Question
The following information should be used to prepare a bank reconciliation for KTZFIG Sales and Consulting as of June 30. Prepare the reconciliation on the
The following information should be used to prepare a bank reconciliation for KTZFIG Sales and Consulting as of June 30. Prepare the reconciliation on the Bank Reconciliation tab. On June 30, 2018, KTZFIG Sales and Consulting Co. had a cash balance in the ledger of $241,768. The June statement from Michigan State Bank showed a balance of $244,573 on June 30, 2018. The following facts regarding banking and cash activities are available. The bank service charge for June was $70. The bank collected $11,560, that was owed to KTZFIG Sales and Consulting Co by a customer, through electronic funds transfer. The June 30 receipts of $17,600 were not included in the bank deposits for June. These receipts were deposited by the company in a night deposit vault on June 30. Company check No. 2480 issued to BMoore Co, a creditor, for $475 that cleared the bank in June was incorrectly entered in the cash payments journal on June 10 for $450. Checks outstanding on June 30 totaled $13,760. On June 30, the bank statement showed an NSF charge of $1,350 for a check received by the company from TRymph, a customer, on account. The bank statement shows a check for $3,470 was charged to KTZFIG account. The check was written by Nschrib Company not KTZFIG Sales and Consulting . Prepare the bank reconciliation as of June 30. Prepare the necessary entries at June 30 to update the cash account.
Place the Journal entries on the Journal entries Tab KTZFIG Consulting & Sales and Sales Inc Bank Reconciliation
June 30 2019 BANK
Balance June 30, 2019
Additions
Subtractions
Balance June 30, 2019
Additions
Subtractions
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