Question

bank reconcialiation

invokersassignments takeAssignmentes Locator eBook m enta progresse Calculator Bank Reconciliation The following information is available to assist you in preparing a bank reconciliation for Burgoon Enterprises on May 311 a. The balance on the May 31 bank statement is 58,432.11. b. Not included on the bank statement is a $1,250 deposit made by Burgoon Enterprises late on May 31. C. A comparison between the canceled checks returned with the bank statement and the company records indicated that checks are outstanding at May 31: No. 123 145.00 $23.40 No. 127 No. 128 210.80 No. 130 76.92 d. The Cash account on the company's books shows a balance of $9.965.34 e. The bank acts as a collection agency for interest earned on some municipal bonds held by Burgoon Enterprises. The Maybank statement indicates interest of $465.00 earned during the month f. Interest earned on the checking account and added to Burgoon Enterprises' account during May was 554.60 service charges amounted to $50.00 scout bank 9. A customer's NSF check in the amount of $175.59 was returned with the Maybank statement. h. A comparison between the deposits listed on the bank statement and the company books revealed t o check the amount of $123.45 was recorded on the books during May but was never added to the company's account. The bank errol added the check to the account of Cancun Enterprises, which has an account at the same bank the The comparison of deposits per the bank statement with those per the books revealed that another customers check S101.10 was correctly added to the company's account. In recording the check on the company's books, however the erroneously increased the cash account by $1,011.00 Required: Erte a mounts rounded to the nearen

Answer 1

Bank Reconciliation Statement $ 8,432.11 Balance as per Bank Add: Deposits in Transit Bank Charges Customer's Check returned Erroneous Check Entry نه ف قه 1,250.00 50.00 175.59 123.45 909.90 =1011-101.1 10,941.05 غ Less: Cheques Outstanding for Payment (c.) 123 23.4 127 145 128 210.8 130 76.91 -456.11 Interest earned not recorded in Books 465 54.6 -519.60 Balance as per Books 9,965.34 (Bal Fig.)