Question

Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at june 30 $9,172.54 Balance per Cash account, June 30. Balance per bank statement,June 30. Deposits not reflected on bank statement Outstanding checks, June 30. Service charge on bank statement not recorded in books Error by bank-Yertel Company check charged on oung Company's bank statement Check for advertising expense incorrectly recorded in books as 14.3 715 YOUNG COMPANY Bank Reconciliation June 30 0Balance from general ledger Add: Check for $ Add: recorded as s Add: Bank error- Yertal Company check charged against Young Company's account OLess Less: F9 F7 FB FS F3

Answer 1

Solution:

Young Company
Bank Reconciliation - June 30
Bank's Cash balance		Company's cash balance
Particulars	Amount	Particulars	Amount
Ending balance as per Bank Statements	$9,490.33	Ending Balance as per cash books	$9,172.54
Additions:		Additions:
Outstanding Deposits	$942.50	Incorrect recording of advertising check ($676 - $325)	$351.00
Bank Error	$715.00
Deductions:		Deductions:
Outstanding Checks	$1,638.59	Service Charge	$14.30
Up to date cash balance as per bank	$9,509.24	Up to date cash balance as per books	$9,509.24