• Post transactions to bank statement and checkbook with details

(1)

When the cashier asks, Debit or Credit, a sneaky little bank fee sometimes hangs in the balance, depending on where you bank and sometimes what kind of debit card account you have. Johnny, who banks in New Jersey, wants to balance his chequebook, which shows a balance of $985.20. The bank shows a balance of $1,430.33. The following transactions occurred: $135.20 automatic withdrawals to the gas company, $6.50 ATM Fee, $8.00 service fee, and $1,030.05 direct deposit from the IRS. Johnny used his debit card 5 times and was charged 45 cents for each transaction. He was also charged $3.50 for check printing. A $931.08 deposit was not shown on her bank statement. The following checks were outstanding: #235, $158.20: #237, $184.13: # 238, $118.12: # 239, $38.83. Johnny received $2.33 interest.

Prepare Johnnys bank reconciliation.

(2)

Mary, a bookkeeper, cannot prepare a bank reconciliation. From the following facts, complete the June 30, 2012 reconciliation. The bank statement showed a $2,955.82 balance. Marys checkbook showed a $3,301.82 balance.

Mary placed a $510.19 deposit in the banks night depository on June 30. The deposit did not appear on the bank statement. The bank included two debit memo (DMs) and one credit memo(CM) with the returned checks: $690.65 DM for NSF, $8.50 DM for service charges, and $400.00 CM (less $10 collection fee) for collection a $400.00 non-interest bearing note. Check # 811 for $110.94 and # 912 for $82.50 were both written and recorded on June 28, and were not with the returned checks. The bookkeeper had correctly written check #844 for $1,000.00 for a new cash register, but she recorded the check as $1,069.00. The May bank reconciliation showed check # 748 for $210.90 and # 710 for $195.80 outstanding on April 30. The June bank statement included check # 710 but not check # 748.