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Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,100 Deposits during June $17,500 24,600 Checks cleared during June $18,600 6,000 Bank service charges $30 5,970 Balance, June 30 5,970 June 1 June June 30 Balance Deposits Balance Cash (A) 7,100 18.000 18,900 Checks written June 6,200 Required: 1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. Bank Statement Ending Balance per Bank Statement Additions: HILLS COMPANY Bank Reconciliation June 30 Company's Books $ 5,970 Ending Balance per Cash Account Additions: Deposit in Transit 0 0 0 5,970 Deductions: Deductions: Outstanding Checks 300 0 300 Mervy $ 0 $ 5,670 Up-to-Date Cash Balance Up-to-Date Cash Balance View transaction list Sharing Journal entry worksheet
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