Reconciliation of Bank and Company Cash Amounts (Appendix 6.1)

Instructions

Chart of Accounts

Amount Descriptions

General Journal

Bank Reconciliation

X

Instructions

Miller Corporations December 31, 2016, bank statement showed a $2,041.25 balance. On this date, Millers Cash account reflected a $150.90 overdraft. In reconciling these amounts, the following information is discovered:

1.	Cash on hand for undeposited sales receipts, December 31, $131.25.
2.	Customer NSF check returned with bank statement, $426.20.
3.	Cash sales of $625.25 for the week ended December 18 were recorded on the books. The cashier reports this amount missing, and it was not deposited in the bank.
4.	Note receivable of $2,400.00 and interest of $24 collected by the bank and not recorded on the books.
5.	Deposit in transit December 31, $330.00.
6.	A customer check for $195.40 in payment of its account was recorded on the books at $945.10.
7.	Outstanding checks, $2,030.55. Includes a duplicate check of $63.85 to C. Brown, who notified Miller that the original was lost. Miller stopped payment on the original check and has already adjusted the cash account in the accounting records for this amount.

	Required:
1.	Prepare a December 31 bank reconciliation for Miller.
2.	Prepare any journal entries necessary by Miller to record the information from Requirement 1.

pare a December 31 bank reconciliation for Miller. Additional Instructions

Score: 34/114

Miller Corporation

Bank Reconciliation

December 31, 2016

1	Balance from bank statement		2041.25
2	Add:
3	Deposit in transit	330
4	Cash on hand	131.25
5			461.25
6
7	Deduct:
8	Outstanding checks
9	Adjusted cash balance
10
11	Balance from company records
12	Add:
13
14
15
16
17	Deduct:
18
19
20
21
22	Adjusted cash balance