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The bank statement for Bucs Inc. shows a balance on March 31, 2021 of $31,008. The cash ledger account shows a balance of $27,550 on
The bank statement for Bucs Inc. shows a balance on March 31, 2021 of $31,008. The cash ledger account shows a balance of $27,550 on the same date. You are doing the bank reconciliation for March 2021 and you note the following: 1. Five cheques totalling $4,508 written in March and mailed to suppliers had not been cashed as of March 31. 2. A cheque made out on March 11, 2021 for insurance was recorded in the accounting records for $850 by mistake. The correct amount of the cheque was $650. 3. The bank charged Bucs Inc. a service charge of $50 on March 31. 4. A $1,200 overnight deposit made on March 31 was not processed by the bank until the morning of April 2. Required: Prepare the bank reconciliation for Bucs Inc. at March 31, 2021. 2 B Balance per bank $31,008 Balance per books $27,550 Add: Add: Less Less: Reconciled balance Reconciled balance
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