Del Gato Clinic deposits all cash receipts on the day when they are received and

Question

Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all ments by check. At the close of business on June 30, 2017, its Cash account shows an $11,589 ance. Del Gato Clinic's June 30 bank statement shows $10,555 on deposit in the bank. Prepare a reconciliation for Del Gato Clinic using the following information: a. Outstanding checks as of June 30 total $1,829. b. The June 30 bank statement lists a $16 bank service charge. Exercise 8-9 Bank reconciliation P3 c. Check No. 919, listed with the canceled checks, was correctly drawn for $467 in payment of a s bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a ce Cash in the amount of $476. Check Recondied bal d. The June 30 cash receipts of $2,856 were placed in the bank's night depository after basking hwe $ 11,582 and were not recorded on the June 30 bank statement.

Explanation / Answer

Closing Balance as per Cash Book on June,30 $ 11,589 Add: Outstanding Checks $ 1,829 Reversal of excess Amount of Expenses Booked ($476-$467) $ 9 $ 1,838 Less: Bank Service Charges $16 Cash Deposited after banking hours not reflect in Bank pass book $ 2,856 ($ 2,872) Closing Balance as per Bank Statment on June,30 $ 10,555

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