Spielber Company\'s general ledger shows a checking account balance of $22,840 o

Question

Spielber Company's general ledger shows a checking account balance of $22,840 on July 31, 2015. The July cash receipts of $1755. Included in the general ledger balance, are placed in the night depository at the bank on July 31 and processed by the bank on August 1. The bank statement dated July 31 shows bank service fees of $42. The bank processes al checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,330. The bank statement shows a balance of $22,373 on July 31

Prepare a bank reconciliation to calculate the correct ending balance of cash on July 31, 2015.

Explanation / Answer

Spielber Company (All amounts in $) Bank Balance per General Ledger 22840 Add : Cheque issued not processed 1330 24170 Less : Cash receipts accounted in bank on August 1 -1755 22415 Less : Bank Service Fees not accounted -42 Bank Balance per Bank Statement 22373

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