Neste Pure L 27. (13 Points) The following information is available for the Savv

Question

Neste Pure L 27. (13 Points) The following information is available for the Savvy Company for the month of June a. On June 30, after all transactions have been recorded, the balance in the company's Cash account balance of $17,202 b. The company's bank statement shows a balance on June 30 of $19,279 c. Outstanding checks at June 30 total $2,984. d. A credit memo included with the bank statement indicates that the bank collected $770 on a noninterest bearing note receivable for Savvy e. A debit memo included with the bank statement shows a $67 NSF c has a f. A deposit placed in the bank's night depository on June 30 totaling $1,675 did not appear on the bank m a customer, J. Maroon. statement. g. Comparing the checks on the bank statement with the entries in the #3445 for the payment g records reveals that check t payable was correctly written fo r $2,450, bit was recorded in the h. Included with the bank statement was a debit memorandum in the amount of $25 for bank service charges. It has not been recorded on the company's books. Prepare the June bank reconciliation for the Savvy Company 2450 Savvy Company Bank Reconciliation June30 Bank statement balance 9279 Book balance I1 202 Add: Add: 770 D: Pest i Deduct: Deduct: 2931 Adjusted bank balance Adjusted book balance 7202 9279 t 1675 695 346 7172 61 25T 40 7 880

Explanation / Answer

Bank statement balance 19279 Book balance 17202 Add: Add: Deposits in transit 1675 Note collected 770 Error in recording check #3445 90 Deduct: Deduct: Outstading checks 2984 NSF check 67 Bank service charges 25 Adjusted bank balance 17970 Adjusted book balance 17970

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