Cash Short and Over Petty Cash Bank Reconciliation Bank Reconcilation The compan

Question

Cash Short and Over Petty Cash Bank Reconciliation Bank Reconcilation The company's accounting intern has prepared reviewing the bank reconoliation, scroll down for the nost steps in heloing the intern. the end-of-January banl reconcilation from the bank statement and is womed because the Adjusted Balance amounts do not Murdstone Co. Bank Reconciation y 31, 2016 : Cash balance according to bank statemest : Deduc deposit of May 31 not recerded by ban 23,55798 1212525 4 Add sutstanding chedes s62 00 86 2500 s No. 124 Adjsted balance 12 8300 $515428 te Cash balance according to campanys records My Work Al work saved. pe here to search

Explanation / Answer

Answer:

Murdstone Co. Corrected Bank Reconciliation 31-Jan-16 Cash Balance according to Bank statement $23,557.98 Add: Deposit of Jan 31 not recorded by Bank $12,125.25 $35,683.23 Less: Outstanding cheques No.124 $62.00 No.125 (corrected amount) $68.00 No.124 $1,250.00 $1,380.00 Adjusted Balance $34,303.23 Cash Balance as per company records $51,542.88 Add: Note and interest credited by bank $15,250.75 $66,793.63 Less: Cheque returned because of insufficient funds $23,475.40 Bank Service charges (corrected amount) $15.00 The remaining correct amount of cheque No.123 $21435-$12435 $9,000.00 $32,490.40 Adjusted Balance $34,303.23

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