DUPLICATE DEPOSIT TICKETS: Date and amount of each deposit in June: CHECKS WRITT

Question

DUPLICATE DEPOSIT TICKETS: Date and amount of each deposit in June:

CHECKS WRITTEN: Number and amount of each check issued in June:

Total amount of checks issued in June: $8,395.66

BANK RECONCILIATION FOR PRECEDING MONTH:

Beeler Furniture Company

Bank Reconciliation

May 31, 20Y2

1

Cash balance according to bank statement

$9,447.20

2

Adjustments:

3

Deposit for May 31 not recorded by bank

$690.25

4

Outstanding Check No. 731

(162.15)

5

Outstanding Check No. 736

(345.95)

6

Outstanding Check No. 738

(251.40)

7

Outstanding Check No. 739

(60.55)

8

Total adjustments

(129.80)

9

Adjusted balance

$9,317.40

10

11

Cash balance according to company’s records

$9,352.50

12

Adjustments:

13

Bank service charges

(35.10)

14

Adjusted balance

$9,317.40

Refer to the

June Bank Statement

.

CASH ACCOUNT: Balance as of June 1 $9,317.40 CASH RECEIPTS FOR MONTH OF JUNE $9,223.76 JUNE BANK STATEMENT: PAGE1 MEMBER FDIC ACCOUNT NUMBER FROM 6/01/20Y2 BALANCE AMERICAN NATIONAL BANK OF CHICAGO 6/30/20Y2 9,447.20 8,691.7 7,599.26 TO CHICAGO, IL 60603 (312) 441-1239 9 DEPOSITS 20 WITHDRAWALS BEELER FURNITURE COMPANY 4 OTHER DEBITS AND CREDITS 3,088.00CR NEW BALANCE 13,624.71 -CHECKS AND OTHER DEBITS--DEPOSITS--DATE BALANCE--* 6/01 8/02 6/04 8/09 6/09 6/09 9,629.38 10,411.80 10,268.92 9,931.24 13,018.33 12,134.30 12,484.7 12,419.76 13,304.00 13,307.00 14,249.71 13,699.71 13,624.71 No. Y31 162.18 No. 36 348.98 No. r39 80.88 No. 741 498.18 No. 43 671.30 No. Y44 806.88 No. 748 117.28 690.28 No. 40 237.80 1,080.BO No. 742 B01.90 884.1 840.80 No. 746 298.66 MS 3,800.00 No, ?48 480.90 No. ?49 640.13 MS 210.00 896.61 882.98 1,608.74 897.34 942.71 No"80 276.7? No. 782 837.01 No. Y64 449.78 No. 787 407.98 No. 781 299.37 No. Y83 380.98 No. Y88 272.78 No. r60 486.39 6/16 6/18 6/23 6/28 6/28 6/30 NSF 860.00 BC ERROR CORRECTION MSMISCELLANEOUS NSF-NOT SUFFICIENT FUNDS OD-OVBRDRAFT PS PAYMENT STOPPED SC-SERVICE CHARGE THE RECONCILEMENT OR THIB 8TATEMENT WITH YOUR RECORDS IS ESSENTIAL ANY BRROR OR EXCEPTION SHOULD BE REPORTED IMMEDIATELY

Explanation / Answer

Part 1

Beeler furniture company

Bank Reconciliation

June 30, 20Y2

Part 2

Part 3

the amount of Cash that should appear on the balance sheet as of June 30, 20Y2 is $13,216

Part 4

the error would be included in a bank reconciliation in the following manner:

Addition to Cash per bank statement (it will be added to Cash balance as per bank statement)

It should be corrected in the following manner :

Request that the bank correct the error (bank should be requested to rectify the error).

Cash balance according to Bank statement 13624.71 Add: Deposit (June 30) not recorded by bank 1117.74 14742.45 Deduct : check no. 738 251.40 Deduct : check no. 756 113.95 Deduct : check no. 758 259.60 Deduct : check no. 759 901.50 1526.45 13216.00 Cash balance according to company's record 10145.50 Add: principle of note collected 3500 Add : interest on note collected 210 Add: error in recording check no. 743 90 3800 13945.50 Deduct : check returned due to insufficient balance 550 Deduct : error in recording June 10 deposit 100 Deduct : error in recording June 24 deposit 4.5 Deduct : bank service charges 75 729.50 Adjusted balance 13216.00

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