Prepare a Bank Reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are discovered,assume that the errors were made by the company. Assume all deposits are from cash...

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  • Prepare a Bank Reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are discovered,


    assume that the errors were made by the company


    . Assume all deposits are from cash sales. All checks are written to satisfy Accounts Payable.



  • Note that the 6/9 deposits for $3,500 and $210 on the Bank Statement are for Notes Receivable and interest earned that was paid directly to the bank and into the company's account.



  • Prepare the necessary journal entries. Please make one combined journal entry for all of the additions and another combined journal entry for all of the deductions.







Accounting 1A Chapter 7 – Cash and Internal Controls Bank Reconciliation Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in a night depository, after banking hours. The data required to reconcile the bank statement as of June 30, 20Y2, have been taken from various documents and records and are reproduced as follows. The sources of the data are printed in capital letters. All checks were written for payments on account. CASH ACCOUNT:   Balance as of June 1 $9,317.40 CASH RECEIPTS FOR MONTH OF JUNE 9,223.76 DUPLICATE DEPOSIT TICKETS:  Date and amount of each deposit in June: Date Amount Date Amount Date Amount June 1 $1,080.50 June 10 $ 996.61 June 22 $ 897.34 3 854.17 15 882.95 24 947.21 8 840.50 17 1,606.74 30 1,117.74 CHECKS WRITTEN:   Number and amount of each check issued in June: Check No. Amount Check No. Amount Check No. Amount 740 $237.50 747 Void 754 $ 449.75 741 495.15 748 $450.90 755 272.75 742 501.90 749 640.13 756 113.95 743 761.30 750 276.77 757 407.95 744 506.88 751 299.37 758 259.60 745 117.25 752 537.01 759 901.50 746 298.66 753 380.95 760 486.39 Total amount of checks issued in June $8,395.66 BANK RECONCILIATION FOR PRECEDING MONTH:
Answered 1 days AfterMar 30, 2023

Answer To: Prepare a Bank Reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are...

Bhavani answered on Apr 01 2023
26 Votes
Sheet1
    Bank Reconciliations
            Bank Statement Balance                        CASH
    Bank Balance        $ 13,624.71        Book
Balance        $ 10,145.50        Dr.    Cr.
                                     10145.50                Dr.    Cr.
    ADD:                ADD:                $ 3,500        1)    Cash     3800.00
     Deposits in Transit        1,117.74         Interest Earned        $ 210        210             Interest Revenue        $ 210
                     Direct Deposits        $ 3,500        $ 90             Notes receivable        $ 3,500
                     Error in Check: 743        $...
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