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the august 31 bank statement of neighourhood services association (NSA) has just arrived from scotiabank. to prepare the NSA bank reconcilitation, you gather the follwoing
the august 31 bank statement of neighourhood services association (NSA) has just arrived from scotiabank. to prepare the NSA bank reconcilitation, you gather the follwoing data:
a. NSA cash account shows a balance of $2,166.70 on august 31.
b. the august 31 bank balance is $4023.05.
c. the bank statement shows that NSA earned $26.34 of interest on itsbano balance during august. this amount was added to NSA bank balance.
d. NSA pays utilities ($220) and insurance ($120) by EFT.
e. the follwing NSA cheques did not clear nu the bank by august 31:
cheeque no. amount
237 $45.80
288 146.00
291 598.65
293 11.27
294 609.55
295 8.45
296 106.79
f. the bank statement includes a donation of $790, electronically deposited to the bank for NSA.
g. the bank statemnt lists of $9.80 bank service charge.
h. on august 31, the NSA tresurer deposited $15.55, which will appear on the september bank statement.
i. the bank statement includes a $395 deposit that NSA did not make. The bank added $395 to NSA's account for another company's deposit.
j. the bank statemnt includes two charges for returned cheques from donors. one is a $390 cheque recieved from a donor with the imprint "unauthorized signature". the other is a nonsufficent funds cheque in the amount of $126.15 received fron a client.
requirements:
1. prepare the bank reconciliation for NSA.
2. journalise the august 31 transactions needed to update NSA casg account. include an explanation for each entry.
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