Question

E4-19A (similar to) More Info -x || O More info F. L. Harns checkbock lists the following (Click the icon to view the checkbook) The May benk statement showNS: Date Chack No Chark Daposit BalanCe S 520 (Cliok the icon to visw the May bank statement.) 1. Prepare Harrs'bank reconcliation at May 31, 2015 Requirement 1. Prepare Harris' bank reconclialion at May 31 Add Depasits Debit Checks: No S 520 622 Landry's Cafe Dividends recaived Amcunt 3 30 150 S 30 5 106 150 13 623 Cty Tire Co 14 624 Jiy Lube 624 Prepare the bank section of the bank reconaliation, then the book section of the bank reconcilation Cash 65 F. L. Harris Shalom Baptist Church Other charges 28 27 Greenside Apartments S 25 1540 3 253 May 31, 2015 Faycheck 1,210 152 Service charge Print Done This 1s the correct amount tor check number 624 Print Done Check Number

Answer 1

Bank reconciliation is a very important tool for internal control of cash flows.It helps in detecting errors,frauds and differences caused due to time , if any, at the time of passing entries in the books.