Chapter # 8 Problem # 15
N2 Surfing Resort’s June bank statement showed the following deposits and checks:
N2 Surfing Resort
Bank Statement
Deposits Checks
|
Date |
|
Amount |
|
Date |
Number |
|
Amount |
|
|
06/01 |
$ |
2,205.60 |
|
06/01 |
652 |
$ |
1,261.50 |
|
|
06/05 |
$ |
3,872.42 |
|
06/03 |
654 |
$ |
1,000.00 |
|
|
06/17 |
$ |
5,105.18 |
|
06/08 |
655 |
$ |
1,250.00 |
|
|
06/22 |
$ |
2,764.87 |
|
06/12 |
656 |
$ |
800.00 |
|
|
06/30 |
$ |
1,835.92 |
|
06/16 |
657 |
$ |
672.31 |
|
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|
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06/18 |
659 |
$ |
250.00 |
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06/25 |
660 |
$ |
861.12 |
|
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|
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06/30 |
662 |
$ |
500.00 |
|
The cash records per books for June showed the following:
Cash Receipts Journal Cash Payments Journal
|
Date |
|
Amount |
|
Date |
Number |
|
Amount |
|
|
06/04 |
$ |
3,872.42 |
|
06/01 |
654 |
$ |
1,000.00 |
|
|
06/16 |
$ |
5,105.18 |
|
06/03 |
655 |
$ |
1,250.00 |
|
|
06/21 |
$ |
2,764.87 |
|
06/09 |
656 |
$ |
800.00 |
|
|
06/29 |
$ |
1,853.92 |
|
06/10 |
657 |
$ |
627.31 |
|
|
06/30 |
$ |
1,386.45 |
|
06/11 |
658 |
$ |
300.00 |
|
|
|
|
|
|
06/12 |
659 |
$ |
250.00 |
|
|
|
|
|
|
06/20 |
660 |
$ |
861.12 |
|
|
|
|
|
|
06/22 |
661 |
$ |
387.05 |
|
|
|
|
|
|
06/28 |
662 |
$ |
500.00 |
|
|
|
|
|
|
06/29 |
663 |
$ |
500.00 |
|
The bank statement for June 30 showed a cash balance of (a) $12,458.27; the cash balance per books on that date was (d) $12,174.62. The outstanding checks list for May included the following:
|
Number |
|
|
Amount |
|
648 |
|
$ |
328.05C |
|
649 |
|
$ |
150.00C |
|
652 |
|
$ |
1,261.50 |
There was a debit memo of (f) $22.00 for bank service charges that was included with the bank statement. The bank made no errors, while the company made two errors.
Required: Prepare a bank reconciliation for the company as of June 30.
Below is the bank reconciliation format that you must use.
Chapter # 8 Problem # 15 Solutions
N2 Surfing Resort
Bank Reconciliation
June 30
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Balance per bank statement, June 30 |
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|
$ |
12,458.27 |
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Add: |
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Less: |
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Adjusted bank balance, June 30 |
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$ |
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Balance per books, June 30 |
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$ |
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Add: |
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Less: |
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$ |
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Adjusted book balance, June 30 |
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$ |
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(at this point journal entries would be made to adjust the firm’s accounts to match bank data. Therefore please make those journal entries below)
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