The following information is available for Pyle Garage for March 2018:

The following is a list of checks and deposits recorded on the books of Pyle Garage for March 2018:

Other Information
1. Check no. 1462 was outstanding from February.
2. A credit memo for collection of accounts receivable was included in the bank statement.
3. All checks were paid at the correct amount.
4. The bank statement included a debit memo for service charges.
5. The February 28 bank reconciliation showed a deposit in transit of $1,000.
6. Check no. 1468 was for the purchase of equipment.
7. The unadjusted Cash account balance at March 31 was $16,868.

Required
a. Prepare the bank reconciliation for Pyle Garage at the end of March.
b. Explain how the adjustments described above affect the cash account.

Transcribed Image Text:

BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage 629 Main Street Hazard, GA 30321 Account number 62-00062 March 31, 2018 Beginning balance 3/1/2018 Total deposits and other credits Total checks and other debits Ending balance 3/31/2018 $15,000.00 7000.00 6000.00 16000.00 Checks and Debits Deposits and Credits Check No 1462 1463 1464 1465 1466 1467 DM 1468 Amount Date March 1 March 2 March 6 March 12 March 17 March 22 CM Amount $1163.00 62.00 1235.00 750.00 1111.00 964.00 15.00 700.00 $1000.00 1340.00 210.00 1940.00 855.00 1480.00 175.00 Date of Check March 1 210.00 March 16 0 1480.00 2000.00 102.00 March 29