Question

You are the accountant for Georgia Company and you have recently received the bank statement for your company's account and need to reconcile it with your general ledger cash account. Georgia's records show an ending balance for the month of $35,582.00 while the bank's records show an ending balance of $37,200.00. Please note Check #841 was correctly processed by the bank as $1,962.00 but was mistakenly recorded by you as $1,562.00. Customer Jones check for $616.00, which had been deposited during the month, was returned NSF. Date transaction Decription 22. deporte Ending and 5.182 Bank Statement Month Ending balance Aditor Deposit General Ledger Month Ending balance Deduct Check 1541 Dedictions Service feet Adjusted Ending Balance Adjusted Ending Balance

Answer 1

Answer:

Bank Statement Month Ending balance Additions: Deposit $37,200 $500 General Ledger Month Ending balance Additions: Interest Income EFT deposit received $35,582 $11 $1,500 Deductions: Outstanding Check #844 Outstanding Check # 846 $129 $1,514 Deductions: NSF check for customer Jones Bank service fees Error in recording check #841 for $1962 (recorded as $1562) $616 $20 $400 Adjusted Ending Balance $36,057 Adjusted Ending Balance $36,057