PB5-2 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4, LO 5-5]

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The bookkeeper at Tony Company has asked you to prepare a bank reconciliation as of February 29. The February bank statement and the February T-account for cash showed the following (summarized):

BANK STATEMENT

ChecksDepositsOtherBalanceBalance, February 1$52,800February 2#101$16,00036,800February 4$9,00045,800February 5NSF$34045,460February 9#10211,60033,860February 12#1037,90025,960February 1411,50037,460February 19#1049,60027,860February 2314,95042,810February 26#1057,10035,710February 27Interest earned19035,900February 28Service charge4035,860

Cash (A)Feb. 1Balance52,800Feb. 29,00016,000Feb. 1#101Feb. 1311,50011,600Feb. 7#102Feb. 2114,9507,900Feb. 11#103Feb. 288,2009,600Feb. 17#1047,100Feb. 25#1051,300Feb. 29#106Feb. 29Balance42,950

Tony Company's bank reconciliation at the end of January showed no outstanding checks. No deposits were in transit at the end of January, but a deposit was in transit at the end of February.

References

Section BreakPB5-2 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4, LO 5-5]

1.

value:

8.33 points

Required information

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PB5-2 Part 1

Required:1.Prepare a bank reconciliation for February.