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Write the procedure documentation for the monthly bank reconciliation process in a professional manner. It will be the desktop guide used by others in the

  • Write the procedure documentation for the monthly bank reconciliation process in a professional manner.
    • It will be the desktop guide used by others in the event of your absence to prepare the financial statements for The Gift Shop.
    • It may be in the form of a memorandum or as a numbered listing of items, depending on your individual preference.
  • Prepare the monthly bank reconciliation for The Gift Shop based on the information provided.

Additional information needed for bank reconciliation preparation follows:

  • Cash per the unadjusted trial balance is $12,675.
  • Cash balance per the bank statement is $12,780.
  • Check #115 has not cleared the bank. It was written for $645.
  • A deposit of $1,000 cleared the bank but was not recorded in the general ledger.
  • A check for $250 was found in the owner's desk drawer.
  • A deposit of $1,250 was taken to the bank after 2 p.m. on December 31, 2008 and was not posted by the bank until January 1, 2009.
  • Errors were noted in the following checks:
    • Check #121 was recorded for $325 but cleared the bank as $320.
    • Check #125 was recorded for $585 but cleared the bank as $600.
    • Bank service charge reported on the bank statement $30.00

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