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The October 3 1 , 2 0 2 3 bank statement of Pressler College, an educational institution. has just arrived from the Royal Bank. To
The October bank statement of Pressler College, an educational institution. has just arrived from the Royal Bank. To prepare the Pressler bank reconciliation, you gather the following data:
a The October bank balance is $
b The bank statement includes two charges for returned cheques. One is an NSF cheque in the amount of $ received from a Student John Smith The other is a $ cheque received from another Student, Emily Brown and deposited by Pressler on October It was returned by Emilys bank with the imprint Unauthorized Signature
c The following Pressler cheques are outstanding at October : cheque # $ Cheque # $ Cheque # $ and Cheque # $
d A few students pay accommodation fees by EFT. The October bank statement lists a $ deposit for Accommodation Revenue.
e The bank statement includes two deposits: $ which is the amount of tuition revenue the bank collected from an International student by EFT; and $ the interest revenue Pressler earned on its bank balance during October.
f Pressler incorrectly recorded cheque # in payment of utilities expense. Pressler recorded the payment as $ The correct amount of the cheque was $
g The bank statement lists a $ service charge.
h On October the Pressler accountant deposited $ but this deposit does not appear on the bank statement.
i The bank statement includes $ deduction for a cheque written by Davis Company. Pressler promptly notified the bank of their error.
j Presslers Cash account balance is $ on October
Required
Prepare the bank reconciliation for Pressler Institute at October
Prepare any necessary journal entries resulting from the reconciliation.
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