Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in
ID: 2500423 • Letter: B
Question
Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in a night depository, after banking hours. The data required to reconcile the bank statement as of June 30 have been taken from various documents and records and are reproduced as follows. The sources of the data are printed in capital letters. All checks were written for payments on account.
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, 2016
1
Cash balance according to bank statement
$9,447.20
2
Add deposit for May 31, not recorded by bank
690.25
3
$10,137.45
4
Deduct outstanding checks:
5
No. 731
$162.15
6
No. 736
345.95
7
No. 738
251.40
8
No. 739
60.55
820.05
9
Adjusted balance
$9,317.40
10
11
Cash balance according to company’s records
$9,352.50
12
Deduct service charges
35.10
13
Adjusted balance
$9,317.40
JUNE BANK STATEMENT:
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CASH ACCOUNT: Balance as of June 1 $9,317.40 CASH RECEIPTS FOR MONTH OF JUNE $9,223.76Explanation / Answer
Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in
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