Cash Reconciliation Using the documents found under the Exhibits tab, complete the cash reconciliation below to arrive at Bunder Coi's correct cash balance as of December 31, Year 1 For each indicated cell in the table's "Description" column below, select the appropriate title for a reconciling item by clicking the cell. In the "Amount" column, enter as a positive value the amount associated with each reconciling item. For purposes of this simulation, list items in descending order by dollar amount. A reconciling item may be used once, more than once, or not at all. If no entry is needed, select "No entry required" or enter a zero ("0") to receive credit for your selection The respective subtotals for additions and deductions will calculate automatically, as well as the correct cash balance and adjusted bank balance amounts. Bunder Co. Cash Reconciliation December 31, Year 1 Description Amount Description Amount Balance per company Balance per bank books, December 31 statement, December 31 Additions: Additions: Total Additions Deductions: Total Additions Deductions: 0 Total Deductions Correct Cash Balance Total Deductions O Adjusted Bank Balance Manitou State Bank December Year 1 - Monthly Statement Bunder Co. 892 Lake Drive December 1-31, Year 1 Manitou, Co. 80922 Account No. 80-8745-96632 CHECKING SUMMARY Opening Balance, December 1, Year 1 $233,388 Deposit - note receivable from customer 4,350 NSF check (5,300) Service charges NSF check fee (25) Note receivable collection fee (50) Closing Balance, December 31, Year 1 $232,363 Document #2: General Ledger Cash: Acct. 10-523 Date Description Debit Credit Balance $232,794 50,480 Balance December 30 December 31 December 31 December 1, Year 1 Check deposit Check 10302 Check 10304 Check 10305 13.476 12,342 5,849 December 31 $251,607 U 3 Interoffice Memo RE: December Cash Reconciliation TO: Cash Manager FROM Controller As part of my review of the December cash reconciliation, the following issues came to my attention which need to be corrected: Check #10276 payable to Blaze Co. was incorrectly recorded in November as $9,812 when it was written; the amount should be 59,218. The check was shown as processed on the November 30 bank statement. Checks totaling $75,720 received on December 31, Year 1, were not recorded in the Cash account (nor by the bank) Check 10302 was not mailed until January 5. Year 2. Be sure to record the NSF check and related fees Be sure to record the note receivable collection and related fees . . . Document #4: 10276 Bunder Co. 892 Lake Drive Manitou, Co. 80922 Date November 5 Year 1 $ 9,218 Say to the Claro Blaze Co. Nine thousand two hundred eighteen D. For November purchases Justin Bunder. President 10000000001: 0000000001: o Bank statement o Ck #10276 O Ck #10302 o Ck #10304 o Ck #10305 o Customer check (NSF) o Customer checks - 12/30 Customer checks - 12/31 O Customer checks 12/30 o Customer checks 12/31 o Direct debit to a vendor (No entry required)
