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The cash account for Pala Medicat Center at June 30,20Y1, indicated a balance of $166,436. The bank slatement indicated a balance of $195,68a on June
The cash account for Pala Medicat Center at June 30,20Y1, indicated a balance of $166,436. The bank slatement indicated a balance of $195,68a on June 30,20Y1. Comparing the bank stafement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Chocks outstanding totaled $19,427, b. A deposit of $12,300, reprosonting receipts of June 30 , had been made too lato to appear on the bank statement. c. The bank colected $26,500 on a $25,000 note, including interest of $1,$00. d. A check for $4,000 returned with the staternent had been incorrectly recorded by Pala Medical Center as $400. The check was for the payment of an obligation to Shyline Supply Ca. for a purchase on account. e. A check drawn for $195 had been erroneously charged by the bank as $915. t. Bank service charpes for June amounted to $55. Required: 1. Prepare a bank raconcilation. Bank Reconciliation Shaded cells have feedbac Pala Medical Center Score: 26/108 Bank Reconciliation June 30,20Y1 Cash balance according to bank statement Add: Deposit in transit on June 30 Deduct: Outstanding checks Cash balance according to company's records Labels For the Month Ended June 30, 20Y1 June 30,20Y1 Amount Descriptions Adjusted balance Bank error in charging check as $915 instead of $195 Bank service charges Deposit in transit on June 30 Error in recording check Note collected by bank, including $1,500 interest Outstanding checks Total additions Total deductions
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