Now that you have completed the end of month posting procedure, you are required to prepare a bank reconciliaton as at June 30, 2020.
The purpose of the bank reconciliation process is to reconcile the balance of cash shown in the company's ledger account against the balance of cash reported in the bank statement.
Bank reconciliation statement May 000000000 Bean Counters Coffeehouse Bank Reconciliation Statement May 31, 2020 $73,509 Balance per bank: Add: deposit in transit from Central Coffee deposit in transit from Quick Bolt Coffee $3,108 1,300 4,408 77,917 Deduct: outstanding check outstanding check Adjusted balance per bank No. 601 $5,100 No. 602 1,590 6,690 $71,227 $70,931 Balance per book: Add: interest earned 306 71,237 0000000001 Deduct: bank service charge Adjusted balance per book 10 $71,227 bitibank San Francisco branch Maria Appleton 684 Gould Avenue San Francisco, CA 94104 Account No. 18648029 Page No. Bean Counters Coffeehouse Date Particulars Debit Credit Balance $3,108 $1,300 $1,590 $40,000 $5,100 $9,500 $1,565 $401 $4,898 $2,759 $854 $3,427 $2,637 JUN 1 BALANCE BROUGHT FORWARD JUN 1 DEPOSIT - Central Coffee JUN 1 DEPOSIT - Quick Bolt Coffee JUN 2 602 JUN 3 LOAN JUN 3 601 JUN 4 603 JUN 5 604 JUN 9 605 JUN 10 606 JUN 10 DEPOSIT - Jandesh's Hot Spot JUN 10 607 JUN 12 608 JUN 13 DEPOSIT - Quick Bolt Coffee JUN 13 609 JUN 15 610 JUN 16 611 JUN 19 DEPOSIT - Cash sales JUN 21 612 JUN 23 DEPOSIT - Cash sales JUN 25 DEPOSIT - Con's Coffee JUN 26 NSF CHECK - Con's Coffee JUN 27 613 JUN 30 DEPOSIT - Central Coffee JUN 30 DEPOSIT - Cash sales JUN 30 615 JUN 30 INTEREST JUN 30 SERVICE CHARGE $73,509 CR $76,617 CR $77,917 CR $76,327 CR $116,327 CR $111,227 CR $101,727 CR $100,162 CR $99,761 CR $94,863 CR $97,622 CR $96,768 CR $93,341 CR $95,978 CR $93,589 CR $88.909 CR $86,492 CR $96,372 CR $94,102 CR $107,206 CR $108,406 CR $107,206 CR $104,798 CR $109,711 CR $140,091 CR $138,243 CR $138,828 CR $138,818 CR $2,389 $4,680 $2,417 $9,880 $2,270 $13,104 $1,200 $1,200 $2,408 $4,913 $30,380 $1,848 $585 $10 Last statement to This statement to 05/31/20 06/30/20 Total debits Total credits Final balance $44,557 $109,866 $138,818 CR Proceeds of checks will not be available until cleared. All entries for the last business day are subject to verification and authorization. Any items not paid, or withdrawn, will be adjusted by reversal entry on a later statement NSF means Not-Sufficient-Funds. CASH RECEIPTS JOURNAL Debit Date Account Post Ref. Credit Sales Accounts Other Revenue Receivable Accounts Cost of Goods Sold Cash Sales Discounts 250 40,000 40,000 Jun Jun 110-5 2,759 2,759 2,930 Jun 110-1 293 1 Bank Loan Payable 5 ARC - Jandesh's Hot Spot 9 ARC - Quick Bolt Coffee 12 Sales Revenue 19 Sales Revenue 20 ARC - Con's Coffee 24 ARC - SloZone 2,637 9,880 Jun 9,880 4,750 Jun 13,104 9,044 13,104 1,200 Jun 110-6 1,200 Jun 110-3 12,028 12,028 Jun 26 Sales Revenue 30,380 17,360 30,380 4,913 Jun 29 ARC - Central Coffee 110-4 4,913 Jun 29 Sales Revenue 12,480 6,900 12,480 129,381 Total 293 65,844 23,830 40,000 38,054 Post reference (100) (402) (400) (110) (X) (500)/(120) CASH PAYMENTS JOURNAL Debit Credit Date Account Check No. Post Ref. Cash Accounts Merchandise Wages Other Payable Inventory Expense Accounts 9,500 Jun 603 140 9,500 Jun 604 220 371 1,194 1,565 Jun 605 130 401 Jun 4,898 606 607 210-6 221 401 4,898 854 Jun 854 Jun 608 210-2 3,427 3,427 Jun 609 2,389 2,389 1 Prepaid Rent 4 Wages Payable 5 Office Supplies 6 APC - Buena Vista Coffee 7 Electricity Payable 10 APC - Jordo Gourmet Coffee 11 Wages Expense 13 APC - Abejundio Coffee 14 APC - Brazil Imports Group 18 Wages Expense 25 Wages Expense 28 APC - Brazil Imports Group 30 Merchandise Inventory 30 Salary Expense Jun 610 210-5 4,680 4,680 Jun 611 210-1 2,417 2,417 Jun 612 2,270 Jun 613 X 2,408 Jun 614 210-1 7,360 Jun 615 1,848 2,270 2,408 7,360 1,848 4,100 48,117 (100) Jun 616 545 4,100 Total 22,782 1,848 7,438 16,049 Post reference (210) (120) (516) (X) Bean Counters Coffeehouse Bank Reconciliation Statement June 30, 2020 $ $ 138818 Balance per bank: Add: A Deduct: 4)No. No. No. Adjusted balance per bank Balance per book Add: Deduct: A Adjusted balance per book GENERAL JOURNAL Date Account and Explanation Post Ref. Debit Credit Jun 19 Sales Returns and Allowances 401 4,900 Jun 19 ARC - SloZone 110/110-3 4,900 (sales return) 120 2,800 Jun 19 Merchandise Inventory Jun 19 Cost of Goods Sold 500 2,800 (sales return) 210/210-5 1,800 Jun 28 APC - Abejundio Coffee Jun 28 Merchandise Inventory (purchase return) 120 1,800 Jun 30 (select) (select) Jun 30 (select) (select) Jun 30 (select) select) Jun 30 (select) (select) SUBSIDIARY LEDGERS Account: ARC - Jandesh's Hot Spot Account No. 110-5 Date Description Ref. Debit Credit Balance May 31 Balance 2,759 DR Jun CRJ 2,759 0 5 Repayment 15 Credit sale Jun SJ 3,990 3,990 DR Jun 23 Credit sale SJ 50,020 54,010 DR Jun 30 Jun 30 4 Jun 30 Jun 30 Balance Account: ARC - Con's Coffee Account No. 110-6 Date Description Ref. Debit Credit Balance May 31 Balance 4,446 DR Jun 20 Repayment CRJ 1,200 3,246 DR Jun 25 Credit sale SJ 11,970 15,216 DR Jun 30 Jun 30 Jun 30 Jun 30 Balance GENERAL LEDGER Account: Cash Account No. 100 Date Description Ref. Debit Credit Balance May 31 Balance 71,227 DR Jun CRJ 129,381 200,608 DR 30 Total from cash receipts journal 30 Total from cash payments journal Jun CPJ 48,117 152,491 DR Jun 30 Jun 30 4 Jun 30 Jun 30 Jun 30 Balance Account: ARC - Accounts Receivable Control Account No. 110 Date Description Ref. Debit Credit Balance May 31 Balance 31,112 DR Jun GJ 4,900 26,212 DR Jun 19 Sales return from SloZone 30 Total from sales journal 30 Total from cash receipts journal SJ 70,880 97,092 DR Jun CRJ 23,830 73,262 DR Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Balance Account: APC - Accounts Payable Control Account No. 210 Ref. Debit Credit Date Description May 31 Balance Jun 28 Purchase return to Abejundio Coffee Jun 30 Total from purchases journal Jun 30 Total from cash payments journal GJ 1,800 Balance 44,558 CR 42,758 CR 63,738 CR 40,956 CR 20,980 PJ CPJ 22,782 Jun 30 Jun 30 Jun 30 1919 Jun 30 Balance Account: Interest Revenue Account No. 403 Ref. Debit Credit Balance Date Description May 31 Balance 0 Jun 30 Jun 30 . Jun 30 Jun 30 Balance Account: Interest Expense Account No. 571 Ref. Debit Credit Balance Date Description May 31 Balance 0 Jun 30 Jun 30 Jun 30 Jun 30 Balance Account: Admin. Expense - Bank Charges Account No. 572 Ref. Debit Credit Balance Date Description May 31 Balance Jun 30 0 Jun 30 Jun 30 Jun 30 Balance Bank reconciliation statement May 000000000 Bean Counters Coffeehouse Bank Reconciliation Statement May 31, 2020 $73,509 Balance per bank: Add: deposit in transit from Central Coffee deposit in transit from Quick Bolt Coffee $3,108 1,300 4,408 77,917 Deduct: outstanding check outstanding check Adjusted balance per bank No. 601 $5,100 No. 602 1,590 6,690 $71,227 $70,931 Balance per book: Add: interest earned 306 71,237 0000000001 Deduct: bank service charge Adjusted balance per book 10 $71,227 bitibank San Francisco branch Maria Appleton 684 Gould Avenue San Francisco, CA 94104 Account No. 18648029 Page No. Bean Counters Coffeehouse Date Particulars Debit Credit Balance $3,108 $1,300 $1,590 $40,000 $5,100 $9,500 $1,565 $401 $4,898 $2,759 $854 $3,427 $2,637 JUN 1 BALANCE BROUGHT FORWARD JUN 1 DEPOSIT - Central Coffee JUN 1 DEPOSIT - Quick Bolt Coffee JUN 2 602 JUN 3 LOAN JUN 3 601 JUN 4 603 JUN 5 604 JUN 9 605 JUN 10 606 JUN 10 DEPOSIT - Jandesh's Hot Spot JUN 10 607 JUN 12 608 JUN 13 DEPOSIT - Quick Bolt Coffee JUN 13 609 JUN 15 610 JUN 16 611 JUN 19 DEPOSIT - Cash sales JUN 21 612 JUN 23 DEPOSIT - Cash sales JUN 25 DEPOSIT - Con's Coffee JUN 26 NSF CHECK - Con's Coffee JUN 27 613 JUN 30 DEPOSIT - Central Coffee JUN 30 DEPOSIT - Cash sales JUN 30 615 JUN 30 INTEREST JUN 30 SERVICE CHARGE $73,509 CR $76,617 CR $77,917 CR $76,327 CR $116,327 CR $111,227 CR $101,727 CR $100,162 CR $99,761 CR $94,863 CR $97,622 CR $96,768 CR $93,341 CR $95,978 CR $93,589 CR $88.909 CR $86,492 CR $96,372 CR $94,102 CR $107,206 CR $108,406 CR $107,206 CR $104,798 CR $109,711 CR $140,091 CR $138,243 CR $138,828 CR $138,818 CR $2,389 $4,680 $2,417 $9,880 $2,270 $13,104 $1,200 $1,200 $2,408 $4,913 $30,380 $1,848 $585 $10 Last statement to This statement to 05/31/20 06/30/20 Total debits Total credits Final balance $44,557 $109,866 $138,818 CR Proceeds of checks will not be available until cleared. All entries for the last business day are subject to verification and authorization. Any items not paid, or withdrawn, will be adjusted by reversal entry on a later statement NSF means Not-Sufficient-Funds. CASH RECEIPTS JOURNAL Debit Date Account Post Ref. Credit Sales Accounts Other Revenue Receivable Accounts Cost of Goods Sold Cash Sales Discounts 250 40,000 40,000 Jun Jun 110-5 2,759 2,759 2,930 Jun 110-1 293 1 Bank Loan Payable 5 ARC - Jandesh's Hot Spot 9 ARC - Quick Bolt Coffee 12 Sales Revenue 19 Sales Revenue 20 ARC - Con's Coffee 24 ARC - SloZone 2,637 9,880 Jun 9,880 4,750 Jun 13,104 9,044 13,104 1,200 Jun 110-6 1,200 Jun 110-3 12,028 12,028 Jun 26 Sales Revenue 30,380 17,360 30,380 4,913 Jun 29 ARC - Central Coffee 110-4 4,913 Jun 29 Sales Revenue 12,480 6,900 12,480 129,381 Total 293 65,844 23,830 40,000 38,054 Post reference (100) (402) (400) (110) (X) (500)/(120) CASH PAYMENTS JOURNAL Debit Credit Date Account Check No. Post Ref. Cash Accounts Merchandise Wages Other Payable Inventory Expense Accounts 9,500 Jun 603 140 9,500 Jun 604 220 371 1,194 1,565 Jun 605 130 401 Jun 4,898 606 607 210-6 221 401 4,898 854 Jun 854 Jun 608 210-2 3,427 3,427 Jun 609 2,389 2,389 1 Prepaid Rent 4 Wages Payable 5 Office Supplies 6 APC - Buena Vista Coffee 7 Electricity Payable 10 APC - Jordo Gourmet Coffee 11 Wages Expense 13 APC - Abejundio Coffee 14 APC - Brazil Imports Group 18 Wages Expense 25 Wages Expense 28 APC - Brazil Imports Group 30 Merchandise Inventory 30 Salary Expense Jun 610 210-5 4,680 4,680 Jun 611 210-1 2,417 2,417 Jun 612 2,270 Jun 613 X 2,408 Jun 614 210-1 7,360 Jun 615 1,848 2,270 2,408 7,360 1,848 4,100 48,117 (100) Jun 616 545 4,100 Total 22,782 1,848 7,438 16,049 Post reference (210) (120) (516) (X) Bean Counters Coffeehouse Bank Reconciliation Statement June 30, 2020 $ $ 138818 Balance per bank: Add: A Deduct: 4)No. No. No. Adjusted balance per bank Balance per book Add: Deduct: A Adjusted balance per book GENERAL JOURNAL Date Account and Explanation Post Ref. Debit Credit Jun 19 Sales Returns and Allowances 401 4,900 Jun 19 ARC - SloZone 110/110-3 4,900 (sales return) 120 2,800 Jun 19 Merchandise Inventory Jun 19 Cost of Goods Sold 500 2,800 (sales return) 210/210-5 1,800 Jun 28 APC - Abejundio Coffee Jun 28 Merchandise Inventory (purchase return) 120 1,800 Jun 30 (select) (select) Jun 30 (select) (select) Jun 30 (select) select) Jun 30 (select) (select) SUBSIDIARY LEDGERS Account: ARC - Jandesh's Hot Spot Account No. 110-5 Date Description Ref. Debit Credit Balance May 31 Balance 2,759 DR Jun CRJ 2,759 0 5 Repayment 15 Credit sale Jun SJ 3,990 3,990 DR Jun 23 Credit sale SJ 50,020 54,010 DR Jun 30 Jun 30 4 Jun 30 Jun 30 Balance Account: ARC - Con's Coffee Account No. 110-6 Date Description Ref. Debit Credit Balance May 31 Balance 4,446 DR Jun 20 Repayment CRJ 1,200 3,246 DR Jun 25 Credit sale SJ 11,970 15,216 DR Jun 30 Jun 30 Jun 30 Jun 30 Balance GENERAL LEDGER Account: Cash Account No. 100 Date Description Ref. Debit Credit Balance May 31 Balance 71,227 DR Jun CRJ 129,381 200,608 DR 30 Total from cash receipts journal 30 Total from cash payments journal Jun CPJ 48,117 152,491 DR Jun 30 Jun 30 4 Jun 30 Jun 30 Jun 30 Balance Account: ARC - Accounts Receivable Control Account No. 110 Date Description Ref. Debit Credit Balance May 31 Balance 31,112 DR Jun GJ 4,900 26,212 DR Jun 19 Sales return from SloZone 30 Total from sales journal 30 Total from cash receipts journal SJ 70,880 97,092 DR Jun CRJ 23,830 73,262 DR Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Balance Account: APC - Accounts Payable Control Account No. 210 Ref. Debit Credit Date Description May 31 Balance Jun 28 Purchase return to Abejundio Coffee Jun 30 Total from purchases journal Jun 30 Total from cash payments journal GJ 1,800 Balance 44,558 CR 42,758 CR 63,738 CR 40,956 CR 20,980 PJ CPJ 22,782 Jun 30 Jun 30 Jun 30 1919 Jun 30 Balance Account: Interest Revenue Account No. 403 Ref. Debit Credit Balance Date Description May 31 Balance 0 Jun 30 Jun 30 . Jun 30 Jun 30 Balance Account: Interest Expense Account No. 571 Ref. Debit Credit Balance Date Description May 31 Balance 0 Jun 30 Jun 30 Jun 30 Jun 30 Balance Account: Admin. Expense - Bank Charges Account No. 572 Ref. Debit Credit Balance Date Description May 31 Balance Jun 30 0 Jun 30 Jun 30 Jun 30 Balance
