Question

In this exercise, you will complete a bank reconciliation as of 4/30/2016 for Furniture Resellers. One of your primary goals is to ensure that the file can be easily understood by the end user. Use this information to populate the reconciliation:

• Deposits in Transit: $1,700 and $2,300
• NSF Check: $900
• Notes Receivable: $2,200
• Outstanding Checks: $400 and $700
• Bank Charges: $100
• The bank erroneously posted a deposit of $400 made by FurnitureLand to the account of Furniture Resellers.
• The bank statement reflects a 4/30/16 balance of $17,200, while the company’s general ledger reflects a 4/30/16 cash balance of $18,500.

Modify the appearance of the reconciliation using Format Painter and Quick Styles. Set a conditional formatting rule that will highlight the bank balance if it exceeds $17,000. Apply a header that displays the file path and a footer that displays the current date. Ensure that all column widths, row heights, and font sizes are appropriately adjusted.

Prepare the necessary journal entries to record the adjustments required to your company’s books.

Answer 1