Please prepare a bank reconciliation statement dated October 31 and all necessar

Question

Please prepare a bank reconciliation statement dated October 31 and all necessary journal entries. Please show solutions.

Kasten Company's bank statement and the check register are shown below. Assume that all amounts on the bank statement are correct October Bank 5Statement Check Register for Oetober Oct Beginning Balance$ 12,588 (389) (2,120) 3,100 1-Oct Beginning Balance 2,179 3 Check No. 5601 11 Check No. 5606 14 Deposit 15 Check No. 5505 22 Deposit 25 NSF Chock No 119 28 Check No. 5608 29 Check No. 5510 30 Bank Service Charge 30 Interest Earned 30 Ending Balance 5 Check 5605 8 Check 5606 12 Check 5607 14 Deposit 21 Check 5608 22 Deposit 24 Check 5609 25 Chock 5610 29 Check 5611 30 Deposit 30 End Balancs (2,120) (850) 3,100 (1,500) 3.440 789) (106) 250) 3,440 (1,800) (1,500) (106) 25) 3,00 $ -14.004 Based on the bank statement and check register, prepare a bank reconciliation statement dated October 31 and all necessary Journal Entries

Explanation / Answer

1. Bank Reconciliation Report is as prepared below:

Journal entries

Kasten Company Bank Reconciliation Oct-31 Particulars Amount ($) Amount ($) Cash balance according to company's records 14,904.00 Interest Earned 135 Less: Bank service Charge 25 NSF Check returned 1,800 Adjusted cash balance as per books 13,214.0 Cash balance according to bank statement 13,090.00 Add: Deposit in transit 2,013 Check wrongly charged to Reber Less: Outstanding checks 5607 850 5609 789 5611 250 Adjusted cash balance per bank 13,214.0

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

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