Question

Problem 7-3A On May 31, 2015, Reber Company had a cash balance per books of $7,104.50. The bank statement from New York State Bank on that date showed a balance of $6,727.60. A comparison of the statement with the Cash account revealed the following facts. 1. The statement included a debit memo of $49.00 for the printing of additional company checks. 2. Cash sales of $832.00 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $882.00. The bank credited Reber Company for the correct amount. 3. Outstanding checks at May 31 totaled $899.25. Deposits in transit were $2,739.15. 4. On May 18, the company issued check no. 1181 for $674 to Lynda Carsen on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Reber Company for $647. 5. A $3,323.00 note receivable was collected by the bank for Reber Company on May 31 plus $89.00 interest. The bank charged a collection fee of $29.00. No interest has been accrued on the note. 6. Included with the cancelled checks was a check issued by Stiner Company to Ted Cress for $1,123.00 that was incorrectly charged to Reber Company by the bank. 7. On May 31, the bank statement showed an NSF charge of $671.00 for a check issued by Sue Allison, a customer, to Reber Company on account. Prepare the bank reconciliation at May 31, 2015. (Enter answers to 2 decimal places, e.g. 15.25. List items that increase cash balance first.) REBER COMPANY Bank Reconciliation May 31, 2015