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Problem 8-5A (similar to) HSE25615 Juno Electronics had a computer failure on June 1, 2020 which resulted in the loss of data, including the balance
Problem 8-5A (similar to) HSE25615 Juno Electronics had a computer failure on June 1, 2020 which resulted in the loss of data, including the balance of its Cash account and its bank reconciliation from May 31 2020. The accountant Mark Daniela obtain the following information from the records of the company and its bank (Click the icon to view records ab.) (Click the icon to view records cal Required 1. Prepare a bank reconciliation as of June 30, 2020 including the calculation of the book balance of June 30, 2020 2. Prepare all journal entries that would be required by the bank reconciliation Requirement 1. Prepare a bank reconciliation as of June 30, 2020, including the calculation of the book balance of June 30, 2020 Prepare the bank section of the bank reconciliation Then, prepare the book section of the bank reconciliation (Use parentheses or a minus sign when subtracting numbers. Enter all mountain two decimal place.) Jung Electronics Balu Reconciliation June 30, 2020 HANK Add Choose from any list of enter any number in the input fields and then click Check Answer i Records a-b a. An examination showed that two cheques (#244 for $310 00 and #266 for $634.00) had not been cashed as of August 1. Danila recalled that there was only one deposit in transit on the July 31 bank reconciliation but was unable to recall the amount b. The cash receipts and cash payments journals contained the following entries for August 2020 Cash Receipts: Cash Payments: Amounts Cheque# Amount 925.00 S 350.00 520.00 535.00 810 00 590.00 $ 9.263.00 400000 Print Done CATAT 925.00 275 $ 350.00 276 520.00 3.790.00 790.00 4,000.00 void 1.500.00 9.375 00 lecon v hen c. The company's bank provided the following statement as of August 31, 2020 Date Cheques and Other Debits Deposits and Other Credits Balance Aug 1 #276 520.00 2.400.00 7.200.00 #266 634.00 6.566.00 5 +277 535.00 6.031.00 8 925.00 6.956.00 14 #275 350.00 1900 00 8506.00 17 EFT 600.00 7.906.00 19 EFT 43000 8,336.00 22 4279 590.00 748 DD 549400 22 #280 4.090.00 EFT 1 150 00 6.554 00 an i Records C-9 - X St ec hen 24 EFT 471.50 7,025 50 27 NSF 870 00 3.790.00 9.945.50 28 SC 20.00 9.925 50 31 #283 1,500 00 2010.00 10.435 50 d The deposit made on August 14 was for the collection of a note receivable (51 820.00) plus interest e. The electronic funds transfers (EFTs) had not yet been recorded by Juno Electronics because the bank statement was the first notification of them The August 17 EFT was for the monthly payment on an insurance policy for Juno Electronics. The August 19 and 24 EFTs were collections on accounts receivable The August 22 EFT was in error-the transfer should have been to Juno Horse Farm f The NSF cheque on August 27 was received from a customer as payment for electronics purchased for $870 00 g. Cheque #280 was correctly written for $4,090.00 for the purchase of inventory (assume a periodie system) but incorrectly recorded by the cash payments clerk Done Problem 8-5A (similar to) HSE25615 Juno Electronics had a computer failure on June 1, 2020 which resulted in the loss of data, including the balance of its Cash account and its bank reconciliation from May 31 2020. The accountant Mark Daniela obtain the following information from the records of the company and its bank (Click the icon to view records ab.) (Click the icon to view records cal Required 1. Prepare a bank reconciliation as of June 30, 2020 including the calculation of the book balance of June 30, 2020 2. Prepare all journal entries that would be required by the bank reconciliation Requirement 1. Prepare a bank reconciliation as of June 30, 2020, including the calculation of the book balance of June 30, 2020 Prepare the bank section of the bank reconciliation Then, prepare the book section of the bank reconciliation (Use parentheses or a minus sign when subtracting numbers. Enter all mountain two decimal place.) Jung Electronics Balu Reconciliation June 30, 2020 HANK Add Choose from any list of enter any number in the input fields and then click Check Answer i Records a-b a. An examination showed that two cheques (#244 for $310 00 and #266 for $634.00) had not been cashed as of August 1. Danila recalled that there was only one deposit in transit on the July 31 bank reconciliation but was unable to recall the amount b. The cash receipts and cash payments journals contained the following entries for August 2020 Cash Receipts: Cash Payments: Amounts Cheque# Amount 925.00 S 350.00 520.00 535.00 810 00 590.00 $ 9.263.00 400000 Print Done CATAT 925.00 275 $ 350.00 276 520.00 3.790.00 790.00 4,000.00 void 1.500.00 9.375 00 lecon v hen c. The company's bank provided the following statement as of August 31, 2020 Date Cheques and Other Debits Deposits and Other Credits Balance Aug 1 #276 520.00 2.400.00 7.200.00 #266 634.00 6.566.00 5 +277 535.00 6.031.00 8 925.00 6.956.00 14 #275 350.00 1900 00 8506.00 17 EFT 600.00 7.906.00 19 EFT 43000 8,336.00 22 4279 590.00 748 DD 549400 22 #280 4.090.00 EFT 1 150 00 6.554 00 an i Records C-9 - X St ec hen 24 EFT 471.50 7,025 50 27 NSF 870 00 3.790.00 9.945.50 28 SC 20.00 9.925 50 31 #283 1,500 00 2010.00 10.435 50 d The deposit made on August 14 was for the collection of a note receivable (51 820.00) plus interest e. The electronic funds transfers (EFTs) had not yet been recorded by Juno Electronics because the bank statement was the first notification of them The August 17 EFT was for the monthly payment on an insurance policy for Juno Electronics. The August 19 and 24 EFTs were collections on accounts receivable The August 22 EFT was in error-the transfer should have been to Juno Horse Farm f The NSF cheque on August 27 was received from a customer as payment for electronics purchased for $870 00 g. Cheque #280 was correctly written for $4,090.00 for the purchase of inventory (assume a periodie system) but incorrectly recorded by the cash payments clerk Done
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