Exercise 4-45 Bank Reconciliation (Partial) The cash account for Pitt Corporatio

Question

Exercise 4-45 Bank Reconciliation (Partial) The cash account for Pitt Corporation contains the following information for June: $18,130 42,650 $60,780 Cash balance, 5/31 Cash received during June Cash disbursements during June: Check 8255 Check 8256 Check 8257 Check 8258 $17,850 22,375 9,620 2,735 52,580 Cash balance, 6/30 $8,200 The bank statement for June contains the following information $34,525 42,650 $77,175 Bank balance, 5/31 Add: Deposits during June Less: Checks paid during June: Check 8253 Check 8254 Check 8255 Check 8256 $1,720 14,675 17,850 22,375 56,620

Explanation / Answer

Requirement 1 $ Check 8257     9,620 Check 8258     2,735 Outstanding Checks at June 30 12,355 Requirement 2 Pitt Corporation Bank Reconciliation Schedule June 30 Bank balance, 6/30 20555 Less: Outstanding Checks at June 30 12355 12355 Adjusted Cash balance 8200 Cash balance, 6/30 8200 Requirement 3 $ Check 8253     1,720 Check 8254 14,675 Outstanding Checks at June 30 16,395 Requirement 4 Pitt Corporation Bank Reconciliation Schedule May 31 Bank balance, 5/31 34525 Less: Outstanding Checks at June 30 16395 16395 Adjusted Cash balance 18130 Cash balance, 5/31 18130

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