50.1K

Verified Solution

Link Copied!

Bank Reconciliation Problems 9-5B Preparing a bank reconciliation statement and journalizing entries to adjust the cash balance. On October 5, Sam Yao, Attorney at Law, received his September bank statement from First Security National Bank. Enclosed with the bank statement was a debit memorandum for $112 that covered an NSF check issued by Julia Anderson, a credit customer. The firm's checkbook contained the following information about deposits made and checks issued during September. The balance of the Cash account and the checkbooks on September 30 was $16,622 Date Transactions Sept. 1 Balance $13,000 Check 124 200 Check 125 20 Deposit 1,000 Check 126 450 Deposit 820 Check 127 400 Check 128 150 Check 129 Deposit 1,460 Check 130 Check 131 40 Check 132 Deposit 1,800 NANDOWw= 120 FIRST SECURITY NATIONAL BANK Sam Yao, Attorney-at-Law Account No. 11-4568.03 2222 Sam Houston Lane Period Ending Sept. 30 Columbus, OH 44106 DATE BALANCE CHECKS DEPOSITS Beginning Balance 1,000.00+ 20.00- 820.00+ 200.00- 400.00 450.00- 120.00- August 31 September 3 September 6 September 11 September 15 September 19 September 23 September 25 September 28 13,000.00 14,000.00 13,800.00 14,200.00 13,750.00 13,630.00 15,090.00 15,042.00 14.922.50 1,460.00+ 40.00- 7.50- SC 8.00- 112.00- DM Instructions: (a) Prepare a bank reconciliation statement for the firm as of September 30. (b) Record general journal entries for any items on the bank reconciliation statement that must be journalized. Date the entries October 5. (c) Analyze: How many checks were paid (cleared the bank) according to the September 30 bank statement

Answer & Explanation Solved by verified expert

See Answer