Zimmerman Company of Shawnee, Kansas, spreads herbicides and applies liquid fert
ID: 2569311 • Letter: Z
Question
Zimmerman Company of Shawnee, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2014, the company’s Cash account per its general ledger showed a balance of $6,839.90.
The bank statement from Shawnee State Bank on that date showed the following balance.
SHAWNEE STATE BANK
Checks and Debits
Deposits and Credits
Daily Balance
A comparison of the details on the bank statement with the details in the Cash account revealed the following facts.
SHAWNEE STATE BANK
Checks and Debits
Deposits and Credits
Daily Balance
XXX XXX 5-31 7,069.00 Prepare the bank reconciliation at May 31, 2014 IMMERMAN COMPANY Bank Reconciliation May 31, 2014 Cash balance per bank statement 7,069 Add: Deposits in transit 1,892.15 Bank error 348 2,240.15 9,309.15 276.25 9,032.9 Less Toutstanding checkS Adjusted cash balance per bank 6,839.9 2,803 9,642.9 Cash balance per books Add: Tcollection of note receivable Less NSF check Error in recording check Error in deposit Check printing charge 481 27 50 52 610 Adjusted cash balance per books 9,032.9Explanation / Answer
May-31 Cash 2803 Miscellaneous expense 20 Notes receivable 2701 Interest revenue 122 May-31 Accounts receivable 481 Cash 481 May-31 Sales revenue 50 Cash 50 May-31 Accounts payable 27 Cash 27 May-31 Miscellaneous expense 52 Cash 52
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