Question
I need help creating my bank reconciliation and adjusting journal entries on the following problem: (I gathered all the necessary information for bank and company
I need help creating my bank reconciliation and adjusting journal entries on the following problem: (I gathered all the necessary information for bank and company I just don't know if I am doing the reconciliation correctly, any help is greatly appreciated)
Bank reconciliation: Using the cash balance per books and the bank statement, prepare bank reconciliation. This should be prepared using excel and must contain the proper heading as well as the reconciliation information.
Record Bank Reconciliation Adjustments: After you have prepared the bank reconciliation you must make any adjusting journal entries to your cash account so that general ledger cash agrees with the bank reconciliation.
*Any errors should be assumed to be made by the bank.
Bank Statement
Bank balance on statement date 09/30/2015: $18,823
Deposits added:
09/02/2015 Deposit 1 $20,000
09/05/2015 Deposit 2 $5,000
09/20/2015 Deposit 3 $6,495
09/23/2015 Deposit 4 $4,330
09/28/2015 Deposit 5 $7,578
Total deposits and other credits: $43,403
Checks Paid & Other Debits:
Check #1001 $2,800
Check #1002 $600
Check #1003 $6,000
Check #1004 $360
Check #1005 $500
Check #1006 $800
Check #1007 $300
Check #1008 $300
Check #1009 $900
Check #1010 $11,590
DM $30 (check printing fee)
Check #1011 $400
Total Checks and other debits: $24,580
Company Statement
Company balance on statement date 09/30/2015: $19,802
Deposits added:
09/02/2015 Deposit 1 $20,000
09/05/2015 Deposit 2 $5,000
09/20/2015 Deposit 3 $6,495
09/23/2015 Deposit 4 $4,000
09/28/2015 Deposit 5 $7,578
09/30/2015 Deposit 6 $3,680
Total deposits: $46,753
Checks Paid:
Check #1001 $2,800
Check #1002 $600
Check #1003 $6,000
Check #1004 $360
Check #1005 $500
Check #1006 $800
Check #1007 $300
Check #1008 $300
Check #1009 $900
Check #1010 $11,590
Check #1011 $400
Check #1012 $848
Check #1013 $1,683
Check #1014 $200
Total checks paid: $27,231
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