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On May 3 1 , JB Games Ltd . received its bank statement from the East Coast Savings Bank showing that JB had a balance
On May JB Games Ltd received its bank statement from the East Coast Savings Bank showing that JB had a balance of $ The company's general ledger showed a cash balance of $ at that date. A comparison of the bank statement and the accounting records revealed the following information:
A cheque from one of JBs customers in the amount of $ that had been deposited during the last week of May was returned with the bank statement as NSF
Bank service charges for the month were $
The company had written and mailed out cheques with a value of $ that had not yet cleared the bank.
Cheque # which was a payment for advertising expenses of $ was incorrectly recorded in the general ledger as $
During the month, one of JBs customers paid their account using an electronic funds transfer. Their payment was for $
The cash receipts for May amounted to $ and had been deposited in the night drop slot at the bank on the evening of May These were not reflected on the bank statement for May.
Prepare the bank reconciliation for JB at May List items that increase balance as per bank & books first.
JB Games Ltd
Bank Reconciliation
As of May
$
$
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