STUDENT NAME P5 BANK RECONCILIATION (BANKREC) LEARNING OBJECTIVES Prepare a bank reconciliation statement and the necessary adjusting journal entries Prepare a bank reconciliation statement with incomplete data. Interpret differences between book and bank balances. Alter the file to accept additional outstanding checks. Create a chart plotting book and bank balances. PROBLEM DATA Skye Boats deposits all receipts in a night depository after banking hours. The data needed to reconcile the bank statement as of October 31, 2011, have been extracted from records and are as follows: From Skye Boats' records: Checking account balance as of September 30 Cash received and deposited in October (detail below*) Checks written during October (detail below) Checkbook balance as of October 31 $8,720.23 4,735.45- 4,828.88)- $8,626.80 Date and amount of each deposit in October: Oct. 3, $545.25; Oct. 8, $842.00; Oct. 11, $978 35; Oct. 16, $658.05; Oct. 19, $643.90; Oct. 24, $352.62, Oct. 28, $715.28. "Number and amount of each check issued in October: Check No. Amount Check No. Amount Check No. Amount Check No Amount 750 $361.90 754 $869.52 758 $24660 762 $236.74 64.71 755 471.86 759 Void 763oid 752 462.18 756 156.20 7608795 (764Cle21o.0o ,719221765216is/ 751 757 274.35/ 761 753 51.90- From October's bank statement: Balance as of September 30 Deposits recorded in October (detail below") Checks charged to account in October (detail below") (4,180.93) Other adjustments (detail below") $9,568.63 4,382.07 1.387.80 $11,157.57 Balance as of October 31 Amount Date and amount of each deposit in October: Oct. 1, $361.90; Oct. 4, $545.25: Oct. 9 $842:00; Oct. 12, $978.35; Oct. 17, $658.05; Oct. 20, $643.90 Oct. 25, $352.62 "Number and amount of each check in October: 45