Required information The following information applies to the questions displaye

Question

Required information The following information applies to the questions displayed below.] Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2017, its Cash account shows an $15,280 debit balance. Del Gato Clinic's June 30 bank statement shows $14,533 on deposit in the bank. a. Outstanding checks as of June 30 total $1,922 b. The June 30 bank statement lists a $45 service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $698 d. The June 30 cash receipts of $2,633 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement Prepare a bank reconciliation for Del Gato Clinic using the above information DEL GATO CLINIC Bank Reconciliation June 30, 2017 Book balance Add Bank statement balance Add

Explanation / Answer

DEL GATO CLINIC

$15244

Date General J ournal Debit Credit

a No journal entry required .

b Bank Charges . $45

Cash .$45

c Cash $9

Utilities expense . $9.

d No journal entry required .

DEL GATO CLINIC

Bank Reconciliation June 30,2017 Bank Statement Balance $14,533 Book balance $15280 Add: Deposit of June $2,633 Add: Error on CK. No. $9 Deduct: Outstanding checks $1,922 Deduct: Bank Charges $45 $15244

$15244

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.