Instructions On August 31, Baginski and Company receives its bank statement on below. The company deposits its receipts in the bank and makes all payments by check. The debit memo for $95 is for an NSF check written by L. Pitts. Check no. 925 for $47, payable to Jardin Company (a creditor), was recorded in the checkbook and Journal as $74 The ledger balance of cash as of August 31, is $1,563. Outstanding checks as of August 31 are no. 925, $150 and no. 929, $292. The accountant nates that the deposit of August 31 for $599 did not appear on the bank statement PEABODY NATIONAL BANK STATEMENT OF Baginski and Company ACCOUNT NO. ACCOUNT 416 Seneca Avenue 152-655-217 Kansas City, Missouri 64102 STATEMENT DATE August 1 to 31, 20- SUMMARY Balance Last Statement $961.00 Amount of Checks and Debits $2,289.00 Number of Checks 11 Amount of Deposits and Credits $2,651.00 Number of Deposits 7 Balance This Statement $1,323.00 Balance This Suarement $1,323.00 CHECKSI CHECKS CHECK NUMBER DATE POSTED AMOUNT CHECK NUMBER DATE POSTED AMOUNT OTHER DEBITS 917 8-04 172.00 923 8-09 621.00 918 8-04 76.00 924 8-17 37.00 919 8-05 146.00 925 8-17 47.00 920 8-07 206.00 926 8-23 441.00 921 8-07 139.00 927 8-28 94.00 922 8-07 200.00 OTHER DEBITS DESCRIPTION DATE POSTED AMOUNT DM NSF check 8-31 95.00 DM Service charge 8-31 15.00 DEPOSITS/ DEPOSITS DATE POSTED AMOUNT DATE POSTED AMOUNT OTHER CREDITS 8-02 326.00 8-18 419.00 8-05 412.00 8-24 398.00 8-09 437.00 8-28 291.00 8-14 368.00 PLEASE EXAMINE THIS STATEMENT CAREFULLY. REPORT ANY POSSIBLE ERRORS withIN 10 DAYS. CODE SYMBOLS CM Credit Memo DM Debit Memo OD Overdraft EC Error Correction Required: CHART OF ACCOUNTS Baginski and Company General Ledger ASSETS REVENUE 111 Cash 411 Sales 112 Petty Cash Fund 113 Accounts Receivable EXPENSES 115 Office Supplies 511 Salaries Expense 117 Prepaid Insurance 512 Rent Expense 124 Equipment 513 Delivery Expense 125 Furniture and Fixtures 514 Utilities Expense 631 Miscellaneous Expenses LIABILITIES 635 Cash Over and Short 221 Accounts Payable EQUITY 311 Baginski, Capital 312 Baginski, Drawing Labels and Amount Descriptions Labels August 31, 20-- Add Deduct Outstanding checks Amount Descriptions Bank service and collection charges Deposit in transit on August 31 Error in recording Check No. 925 payable to Jardin Company No. 928 No. 929 NSF check from L. Pitts Baginski and Company Bank Reconciliation (Label) 1 Bank Statement Balance 2 (Label ) 3 4 5 (Label) 6 (Label) 7 8 9 Adjusted Bank Statement Balance 10 Ledger Balance of Cash 11 (Label) 12 13 14 (Label) 15 16 17 Adjusted Ledger Balance of Cash General Journal 2. Prepare the general entries on August 31. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE DEBIT POST. REF. CREDIT 2 3 4 5 6 Final Question 3. Complete the bank form to determine the adjusted balance of cash. BANK BALANCE SHOWN ON THIS STATEMENT $ ADD DEPOSITS NOT SHOWN ON THIS STATEMENT $ (IF ANY) $ TOTAL SUBTRACT $ CHECKS OUTSTANDING $ BALANCE
