Before entering your adjusting entries, complete the bank reconciliation ( page

Question

Before entering your adjusting entries, complete the bank reconciliation ( page 9 ) for June 30, the statement date , and the last workday of the month. Enter the cash balance from the trial balance as the book balanc e, an d $ 70,919.23 as the bank statement balance . Additional information needed to complete the reconciliation is listed below: 1. A late deposit of $ 11,225.00 was not listed on the bank statement. 2. Accrued interest earned on the checking account totals $ 63.80 3. T he debit memo from the bank for miscellaneous account services (charged to Bank Service Charges) totals $ 45.60 4. During the month of June, customers purchased $ 11,278.44 in merchandise and s ervices using their bank credit cards . A debit memo with the bank statement charges Granite Bay Jet Ski 3% of the total of these sales receipts as a credit card fee (Credit Card Expense) . On all calculations remember to round your answer to the nearest cent . 5. Checks 31 235 , 31 236 , and 31 237 were not returned with the ban k statement.

Explanation / Answer

Balance as per cash book on 30th june $70919.23

Minus late deposit of $ 11,225.00 was not listed on the bank statement. - $11225.00

Plus Accrued interest earned on the checking account totals + $ 63.80

Minus Bank Service Charges - $ 45.60

Plus Sale receipts using bank credit cards by customer +$ 11,278.44

Minus Credit card fees (3% of 11278.44) - $ 338.35

Equal to Balance as per Bank pass book = $ 70652.32

Note :- Amount of cheques no. 31 235 , 31 236 , and 31 237 (which were not returned with the   bank statement) is not mentioned in the ques. so there is a difference between balance as per cash book and pass book

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

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