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The August 31 bank statement of Wollaston Healthcare has just arrived from Farmington Bank. To prepare the bank reconciliation, you gather the following data:
The August 31 bank statement of Wollaston Healthcare has just arrived from Farmington Bank. To prepare the bank reconciliation, you gather the following data: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare the bank reconciliation for Wollaston Healthcare at August 31, 2024. Wollaston Healthcare Bank Reconciliation August 31, 2024 Bank: ADD: ESS 000 i Requirements 1. Prepare the bank reconciliation for Wollaston Healthcare at August 31, 2024. 2. Journalize any required entries from the bank reconciliation. Include an explanation for each entry. Data Table a. The August 31 bank balance is $6,680. b. The bank statement includes two charges for NSF checks from customers. One is for $340 (#1), and the other is for $190 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. Amount Check No. 237 Check No. 288 Check No. 291 Check No. 294 Check No. 295 $ 40 200 590 670 40 Check No. 296 60 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $2,200 EFT deposit for a collection on account. e. The bank statement includes two special deposits that Wollaston hasn't recorded yet: $1000 for dividend revenue, and $100 for the interest revenue Wollaston earned on its bank balance during August. Data Table 40 Check No. 237 Check No. 288 200 Check No. 291 590 Check No. 294 670 Check No. 295 40 Check No. 296 60 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $2,200 EFT deposit for a collection on account. e. The bank statement includes two special deposits that Wollaston hasn't recorded yet: $1000 for dividend revenue, and $100 for the interest revenue Wollaston earned on its bank balance during August. f. The bank statement lists a $110 subtraction for the bank service charge. g. On August 31, the Wollaston treasurer deposited $280, but this deposit does not appear on the bank statement. h. The bank statement includes a $900 deduction for a check drawn by Multi-State Freight Company. Wollaston notified the bank of this bank error. i. Wollaston's Cash account shows a balance of $3,600 on August 31.
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