Question
The following information was obtained from the books of Burghduff Products for the month of March: Cash Account Information: Balance on February 28 $2,223.00 Receipts
The following information was obtained from the books of Burghduff Products for the month of March:
Cash Account Information:
Balance on February 28 | $2,223.00 |
Receipts | 1,715.00 |
Payments | 2,015.00 |
Balance on March 31 | $ ?? |
Cash Receipts | |
Date | Amount |
Mar. 4 | $ 282.00 |
Mar. 8 | 187.00 |
Mar. 14 | 329.00 |
Mar. 20 | 256.00 |
Mar. 25 | 342.00 |
Mar. 31 | 319.00 |
Cash Payments | ||
Date | Check Number | Amount |
Mar. 3 | 415 | $ 357.00 |
Mar. 9 | 416 | 88.00 |
Mar. 13 | 417 | 106.00 |
Mar. 18 | 418 | $335.00 |
Mar. 21 | 419 | 59.00 |
Mar. 28 | 420 | 450.00 |
Mar. 29 | 421 | 250.00 |
Mar. 31 | 422 | 370.00 |
Bank Account Information:
Sentinel National Bank 1443 Woodlawn Avenue | |||
In account with: Burghduff Products 1804 Oak Street | |||
Date | Deductions | Deposits | Balance |
March 1 | Balance forwarded |
| $2,316.00 |
March 1 |
| $265.00 | 2,581.00 |
March 4 | $358.00 | 282.00 | 2,505.00 |
March 8 | 357.00 | 187.00 | 2,335.00 |
March 14 | 88.00 | 329.00 | 2,576.00 |
March 14 | 106.00 |
| 2,470.00 |
March 19 | 335.00 |
| 2,135.00 |
March 20 |
| 256.00 | 2,391.00 |
March 25 | 59.00 | 342.00 | 2,674.00 |
March 29 | NSF 150.00 |
| 2,524.00 |
March 31 | 450.00 |
| 2,074.00 |
March 31 | SC 45.00 |
| 2,029.00 |
Additional Information:
A. The reconciliation on February 28 included the following two items:
Outstanding check number 412 | $358 |
Deposit in transit | $265 |
B. The service charge includes a $15 fee for the nonsufficient funds check.
C. The nonsufficient funds check from Mark Edgerston was included in Burghduff Products's deposit on March 14.
Required:
Prepare the bank reconciliation for March.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Step 1 of 3 A Calculation of closing cash balance on March 31 as per book as follows Amont 3 Balance ...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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