Question
The following information is provided for Atlas Pool Services at the end of December 2016. a) The December 31 bank balance was $4,807. b) The
The following information is provided for Atlas Pool Services at the end of December 2016.
a) The December 31 bank balance was $4,807. b) The bank statement indicated a deduction of $27 for bank service charges. c) Cheque number 843 for $370 and cheque number 860 for $259 have been recorded in the company ledger but did not appear on the bank statement. d) A customer paid an amount of $4,557 to Atlas Pool Services on the 31 of December but the deposit did not appear on the bank statement. e) The accounting clerk made an error and recorded a $240 cheque as $2,400. The cheque was written to pay outstanding accounts payable account. f) Cheque number 9507 for $102 was deducted from Atlas Pool Services account by the bank. This cheque was not written by Atlas Pool Service and needs to be reversed by the bank. g) The bank automatically deposited $28 interest at the end of the month. h) The general ledger cash account showed a balance of $6,676 on December 31 Required 1) Prepare the December bank reconciliation for Atlas Pool Services. 2) Record the relevant journal entries to bring the company's records up to date. Do not enter dollar signs or commas in the input boxes. Use the negative sign for values that must be subtracted.
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