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Preparing Bank Reconciliation Statement

Question

(Bank Reconciliation and adjusting Entries) Angela Lansbury Company deposits all receipts and makes all payments by check. The following is available from the cash records.

             June 30 Bank Reconciliation

Balance per bank                                  $7,000
Add: Deposits in transit                           1,540
Deduct: Outstanding checks                 (2,000)
Balance per books                                $6,540
 
               Month of July Results
                                                                                                                  Per Bank          Per Books
Balance July 31                                                                                            $8,650              $9,250
July deposits                                                                                                  5,000                5,810
July checks                                                                                                    4,000                3,100
July note collected (not included in July deposits)                                        1,000                 _
 
July bank service charge                                                                                 15                    –
July NSF check from a customer, returned by the bank                                  335                  _
(recorded by bank as a charge)
 
Instructions:

(a) Prepare a bank reconciliation going from balance per bank and balance per books to correct cash balance.

(b) Prepare the general journal entry or entries to correct the Cash account.

Summary

The question belongs to Accounting and it is about preparing a bank reconciliation statement for a Angela Lansbury Company. The details for the reconciliation have been used for preparing the statement.

Total Word Count 137

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