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QUESTION 5 Consider the following information and prepare a bank reconciliation, along with any resulting journal entries, for TJ Company, an online retailer that specializes
QUESTION 5 Consider the following information and prepare a bank reconciliation, along with any resulting journal entries, for TJ Company, an online retailer that specializes in digital device accessories at April 30, 2017.The bank reconciliation prepared by TJ Company on March 31,2017, follows: Bank Reconciliallon March 33, 2017 Bank statement balance $7.670 $8.540 Add: Deposit of March 31 in transit 1.100 $8.770 Deduct: Outstanding cheques: #701. #804: $ 60 120 190 Adjusted bank balance. 8.50 Adjusted $8.590 The following bank statement is available for April: The following bank statement is available for April: Bank Statement To: TJ Company Aprt 30, 2037 Bank ot Nova Scotia Chequesy Charges/Debits Deposits/Credits Balance 7.670 7.936 8,371 8,853 a,083 8,588 4811 04/03 04/07 04/ 13 04/18 04/23 04/27 04/30 04/30 834 375 208 450 850 60 550 372 124 32 04/03 04/07 04/13 04/18 04/23 04/27 04/30 INT 1,100 . 810 690 680 355 750 620 47 #810/ NSF 1 808 #797 #814 #813 9,278 9,348 #809 SC 04/30 04/30 4,023 8,899 8,867 04/30 NSF Not Sufficient Funds Sc Service Charge INT Interest A list of deposits made and cheques written during April, taken from the cash receipts journal and cash disbursements journal, is shown below: Deposits Made Cheques Written April 7 375 . 810 680 355 No. 807 13 18. 23 27 30. 850 124 208 348 207 808 8:09 811. 812.... 750 620"- 770 372 30 550 814. 815. Total April Cash Receipts $4.675 405 602 4041 Total April Cash Disbursements .. General Ledger Cash Account: Cash Aoct. No. 101 Total apri General Ledger Cash Account: Aost. No. 303 PR Dablt Crociit Date 2017 8.540 13,265 9.224 March31 Balance 4.675 Apri30 30 CR12 CD14 4.041 In reviewing cheques returned by the bank, the bookkeeper discovered that cheque #811, for delivery expense, was recorded in the cash disbursements journal incor cheque for $450 was that of customer A. Hussain, deposited in April. rectly as $348. The NSF equired: Prepare a bank reconciliation, along with any resulting journal entries, for TJ Company at April 30, 2017
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