J B C D E F G H 1 Before you begin, print out all the pages in this workbook. 2 3 Gibson Energy Ltd.'s general ledger account for Cash in Bank showed the following at 4 December 31, 2019: 5 6 Cash in Bank Acct. No. 101 7 Balance DR 8 Date Description Folio Debit Credit (CR) 9 Nov. 30 Balance (overdraft) 221,000 10 Dec. 1-31 Cash receipts CRJ10 813,000 1,034,000 11 Dec. 1-31 Cash Payments CDJ21 972,000 62,000 12 13 December deposits made and checks issued were as follows: 14 15 Deposits Checks 16 Date Amount No. Amount 17 Dec. 5 30,000 232 110,000 18 7 210,000 233 83,000 19 9 85,000 234 25,000 20 12 32,000 235 59,000 21 15 26,000 236 590,000 22 21 420,000 237 17,000 23 24 16,000 238 28,000 24 26 51,000 239 77,000 25 28 21,000 26 31 15,000 27 $813,000 $972,000 28 29 The December bank statement showed: 30 31 First Chartered Bank Gibcon Cnorowled Bank Statement Required Bank Rec. Jnl. Entries Copyright + FX B D E F G H . First Chartered Bank Gibson Energy Ltd. Bank Statement Month Ended December 31, 2019 Date Type Out In Dec. 3 Deposit 70,000 4 NR XYZ Corp. 80,000 5 Ck. 232 110,000 6 Ck. 231 70,000 6 Deposit 30,000 7 Deposit 210,000 10 Ck. 234 25,000 12 Ck. 236 590,000 13 Deposit 32,000 14 Ck. 52094* 62,000 14 NSF ABC. Inc. 7,000 15 Deposit 26,000 16 Ck. 238 28,000 17 Deposit 420,000 18 Ck. 235 59,000 20 Ck. 237 17,000 24 Deposit 16,000 26 Deposit 51,000 28 Deposit 21,000 31 OD int 1,320 31 SC 60 *drawn in error on Gibson's bank account NR = note receivable collected from XYZ Corp. including interest of: NSF = not sufficient funds SC = service charge Loverdraft interact ovnenca Required Bank Rec. Jnl. Entries Copyright + Balance 215,000 295,000 185,000 115,000 145,000 355,000 330,000 (260,000) (228,000) (290,000) (297,000) (271,000) (299,000) 121,000 62,000 45,000 61,000 112,000 133,000 131,680 131,620 $1,951 on 1 2 3 4 5 6 7 8 9 0 1 2 3 4. 5 6 7 8 9 0 1 2 D E F G H . 10 Ck. 234 25,000 330,000 12 ck. 236 590,000 (260,000) 13 Deposit 32,000 (228,000) 14 Ck. 52094* 62,000 (290,000) 14 NSF ABC. Inc. 7,000 (297,000) 15 Deposit 26,000 (271,000) 16 Ck. 238 28,000 (299,000) 17 Deposit 420,000 121,000 18 Ck. 235 59,000 62,000 20 Ck. 237 17,000 45,000 24 Deposit 16,000 61,000 26 Deposit 51,000 112,000 28 Deposit 21,000 133,000 31 OD int 1,320 131,680 31 SC 60 131,620 *drawn in error on Gibson's bank account NR = note receivable collected from XYZ Corp. including interest of: $1,951 NSF = not sufficient funds SC = service charge OD int = overdraft interest expense Outstanding items at November 30, 2019 were as follows: Nov. 30 deposit $70,000 Ck. 231 $70,000 Required: 1 Complete the bank reconciliation at December 31, 2019. 3 4 5 6 7 8 9 2 Prepare the adjusting journal entries required to make the Cash in Bank account in the general ledger agree with the adjusted cash balance on the December 31 bank reconciliation. Include descriptions. 0 1 Required Bank Rec. Jnl. Entries Copyright IVI Gibson Energy Ltd. Bank Reconciliation At December 31, 2019 Unreconciled general ledger Cash balance at Dec. 31 Add: Unreconciled bank statement balance at Dec. 31 Add: Less: Less: Adjusted general ledger Cash balance at Dec. 31 Adjusted bank balance at Dec. 31 Required Bank Rec. Jnl. Entries Copyright # dy Calculate
