In connection with an audit you are given the following worksheet: Bank Reconciliation December...
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Accounting
In connection with an audit you are given the following worksheet:
Bank Reconciliation December 31, 2011
Balance per ledger December 31, 2011 $27,463.85
Add:
Cash receipts received on the last day of December and Night deposited $5,175.27
Debit memo for customer's check returned, unpaid (check Is on hand but no entry has been made on books) $450.00
Debit memo for bank service charge for December $110.00
= $33.199.12
Deduct:
Checks drawn but not paid by bank (see detailed list below) ($3,619.15)
Credit by bank in error amount not for us ($4,500.00)
Credit memo for proceeds of a note receivable that had Been left at the bank for collection but which has notBeen recorded as collected ($1,200)
Checks for an accounts payable entered wrongly on books as $297.50 but drawn and correctly paid by bank as $927.50 ($630.00)
Computed balance $23,249.97
Unlocated difference $6,670.44
Balance as per bank Dec 31 (checked to confirmation) $29,920.41
Checks drawn but not paid by bank
No.
571 $267.27
724 $39.92
901 $454.67
907 $291.80
911 $648.29
912 $737.52
914 $529.10
916 $36.00
917 $117.26
= $3,619.15
- Prepare a corrected reconciliation
- Prepare entries for items that should be adjusted prior to closing the books
In connection with an audit you are given the following worksheet:
Bank Reconciliation December 31, 2011
Balance per ledger December 31, 2011 $27,463.85
Add:
Cash receipts received on the last day of December and Night deposited $5,175.27
Debit memo for customer's check returned, unpaid (check Is on hand but no entry has been made on books) $450.00
Debit memo for bank service charge for December $110.00
= $33.199.12
Deduct:
Checks drawn but not paid by bank (see detailed list below) ($3,619.15)
Credit by bank in error amount not for us ($4,500.00)
Credit memo for proceeds of a note receivable that had Been left at the bank for collection but which has notBeen recorded as collected ($1,200)
Checks for an accounts payable entered wrongly on books as $297.50 but drawn and correctly paid by bank as $927.50 ($630.00)
Computed balance $23,249.97
Unlocated difference $6,670.44
Balance as per bank Dec 31 (checked to confirmation) $29,920.41
Checks drawn but not paid by bank
No.
571 $267.27
724 $39.92
901 $454.67
907 $291.80
911 $648.29
912 $737.52
914 $529.10
916 $36.00
917 $117.26
= $3,619.15
- Prepare a corrected reconciliation
- Prepare entries for items that should be adjusted prior to closing the books
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