Selected Answer: \& Dr $55,085.00 Correct Answer: Evaluation Method Correct Answer Case Se Exact Match Dr $55,115.00 In this part of the practice set, the student will prepare a Bank Reconciliation for the month of January. Prepare it in Excel and use the ending balance in your cash account for the ending cash for your books. Be prepared to turn in the Bank Reconciliation after answering the questions in Blackboard. Requirements 1. Make sure you have corrected any errors on your journal and adjusting journal entries and have the correct balance for the cash account in your T-Account before starting the Bank Reconciliation. Please use the correct balance in the cash account to start on the book side of the reconciliation. 2. Bank Reconciliation: Using the cash balance per books and the bank statement, prepare a bank reconciliation. A template you can use to create a Bank Reconciliation is located on the following page. 3. Record Bank Reconciliation Adjustments: After you have prepared the bank reconciliation you must make any adiusting iournal entries to your cash account by entering them in the general journal of the practice set so that the general ledger cash account agrees with the Bank Reconciliation. Once you finish the Bank Reconciliation follow the instructions below: Step 1: Use the template on the next page to create an Excel spreadsheet to show the econciled balance using the Bank Statement and the correct ending balance in the cash iccount. Once the bank reconciliation is completed, print it out. tep 2: Use the Excel spreadsheet to answer the questions in Blackboard in the content folder or the corresponding week. tep 3: Once you complete entering all the information into Blackboard, upload the Bank econciliation into Blackboard. Bank Reconciliation Wells Fargo Bank Balance "Hit the Slopes" Ending Cash Balance Ending Cash Balance Deposits in Transit Adjustments or Errors +1 - Outstanding Checks Reconciled Balance Adjustments or Errors +/- Reconciled Balance Cash balance =$55,115 Bank Statement Wells Fargo Bank page 1 PO BOx 12345 El Paso. Texas 79998-2345 Hit the Slopes 123 Main Avenue El Paso, Texas 79945 WELLS FARGO BANK STATEMENT "Hit the Slopes" "Assume any errors are made by the bank. Selected Answer: \& Dr $55,085.00 Correct Answer: Evaluation Method Correct Answer Case Se Exact Match Dr $55,115.00 In this part of the practice set, the student will prepare a Bank Reconciliation for the month of January. Prepare it in Excel and use the ending balance in your cash account for the ending cash for your books. Be prepared to turn in the Bank Reconciliation after answering the questions in Blackboard. Requirements 1. Make sure you have corrected any errors on your journal and adjusting journal entries and have the correct balance for the cash account in your T-Account before starting the Bank Reconciliation. Please use the correct balance in the cash account to start on the book side of the reconciliation. 2. Bank Reconciliation: Using the cash balance per books and the bank statement, prepare a bank reconciliation. A template you can use to create a Bank Reconciliation is located on the following page. 3. Record Bank Reconciliation Adjustments: After you have prepared the bank reconciliation you must make any adiusting iournal entries to your cash account by entering them in the general journal of the practice set so that the general ledger cash account agrees with the Bank Reconciliation. Once you finish the Bank Reconciliation follow the instructions below: Step 1: Use the template on the next page to create an Excel spreadsheet to show the econciled balance using the Bank Statement and the correct ending balance in the cash iccount. Once the bank reconciliation is completed, print it out. tep 2: Use the Excel spreadsheet to answer the questions in Blackboard in the content folder or the corresponding week. tep 3: Once you complete entering all the information into Blackboard, upload the Bank econciliation into Blackboard. Bank Reconciliation Wells Fargo Bank Balance "Hit the Slopes" Ending Cash Balance Ending Cash Balance Deposits in Transit Adjustments or Errors +1 - Outstanding Checks Reconciled Balance Adjustments or Errors +/- Reconciled Balance Cash balance =$55,115 Bank Statement Wells Fargo Bank page 1 PO BOx 12345 El Paso. Texas 79998-2345 Hit the Slopes 123 Main Avenue El Paso, Texas 79945 WELLS FARGO BANK STATEMENT "Hit the Slopes" "Assume any errors are made by the bank
