E6-27 (Algo) Preparing Bank Reconciliation and Entries and Reporting Cash L06-4 Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits $15,500 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $16,550 Balance $ 7,450 22,950 6,400 6,374 6,374 26 Cash (A) 7,450 June Checks written 18,600 | June 1 Balance June Deposits 19,150 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,600. A deposit of $3,100 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation. 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 302 Required 1 Required 2 Required 3 Required 4 Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,600. A deposit of $3,100 is in transit at the end of June. Company's Books Ending balance per cash account Additions: BENTLEY COMPANY Bank Reconciliation, June 30 Bank Statement $ 45,200 Ending balance per bank statement Additions: Deposit in transit $ 6,374 3,100 3,100 9,474 Deductions: Bank service charge 45,200 Deductions: Outstanding checks 2,600 26 2,600 37,874 Correct cash balance 45,174 Correct cash balance Required 1 Required 2 Required 3 Required 4 Record any journal entries that should be made as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No Debit Credit Date June 30 General Journal Bank service charge expense Bank service charge expense 26 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What is the balance in the Cash account after the reconciliation entries? Cash balance $ 45,174 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What is the total amount of cash that should be reported on the balance sheet at June 30? Total amount of cash $ 37,874
