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Problem 4-22 survey of accounting Problem 4-22 Bank reconciliation and adjustments to the cash account The following information is available for Cooters Garage for March
Problem 4-22 survey of accounting
Problem 4-22 Bank reconciliation and adjustments to the cash account The following information is available for Cooters Garage for March 2012 BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 cooters Garage 629 Main Street Hazard, GA 30321 Account number 62-00062 March 31, 2012 Beginning balance 3/1/2012 Total deposits and other credits Total checks and other debits Ending balance 3/31/2012 Checks and Debits Ched No Amount 1462 $1,163.00 62.00 1,235.00 750.00 1. 111.00 964.00 15.00 700.00 $15,000.00 7,000.00 6,000.00 16,000.00 Deposits and Credits Date Amount March 1 31,000.00 March 2 1,340.00 March 6 210.00 March 12 2.940.00 March 17 855.00 Xarch 22 1,400.00 175.00 The following is a list of checks and deposits recorded on the books of Cooters Garage March 2012 The following is a list of checks and deposits recorded on the books of Cooters Garage March 2012: Amour Check No. Date of Depo 146) 1464 March March 5 $1,340.00 210.00 Date March 1 March 5 March 6 March March 10 March 14 March 19 March 20 of Check 62.00 1,235.00 750.00 1,111.00 964.00 70.00 1.500.00 202.00 March 10 1.940.00 March 16 March 19 March 29 55.00 1, 489.00 2,000.00 Other Information 1. Check no. 1462 was outstanding from February 2. A credit memo for collection of accounts receivable was included in the bank statement 3. All checks were paid at the correct amount. 4. The bank statement included a debit memo for service charges 5. The February 28 bank reconciliation showed a deposit in transit of $1,000. 6. Check no. 1468 was for the purchase of equipment. 7. The unadjusted Cash account balance at March 31 was $16.868. Required .. Prepare the bank reconciliation for Cooters Garage at the end of March . Explain how the adjustments described above affect the cash accountStep by Step Solution
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