Question

P#2 Use the following Information to Answer the mg Information to Answer the Bank Recon Questions (show your work) • Assume Any Discrepancies or errors were made by the BANK A. January 8th Interest Income of $4,000 ALEMENT Information provided by the Bank for January was as follows; B. January 8th Monthly Bank Fees of $3,000 Tonthly Bank Fees of $3.000 C. January 15th Direct Deposit from our Customer Trump on Account for $33,000 D. January 20th Deposit for $11,000 E. January 25th Deposit for $23,000. F. January 30" Checks paid and cleared by the bank were #157=$7,000 and #158=$8,000 G. January 31" The Ending Balance per the Bank at January 31 was $230,000 GENERAL LEDGER (JW Corp Books) information for January was as follows; A. Checks written from our GL account during January were; #156=$4,000, #157=$7,000, #158=$8,000, #159=$10,000 B. January 20th Deposit for $11,000. til din C. January 25th Deposit for $32,000. D. January 31st Deposit for $19,000. SAD SON E. January 3151 Ending GL/Book Balance at January 31 was $210.000 1) Compute the Adjusted Ending Cash Balance at Month End =

Answer 1

Bank Reconciliation
January 31
Balance per bank statement		230000
Add:
Deposits in transit	19000
Error in recording deposit ($32000 - $23000)	9000	28000
		258000
Less: Outstanding checks ($4000 + $10000)		14000
Adjusted balance $		244000
Balance per books		210000
Add:
Direct deposit by customer	33000
Interest earned	4000	37000
		247000
Less: Bank fees		3000
Adjusted balance $		244000

1) Adjusted Ending Cash Balance at Month End = $244,000