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The bank account as a control devise helps to protect cash. One of he requirements is to conduct periodic bank statement reconciliations. Using the following
The bank account as a control devise helps to protect cash. One of he requirements is to conduct periodic bank statement reconciliations. Using the following data, complete the bank statement reconciliation for J & J Flooring, Inc. The bank statement indicated a service charge of $56. J &J made a deposit on May 31, but this deposit did not appear on the bank statement, $1,451. A credit memo in the bank statement indicated a bank collection of a note for $1,300 with interest received of $16. This item was deleted May 18. Also included in the bank statement was a debit memo for a NSF check for $314 from Barney Smythe. Checks #1406 for $1,610, #1610 for $1,609, and #1085 for $857 were written by J $ J and sent to the respective companies, but these checks do not appear on the banc statement. The balance on the bank statement as of May 31 was $13,019. The cash account on Janus
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