Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Refer to the information given below: a. The June 30 cash balance in the general ledger is $810. b. The June 30 balance shown

image text in transcribed

Refer to the information given below: a. The June 30 cash balance in the general ledger is $810. b. The June 30 balance shown on the bank statement is $346. c. Checks issued but not returned with the bank statement were Number 712 for $21 and Number 723 for $41. d. A deposit made late on June 30 for $439 is included in the general ledger balance but not in the bank statement balance. e. Returned with the bank statement was a notice that a customer's check for $78 that was deposited on June 24 had been returned because the customer's account was overdrawn. 1. During a review of the checks that were returned with the bank statement, it was noted that the amount of Check Number 728 was $65 but that in the company's records supporting the general ledger balance, the check had been erroneously recorded as a payment of an account payable in the amount of $56. Required: Prepare a bank reconciliation as of June 30 from the above information. Note: Total the entries of the same account together when entering in the bank reconciliation statement. Balance per bank Add Bank Reconciliation June 30 Balance per books Add Deduct Deduct Reconciled balance Reconciled balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: Vernon Richardson, Chengyee Chang

1st edition

78025494, 978-0078025495

More Books

Students also viewed these Accounting questions

Question

How are scheduling and productivity related? LO.1

Answered: 1 week ago