Bentley Company\'s June 30, 2014, bank statement and June ledger accounts for ca

Question

Bentley Company's June 30, 2014, bank statement and June ledger accounts for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1, 2014 Deposits during June Checks cleared during June Bank service charges Balance, June 30, 2014 $ 7,700 23,350 6,800 6,769 6,769 15,650 $16,550 31 Cash (A) June 1 Balance June Deposits 7,700June Checks written 18,950 19,900 Required 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $3,350. A deposit of $3,300 is in transit at the end of June BENTLEY COMPANY Bank Reconciliation, June 30, 2014 Company's Books Bank Statement Additions Additions Deductions: Deductions: Correct cash balance Correct cash balance

Explanation / Answer

BANK RECONCILIATION STATEMENT Company's Books Bank Statement Balance as per books 6750 Balance as per statement 6769 Adjustment Adjustment: Additions: Additions: Deposit in transit 3300 6750 10069 Deductions: Deductions: Service charges 31 Outstanding checks 3350 Adjusted Balance as per books 6719 Adjusted Balance 6719 Journal Entry:; Service charges Expense Dr. 31      Cash Account 31 Cash Balance after reconciliation Statement 6719 Total amount of cash reported in Balance Sheet 6719

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