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Refer to the June Bank Statement. Required: 1. Prepare a bank reconciliation as of June 30,20Y2. If errors in recording deposits or checks are discovered,
Refer to the June Bank Statement. Required: 1. Prepare a bank reconciliation as of June 30,20Y2. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. 2. Journalize the necessary entries. 3. What is the amount of Cash that should appear on the balance sheet as of June 30,20Y2 ? 4. Assume that a canceled check for $390 has been incorrectly recorded by the bank as $930. Briefly explain how the error would be included in a bank reconciliation and how it should be corrected. Refer to the June Bank Statement. Required: 1. Prepare a bank reconciliation as of June 30,20Y2. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. 2. Journalize the necessary entries. 3. What is the amount of Cash that should appear on the balance sheet as of June 30,20Y2 ? 4. Assume that a canceled check for $390 has been incorrectly recorded by the bank as $930. Briefly explain how the error would be included in a bank reconciliation and how it should be corrected
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