 2. Journalize the necessary entries. The accounts have not been closed Refer to the Chart of Accounts for exact wording of account tithe PAGE 1 JOURNAL POST RER DERIT CREDIT DATE BEELER FURNITURE COMPANY June 30, 2016 1 Cash balance according to bank statement Label 1s Cash balance according to company's records 13 14