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Consider the following general ledger and bank statement for Aneem Salon. Feb 1 Opening balance Jimmy Supplies-check #182 Feb 4 Feb 8 Feb 13 290
Consider the following general ledger and bank statement for Aneem Salon.
Feb 1 Opening balance Jimmy Supplies-check #182 Feb 4 Feb 8 Feb 13 290 8,400 DR 330 8,070 DR 8601 7,210 DR 7,500 DR 862 6,638 DR 920 5,718 DR 8,218 DR HitHit Supplies-check #183 Mary Malony Beauty Maintenance Inc-check #184 Shona Care Ltd-check #185 Deposit Feb 14 Feb 20 Feb 28 2,500 Bank Statement Date Explanation Withdrawal Deposit Balance Feb 1 Opening balance 8,400 Feb 4 Check #182 330 8,070 Feb 8 Check #183 860 7,210 Feb 8 EFT - Monthly Rent 1,200 6,010 Feb 13 Mary Malony 290 6,300 Feb 13 NSF check 290 6,010 Feb 13 NSF charge 9 6,001 Feb 14 Check #184 628 5,373 9 Feb 21 Check #7381 2,900 2,473 36 2,437 Feb 28 Service charges Feb 28 Interest on bank account 31 2,468 Additional Information 1. On Feb 14, Aneem Salon purchased $628 worth of salon supplies from Beauty Maintenance Inc. 2. The salon's check numbers are always three-digits in length. Required a) Prepare a bank reconciliation for Aneem Salon on February 28, 2018. b) Prepare the necessary journal entries. Do not enter dollar signs or commas in the input boxes. Do not use negative signs. Select the proper order for the headings of the Bank Reconciliation. Aneem Salon Bank Reconciliation February 28, 2018 Cash balance per bank statement * Cash balance per books Add Add Outstanding deposit X Interest earned 31 > Bank Error 2900 * Ledger error Deduct outstanding checks Deduct Check #185 920 EFT - Rent 1200 NSF Check 290 NSF service charge 9 Bank service charges 36 1535 Adjusted bank balance * Adjusted book balance X Do not enter dollar signs or commas in the input boxes. Date Account Title and Explanation Debit Credit 2018 Feb 28 182 X Correct error on check #184 Feb 28 Record interest earned for the month of February Feb 28 Record EFT - monthly rent Feb 28 Record NSF check returned by bank Feb 28 > Feb 28 Record interest earned for the month of February Feb 28 Record EFT - monthly rent Feb 28 Record NSF check returned by bank Feb 28 Record NSF charges from bank Feb 28 Record service charges for the month of FebruaryStep by Step Solution
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