Given the following information, prepare Tommy\'s Furniture Bank Reconc. As of A
ID: 2454209 • Letter: G
Question
Given the following information, prepare Tommy's Furniture Bank Reconc. As of Also prepare any necessary gen. journal entries Tomm'y Furniture's last deposit of June did not appear on the bank statement 6,248.46 Company check #4538 was correctly cashed by the bank for 780.00 However the company recorded the check as A customer's check "bounced". The bank recorded it. We didn't On the bank statement the following subt. were made but we have yet to record them: EFT Insurance payment 300.00 Service charges 25.00 On the bank statement the following addition was made but we have yet to record it: Interest Income 189.00Explanation / Answer
Tommy's Furniture Bank A/c Reconciliation As on 06-30-2014 Sr No Details Amt $ Balance as per Bank Statement 23,734.59 1 Less: Cheques Written not cleared Che no4521 325.18 4536 1,700.65 4544 12.12 4545 991.54 4546 325.14 4547 4,200.00 4548 18.66 Total 7,573.29 2 Add, Deposited in bank not in statement 6,248.46 3 Less : Wrong accounting entry in GL chq #4538 90.00 4 Add: Bounced chq recorded by bank not in GL 2,100.00 5 Add :Bank charges debited not in GL; a. EFT Insurance paid 300.00 Service charges 25.00 6 Less: Interest Income credited by bank not in GL 189.00 Balance as per cash Book as on 06-30-2014 24,555.76 Journal entries required in GL Sr No Account Dr $ Cr $ 3 Cash 90 Accounts Payable 90.00 4 Accounts Receivable 2,100.00 Cash 2,100 5 Cash 325 ETF Insurance expense 300.00 Bank Service charges 25.00 6 Cash 189.00 Interest Income 189
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