Bank reconciliation Exercises First exercise : The bank statement for Laird Comp

Question

Bank reconciliation Exercises First exercise : The bank statement for Laird Company shows a balance per bank of $ 15907.45 on April 30. On this date the balance of cash per books is $ 11589.45 Laird determines the following reconciling items: April 30 deposit (received by bank on May 1) $ 2201.40 Outstanding checks $ 5904 Errors: Laird wrote the check no. 443 for $ 1226 and the bank correctly paid that amount, however Laird recorded the check as $ 1262 Bank memoranda: Debit - NSF check from JR for $ 425.60 Debit – charges for printing company checks $ 30 Credit – collection of note receivable for $ 1000, plus interest earned $ 50 , less collection fee $15 Required: prepare bank reconciliation Bank reconciliation Exercises First exercise : The bank statement for Laird Company shows a balance per bank of $ 15907.45 on April 30. On this date the balance of cash per books is $ 11589.45 Laird determines the following reconciling items: April 30 deposit (received by bank on May 1) $ 2201.40 Outstanding checks $ 5904 Errors: Laird wrote the check no. 443 for $ 1226 and the bank correctly paid that amount, however Laird recorded the check as $ 1262 Bank memoranda: Debit - NSF check from JR for $ 425.60 Debit – charges for printing company checks $ 30 Credit – collection of note receivable for $ 1000, plus interest earned $ 50 , less collection fee $15 Required: prepare bank reconciliation Bank reconciliation Exercises First exercise : The bank statement for Laird Company shows a balance per bank of $ 15907.45 on April 30. On this date the balance of cash per books is $ 11589.45 Laird determines the following reconciling items: April 30 deposit (received by bank on May 1) $ 2201.40 Outstanding checks $ 5904 Errors: Laird wrote the check no. 443 for $ 1226 and the bank correctly paid that amount, however Laird recorded the check as $ 1262 Bank memoranda: Debit - NSF check from JR for $ 425.60 Debit – charges for printing company checks $ 30 Credit – collection of note receivable for $ 1000, plus interest earned $ 50 , less collection fee $15 Required: prepare bank reconciliation

Explanation / Answer

Bank Reconciliation statement as on April 30. Particulars Amount ($) Amount ($) I Balance as per cash book 11589.45 (a) Add: i Overcharging check amount (1262-1226) Check No.443            36.00 ii outstanding check      5,904.00 iii Note receivable      1,000.00 iv Interest earned            50.00 v Total additions (i+iv)      6,990.00 II 18579.45 (b) Less: i Check deposited but not credited    (2,201.40) ii Cherges for prin ting company check          (30.00) iii NSF check from JR       (425.60) iv Collection fee          (15.00) v Total deduction (i+iv) (2,672.00) III Balance as per Bank Statement 15907.45

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.